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Neuromodulation Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3204

Neuromodulation Market Size is predicted to witness significant momentum from 2022 to 2028 due to the rapidly expanding geriatric population and the rising number of research activities. The increasing burden of neurological disorders, including Alzheimer’s and Parkinson’s diseases along with chronic pain, has made way for the surging awareness pertaining to the safety and efficiency of neurostimulator devices.

Neuromodulation is a technology that acts directly upon nerves by altering or modulating their activities by delivering electrical and pharmaceutical agents directly to a target area. The rising clinical application scope of the devices will act as a significant attribute for the neuromodulation market progression.

However, the limitations of trained healthcare workforce, the optimum costs of neuromodulation procedures and equipment, as well as strict approval policies, are some factors negatively influencing the market penetration.

Based on technology, the neuromodulation market revenue from the Deep brain stimulation (DBS) segment will expand with the increasing threat of neurological conditions, like Parkinson’s Disease (PD), epilepsy, and depression. According to the Parkinson’s Foundation, over 10 million people across the globe are living with PD. DBS is a surgical intervention that is employed to treat patients suffering from movement disorders, including essential tremors, and dystonia. It is also deployed for controlling symptoms related to obsessive-compulsive disorder. The rising emphasis of product manufacturers on researches and bringing innovations in existing DBS systems will anchor the segment growth.

Demand for neuromodulation in tremor applications is poised to rise with the higher availability of numerous implantable deep brain stimulators. The growing prevalence of tremors worldwide is a major contributor to the segment expansion.  As per estimates, about 24.91 million were affected by ET (Essential Tremor) in 2020. The surge in the number of FDA approvals for neurostimulators has resulted in increasing technological enhancements in these devices, pushing the market revenue growth.

On the other hand, the industry share from the Parkinson’s Disease applications will increase with the rising number of R&D activities. The growing burden of the disorder will also add positive impetus to the market expansion.

Geographically, the neuromodulation market share in North America is anticipated to rise with the fast-growing pharmaceutical and biopharmaceutical sectors. The escalating count of several chronic conditions has led to the thriving need for treatment and diagnosis, adding an edge to the increased demand for neuromodulation devices.

The surge in regulatory approvals along with the growing number of investments and research activities notably in the U.S. has steered the higher deployment and development of advanced technologies. The expanding end-user industries, robust presence of major market players, and the multiple opportunities for new entrants are other factors leading to the regional industry progression.

Leading neuromodulation market participants include Neuropace, Inc., Nevro Corporation, Boston Scientific Corporation, Medtronic, Inc, Biocontrol Medical, Cyberonics, Inc., Neuronetics, Inc., ST. Jude Medical, Inc. (St. Jude Medical Luxembourg Holding S.a r.l.), Synapse Biomedical, Inc., and Neurosigma, Inc.

Strategic collaborations, including acquisitions, and partnerships as well as R&D investments, and new product launches and approvals are actively implemented by these companies to increase their competitive power while widening their geographical presence.

For instance, in August 2020, NeuroPace secured $67 million for supporting the commercial expansion of its technology deployed for refractory focal epilepsy in a bid to advance its strides in neuromodulation therapy.

Effect of the COVID-19 pandemic on the neuromodulation market forecast

The COVID-19 outbreak and its resulting disruptions have had a positive impact on the demand for neuromodulation techniques and devices. This is ascribing to the growing adoption of non-invasive neuromodulation measures for managing disorders related to the virus. The rising number of research activities and the growing incursion of neuromodulation treatment as a promising therapy for combating the lingering adverse effects of several patients post the clearance of the infection added an edge to the industry outlook amid the crisis.

The neuromodulation market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028 for the following segments:

Market, by product

  • Transcutaneous supraorbital neurostimulator
  • Single pulse transcranial magnetic stimulator
  • Non-invasive vagus nerve stimulator

Market, by technology

  • Internal Neuromodulation
  • Deep Brain Stimulation (DBS)
  • Vagus Nerve Stimulation (VNS)
  • Sacral Nerve Stimulation (SNS)
  • Spinal Cord Stimulation (SCS)
  • Gastric Electrical Stimulation (GES)
  • External Neuromodulation (Non-Invasive)
  • Transcutaneous Electrical Nerve Stimulation (Tens)
  • Transcranial Magnetic Stimulation (TMS)
  • Respiratory Electrical Stimulation (RES)

Market, by application

  • Parkinson's disease
  • Depression
  • Chronic pain
  • Failed back surgery
  • Ischemia
  • Urine incontinence
  • Fecal incontinence
  • Epilepsy
  • Gastroparesis
  • Tremor
  • Obesity
  • Migraine headache
  • Spinal cord injury
  • Other

Market, by bio-material

  • Ceramic biomaterials
  • Metallic biomaterials
  • Polymeric biomaterials

Market, by end-use

  • Hospitals
  • Clinics
  • Home healthcare
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
  • Latin America
    • Mexico
    • Brazil
  • Middle East and Africa
    • Saudi Arabia
    • South Africa


What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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