Neuromodulation Industry Outlook, 2020-2025: An $8.8 Billion Opportunity Assessment with Profiles of Leading Market Players
DUBLIN, March 13, 2020 /PRNewswire/ -- The "Neuromodulation Market by Technology - Internal (Deep Brain Stimulation, Vagus Nerve Stimulation), External (Transcranial Magnetic Stimulation), Application (Ischemia, Chronic Pain, Parkinson's, Depression, Tremor, Epilepsy, Migraine) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global neuromodulation market size is projected to reach USD 8.8 billion by 2025 from USD 5.8 billion in 2020, at a CAGR of 8.6%.
The growth of this market is driven majorly by factors such as the rising prevalence of neurological disorders, increasing research into expanding the applications of neuromodulation, and awareness on neurodegenerative disorders. However, the high cost of neuromodulation procedures and equipment, along with the dearth of a trained workforce, will challenge market growth.
The prominent players operating in the global neuromodulation market include Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), LivaNova (UK), Synapse Biomedical, Inc. (US), Nevro Corporation (US), NeuroSigma (US), NeuroPace (US), Neuronetics (US), and BioControl Medical (Israel).
By technology, the internal neuromodulation segment is expected to grow at the highest CAGR during the forecast period.
Based on technology, the neuromodulation market is segmented into internal neuromodulation and external neuromodulation. The internal neuromodulation segment accounted for the largest market share in 2019. This segment is also expected to register the highest growth during the forecast period. This growth in this segment is driven primarily by reductions in post-surgical complications and length of hospital stay, as well as long-term cost savings associated with the use of internal neuromodulation devices.
By type, the transcutaneous electrical nerve stimulation (TENS) segment dominated the external neuromodulation market in 2019.
Based on type, the external neuromodulation market is segmented into transcutaneous electrical nerve stimulation (TENS), transcranial magnetic stimulation (TMS), and respiratory electrical stimulation (RES). TENS accounted for the largest share of the external neuromodulation market in 2019, owing to the higher incidence of chronic disorders, the wide range of applications of these devices, their cost-effectiveness, and the rising demand for non-invasive therapy.
Asia Pacific neuromodulation market is expected to witness the highest growth during the forecast period.
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily due to the high incidence of neurological disorders, increasing public and private investments, and ongoing research.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Neuromodulation: Market Overview
4.2 North America: Neuromodulation Market, By Technology (2019)
4.3 Global Spinal Cord Stimulation Market, By Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Prevalence of Neurological Disorders
5.2.1.2 Research Into Expanding the Applications of Neuromodulation
5.2.1.3 Rising Awareness on Neurodegenerative Disorders
5.2.2 Restraints
5.2.2.1 High Cost of Neuromodulation Procedures
5.2.3 Opportunities
5.2.3.1 Expansion in Emerging Economies
5.2.4 Challenges
5.2.4.1 Dearth of Trained Professionals
6 Neuromodulation Market, By Technology
6.1 Introduction
6.2 Internal Neuromodulation
6.2.1 Spinal Cord Stimulation
6.2.1.1 Rising Incidence of Indications and Efficacy & Reversibility of Procedure Have Supported the Adoption of Scs
6.2.2 Deep Brain Stimulation
6.2.2.1 Increasing Research has Driven the Development of Advanced Dbs Systems
6.2.3 Vagus Nerve Stimulation
6.2.3.1 Rising Disorder Incidence and Growing Geriatric Population are Driving Market Growth
6.2.4 Sacral Nerve Stimulation
6.2.4.1 Effectiveness of Sns and Rising Incidence of Urological Disorders are the Key Growth Drivers for This Market
6.2.5 Gastric Electrical Stimulation
6.2.5.1 Ges is Mainly Used for the Treatment of Gerd and Gastroparesis
6.3 External Neuromodulation
6.3.1 Transcutaneous Electrical Nerve Stimulation
6.3.1.1 Extensive Use in Healthcare, Low Cost, and Ease of Use Will Favor Market Growth
6.3.2 Transcranial Magnetic Stimulation
6.3.2.1 Minimal Patient Discomfort Associated With Tms has Supported the Demand for the Technology
6.3.3 Respiratory Electrical Stimulation
6.3.3.1 Increasing Incidence of Spinal Cord Injuries and High Treatment Efficacy Have Driven Market Growth
7 Neuromodulation Market, By Application
7.1 Introduction
7.2 Spinal Cord Stimulation, By Application
7.2.1 Chronic Pain
7.2.1.1 High Incidence of Chronic Pain Supports Market Growth
7.2.2 Failed Back Surgery Syndrome
7.2.2.1 Rising Incidence of Fbss has Driven Demand for Stimulation Technologies
7.2.3 Ischemia
7.2.3.1 High Incidence of Ischemia and Effectiveness of Neuromodulation Supports the Growth of the Market
7.3 Deep Brain Stimulation, By Application
7.3.1 Parkinson's Disease
7.3.1.1 Rising Incidence of Parkinson's Disease and Growing R&D Activity in This Area are Likely to Drive Market Growth
7.3.2 Tremors
7.3.2.1 High Efficacy of Dbs in Treating Tremors has Boosted Demand for the Technology
7.3.3 Depression
7.3.3.1 Use of Dbs in Depression Treatment is Restrained By A Lack of Evidence for Its Efficacy
7.3.4 Other Dbs Applications
7.4 Sacral Nerve Stimulation Market, By Application
7.4.1 Urinary Incontinence
7.4.1.1 High Incidence of Urinary Incontinence Offers Growth Opportunities
7.4.2 Fecal Incontinence
7.4.2.1 High Reductions in Symptom Recurrence Have Supported the Use of Sns in Fecal Incontinence Treatment
7.5 Vagus Nerve Stimulation, By Application
7.5.1 Epilepsy
7.5.1.1 Advantages Associated With Vns in the Treatment of Epilepsy are Expected to Drive the Market
7.5.2 Other Vns Applications
7.6 Gastric Electrical Stimulation, By Application
7.6.1 Gastroparesis
7.6.1.1 Ges Treatment Reduces Hospital Stay Duration for Patients Affected By Gastroparesis
7.6.2 Obesity
7.6.2.1 High Prevalence of Obesity and Benefits of Ges are Likely to Drive the Market
7.7 Transcutaneous Electrical Nerve Stimulation, By Application
7.7.1 Treatment-Resistant Depression
7.7.1.1 High Prevalence of Depression is Driving Market Growth
7.7.2 Other Tens Applications
7.8 Transcranial Magnetic Stimulation, By Application
7.8.1 Depression
7.8.1.1 Effectiveness of This Treatment Method and Its Increased Acceptance Among Patients are Driving Demand
7.8.2 Migraine
7.8.2.1 High Prevalence of Migraine is Expected to Increase the Demand for Transcranial Magnetic Stimulation
7.9 Respiratory Electrical Stimulation, By Application
7.9.1 Spinal Cord Injury
7.9.1.1 High Prevalence of Spinal Cord Injury is Likely to Drive Market Growth in the Future
8 Neuromodulation Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 Rising Prevalence of Chronic Diseases is Expected to Increase the Demand for Neuromodulation Devices in the US
8.2.2 Canada
8.2.2.1 Rising Healthcare Expenditure and Increasing Disease Prevalence Will Drive Demand for Neurostimulation
8.3 Europe
8.3.1 Germany
8.3.1.1 High Healthcare Expenditure and Favorable Government Initiatives Have Ensured Strong Market Growth in Germany
8.3.2 UK
8.3.2.1 High Investment By Public and Private Sectors Play an Important Role in the Growth of the Neuromodulation Market in the UK
8.3.3 France
8.3.3.1 Availability of Insurance and Favorable Healthcare Reforms Have Contributed to the Growth of the French Market
8.3.4 Italy
8.3.4.1 Easy Access to Healthcare Services has Supported the Use of Neuromodulation in Italy
8.3.5 Spain
8.3.5.1 The Growth of This Market Can Be Attributed to the Increasing Incidences of Chronic Diseases
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.1.1 Japan Dominates the APAC Market for Neuromodulation
8.4.2 China
8.4.2.1 Infrastructural Development, Aging Population, and Rising Disease Incidence Will Favor Market Growth in China
8.4.3 India
8.4.3.1 Improvements in Healthcare Infrastructure in the Country Will Support the Growth of the Neuromodulation Market
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.1.1 Latin America Holds the Largest Share of the Neuromodulation Market in the Row
8.5.2 Middle East & Africa
8.5.2.1 The High Cost of Neuromodulation Will Hamper Market Growth in the Region
9 Competitive Landscape
9.1 Overview
9.2 Market Share Analysis, 2019
9.3 Competitive Scenario
9.4 Competitive Leadership Mapping (Overall Market) (2019)
9.4.1 Visionary Leaders
9.4.2 Innovators
9.4.3 Dynamic Differentiators
9.4.4 Emerging Companies
10 Company Profiles
10.1 Medtronic
10.2 Boston Scientific Corporation
10.3 Abbott
10.4 Livanova
10.5 Nevro Corporation
10.6 Neurosigma, Inc.
10.7 Neuropace, Inc.
10.8 Biocontrol Medical
10.9 Synapse Biomedical
10.10 Neuronetics
10.11 Bioness
10.12 Soterix Medical
10.13 Integer Holdings Corporation
10.14 Bioinduction
10.15 Other Players
10.15.1 Gimer Medical
10.15.2 GTX Medical
10.15.3 Helius Medical Technologies
10.15.4 Microtransponder
10.15.5 Neuronano
10.15.6 Bluewind Medical
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