Neuromodulation Market by Technology (Internal Neuromodulation, External Neuromodulation), by Application (Chronic Pain, Urinary and Fecal Incontinence, Migraine, Failed Back Syndrome, Parkinson’s Disease, Epilepsy, Tremor, Depression, Other Applications), by Biomaterial (Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America), The global Neuromodulation Market size is projected to reach a CAGR of 11.2% from 2023-2030.

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The prominent players in Neuromodulation Market are

• Abbott
• Aleva
• Neurotherapeutics SA.
• Boston Scientific Corporation
• LivaNova
• Medtronic
• MicroTransponder
• Neuronetics
• NeuroPace Inc.
• NeuroSigma
• Nevro Corporation and More

Neurological disorders are defined as disorders that affect the brain as well as the nerves found throughout the human body and the spinal cord. Acute spinal cord injury, Alzheimer’s disease, amyotrophic lateral sclerosis (ALS), ataxia, bell's palsy, brain tumors, cerebral aneurysm, epilepsy, and seizures are some of the common neurological disorders.

The biochemical, structural, or electrical abnormalities in the brain, spinal cord, or other nerves result in a wide range of symptoms, such as memory loss, impaired mental ability, lack of coordination, and persistent or sudden onset of a headache. Neuromodulation technology utilizes devices that bring about a change in the nervous system either by stimulation or by modulating brain activity. These are used when the traditional treatments have failed to evoke the desired response.

The growth of the global neuromodulation market size is majorly driven by the increase in the prevalence of different types of neurological disorders, such as Alzheimer’s disease, dementia stroke, and brain tumors. Moreover, the advantages of neuromodulation device therapies over traditional drug treatment are expected to fuel their adoption in the analysis period.

The rise in the prevalence of epilepsy boosts the neuromodulation market growth. Furthermore, leading players have increased their R&D activities on neurostimulation devices, and surged the growth of the neuromodulation industry.

On the other hand, the high cost of devices and lack of awareness about neuromodulation devices impede the growth of the market.

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Regional Analysis

North America to Dominate the Market

• North America garnered the major share in the neuromodulation market in 2021 and is expected to dominate the global market during the forecast period.
• The growth is due to the rise in the prevalence of neurological diseases, the presence of key players in the development of neuromodulation devices, and the well-established infrastructure in the region.

Recent Developments

In February 2022, Medtronic (Ireland) received FDA approval for its InterStim X System, a next-generation personalized sacral nerve stimulation therapy for bladder and bowel control.

In June 2021, NeuroSigma (US) and KT Corporation (South Korea) signed a memorandum of understanding for a strategic partnership to develop and commercialize, inside and outside of Korea, electronic therapies treating neurological and neuropsychological disorders, including ADHD, depression, and epilepsy.

Neuromodulation Market is segmented into various segments such as technology, application, biomaterial, and region:

On the basis of technology

• Internal Neuromodulation
• External Neuromodulation

On the basis of application

• Chronic Pain
• Urinary And Fecal Incontinence
• Migraine
• Failed Back Syndrome
• Parkinson Disease
• Epilepsy
• Tremor
• Depression
• Other Applications

On the basis of biomaterial

• Metallic Biomaterials
• Polymeric Biomaterials
• Ceramic Biomaterials

On the basis of region

• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa

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