Neuromodulation Systems Market to be Worth $10.29 Billion by 2030

Neuromodulation Systems Market by Type (Spinal Cord, Sacral Nerve, Vagus Nerve, Deep Brain Stimulation), Application (Parkinson's Disease, Tremor, Depression, Epilepsy, Gastroparesis, Obesity, Psychiatry, Neurology, Pediatry) - Global Forecast to 2030

Meticulous Research^®—a leading global market research company, published a research report titled ‘Neuromodulation Systems Market by Type (Spinal Cord, Sacral Nerve, Vagus Nerve, Deep Brain Stimulation), Application (Parkinson's Disease, Tremor, Depression, Epilepsy, Gastroparesis, Obesity, Psychiatry, Neurology, Pediatry)—Global Forecast to 2030.’

According to this latest publication from Meticulous Research^®, the neuromodulation systems market is projected to reach $10.29 billion by 2030, at a CAGR of 8.2% during the forecast period. The factors driving the growth of this market are the high prevalence of neurological disorders and nerve injuries, advancements in neuromodulation & neurostimulation technologies, and expanding applications of neuromodulator systems due to clinical trials.

Furthermore, emerging economies and the increasing demand for non-invasive devices are expected to offer growth opportunities for market expansion. However, the shortage of skilled healthcare professionals and regulatory barriers and recall of neuromodulator systems pose a major challenge to the growth of the neuromodulation systems market.

Neuromodulation Systems Market: Future Outlook

The neuromodulation systems market is segmented based on Type (Internal Neuromodulation {Spinal Cord Stimulation, by Application [Failed Back Surgery Syndrome, Post-surgical Pain, Arachnoiditis, Other SCS Applications], Deep Brain Stimulation, by Application [Parkinson's Disease, Essential Tremor, Depression, Other DBS Applications], Sacral Nerve Stimulation, by Application [Urine incontinence, Fecal incontinence], Vagus Nerve Stimulation, by Application [Epilepsy, Depression], Gastric Electrical Stimulation, by Application [Gastroparesis, Obesity]}, External Neuromodulation {Transcranial Magnetic Stimulation, by Application [Psychiatry, Neurology, Pediatry, Other Applications], Transcutaneous Electrical Stimulation [Deperession, Other Applications], Respiratory Electrical Stimulation} and Geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.

Based on type, the neuromodulation systems market is segmented into internal neuromodulation and external neuromodulation. In 2023, the internal neuromodulation segment is expected to account for the largest share of the neuromodulation systems market. The large market share of this segment is attributed to the increased adoption of internal neuromodulation systems due to various benefits offered by these systems, such as higher efficiency compared to external neuromodulation, convenience for long-term use, customizable features, improved patient compliance, and increased safety.

Geographic Review:

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa. In 2023, North America is expected to hold the largest share of the neuromodulation systems market due to high R&D investments, the well-established and advanced healthcare system, the presence of prominent market players, and the high adoption of new technologies in the region.

Key Players:

The key players operating in the neuromodulation systems market include LivaNova PLC (U.K.), Nevro Corp. (U.S.), Medtronic plc (Ireland), Abbott Laboratories (U.S.), NeuroSigma, Inc. (U.S.), Neuronetics, Inc. (U.S.), NeuroPace, Inc. (U.S.), Bioventus Inc. (U.S.), MicroTransponder, Inc. (U.S.), Soterix Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), Synapse Biomedical Inc. (U.S.), and Aleva Neurotherapeutics SA (Switzerland).

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Key questions answered in the report-

Which are the high-growth market segments in terms of type and region/country?
What was the historical market for neuromodulation systems across the globe?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, challenges, opportunities, and trends in the neuromodulation systems market?
Who are the major players in the neuromodulation systems market?
What is the competitive landscape, and who are the market leaders in the neuromodulation systems market?
What are the recent developments in the neuromodulation systems market?
What are the different growth strategies adopted by major players in the neuromodulation systems market?
What are the geographical trends and high-growth regions/countries?

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