Neuromodulation Market Clinical Research Analysis 2020 to 2030
The Global Neuromodulation Market size was valued at USD 5.90 billion in 2019 and is predicted to reach USD 22.19 billion by 2030, with a CAGR of 12.8% from 2020-2030.
Neuromodulation
is controlled electric simulation of the central nervous system or the
peripheral nerve, to manage neural activity in the patient’s suffering from
neurological disorders such as cerebrovascular diseases, Alzheimer disease,
epilepsy, Parkinson's, as well as those caused by bacterial, viral, and fungal
infections. The electrodes are directly placed in the brain or peripheral
nerves or spinal cord, and pulse generators are implanted under the skin for
better results.
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Top Companies: Abbott, Medtronic, Boston Scientific
Corporation, Cochlear Ltd., Cyberonics Inc., Sonova, Nevro Corp., Advanced
Bionics AG, Integer Holdings Corporation, Neuronetics, NeuroPace Inc., Synapse Biomedical
Inc., Magstim, NeuroSigma Inc., LivaNova PLC, Soterix Medical Inc., Aleva
Neurotherapeutics Sa, ReShape Lifesciences Inc., Bioness Inc., DynaMD, BioAlps,
MED-EL, The Axonics SNM System, Johnson & Johnson Services Inc., Laborie,
Stimwave LLC, Functional Neuromodulation Ltd and others.
The global
neuromodulation market share has been analyzed based on technology, application,
biomaterial, and geography. Based on technology, the neuromodulation market is
classified into internal neuromodulation and external neuromodulation. The
internal neuromodulation segment is sub segmented into Deep Brain Stimulation,
Sacral Nerve Stimulation, Vagus Nerve Stimulation, Spinal Cord Stimulation, and
other. The external neuromodulation segment is further divided into
Transcutaneous Electrical Nerve Stimulation and Transcranial Magnetic
Stimulation. Based on application, the neuromodulation market is fragmented
into chronic pain management, failed back syndrome, epilepsy, tremor, urinary
and fecal incontinence, depression, dystonia, gastroparesis, Parkinson's
disease, Obsessive-Compulsive Disorder, migraine, and other. Based on
biomaterial, the neuromodulation market is divided into metallic biomaterials,
polymeric biomaterials, and ceramic biomaterials. Geographic breakdown and
analysis of each of the previously mentioned segments include regions comprising
North America, Europe, Asia-Pacific, and RoW.
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North
America is anticipated to account for major market share in the global
neuromodulation market throughout the forecast period, owing to
well-established healthcare infrastructures and medical laboratories, increased
prevalence of neurological disorders leading to higher adoption of the
neuromodulation and upsurge in clinical trials aimed at technological
advancements. Asia Pacific is estimated to show tremendous growth in the global
neuromodulation market with substantially increasing market share over the
forecast period, owing to rise in government initiatives to treat chronic
neurological disorders, and increase in the number of product launches.
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