Dublin, Feb. 12, 2024 (GLOBE NEWSWIRE) -- The "Neuromodulation Devices Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
Revenue for the neuromodulation devices market is forecast to surpass US$10 billion in 2024, with strong revenue growth through to 2034.
Surging Demand for Deep Brain Stimulation (DBS) in Neuromodulation
The demand for deep brain stimulation (DBS) in neuromodulation has experienced a notable surge, driven by factors such as expanded applications, technological advancements, positive clinical outcomes, progress in neurological research, and increased awareness among patients and healthcare providers.
This surge reflects the growing acceptance of DBS as an effective therapeutic intervention for various neurological disorders. Ongoing developments in the field of neuromodulation continue to contribute to the increased demand for DBS, showcasing its potential to address diverse medical conditions and improve patient outcomes.
Complications Associated with Usage of Neuromodulation Devices
The use of neuromodulation devices, while offering therapeutic benefits, is not without potential complications. Complications associated with these devices can include infection at the implantation site, hardware malfunctions, lead migration or breakage, and adverse reactions to electrical stimulation. Additionally, patients may experience side effects such as tingling, pain, or muscle contractions.
Proper patient selection, precise surgical placement, and ongoing monitoring are crucial to minimizing risks. Despite the efficacy of neuromodulation, the potential for complications underscores the importance of careful patient evaluation, thorough preoperative planning, and vigilant postoperative management to ensure the safe and effective use of these devices in managing various neurological conditions.
Key Market Dynamics
Market Driving Factors
- Growing Demand for Deep Brain Stimulator Neuromodulation Devices in Pharmaceutical and Biotechnology Industry
- Rising Prevalence of Neurological Disorders and Nerve Injuries
- Growing Preference Among Patients for Non-invasive Treatments
- Expanded Therapeutic Applications of Neuromodulation Devices
- Technological Advancements in Neuromodulation Devices
Market Restraining Factors
- Complications Associated with Usage of Neuromodulation Devices
- High Cost of Neuromodulation Devices
- Stringent Regulatory Framework and a Thorough Approval Process
- Preference for Drug Therapies over Neuromodulation Products
- Product Recalls in the Neuromodulation Devices
- Lack of Skilled Healthcare Practitioners
Market Opportunities
- Rising Demand for Minimally Invasive Surgeries in Developed Countries
- Increasing Number of Elderly Patients with Neurological Disorders
Segments Covered in the Report
By Product:
- Deep Brain Stimulator
- Gastric Electric Stimulator
- Spinal Cord Stimulator
- Sacral Nerve Stimulator
- Vagus Nerve Stimulator
- Transcutaneous Electrical Nerve Stimulator
By Application:
- Pain Management
- Epilepsy
- Essential Tremor
- Urinary and Fecal Incontinence
- Depression
- Dystonia
- Gastroparesis
- Parkinson's Disease
Forecasts to 2034 and other analyses reveal commercial prospects:
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Neuromodulation devices prices and recent developments.
Leading companies profiled in the report:
- Abbott
- Boston Scientific Corporation
- electroCore, Inc.
- Helbling Holding AG
- Innovative Health Solutions
- LivaNova
- Medtronic
- MicroTransponder Inc.
- Neuronetics Inc.
- Parasym
- Synapse Biomedical Inc.
- tVNS Technologies GmbH
The report provides you with the following knowledge:-
- Revenue forecasts to 2034 for Neuromodulation devices market, 2024 to 2034 Market, with forecasts for product, application and route of administration, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for five regional and 21 key national markets - See forecasts for the Neuromodulation devices market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 12 of the major companies involved in the Neuromodulation devices market, 2024 to 2034.
For more information about this report visit https://www.researchandmarkets.com/r/vwi22t
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