Dublin, May 14, 2024 (GLOBE NEWSWIRE) -- The "Neuromodulation Devices Market Size and Forecasts 2020 - 2030, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type, Application, Biomaterial, and End User" report has been added to ResearchAndMarkets.com's offering.
The global neuromodulation devices market is projected to experience substantial growth over the next decade. Valued at US$ 5.73 billion in 2022, the market is forecasted to reach an impressive US$ 11.61 billion by 2030, with an estimated Compound Annual Growth Rate (CAGR) of 9.2% from 2022 to 2030. Such expansion underscores the growing reliance on neuromodulation devices for a multitude of medical conditions.
Addressing a Spectrum of Medical Challenges
Neuromodulation devices represent a significant advance in medical technology, catering to a variety of disorders encompassing movement conditions, sensory disabilities, epilepsy, chronic pain, and more. The heightened prevalence of diseases such as epilepsy, migraines, and spinal cord injuries, as recorded by the World Health Organization (WHO), is instrumental in the burgeoning demand for these innovative devices. This upsurge is particularly evident in spinal cord stimulation which is gaining traction as a preferable method for chronic back pain relief.
Market Dynamics by Application
Segmentation of the market by application illustrates that spinal cord stimulation (SCS) leads in market share, demonstrating the technique's established use and promising potential for treating an extending array of ailments. Notably, SCS has been acknowledged for its effectiveness, safety, and cost efficiency in the realm of chronic pain management.
Advancements in Biomaterials
Within the biomaterials category, metallic biomaterials are currently dominating the market due to their indispensable properties such as durability and electrical conductivity, which are critical for neuromodulation devices. Polymers, anticipated to register the highest CAGR through 2022-2030, are also gaining prominence owing to their flexible applications in neuromodulation devices.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $5.73 Billion |
| Forecasted Market Value (USD) by 2030 | $11.61 Billion |
| Compound Annual Growth Rate | 9.2% |
A selection of companies mentioned in this report includes, but is not limited to:
- Abbott (St. Jude Medical, Inc.)
- LivaNova PLC
- Boston Scientific Corporation
- Aleva Neurotherapeutics SA
- Bioventus
- EnteroMedics Inc.
- Nevro Corporation
- NeuroPace Inc.
- Synapse Biomedical, Inc.
- Neurosigma, Inc
For more information about this report visit https://www.researchandmarkets.com/r/t2ul3n
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