Global Neuromodulation Market Size, Share, Forecast Report, 2020-2027

The global neuromodulation market is projected to reach USD 8.8 billion by 2025 from USD 5.8 billion in 2020, at a CAGR of 8.6% between 2020 and 2025. The growth of this market is driven majorly by the rising prevalence of neurological disorders, increasing research into expanding the applications of neuromodulation, and awareness on neurodegenerative disorders. However, the high cost of neuromodulation procedures and equipment, along with the dearth of a trained workforce, is expected to restrain the growth of this market during the forecast period.
Based on application, the deep brain stimulation market is segmented into Parkinson’s disease, tremor, depression, and other DBS applications. Parkinson’s disease accounted for the largest share of this market in 2019. The growth of this segment is attributed to the rising incidence of the disease and growing R&D activity in this area.
The Asia Pacific is expected to grow at the highest rate in the market. The major factors driving the growth of this market include the high incidence of neurological disorders, increasing public and private investments, and ongoing research.

Key Market Players
The prominent players in the neuromodulation market include Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), LivaNova (UK), Synapse Biomedical, Inc. (US), Nevro Corporation (US), NeuroSigma (US), NeuroPace (US), Neuronetics (US), and BioControl Medical (Israel). Major players have focused on product launches, agreements, and partnerships to increase their shares in the global market.

Medtronic is one of the leading players in the market. The company’s leading position can be attributed to its wide portfolio of neuromodulation devices and strong geographical footprint. The company operates in the US, Europe, and the Asia Pacific. It serves clinicians, physicians, hospitals, and patients in more than 160 countries. R&D is a key area of focus for Medtronic—it invested USD 2,330 million in 2019, as compared to USD 2,256 million in 2018 and USD 2,193 million in 2017. The company also focuses on organic as well as inorganic growth strategies to gain a competitive edge.

By Technology

• Internal Neuromodulation
  • Spinal Cord Stimulation
  • Deep Brain Stimulation
  • Vagus Nerve Stimulation
  • Sacral Nerve Stimulation
  • Gastric Electrical Stimulation
• External Neuromodulation
  • Transcutaneous Electrical Nerve Stimulation (TENS)
  • Transcranial Magnetic Stimulation (TMS)
  • Respiratory Electrical Stimulation (RES)

By Application

• Spinal Cord Stimulation Market, By Application
  • Failed Back Syndrome
  • Chronic Pain
  • Ischemia
• Deep Brain Stimulation Market, By Application
  • Parkinson’s Disease
  • Tremor
  • Depression
  • Other DBS Applications
• Sacral Nerve Stimulation Market, By Application
  • Urine Incontinence
  • Fecal Incontinence
• Vagus Nerve Stimulation Market, By Application
  • Epilepsy
  • Other VNS Applications
• Gastric Electrical Stimulation Market, By Application
  • Gastroparesis
  • Obesity
• Transcutaneous Electrical Nerve Stimulation Market, By Application
  • Treatment-resistant Depression
  • Other TENS Applications
• Transcranial Magnetic Stimulation Market, By Application
  • Depression
  • Migraine Headache
• Respiratory Electrical Stimulation Market, By Application
  • Spinal Cord Injury

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • RoE
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific
• Rest of the World
  • Latin America
  • Middle East and Africa