Impact Analysis of Covid-19

The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Neuromodulation devices are implantable medical devices, which introduce therapeutic solutions to some chronic diseases through electric stimulation or medication. Based on the type of diseases they help to curb and the type of nerves they are associated with, 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.

The global neuromodulation devices market is estimated to account for US$ 9,298.7 Mn in terms of value in 2020 and is expected to reach US$ 24,768.8 Mn by the end of 2027.

Global Neuromodulation Devices Market: Drivers

Increasing prevalence of neurological disorders is expected to propel growth of the global neuromodulation devices market over the forecast period. For instance, according to Alzheimer’s Association, around 5.8 million people in the U.S. aged 65 and older are living with Alzheimer's dementia in 2020.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.     

North America held dominant position in the global neuromodulation devices market in 2019, accounting for 58.6% share in terms of value, followed by Europe and Asia Pacific, respectively

Figure 1. Global Neuromodulation Devices Market Share (%), by Value, by Region, 2019

Neuromodulation Devices  | Coherent Market Insights

Global Neuromodulation Devices Market: Restraints

Side effects and risks associated with the use of neuromodulation devices are expected to hinder growth of the global neuromodulation devices market. Neuromodulation implanting surgery has certain side effects on the body such as allergy and hoarseness. The neuromodulation devices also carry some risks, owing to the electrical impulses generated by it. The device may cause damages to the nearby nerves and blood vessels, as in the case of a VNS pacemaker, it might cause damages to the vagus nerve, carotid artery and jugular veins.

Moreover, availability of alternate treatment procedures such as drugs and other surgeries (e.g. Pallidotomy) is also expected to limit growth of the market.

Global Neuromodulation Devices Market: Opportunities 

Outsourcing of neuromodulation devices manufacturing is expected to offer lucrative growth opportunities for players in the market. Development of a neuromodulation device involves heavy manufacturing and marketing costs. Market players can opt for outsourcing for manufacturing neuromodulation devices.

Moreover, R&D in neuromodulation is also expected to aid in growth of the market. For instance, in April 2020, researchers from Shandong Jianzhu University, China, proposed an expanded digital hippocampal spurt neural network to simulate the mammalian cognitive system and to perform the neuroregulatory dynamics.

The global neuromodulation devices market was valued at US$ 8,106.9 Mn in 2019 and is forecast to reach a value of US$ 24,768.8 Mn by 2027 at a CAGR of 15.0% between 2020 and 2027.

Figure 2. Global Neuromodulation Devices Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

Neuromodulation Devices  | Coherent Market Insights

Market Trends/Key Takeaways

The market has witnessed some product recalls. In December 2019, LivaNova announced to recall its implantable vagus nerve stimulation SenTiva Generator System following reports of 14 reset errors that caused it to stop delivering therapy.

The market is also witnessing favorable reimbursement scenario in Europe. For instance, in February 2020, Axonics Modulation Technologies, Inc. received Status 1 reimbursement approval to the Axonics r-SNM System, a next generation rechargeable implantable neurostimulator, from the German Institute for the Hospital Remuneration System.

Regulations

U.S.

  • Medical devices are categorized into one of three classes based on their degree of risk: Class I Class II, and Class III
  • Majority of neurological devices are classified as class II (moderate risk) or class III (high risk) devices.
  • Class II devices include neurostimulators, aneurysm clips, and blood clot retrievers
  • Class III devices include deep brain stimulators and medical devices for the treatment of brain tumors

Global Neuromodulation Devices Market: Competitive Landscape

Major players operating in the global neuromodulation devices market include, Axonics Modulation Technologies, Inc., ShiraTronics, Inc., Bioness, Inc., LivaNova, Neuronetics, Inc., Medtronic plc, St. Jude Medical, Boston Scientific Corporation, Cyberonics, Nevro, Integer Holdings Corporation, and Uroplasty.

Global Neuromodulation Devices Market: Key Developments

Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in March 2020, Neuronetics, Inc., a commercial stage medical technology company developing solutions for the treatment of psychiatric disorders, received Breakthrough Device Designation for its NeuroStar Advanced Therapy System for the treatment of bipolar depression, from the U.S. Food and Drug Administration.

Similarly, in January 2020, Bioness, Inc. received CE Mark approval for its StimRouter Neuromodulation System for the treatment of fecal incontinence, across Europe.

Electrical stimulation uses electrotherapy for treating spinal injuries and muscle weakness associated with neurological disorders. It has property to activate electrical impulse and transmit signal to electrodes of device, which causes depolarization and in turn reduces pain and improves muscle strength. Different types of electrical stimulation devices are designed to treat various diseases such as pain management, obesity, and others.

Restraints of the Global Neuromodulation Devices Market

Side effects and risks associated with the use of neuromodulation devices are expected to hinder growth of the global neuromodulation devices market.

Key features of the study:

  • This report provides in-depth analysis of the global neuromodulation devices market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global neuromodulation devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include Axonics Modulation Technologies, Inc., ShiraTronics, Inc., Bioness, Inc., LivaNova, Neuronetics, Inc., Medtronic plc, St. Jude Medical, Boston Scientific Corporation, Cyberonics, Nevro, Integer Holdings Corporation, and Uroplasty
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, 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 market.

Detailed Segmentation

  • Global Neuromodulation Devices Market, By Device Type:
    • Spinal Cord Stimulation Devices
    • Deep Brain Stimulation Devices
    • Sacral Nerve Stimulation Devices
    • Vagus Nerve Stimulation Devices
    • Gastric Electric Stimulation Devices
  • Global Neuromodulation Devices Market, By Application:
    • Pain Management
    • Neurological and Movement Disorder Management
    • Musculoskeletal Disorder Management
    • Metabolism & GIT Management
    • Incontinence Management
    • Others
  • Global Neuromodulation Devices Market, By End User:
    • Hospitals
    • Specialty Clinics
    • Ambulatory Centers
    • Others
  • Global Neuromodulation Devices Market, By Geography:
    • North America
      • By Device Type
        • Spinal Cord Stimulation Devices
        • Deep Brain Stimulation Devices
        • Sacral Nerve Stimulation Devices
        • Vagus Nerve Stimulation Devices
        • Gastric Electric Stimulation Devices
      • By Application:
        • Pain Management
        • Neurological and Movement Disorder Management
        • Musculoskeletal Disorder Management
        • Metabolism & GIT Management
        • Incontinence Management
        • Others
      • By End User
        • Hospitals
        • Specialty Clinics
        • Ambulatory Centers
        • Others
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Device Type
        • Spinal Cord Stimulation Devices
        • Deep Brain Stimulation Devices
        • Sacral Nerve Stimulation Devices
        • Vagus Nerve Stimulation Devices
        • Gastric Electric Stimulation Devices
      • By Application:
        • Pain Management
        • Neurological and Movement Disorder Management
        • Musculoskeletal Disorder Management
        • Metabolism & GIT Management
        • Incontinence Management
        • Others
      • By End User
        • Hospitals
        • Specialty Clinics
        • Ambulatory Centers
        • Others
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Device Type
        • Spinal Cord Stimulation Devices
        • Deep Brain Stimulation Devices
        • Sacral Nerve Stimulation Devices
        • Vagus Nerve Stimulation Devices
        • Gastric Electric Stimulation Devices
      • By Application:
        • Pain Management
        • Neurological and Movement Disorder Management
        • Musculoskeletal Disorder Management
        • Metabolism & GIT Management
        • Incontinence Management
        • Others
      • By End User
        • Hospitals
        • Specialty Clinics
        • Ambulatory Centers
        • Others
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Device Type
        • Spinal Cord Stimulation Devices
        • Deep Brain Stimulation Devices
        • Sacral Nerve Stimulation Devices
        • Vagus Nerve Stimulation Devices
        • Gastric Electric Stimulation Devices
      • By Application:
        • Pain Management
        • Neurological and Movement Disorder Management
        • Musculoskeletal Disorder Management
        • Metabolism & GIT Management
        • Incontinence Management
        • Others
      • By End User
        • Hospitals
        • Specialty Clinics
        • Ambulatory Centers
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East:
      • By Device Type
        • Spinal Cord Stimulation Devices
        • Deep Brain Stimulation Devices
        • Sacral Nerve Stimulation Devices
        • Vagus Nerve Stimulation Devices
        • Gastric Electric Stimulation Devices
      • By Application:
        • Pain Management
        • Neurological and Movement Disorder Management
        • Musculoskeletal Disorder Management
        • Metabolism & GIT Management
        • Incontinence Management
        • Others
      • By End User
        • Hospitals
        • Specialty Clinics
        • Ambulatory Centers
        • Others
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Device Type
        • Spinal Cord Stimulation Devices
        • Deep Brain Stimulation Devices
        • Sacral Nerve Stimulation Devices
        • Vagus Nerve Stimulation Devices
        • Gastric Electric Stimulation Devices
      • By Application:
        • Pain Management
        • Neurological and Movement Disorder Management
        • Musculoskeletal Disorder Management
        • Metabolism & GIT Management
        • Incontinence Management
        • Others
      • By End User
        • Hospitals
        • Specialty Clinics
        • Ambulatory Centers
        • Others
      • By Country/Region:
        • Central Africa
        • South Africa
        • North Africa
  • Company Profiles
    • Axonics Modulation Technologies, Inc.* 
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • ShiraTronics, Inc.
    • Bioness, Inc.
    • LivaNova
    • Neuronetics, Inc.
    • Medtronic plc
    • Jude Medical
    • Boston Scientific Corporation
    • Cyberonics
    • Nevro
    • Integer Holdings Corporation
    • Uroplasty

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Device Type
      • Market Snippet, By Application
      • Market Snippet, By End User
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Technological Advancement
    • Regulatory Scenario
  4. Global Neuromodulation Devices Market, By Device Type, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Spinal Cord Stimulation Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • Deep Brain Stimulation Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • Sacral Nerve Stimulation Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • Vagus Nerve Stimulation Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • Gastric Electric Stimulation Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
  5. Global Neuromodulation Devices Market, By Application, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Pain Management
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Neurological and Movement Disorder Management
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Musculoskeletal Disorder Management
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Metabolism & GIT Management
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Incontinence Management
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
  6. Global Neuromodulation Devices Market, By End User, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Specialty Clinics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Ambulatory Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
  7. Global Neuromodulation Devices Market, By Regions, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  8. Competitive Landscape
    • Company Profiles
      • Axonics Modulation Technologies, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • ShiraTronics, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Bioness, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • LivaNova
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Neuronetics, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Medtronic plc
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • St. Jude Medical
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Boston Scientific Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Cyberonics
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Nevro
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Integer Holdings Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Uroplasty
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 37 market data tables and 25 figures on “Neuromodulation Devices Market – Global forecast to 2027.

Frequently Asked Questions

The global neuromodulation devices market size was valued at US$ 8,106.9 Mn in 2019 and is forecast to reach a value of US$ 24,768.8 Mn by 2027 at a CAGR of 15.0% between 2020 and 2027.
Spinal Cord Stimulation Devices segment held the major market share in 2019 owing to Increasing prevalence of neurological disorders during the forecast period.
Major factor driving the growth of global neuromodulation devices market during the forecast period increasing prevalence of neurodegenerative diseases, and increasing demand for treatment with medical devices.
Major factors hampering the growth of the neuromodulation devices market during the forecast period constitutes of side effects and risks associated with the use of neuromodulation devices.
North America neuromodulation devices market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Axonics Modulation Technologies, Inc., ShiraTronics, Inc., Bioness, Inc., LivaNova, Neuronetics, Inc., Medtronic plc, St. Jude Medical, Boston Scientific Corporation, Cyberonics, Nevro, Integer Holdings Corporation, and Uroplasty.
Existing Clientele

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients

Our Trusted Patner