Neuromodulation Devices Market by Technology (Deep Brain Stimulation, Sacral Nerve Stimulation, Vagus Nerve Stimulation, Spinal Cord Stimulation), Application (Chronic Pain Management, Failed back syndrome, Epilepsy, Tremor, Incontinence, Depression, Dystonia, Gastroparesis, Parkinsons disease, Obsessive-Compulsive Disorder, Migraine) and Biomaterial (Metallic, Polymeric, Ceramic) – Global Opportunity Analysis and Industry Forecast, 2014 – 2022
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Neuromodulation is the alteration of nerve activity by delivering electrical impulses directly to a target area. Neurological disorders such as epilepsy, Alzheimer disease, cerebrovascular diseases, and Parkinsons disease affect the central and peripheral nervous system. Bacterial, viral, and fungal infections can also cause neurological disorders. Growth in the Neuromodulation devices market is attributed to increasing prevalence of neurological disorders due to rapidly rising geriatric population, increasing adoption of neuromodulation devices in developed countries, and growing focus of big players, such as Medtronic and Boston Scientific, on R&D in the segment.
The world neuromodulation devices market is estimated to reach $11,717 million by 2022. The market is expected to be driven by the increasing awareness about the safety and efficacy of neuromodulation devices, rising prevalence of neurological disorders and rising number of clinical trials worldwide for the development of innovative technologies in the field of neuromodulators. However, lack of trained healthcare professionals and stringent approval policies restrain the market growth.
The world neuromodulation devices market is segmented on the basis of product type, technology, application, material and geography. Based on product type, it is categorized into internal and external neuromodulation. Based on technology, Internal neuromodulation is segmented into five major segments, namely, deep brain stimulators, sacral nerve stimulators, spinal cord stimulators, vagus nerve stimulators and other neuromodulation devices. Similarly, based on technology external neuromodulation are classified into transcutaneous electrical nerve stimulation and repetitive transcranial magnetic stimulation.
Spinal cord stimulators generated the highest revenue in 2015, whereas the deep brain stimulation market is expected to grow fastest by a CAGR of 13.9%. By application, the market is segmented into the following nine segments: failed back syndrome, chronic pain management, epilepsy, tremors, urinary and fecal incontinence, depression, dystonia, gastroparesis, Parkinsons disease, obsessive-compulsive disorder, migraine, depression and other applications.
The report provides comprehensive analyses of the key players operating in the neuromodulation devices market such as Medtronic plc, St. Jude Medical, Inc., LivaNova PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA, BioControl Medical, Bioness Inc., EnteroMedics Inc, Nevro Corporation and NeuroPace Inc.
Key Market Benefits
– The study provides an in-depth analysis of the world neuromodulation devices market with current trends and future estimations to elucidate the imminent investment pockets.
– The report provides a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
– Extensive analysis by product helps in understanding the various types of devices used for the treatment of neurological diseases and other related conditions.
Key Market Segments
The world neuromodulation devices market is segmented based on technology, applications, material and geography.
– Internal neuromodulation
– Deep Brain Stimulation
– Sacral Nerve Stimulation
– Vagus Nerve Stimulation
– Spinal Cord Stimulation
– Other Neuromodulation Technologies
– External neuromodulation
– Transcutaneous Electrical Nerve Stimulation
– Transcranial Magnetic Stimulation
– Chronic Pain Management
– Failed back syndrome
– Urinary and Fecal Incontinence
– Parkinsons disease
– Obsessive-Compulsive Disorder
– Other Applications
– North America
Rest of Europe
Rest of Asia-Pacific
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