Neuromodulation Market Size, Share and Forecast Analysis to 2030

Future of Executive Summary Neuromodulation Market: Key Dynamics, Size & Share Analysis

The Global Neuromodulation Market size is estimated to grow at a CAGR of around 10.3% during the forecast period, i.e., 2024-30. The Global Neuromodulation market has experienced significant growth driven by the increasing instances of cases of neurological diseases like migraine, epilepsy, depression, etc. Also, there is an increasing demand for non-invasive surgical procedures amongst patients, owing to less amount of physical pain related to these methods. Hence, a neuromodulation procedure requires implantable devices and instruments to deliver stimulation to targeted nerves, which further supports the increased adoption of neuromodulation techniques.

Top Market Challenges Impacting the Neuromodulation Market Growth

Highly Regulated Environment a Huge Obstacle for the Neuromodulation Market- Due to stringent standards and requirements, implanted neuromodulating devices are designed to stay in contact with the human body for an extended period. The devices, such as SCS, VNS, DBS, etc., fall under the category of Class III medical devices according to US FDA standards and are obliged to go through a strict and expensive PMA process, sometimes requiring prolonged clinical trials of over 450 days. Moreover, the recent regulations make it compulsory for the compliance of neurostimulation devices approved for the last three years and extend to those manufacturers exporting to EU member states from countries outside the EU. Therefore, the strict regulatory environment poses a significant challenge to the growth of the Global Neuromodulation Market during the forecast period.

Understanding the Core Segments in the Neuromodulation Market

Neuromodulation Market Size, Share & Industry Trends Analysis-By Type (Internal Neuromodulation, (Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, Gastric Electrical Stimulation), External Neuromodulation, (Transcutaneous Electrical Nerve Stimulation (TENS), Transcranial Magnetic Stimulation (TMS), Respiratory Electrical Stimulation)), By Application (Neuromodulation for Spinal Cord Stimulation, (Chronic Pain, Failed Back Surgery Syndrome (FBSS), Ischemia), Neuromodulation for Deep Brain Stimulation, (Parkinson’s Disease, Tremors, Depression, Others).

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Geographical Analysis of the Neuromodulation Market

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

North America has been witnessing high growth in the Global Neuromodulation Market and, at the same time, is projected to maintain its growth momentum over the next couple of years, mainly due to the United States.

Who Dominates the Neuromodulation Market Insights on Key Industry Players?

Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.d

Medtronic Plc
Abbott Laboratories
Boston Scientific Corporation
NeuroSigma, Inc.
Neuropace Inc.
Softerix Medical Inc.
Aleva Neurotherapeutics
Synapse Biomedical Inc.
Theranica Bio-Electronics Ltd.
Neuronetics
Axonics, Inc.
Gimer Medical
Nalu Medical, Inc.
Helius Medical Technologies, Inc.
MicroTransponder Inc. and others.

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