1. Market Research
  2. > Healthcare
  3. > Pathology
  4. > Mental Health Market Trends
Global Neuromodulation Market Size, Share & Industry Trends Analysis Report By Technology, By Biomaterial, By Application, By Regional Outlook and Forecast, 2022 – 2028

Global Neuromodulation Market Size, Share & Industry Trends Analysis Report By Technology, By Biomaterial, By Application, By Regional Outlook and Forecast, 2022 – 2028

  • April 2022
  • 241 pages
  • ID: 6283452
  • Format: PDF
  • KBV Research

Summary

Table of Contents

The Global Neuromodulation Market size is expected to reach $3.8 billion by 2028, rising at a market growth of 6.0% CAGR during the forecast period.

Neuromodulators are a type of neurotransmitter that is a subgroup of neurotransmitters. Neuromodulators, unlike neurotransmitters, are released in a diffused way. This indicates that exposure to the neuromodulator could expose a complete neural tissue to its effects. As a result, the neuronal circuitry of an entire brain region, rather than simply a single neuron, may be tuned.

The growing incidence of various types of neurological illnesses, such as Alzheimer’s disease, dementia, stroke, and brain tumors, is driving the expansion of the neuromodulation market. The increase in the prevalence of brain illnesses and the use of neuromodulation devices in developed nations are both contributing to the expansion of the neuromodulation market share. Deep brain stimulation (DBS) is a technique for treating epilepsy and Parkinson’s disease. The market for neuromodulation is growing as the prevalence of epilepsy rises. Epilepsy, for example, is a chronic non-communicable brain disorder that affects people of all ages, according to the World Health Organization (WHO) in February 2022. According to the same source, around 50 million people across the world have been diagnosed with epilepsy.

Furthermore, the increase in the geriatric population aided the market’s expansion. Alzheimer’s along with other neurological disorders are more common in the elderly population. According to the Alzheimer’s Association, a non-profit organization, approximately 6.2 million Americans aged 65 and older were diagnosed with Alzheimer’s dementia in 2021.

COVID-19 Impact

Since most hospitals are closed owing to continuous lockdowns in numerous countries, the COVID-19 pandemic has had a negative effect on the neuromodulation market’s growth. COVID-19’s spread resulted in severe public health concerns. However, a large number of clinics and hospitals around the world have been reformed in order to improve hospital capacity and deliver better healthcare. In addition, neuromodulation sales have decreased across multiple regions due to a fall in both new patient and service implant procedures. Plenty of people who otherwise would have gotten tested for their mental illnesses has had to avoid visiting hospitals because of the risk of the infection. In most countries around the world, only patients with severe conditions were allowed to visit hospitals since the hospital beds were all occupied by severely afflicted COVID-19 patients.

Market Growth Factors

Rising Demand for Deep Brain Stimulation

Deep brain stimulation (DBS) uses electrodes coupled to a pulse generator implanted in the patient’s body to continuously administer low bipolar or monopolar electric impulses, activating a tiny portion of the brain. DBS is used to treat pain, epilepsy, movement disorders like tremors, Parkinson’s disease, dystonia, and psychiatric disorders like Tourette syndrome, obsessive-compulsive disorder, and depression, among others. Manufacturers are now working to improve their existing DBS systems while also designing the next generation of devices. DBS is being targeted to different parts of the brain by researchers, who are testing the treatment on distinct groups of Parkinson’s patients.

Rising Incidence of drug resistant chronic conditions

A considerable number of the patient population suffering from chronic illnesses such as chronic back pain, depression, epilepsy, and sleep apnea, among others, is displaying medication and drug resistance. Resistance manifests itself in the form of slow treatment progression and delayed or limited effects. As a result, healthcare professionals are focusing more on neurostimulation techniques for the treatment of chronic illnesses, which is propelling the neuromodulation devices market forward. Epilepsy, treatment-resistant depression, and other chronic diseases impose a significant financial burden on countries in terms of patient treatment.

Market Restraining Factors

Low Diagnosis and Treatment Rates in Developing Countries

In developing countries, the prevalence of neurological diseases such as epilepsy, depression, and others is increasing at an incredible rate. Despite having a substantially larger frequency, emerging countries have lower diagnostic rates, which limits the number of individuals who require treatment. Lower diagnosis rates in these nations are attributed to a variety of causes, including a lack of public awareness and limited access to diagnostic facilities due to inadequate healthcare infrastructure. Low income is also one of the leading factors which forbid some people from visiting the hospital and getting tests done to arrive at the correct diagnosis.

Technology Outlook

Based on Technology, the market is segmented into Internal and External. The internal segment acquired the largest revenue share in the neuromodulation market in 2021. The significant demand for this technology is due to the growing incidence rate of the chronic leg, back, and arm pain, as well as the applicability of this technology in the effective management of these chronic pains. Due to an increase in the incidence of Parkinson’s disease and an increase in product approval for neurological disease treatment, the internal modulation technology would be in demand in the upcoming years.

Biomaterial Outlook

Based on Biomaterial, the market is segmented into Metallic, Polymeric, and Ceramic. The polymeric segment procured a substantial revenue share in the neuromodulation market in 2021. Polymeric biomaterials (biopolymers) are materials that can be employed for long or short periods of time in physiological conditions. Polymeric biomaterials cover the widest range of synthetic and hybrid materials now employed in medicine. This factor is increasing the growth of this segment of the neuromodulation market.

Application Outlook

Based on Application, the market is segmented into Chronic Pain, Urinary & Fecal Incontinence, Migraine, Failed Back Syndrome, Parkinson Disease, Epilepsy, Tremor, Depression, and Others. The chronic pain segment acquired the largest revenue share in the neuromodulation market in 2021. Due to an increase in the prevalence of chronic disease and increased R&D activity in the healthcare sector, the demand for neuromodulation in rapidly surging. In addition, the increasing adoption of sedentary lifestyle in people all over the world is one of the major factors that is increasing the instances of chronic pain in these people. This factor would play a major role in accelerating the growth of this segment.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the largest revenue share in the neuromodulation market in 2021. The significant growth of the regional market is attributed to the rise in prevalence of neurological diseases, the presence of key players in the regional neuromodulation market, and well-established infrastructure in the region. The presence of key market players and large pharmaceutical and biopharmaceutical industries, as well as increased investments in the country for the adoption of innovative technologies, is likely to support the regional market’s expansion.

The major strategies followed by the market participants are Approvals and Trials. Based on the Analysis presented in the Cardinal matrix; Abbott Laboratories is the forerunners in the Neuromodulation Market. Companies such as MicroTransponder Inc., Boston Scientific Corporation are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, LivaNova PLC, Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, NeuroSigma, Inc., NeuroPace, Inc., Neuronetics, Inc., MicroTransponder Inc., and Bioventus Inc.

Recent Strategies deployed in Neuromodulation Market

Partnerships, Collaborations, and Agreements

Jun-2021: NeuroSigma entered into a partnership with KT Corporation, a telecommunication company based in South Korea. The partnership aimed at developing and commercializing, inside and outside of Korea, electronic therapies treating neurological and neuropsychological disorders, such as depression, ADHD, and epilepsy. Through this partnership with NeuroSigma, KT supported the design and development of the next-generation category of eTNS products integrating big data, artificial intelligence (AI), and cloud capabilities. Additionally, KT also supported advanced monitoring and AI analysis services, offered via its digital healthcare platform, and the commercialization and manufacturing partnerships in Korea.

Feb-2020: LivaNova teamed up with Verily, an Alphabet company. The collaboration aimed at capturing measures of depression within its RECOVER clinical study, which was analyzing the efficacy of Vagus Nerve Stimulation Therapy (VNS Therapy) for difficult-to-treat Depression (DTD). Under the collaboration with Verily, LivaNova built on its work to study depression and understand the complicated elements that contribute to the disorder, improving its capacity to treat patients who have it.

Oct-2019: NeuroSigma entered into a partnership with Teijin Limited, a chemical, pharmaceutical, and information technology company based in Japan. The partnership granted Teijin Pharma, Teijin’s healthcare business, exclusive rights to NeuroSigma’s TNS patent rights in Japan related to attention deficit hyperactivity disorder (ADHD), and market the Monarch eTNS System for the non-invasive treatment of ADHD in Japan.

Approvals and Trials

Mar-2022: Bioventus received FDA approval for the next generation StimRouter Neuromodulation System. This system is used for the therapy of chronic pain of peripheral nerve origin, excluding craniofacial pain. The newly approved StimRouter system offers a similar clinically tested, long-term pain relief while substantially improving the patient’s control and user experience.

Jan-2022: Nevro received FDA approval for expanded labeling for its Senza Spinal Cord Stimulation (SCS) System for the treatment of Non-Surgical Refractory Back Pain (NSRBP). The SENZA-NSRBP study participants who were given 10 kHz Therapy showed great improvements in function, pain relief, awareness of positive change in quality of life, and reduction in everyday opioid use versus Conventional Medical Management.

Aug-2021: MicroTransponder received FDA approval for Vivistim paired VNS system for chronic ischemic stroke rehabilitation. This system, Vivistim electrically stimulates the vagus nerve to decrease deficiencies in upper limb and extremity motor function and to enhance patients’ capacity to move their arms and hands. Under the skin in the patient’s chest, an implantable pulse generator is implanted with a lead wire that leads up to electrodes placed on the left side of the neck where the vagus nerve is.

Jun-2021: LivaNova received FDA approval for proceeding with its, “Treating Obstructive Sleep Apnea using Targeted Hypoglossal Neurostimulation (OSPREY)”, an investigational device exemption (IDE) clinical study. The aura6000 was developed to sustain muscle tone of the tongue and upper airway so that airway blockage and resulting sleep apnea are substantially decreased or removed. The OSPREY study was used to analyze the apnea-hypopnea index responder rate of subjects with device stimulation activated to decide whether it is statistically higher than the rate of subjects without stimulation. The overall safety and efficacy of the device in its ability to treat patients with OSA were evaluated.

Acquisitions and Mergers

Aug-2021: Medtronic acquired Intersect ENT, a world leader in ear, nose, and throat (ENT) medical technology devoted to transforming patient care. The acquisition enabled Medtronic to expand its portfolio of products used during ear, nose, and throat procedures. The complementary customer base and product lines would further enhance Medtronic’s efforts to have a positive impact on patients who suffer from chronic rhinosinusitis (CRS).

Mar-2021: Bioventus completed the acquisition of Bioness, a key player in neuromodulation and rehabilitation medical equipment through its ingenious peripheral nerve stimulation therapy and premium rehabilitation solutions. The acquisition matched Bioventus’ goal of assisting patients to regain active lifestyles and the strategy of accretive revenue growth through acquisitions that leverage the Company’s existing infrastructure.

Jan-2020: Medtronic completed the acquisition of Stimgenics, the pioneer of a new spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM) Spinal Cord Stimulation. The therapy is a novel and distinctive programming option to treat patients with chronic pain. It is delivered via the Medtronic Intellis platform. The DTM waveform had a more significant impact on the neural-glial interaction than other frequencies.

Product Launches and Product Expansions

May-2022: Medtronic unveiled CareGuidePro, a smartphone application and web portal. CareGuidePro is Medtronic’s foremost patient-centric digital health system designed for spinal cord stimulation patients, planned as a seamless solution that would merge into the care provider’s workflow. This digital health system paves the way for a more engaging and informative patient experience that results in a better physician-patient dialogue, leading to improved therapy management.

Mar-2021: Abbott launched NeuroSphere Virtual Clinic, an unparalleled technology that permits patients to communicate with physicians, ensure proper settings and functionality, and receive new treatment settings remotely as required. Through this product, Physicians can communicate and digitally prescribe new stimulation settings remotely, enabling them to expand care beyond their clinic walls and optimize therapy management using NeuroSphere Virtual Clinic.

Geographical Expansions

Mar-2022: Boston Scientific Corporation expanded its geographical footprint by launching its R&D Center in Pune. The expansion aimed to capitalize on the country’s R&D expertise and offer varied opportunities for engineers and innovators in India. The R&D Center provided expertise to all of the company’s therapy areas, specifically peripheral interventions, interventional cardiology, cardiac rhythm management, neuromodulation, endoscopy, and urology and pelvic health. The R&D team provided support in the fields of software engineering, mechanical design, and analysis, sustaining engineering, quality, and compliance.

Scope of the Study

Market Segments covered in the Report:

By Technology

• Internal

• External

By Biomaterial

• Metallic

• Polymeric

• Ceramic

By Application

• Chronic Pain

• Urinary & Fecal Incontinence

• Migraine

• Failed Back Syndrome

• Parkinson Disease

• Epilepsy

• Tremor

• Depression

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Medtronic PLC

• LivaNova PLC

• Boston Scientific Corporation

• Abbott Laboratories

• Nevro Corporation

• NeuroSigma, Inc.

• NeuroPace, Inc.

• Neuronetics, Inc.

• MicroTransponder Inc.

• Bioventus Inc.

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Muscle Stimulator Market Research Report by Product, Modality, Application, End-user, Region - Global Forecast to 2027 - Cumulative Impact of COVID-19

  • $ 3949
  • July 2022
  • 258 pages

Muscle Stimulator Market Research Report by Product (Burst Mode Alternating Current, Functional Electrical Stimulation, and Interferential), Modality, Application, End-user, Region (Americas, Asia-Pacific, ...

  • World
  • Clinic
  • Electric Power
  • Industry analysis

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on