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The Neuromodulation Market size was estimated at USD 7.76 billion in 2023, USD 8.61 billion in 2024, and is expected to grow at a CAGR of 11.50% to reach USD 16.62 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Neuromodulation devices and therapies are designed to deliver targeted electrical, chemical, or pharmaceutical agents to the nervous system in order to modulate its activity. This technology is primarily used for the treatment of various disorders, such as chronic pain, epilepsy, Parkinson's disease, and urinary incontinence, among others. Growing incidences of chronic pain and neurological disorders have created an urgent need for neuromodulation treatments. Furthermore, increased awareness about the benefits of neuromodulation techniques, rising healthcare expenditure, and government initiatives to promote access to neurological therapies are contributing to the growing adoption of neuromodulation.
However, incidences of product recall of neuromodulation devices and systems and the possibility of safety and health risks hamper the widespread growth of the technology. Additionally, the invasiveness of the therapy, coupled with strict regulations regarding the approval of medical devices, can delay the adoption of neuromodulation strategies. However, key players are researching non-invasive methods to expand the patient reach and maintain patient compliance. Developing personalized neuromodulation therapies could provide superior outcomes by catering to individual patient needs and physiology. Advances in biocompatible materials, incorporating wireless technologies to control neuromodulation devices, and utilizing big data analytics to interpret neuromodulation outcomes can provide new opportunities for the growth of the technology.
Regional Insights
The Americas region, particularly the U.S. and Canada, is characterized by the presence of a robust healthcare architecture and favorable reimbursement and insurance policies, which has shaped the adoption of neuromodulation technologies. Additionally, the awareness regarding neurological disorders and mental health issues is high in this region, thereby driving the recognition of the technology among patients. The patient landscape reflects a preference for innovative, FDA-approved treatments and a willingness to adopt new technologies.The Americas region exhibits a robust patent landscape with ongoing research and substantial investments in the neuromodulation space, as companies and research institutions aim to advance the efficacy and scope of neuromodulation therapies. In the European Union, increased life expectancy and favorable reimbursement policies are significant factors driving the need for the neuromodulation market. Patient needs are centered around the management of chronic conditions prevalent in an aging population, and customer purchasing behavior is influenced by the healthcare coverage provided by public health systems. There is a focus on creating common standards and regulations across the EU to facilitate market access and ensure patient safety. The EU is characterized by stringent healthcare regulations, which have fuelled several innovations to improve the safety and precision of neuromodulation technologies. The increasing incidences of neurological diseases in countries such as India and China and a rapidly aging population in Japan have augmented the need for neuromodulation therapies. Health awareness and government initiatives to advance the healthcare infrastructure can create a robust ground for the growth of neuromodulation in the APAC region.
Market Trends by Segment
- Technology: Increasing need for deep brain stimulation therapies for movement disorders and psychiatric issues
- Application: Rising incidences of Parkinson’s disease across the world
Industry Insights
- Market Dynamics
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
- FPNV Positioning Matrix
- Market Share Analysis
- Strategy Analysis and Recommendations
Recent Developments
GrayMatters Health Launches New FDA-Cleared Self-Neuromodulation PTSD Therapy in the United States
GrayMatters Health announced the U.S. launch of its FDA-cleared self-neuromodulation therapy, specifically designed to address Post-Traumatic Stress Disorder (PTSD). This groundbreaking development is set to transform the treatment landscape for PTSD by offering individuals a non-invasive, user-friendly therapeutic option. GrayMatters Health's commitment to improving mental health outcomes is exemplified through this therapy, which promises to deliver substantial benefits for those struggling with the debilitating impacts of PTSD, ultimately contributing to the enhancement of patient quality of life and the evolution of mental health care practices.Dr. Reddy’s Unveils Wearable for Migraine Management in India
Dr. Reddy's Laboratories embarked on a transformative venture by introducing a groundbreaking wearable device to manage migraines. Specifically engineered to offer non-invasive relief, the wearable employs advanced neuromodulation technology to alleviate migraine symptoms, providing patients with a novel therapeutic option that aligns with contemporary needs for convenience and ease of use.Galderma Unveils Bold Ambition in Neuromodulation at Liquid Live Event
Galderma made a strategic announcement demonstrating its commitment to innovating within neuromodulation. During a dynamic 'Liquid Live' event, the company disclosed its visionary strategy to expand and invigorate its presence in the market. This plan to surge in neuromodulation is underpinned by a robust pipeline of cutting-edge products and a deepened investment in research and development.Key Company Profiles
The report delves into recent significant developments in the Neuromodulation Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, BioControl by Merck, BioElectronics Corporation, Boston Scientific Corporation, Dr Reddys Laboratories Limited, EndoStim, Inc., Galderma S.A., GrayMatters Health, Impulse Dynamics, Livanova, Mainstay Medical, Medtronic PLC, MicroTransponde, NeuroMetrix, Neuronetics, Inc., NeuroPace, Inc., NeuroSigma, Inc., Nevro Corp., Saluda Medical, SceneRay Corporation, Limited, Soterix Medical, and Synapse Biomedical.This research report offers invaluable insights into various crucial aspects of the Neuromodulation Market:
- Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
- Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
- Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
- Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
- Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current market size and projected growth?
- Which products, segments, applications, and regions offer promising investment opportunities?
- What are the prevailing technology trends and regulatory frameworks?
- What is the market share and positioning of the leading vendors?
- What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
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Table of Contents
1. Preface
2. Research Methodology
5. Market Insights
6. Neuromodulation Market, by Technology
7. Neuromodulation Market, by Application
8. Americas Neuromodulation Market
9. Asia-Pacific Neuromodulation Market
10. Europe, Middle East & Africa Neuromodulation Market
11. Competitive Landscape
12. Competitive Portfolio
List of Figures
List of Tables
Companies Mentioned
- Abbott Laboratories
- BioControl by Merck
- BioElectronics Corporation
- Boston Scientific Corporation
- Dr Reddys Laboratories Limited
- EndoStim, Inc.
- Galderma S.A.
- GrayMatters Health
- Impulse Dynamics
- Livanova
- Mainstay Medical
- Medtronic PLC
- MicroTransponde
- NeuroMetrix
- Neuronetics, Inc.
- NeuroPace, Inc.
- NeuroSigma, Inc.
- Nevro Corp.
- Saluda Medical
- SceneRay Corporation, Limited
- Soterix Medical
- Synapse Biomedical
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 189 |
| Published | May 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 8.61 Billion |
| Forecasted Market Value ( USD | $ 16.62 Billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 22 |
