Neuromodulation Devices Market
Neuromodulation devices stimulate nerves with electrical signals, pharmaceutical agents, or other forms of energy neurostimulation that provides pain relief by blocking the transmission of pain signals before they reach the brain. Neuromodulation devices are implantable medical devices, which introduce therapeutic solutions to some chronic diseases through electric stimulation or medication. Neuromodulation devices are segmented into five major technologies, namely: spinal cord stimulation devices, deep brain stimulation devices, vagus nerve stimulation devices, sacral nerve stimulation devices and gastric electric stimulation devices. Neuromodulation devices deliver electrical impulses to the nerves and the brain by treating disorders such as deafness, chronic pain, and Parkinson’s disease. Lectrical stimulation uses electrotherapy for treating spinal injuries and muscle weakness associated with neurological disorders. It has a property to activate electrical impulse and transmit signals to the electrodes of neuromodulation device, which causes depolarization and, in turn, reduces pain and improves the muscle strength. Different types of electrical stimulation devices are designed to treat various diseases such as pain management, obesity, and others.
Market Dynamics
Increasing product approvals by regulatory authorities are expected to drive the global neuromodulation devices market growth over the forecast period. For instance, on April 19, 2023, BIOTRONIK, a medical technology company, announced the U.S. Food and Drug Administration (FDA) approval for Prospera, a Spinal Cord Stimulation (SCS) system. The system features RESONANCE, the first and multiphase stimulation paradigm, paired with Embrace One, a patient-centric care model that makes proactive care possible by offering automatic, objective, daily remote monitoring, and ongoing management and support. This approval marks the launch of the company’s new business segment, BIOTRONIK Neuro.
Key features of the study:
This report provides an in-depth analysis of the global neuromodulation devices market, and provides market size (US$ Billion) and Compound Annual Growth Rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global neuromodulation devices market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
The key companies covered as a part of this study include Medtronic, BD, LivaNova, Axonics, Inc., ShiraTronics, Abbott, Bioventus, Neuronetics, NEVRO CORP, Integer Holdings Corporation, BIOTRONIK, NeuroPace, Inc., NeuroMetrix, Inc., Helius Medical Technologies, Inc., and Synapse Biomedical Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type upgrade, market expansion, and marketing tactics
The global neuromodulation devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global neuromodulation devices market
Detailed Segmentation:
Detailed Segmentation:
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