About Neuromodulation Devices
Neuromodulation is a technology which is used for the modulation of the nerve activity. It is used to treat the people who are suffering from such condition such as Parkinson’s disease, psychological disorders, essential tremor, urinary, fecal incontinence, chronic pain, and others. There are a number of forms of neuromodulation such as Spinal Cord Stimulation (SCS), Peripheral Nerve Stimulation (PNS) and Deep Brain Stimulation (DBS). Rising geriatric population in developed countries such as, the U.S., Europe, and Japan in developing countries, the rising incidence of neurological disorders and awareness among people and high prevalence of disease conditions, namely chronic pain and Parkinson’s disease, are some of the major drivers which are propelling the growth of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
CAGR | 12.6% |
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global neuromodulation devices market can witness an upsurge in the forecast period. Analyst at AMA Research estimates that United Kingdom Players will contribute the maximum growth to Europe Neuromodulation Devices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Medical, Inc. (United States.), LivaNova PLC (United Kingdom), Boston Scientific Corporation (United States),, Aleva Neurotherapeutics SA (United States), Bioness Inc. (United States), EnteroMedics Inc (United States), Nevro Corporation (United States), NeuroPace Inc. (United States), Synapse Biomedical, Inc. (United States) and Neurosigma, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Neuronetics, Inc. (United States), Cyberonics, Inc. (United States), BioControl Medical (Israel),, Accellent (United States), DynaMD (United States) and Soterix Medical, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Europe Neuromodulation Devices market by Type (Internal Neuromodulation and External Neuromodulation), Application (Depression, Parkinsons Disease, Tremor and Others) and Region.
On the basis of geography, the market of Neuromodulation Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by End Users, the sub-segment i.e. Hospitals will boost the Neuromodulation Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Bio Material , the sub-segment i.e. Metallic will boost the Neuromodulation Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancement of Neuromodulation Devices
Market Growth Drivers:
Rising Incidence of Neurological Disorders and Increasing Awareness among People and New Neuromodulation Devices Approval by Regulatory Bodies
Challenges:
High Price of Neuromodulation Devices Products
Restraints:
Lack of Trained Healthcare Professionals and Stringent Approval Policies
Opportunities:
Rising Demand from Emerging Economics Such As India, China and Others and Awareness Regarding Mental Disorders and Increasing Expenditure in the Healthcare Sector
Market Leaders and their expansionary development strategies
On December 2017, the LivaNova PLC (United Kingdom) Company had acquired ImThera Medical, Inc. (United States), which is a privately held company and it is focused on neurostimulation for the treatment of obstructive sleep apnea and On April 2016, the Abbott Laboratories (United States) Company had acquired St. Jude Medical (United States), which manufactures new medical device products across neuromodulation, cardiovascular, vision patient care. This acquisition will benefit increase the diversification of the products, services and long-term prospects
On January 2019, the SpineX Company had launched Non-Invasive neuromodulation Devices in order to improve the quality of lives for the patient. It will benefit the increased product portfolio of the company
On January 2018, as per an article published by the Food and Drug Administration, to determine the most efficient regulatory pathway for bringing a medical device such as Neuromodulation to the United States market.
Key Target Audience
Manufacturers of Neuromodulation Devices, Suppliers of Neuromodulation Devices Parts, Wholesalers, Distributors and Retailers of Neuromodulation Devices, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.