Future Scope Of Neuromodulation Devices Market By Top Key Players
Neuromodulation device is involved in directly treating the nervous system itself, often through small implanted devices that target a specific area, to rebalance the activity of neural circuits and manage symptoms as varied as severe unremitting neuropathic pain to severe movement disorders such as Parkinson’s disease, or urgency urinary or fecal incontinence due to overactive bladder or pelvic floor injury. The working of neuromodulation involves either active stimulation of the nerves to deliver a biological response which is natural otherwise through the application of specific pharmaceutical agents given in very small dosages directly to the required site of action. Substantial prevalence of neurological disorders, notable clinical trials involving neuromodulation devices, and rising awareness on neurodegenerative disorders have increased the demand of neuromodulation devices market
Market Segmentation:
By Device Type
By Disease Indication
By Biomaterial
By End User
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Competitve Landscape:
Key players in the global neuromodulation devices market include Neurometrix, Inc., St. Jude Medical, Inc., Synapse Biomedical, Inc., Nevro Corporation, Neurosigma, Inc., Medtronic Plc, Neuropace, Inc., Boston Scientific Corporation, Cyberonics, Inc., Biocontrol Medical, Neuronetics, Inc., Aleva Neurotherapeutics SA, EnteroMedics Inc., Bioness Inc.
The players have adopted a product development strategy to strengthen their position in the market. For instance, in June 2020, Nevro Corporation has announced the launch and marketing of Nevro Omnia spinal cord stimulation system in Australia. Also, in June 2020, Masimo has launched a percutaneous neurostimulator, worn behind the ear, designed to reduce opioid withdrawal symptoms. In addition to this, in June 2020, Neurspera Medical Inc. announced the first chronic clinical implants of its wireless sacral nerve stimulator in a pivotal trial in patients with urinary urge incontinence. These developments not only enable the companies to expand their product portfolio but also to expand their footprints in different regions and countries.
Market Taxonomy:
By Device Type
Internal Neuromodulation
Spinal Cord Stimulation (SCS)
Deep Brain Stimulation (DBS)
Vagus Nerve Stimulation (VNS)
Sacral Nerve Stimulation (SNS)
Gastric Electrical Stimulation (GES)
External Neuromodulation (Non-Invasive)
Transcutaneous Electrical Nerve Stimulation (TENS)
Transcutaneous Electrical Nerve Stimulation (TENS)
Transcranial Magnetic Stimulation (TMS)
Respiratory Electrical Stimulation (RES)
By Disease Indication
Spinal Cord Stimulation (SCS)
Chronic Pain Management
Failed Back Syndrome (FBSS)
Ischemia
Deep Brain Stimulation (DBS)
Parkinson’s Disease
Tremor
Depression
Other
Sacral Nerve Stimulation
Urine Incontinence
Fecal Incontinence
Vagus Nerve Stimulation
Epilepsy
Other
Gastric Electrical Stimulation
Gastroparesis
Obesity
Transcutaneous Electrical Nerve Stimulation
Treatment-Resistant Depression
Other
Repetitive Transcranial Magnetic Stimulation
Depression
Migraine Headache
Respiratory Electrical Stimulation
Spinal Cord Injury
Others
By Biomaterial
Metallic Biomaterials
Polymeric Biomaterials
Ceramic Biomaterials
Others
By End User
Hospitals
Clinics
Home Healthcare
Others
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Market Dynamics:
Substantial prevalence of neurological disorders acts as a key market driver because greater is the occurrence of neurological disorders more would be the need for deployment of neuromodulation devices to provide support in the treatment of the neurological disorder. For instance, according to the European Academy of Neurology (EAN) 2020 publication, more than half of the European population (approximately 60%) suffers from a neurological disease. neurological diseases are expected to be a major cause of disease and subsequent death and holds third rank among all the key disease groups prevalent in Europe. Only roughly 85,000 neurologists are available to provide care for around 900 million citizens across Europe, which is a large number compared with other macro-regions of the world and is not enough to fulfill current needs. Hence, there's a substantial requirement of neuromodulation devices to support the treatment of the neurological disorder. Notable clinical trials involving neuromodulation devices also contribute to market growth. However, substantially high entry barriers for new market players due to unfavorable reimbursement scenarios, stringent government regulations, lack of trained professionals, and requirement of high capital investment acts as some of significant restraints for the growth of the market.
By Region:
North America (USA, Canada, and Mexico)
Europe (Germany, France, the United Kingdom, Netherlands, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, rest of countries, etc.)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Nigeria, and South Africa)
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