Neuromodulation Market by Technology, Application

List of Tables

[180 Pages Report] The Neuromodulation Market size was estimated at USD 7.76 billion in 2023 and expected to reach USD 8.61 billion in 2024, at a CAGR 11.50% to reach USD 16.62 billion by 2030.

Neuromodulation devices and therapies are designed to deliver targeted electrical, chemical, or pharmaceutical agents to the nervous system in order to modulate its activity. This technology is primarily used for the treatment of various disorders, such as chronic pain, epilepsy, Parkinson's disease, and urinary incontinence, among others. Growing incidences of chronic pain and neurological disorders have created an urgent need for neuromodulation treatments. Furthermore, increased awareness about the benefits of neuromodulation techniques, rising healthcare expenditure, and government initiatives to promote access to neurological therapies are contributing to the growing adoption of neuromodulation. However, incidences of product recall of neuromodulation devices and systems and the possibility of safety and health risks hamper the widespread growth of the technology. Additionally, the invasiveness of the therapy, coupled with strict regulations regarding the approval of medical devices, can delay the adoption of neuromodulation strategies. However, key players are researching non-invasive methods to expand the patient reach and maintain patient compliance. Developing personalized neuromodulation therapies could provide superior outcomes by catering to individual patient needs and physiology. Advances in biocompatible materials, incorporating wireless technologies to control neuromodulation devices, and utilizing big data analytics to interpret neuromodulation outcomes can provide new opportunities for the growth of the technology.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.76 billion
Estimated Year [2024]	USD 8.61 billion
Forecast Year [2030]	USD 16.62 billion
CAGR (%)	11.50%

Technology: Increasing need for deep brain stimulation therapies for movement disorders and psychiatric issues

Deep brain stimulation (DBS) is a treatment for targeting movement disorders such as Parkinson's disease, essential tremor, and dystonia. It involves the implantation of electrodes within certain areas of the brain, producing electrical impulses that regulate abnormal impulses. The need for DBS is generally based on the severity and responsiveness of the condition to other treatments. Gastric stimulation, also known as gastric electrical stimulation (GES), targets the stomach's muscles and nerves and is typically used for treating obesity and gastroparesis. The need arises when patients are unresponsive to traditional treatments and require alternative interventions to manage symptoms or weight. Sacral nerve stimulation is mainly used to treat urinary and fecal incontinence. Patients with incontinence who do not respond adequately to conservative therapies may be candidates for SNS, which involves the electrical stimulation of the sacral nerve through an implantable device. Spinal cord stimulation is a treatment strategy for chronic pain situations, including failed back surgery syndrome, complex regional pain syndrome, and chronic intractable pain. SCS is chosen when other pain management therapies fail to provide sufficient relief. It involves the delivery of low-voltage electrical stimulation to the spinal cord, which then blocks pain signals before they reach the brain. Vagus nerve stimulation is primarily used for the treatment of epilepsy and depression. VNS is considered for patients who are not suitable for surgery and whose conditions are refractory to medication. The therapy delivers electrical impulses to the vagus nerve to modulate neurotransmission.

Application: Rising incidences of Parkinson's disease across the world

Chronic pain treatment is one of the primary applications of neuromodulation. Devices such as spinal cord stimulators (SCS) can provide significant pain relief by sending electrical impulses to the spinal cord. Need-based preference emerges from the limitations of pharmacological treatments and the desire to avoid long-term opioid use. Neuromodulation for dystonia often involves deep brain stimulation (DBS) to reduce involuntary muscle contractions. Patient preference relies on procedural safety and the possibility of symptom improvement when medications are not adequate. Essential tremor is commonly addressed with DBS systems targeting the thalamus to suppress tremor symptoms. The need for these systems rises among patients who are unresponsive to medications. Gastroparesis, characterized by delayed stomach emptying, can be treated with gastric electrical stimulation. Obsessive-compulsive disorder (OCD) can be managed with DBS, targeting brain regions linked to the disorder for patients who don't respond to conventional treatment. Parkinson's disease treatment through neuromodulation mainly involves DBS, which can alleviate symptoms such as rigidity, bradykinesia, and tremor. This option becomes a preference when patients experience motor symptoms despite medication. Neuromodulation for refractory epilepsy includes vagus nerve stimulation (VNS) and responsive neurostimulation (RNS). These therapies are indicated for patients not suitable for surgery or those with intractable epilepsy. Treatment-resistant depression (TRD) can benefit from vagus nerve stimulation, which helps in modulating mood and emotional regulation pathways. Preference arises when multiple antidepressants fail to provide adequate clinical benefits. Sacral neuromodulation is effective for managing urinary and fecal incontinence, with acceptance increasing due to limited effective pharmaceutical options.

Regional Insights

The Americas region, particularly the U.S. and Canada, is characterized by the presence of a robust healthcare architecture and favorable reimbursement and insurance policies, which has shaped the adoption of neuromodulation technologies. Additionally, the awareness regarding neurological disorders and mental health issues is high in this region, thereby driving the recognition of the technology among patients. The patient landscape reflects a preference for innovative, FDA-approved treatments and a willingness to adopt new technologies. The Americas region exhibits a robust patent landscape with ongoing research and substantial investments in the neuromodulation space, as companies and research institutions aim to advance the efficacy and scope of neuromodulation therapies. In the European Union, increased life expectancy and favorable reimbursement policies are significant factors driving the need for the neuromodulation market. Patient needs are centered around the management of chronic conditions prevalent in an aging population, and customer purchasing behavior is influenced by the healthcare coverage provided by public health systems. There is a focus on creating common standards and regulations across the EU to facilitate market access and ensure patient safety. The EU is characterized by stringent healthcare regulations, which have fuelled several innovations to improve the safety and precision of neuromodulation technologies. The increasing incidences of neurological diseases in countries such as India and China and a rapidly aging population in Japan have augmented the need for neuromodulation therapies. Health awareness and government initiatives to advance the healthcare infrastructure can create a robust ground for the growth of neuromodulation in the APAC region.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Neuromodulation Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Neuromodulation Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Neuromodulation Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, BioControl by Merck, BioElectronics Corporation, Boston Scientific Corporation, Dr Reddys Laboratories Limited, EndoStim, Inc., Galderma S.A., GrayMatters Health, Impulse Dynamics, Livanova, Mainstay Medical, Medtronic PLC, MicroTransponde, NeuroMetrix, Neuronetics, Inc., NeuroPace, Inc., NeuroSigma, Inc., Nevro Corp., Saluda Medical, SceneRay Corporation, Limited, Soterix Medical, and Synapse Biomedical.

Market Segmentation & Coverage

This research report categorizes the Neuromodulation Market to forecast the revenues and analyze trends in each of the following sub-markets:

Technology
- Deep Brain Stimulation
- Gastric Stimulation
- Sacral Nerve Stimulation
- Spinal Cord Stimulation
- Vagus Nerve Stimulation

Application
- Chronic Pain
- Dystonia
- Essential Tremor
- Gastroparesis
- Obsessive Compulsive Disorder
- Parkinson's Disease
- Refractory Epilepsy
- Treatment Resistant Depression
- Urinary Fecal Incontinence

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Neuromodulation Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Neuromodulation Market?

3. What are the technology trends and regulatory frameworks in the Neuromodulation Market?

4. What is the market share of the leading vendors in the Neuromodulation Market?

5. Which modes and strategic moves are suitable for entering the Neuromodulation Market?

Product Code: MRR-036C5CF3B4DB

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rise in the aging population across the world and prevalence of neurological disorders
  - 5.1.1.2. Research initiatives and clinical trials for neurostimulation systems and neuromodulation solutions
  - 5.1.1.3. Government initiatives to expand access to therapies for neurological diseases and disorders
- 5.1.2. Restraints
  - 5.1.2.1. Incidences of product recall of neuromodulation and neurostimulation devices or systems
- 5.1.3. Opportunities
  - 5.1.3.1. Innovations to optimize the efficiency and safety of neuromodulation strategies
  - 5.1.3.2. Ongoing approvals for neuromodulation devices and treatments across the world
- 5.1.4. Challenges
  - 5.1.4.1. Invasiveness and technical limitations of the technology
5.2. Market Segmentation Analysis
- 5.2.1. Technology: Increasing need for deep brain stimulation therapies for movement disorders and psychiatric issues
- 5.2.2. Application: Rising incidences of Parkinson's disease across the world
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Neuromodulation Market, by Technology

6.1. Introduction
6.2. Deep Brain Stimulation
6.3. Gastric Stimulation
6.4. Sacral Nerve Stimulation
6.5. Spinal Cord Stimulation
6.6. Vagus Nerve Stimulation

7. Neuromodulation Market, by Application

7.1. Introduction
7.2. Chronic Pain
7.3. Dystonia
7.4. Essential Tremor
7.5. Gastroparesis
7.6. Obsessive Compulsive Disorder
7.7. Parkinson's Disease
7.8. Refractory Epilepsy
7.9. Treatment Resistant Depression
7.10. Urinary Fecal Incontinence

8. Americas Neuromodulation Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Neuromodulation Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Neuromodulation Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. GrayMatters Health Launches New FDA-Cleared Self-Neuromodulation PTSD Therapy in the United States
- 11.3.2. Dr. Reddy's Unveils Wearable for Migraine Management in India
- 11.3.3. Galderma Unveils Bold Ambition in Neuromodulation at Liquid Live Event
11.4. Strategy Analysis & Recommendation

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio