The global market for neuromodulation devices anticipated to reach $26.1 billion by 2029, expanding at a double-digit CAGR of 13.5% over the forecast period, driven by broad therapeutic scope, and significant active improvements in product development worldwide.
- Other factors boosting the market growth include growing elderly population with chronic neurological diseases, rising prevalence of Parkinson’s disease and Alzheimer’s / dementia disorders, presence of unmet medical needs, growing opioid epidemic and need for non-opioid alternatives, and increasing demand for minimally invasive surgical procedures.
- The vast size of the potential treatment population is a result of prevalence of the epilepsy, migraine, spinal cord injuries, Parkinson’s disease, and urinary incontinence disorders.
Neuromodulation technology acts directly upon nerves leading to alteration or modulation of nerve activity, by delivering electrical or pharmaceutical agents directly to the target area.
- Neuromodulation devices target nerves implicated in neurological disorders.
- These devices and treatments can be used in nearly every disease or symptom from headaches to tremors to spinal cord damage to urinary incontinence.
- There is a plethora of neuromodulation applications, such as chronic pain relief, deep brain stimulation (DBS) treatment for Parkinson’s disease, sacral nerve stimulation for pelvic disorders and incontinence, and spinal cord stimulation for ischemic disorders (angina, peripheral vascular disease).
- These devices and treatments can be used in nearly every disease or symptom from headaches to tremors to spinal cord damage to urinary incontinence.
- Technology trends in neuromodulation products:
- Miniaturization implantable pulse generators (IPGs)
- Improved lead technology
- Improved precision and targeting of nerves
- MRI compatibility
- Longer-life batteries, recharge-free systems
- Customizing therapy, patient tracking, wireless communication
- Expanding new indications and nerve targets
- Non-invasive peripheral & brain stimulation technologies
The global neuromodulation devices market report provides market size ($million 2019 to 2029), market share, growth trends and forecast (CAGR%, 2023 to 2029).
The global market for neuromodulation devices segmented by product (spinal cord stimulation devices, deep brain stimulation devices, sacral nerve stimulation devices, vagus nerve stimulation devices, gastric nerve stimulation devices, other devices), application (chronic pain management, central nervous system, gastroenterology and urology, other indications), end user (hospitals and ambulatory surgery centers, clinics and physiotherapy centers, academics and research) and geography.
- Based on the products, the spinal cord stimulation (SCS) devices segment dominated the market, mainly due to its enhanced effectiveness, introduction of MRI safety features, wireless controls and portability.
- The SCS devices are used in various applications, such as non-malignant chronic neuropathic pain management, peripheral nerve injuries, failed back surgery syndrome (FBSS ), complex regional pain syndrome (CRPS), peripheral vascular diseases and urinary incontinence.
- Some of the marketed SCS products include BurstDR Stimulation, Proclaim DRG System, Genesis, Eon Mini, Precision Plus SCS System, Intellis SCS System, Spectra Wavewriter, RestoreAdvanced, RestoreSensor, RestoreUltra, Senza II System, etc.
- However, the deep brain stimulation (DBS) devices segment predicted to grow at the fastest rate in the near future, due to increasing prevalence of neurological conditions and movement disorders such as Parkinson’s disease, epilepsy, dementia, as well as rapid development of numerous modalities to understand the structure and function of the brain.
- Neurostimulation as a treatment option for refractory neuropsychiatric disorders has been increasingly utilized in recent years. For patients with such refractory disorders who have often failed to respond to various medical interventions, deep brain stimulation has emerged as a promising treatment modality.
- Current data support DBS as a promising treatment option for neuropsychiatric disorders that do not respond to conventional treatments; however, it is clear that more research and patient volume is needed to demonstrate its efficacy in treating these conditions.
- The use of functional imaging to understand the pathophysiology of these disorders has been crucial for the utilization of DBS.
- Current data support DBS as a promising treatment option for neuropsychiatric disorders that do not respond to conventional treatments; however, it is clear that more research and patient volume is needed to demonstrate its efficacy in treating these conditions.
- Neurostimulation as a treatment option for refractory neuropsychiatric disorders has been increasingly utilized in recent years. For patients with such refractory disorders who have often failed to respond to various medical interventions, deep brain stimulation has emerged as a promising treatment modality.
- The sacral nerve stimulation (SNS) devices segment also predicted grow to moderately in the near future.
- The SNS products are used for treating chronic diseases such as urinary incontinence, overactive bladder (OAB) and fecal incontinence, by generating electrical impulses to stimulate the sacral nerve.
- Some of the SNS products available in the market include InterStim Therapy, NURO System, Urgent PC, and cochlear implants for hearing loss.
- The SNS products are used for treating chronic diseases such as urinary incontinence, overactive bladder (OAB) and fecal incontinence, by generating electrical impulses to stimulate the sacral nerve.
- The SCS devices are used in various applications, such as non-malignant chronic neuropathic pain management, peripheral nerve injuries, failed back surgery syndrome (FBSS ), complex regional pain syndrome (CRPS), peripheral vascular diseases and urinary incontinence.
The global neuromodulation products market research report is divided by geography (regional and country based) into North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Rest of EU), Asia Pacific (Japan, China, India, Rest of APAC), Latin America (Brazil, Mexico, Rest of LA) and Rest of the World.
- Geographically, the North America region accounted for the largest revenue share of total market and also expected to grow at the fastest single-digit CAGR during the forecast period.
- The growth factors include increasing prevalence of neurological diseases, new indications, rapidly aging population, strong product pipeline, technological advancements, and modern infrastructure in developing countries.
- On the other hand, the Asia Pacific market predicted to be the fastest-growing region with a double-digit growth rate, attributed to rising incidences of neurological disorders, government sponsored for patient awareness campaigns, large pool of patients, increasing elderly population, increasing adoption of implantable devices, and technological advancements.
The global market report also provides the detailed market landscape (market drivers, restraints, opportunities), market attractiveness analysis and profiles of major competitors in the global market including company overview, financial snapshot, key products, technologies and services offered, and recent developments.
Major competitors operating in the global market for neuromodulation products and included in this report are Abbott Laboratories, Inc. (St. Jude Medical, Inc.), Axonics Modulation Technologies, Inc., Bioventus LLC (Bioness, Inc.), BlueWind Medical Ltd., Boston Scientific Corporation, Laborie Medical (Cogentix Medical, Inc./Uroplasty, Inc.), LivaNova plc (Cyberonics, Inc.), Mainstay Medical Holdings plc (Mainstay Medical Ltd.), Medtronic plc (Advanced Uro-Solutions, LLC/Sapiens Steering Brain Stimulation GmbH), Nevro Corporation, NeuroPace, Inc., Neuronetics, Inc., NeuroSigma, Inc., ReShape Lifesciences, Inc. (EnteroMedics, Inc.), and StimWave Technologies, Inc.
- Product/ Technology
- Spinal Cord Stimulation (SCS) Devices
- Deep Brain Stimulation (DBS) Devices
- Sacral Nerve Stimulation (SNS) Devices
- Vagus Nerve Stimulation (VNS) Devices
- Gastric Nerve Stimulation (GNS) Devices
- Other Devices
- Application
- Chronic Pain Management
- Central Nervous System (CNS)
- Gastroenterology and Urology
- Other Indications
- End User
- Hospitals and Ambulatory Surgery Centers (ASCs)
- Clinics and Physiotherapy Centers
- Academics and Research
- Geography
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Rest of EU)
- Asia Pacific (Japan, China, India, Rest of APAC)
- Latin America (Brazil, Mexico, Rest of LA)
- Rest of the World
- Company Profiles
- Abbott Laboratories, Inc. (St. Jude Medical, Inc.)
- Axonics Modulation Technologies, Inc.
- Bioventus LLC (Bioness, Inc.)
- BlueWind Medical Ltd.
- Boston Scientific Corporation
- Laborie Medical (Cogentix Medical, Inc./Uroplasty, Inc.)
- LivaNova plc (Cyberonics, Inc.)
- Mainstay Medical Holdings plc (Mainstay Medical Ltd.)
- Medtronic plc (Advanced Uro-Solutions, LLC/Sapiens Steering Brain Stimulation GmbH)
- Nevro Corporation
- NeuroPace, Inc.
- Neuronetics, Inc.
- NeuroSigma, Inc.
- ReShape Lifesciences, Inc. (EnteroMedics, Inc.)
- StimWave Technologies, Inc.
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