Neuromodulation Market by Technology (Deep Brain Stimulation, Gastric Stimulation, Sacral Nerve Stimulation), Application (Chronic Pain, Dystonia, Essential Tremor) - Global Forecast 2024-2030

Neuromodulation Market by Technology (Deep Brain Stimulation, Gastric Stimulation, Sacral Nerve Stimulation), Application (Chronic Pain, Dystonia, Essential Tremor) - Global Forecast 2024-2030

The Neuromodulation Market size was estimated at USD 7.76 billion in 2023 and expected to reach USD 8.61 billion in 2024, at a CAGR 11.50% to reach USD 16.62 billion by 2030.

Neuromodulation devices and therapies are designed to deliver targeted electrical, chemical, or pharmaceutical agents to the nervous system in order to modulate its activity. This technology is primarily used for the treatment of various disorders, such as chronic pain, epilepsy, Parkinson's disease, and urinary incontinence, among others. Growing incidences of chronic pain and neurological disorders have created an urgent need for neuromodulation treatments. Furthermore, increased awareness about the benefits of neuromodulation techniques, rising healthcare expenditure, and government initiatives to promote access to neurological therapies are contributing to the growing adoption of neuromodulation. However, incidences of product recall of neuromodulation devices and systems and the possibility of safety and health risks hamper the widespread growth of the technology. Additionally, the invasiveness of the therapy, coupled with strict regulations regarding the approval of medical devices, can delay the adoption of neuromodulation strategies. However, key players are researching non-invasive methods to expand the patient reach and maintain patient compliance. Developing personalized neuromodulation therapies could provide superior outcomes by catering to individual patient needs and physiology. Advances in biocompatible materials, incorporating wireless technologies to control neuromodulation devices, and utilizing big data analytics to interpret neuromodulation outcomes can provide new opportunities for the growth of the technology.

Regional Insights

The Americas region, particularly the U.S. and Canada, is characterized by the presence of a robust healthcare architecture and favorable reimbursement and insurance policies, which has shaped the adoption of neuromodulation technologies. Additionally, the awareness regarding neurological disorders and mental health issues is high in this region, thereby driving the recognition of the technology among patients. The patient landscape reflects a preference for innovative, FDA-approved treatments and a willingness to adopt new technologies. The Americas region exhibits a robust patent landscape with ongoing research and substantial investments in the neuromodulation space, as companies and research institutions aim to advance the efficacy and scope of neuromodulation therapies. In the European Union, increased life expectancy and favorable reimbursement policies are significant factors driving the need for the neuromodulation market. Patient needs are centered around the management of chronic conditions prevalent in an aging population, and customer purchasing behavior is influenced by the healthcare coverage provided by public health systems. There is a focus on creating common standards and regulations across the EU to facilitate market access and ensure patient safety. The EU is characterized by stringent healthcare regulations, which have fuelled several innovations to improve the safety and precision of neuromodulation technologies. The increasing incidences of neurological diseases in countries such as India and China and a rapidly aging population in Japan have augmented the need for neuromodulation therapies. Health awareness and government initiatives to advance the healthcare infrastructure can create a robust ground for the growth of neuromodulation in the APAC region.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Neuromodulation Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rise in the aging population across the world and prevalence of neurological disorders
Research initiatives and clinical trials for neurostimulation systems and neuromodulation solutions
Government initiatives to expand access to therapies for neurological diseases and disorders

Market Restraints

Incidences of product recall of neuromodulation and neurostimulation devices or systems

Market Opportunities

Innovations to optimize the efficiency and safety of neuromodulation strategies
Ongoing approvals for neuromodulation devices and treatments across the world

Market Challenges

Invasiveness and technical limitations of the technology

Market Segmentation Analysis

Technology: Increasing need for deep brain stimulation therapies for movement disorders and psychiatric issues
Application: Rising incidences of Parkinson’s disease across the world

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Neuromodulation Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Neuromodulation Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

GrayMatters Health Launches New FDA-Cleared Self-Neuromodulation PTSD Therapy in the United States

GrayMatters Health announced the U.S. launch of its FDA-cleared self-neuromodulation therapy, specifically designed to address Post-Traumatic Stress Disorder (PTSD). This groundbreaking development is set to transform the treatment landscape for PTSD by offering individuals a non-invasive, user-friendly therapeutic option. GrayMatters Health's commitment to improving mental health outcomes is exemplified through this therapy, which promises to deliver substantial benefits for those struggling with the debilitating impacts of PTSD, ultimately contributing to the enhancement of patient quality of life and the evolution of mental health care practices.

Dr. Reddy’s Unveils Wearable for Migraine Management in India

Dr. Reddy's Laboratories embarked on a transformative venture by introducing a groundbreaking wearable device to manage migraines. Specifically engineered to offer non-invasive relief, the wearable employs advanced neuromodulation technology to alleviate migraine symptoms, providing patients with a novel therapeutic option that aligns with contemporary needs for convenience and ease of use.

Galderma Unveils Bold Ambition in Neuromodulation at Liquid Live Event

Galderma made a strategic announcement demonstrating its commitment to innovating within neuromodulation. During a dynamic 'Liquid Live' event, the company disclosed its visionary strategy to expand and invigorate its presence in the market. This plan to surge in neuromodulation is underpinned by a robust pipeline of cutting-edge products and a deepened investment in research and development.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Neuromodulation Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Neuromodulation Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, BioControl by Merck, BioElectronics Corporation, Boston Scientific Corporation, Dr Reddys Laboratories Limited, EndoStim, Inc., Galderma S.A., GrayMatters Health, Impulse Dynamics, Livanova, Mainstay Medical, Medtronic PLC, MicroTransponde, NeuroMetrix, Neuronetics, Inc., NeuroPace, Inc., NeuroSigma, Inc., Nevro Corp., Saluda Medical, SceneRay Corporation, Limited, Soterix Medical, and Synapse Biomedical.

Market Segmentation & Coverage

This research report categorizes the Neuromodulation Market to forecast the revenues and analyze trends in each of the following sub-markets:

Technology
Deep Brain Stimulation
Gastric Stimulation
Sacral Nerve Stimulation
Spinal Cord Stimulation
Vagus Nerve Stimulation
Application
Chronic Pain
Dystonia
Essential Tremor
Gastroparesis
Obsessive Compulsive Disorder
Parkinson’s Disease
Refractory Epilepsy
Treatment Resistant Depression
Urinary Fecal Incontinence
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year