NEW YORK, June 04, 2019 (GLOBE NEWSWIRE) -- The global neuromodulation devices market is expected to grow significantly from USD 5,120 Million in 2018 to USD 10,200 Million in 2025, at a CAGR of 10.3% from 2019 to 2025. Factors driving the market growth are; rising prevalence of neurological diseases across the globe, government initiative for product approvals and investments, and rising geriatric population across the globe. In addition, growing use in SCS technology, increasing awareness for neuromodulation, and new product launches are further boosting the industry growth.
Neuromodulation devices are advanced medical tools that improve nervous system activities. Neuromodulation devices affect every area of the body and treat nearly every disease such as spinal cord damage, headaches, tremors, and urinary incontinence, among others. Moreover, these devices have a broad therapeutic scope, and significant ongoing improvements in biotechnology sector are resulting in major growth of the market.
Additionally, there is an increased demand for neuromodulation devices due to growing aging population which suffers from diseases such as Parkinson, epilepsy, Alzheimer’s, and spinal cord injury. The therapies for these diseases are dominated by neuromodulation devices. Moreover, clinical evidence supporting the use of neurostimulation to treat multiple conditions and growing investments in product development is further driving the industry growth.
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Key findings from the report:
• The global neuromodulation devices market is expected to reach USD 10,200 Million by 2025 at a CAGR of 10.3% during 2019-2025
• Based on Technology,
- The Spinal Cord Stimulation (SCS) segment held the major share of the market in 2018. The growth is attributed to the advancements in technologies, improving implantation techniques, and growing awareness.
- The Deep Brain Stimulation (DBS) segment is expected to emerge as the fastest growing technology over the forecast period
• On the basis of Application, the Pain Management segment held the major share of the market in 2018
• Geographically, Asia-Pacific region is expected to witness highest CAGR during the 2019-2025
• Some of the key companies operating in the market include Medtronic; NeuroPace, Inc.; Abbot; Boston Scientific Corporation; ALEVA NEUROTHERAPEUTICS SA; Stimwave LLC; Nevro Corp.; Integer Holdings Corporation; Bioness Inc.; and LivaNova PLC, among others
The report provides the market value for the base year 2018 and a yearly forecast till 2025 in terms of revenue (USD Million). The report segments neuromodulation devices market on the basis of technology, application, end-user, and region.
By Technology
• Internal Neuromodulation
- Deep Brain Stimulation (DBS)
- Sacral Nerve Stimulation (SNS)
- Spinal Cord Stimulation (SCS)
- Vagus Nerve Stimulation (VNS)
- Gastric Electrical Stimulation (GES)
• External Neuromodulation
- Transcranial Magnetic Stimulation
- Transcutaneous Electrical Nerve Stimulation
- Respiratory Electrical Stimulation
By Application
- Pain Management
- Parkinson's
- Urinary and Fecal Incontinence
- Dystonia
- Depression
- Epilepsy
- Others
By End-User
- Hospitals
- Home Setting
- Clinics
By Region
- North America
- Europe
- Asia-Pacific
- Central & South America
- Middle East and Africa (MEA)
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