Neuromodulation Devices Market Size, Share & Trends Analysis Report By Product (Spinal Cord Stimulation, Deep Brain Stimulation), By Application (Migraine, Epilepsy), By End Use, By Region, And Segment Forecasts, 2024 - 2030
Neuromodulation Devices Market Growth & Trends
The global neuromodulation devices market size is anticipated to reach USD 10.39 billion by 2030, growing at a CAGR of 10.2% from 2024-2030, according to a new report by Grand View Research, Inc. The market's growth can be attributed to factors such as rising prevalence of neurological disorders, rising government support to R&D and development of advanced solutions with increased range of applications.
Significant funding from government and private agencies plays a crucial role in advancing the understanding of neurological disorders and improving treatment options. By allocating resources to research initiatives, governments actively facilitate groundbreaking discoveries, encourage technological innovations, and promote the development of more effective neuromodulation technologies. For instance, in August 2024, the Parkinson's Foundation announced an investment of nearly USD 3 million in 33 research grants aimed at advancing the understanding and treatment of Parkinson's disease (PD). This funding will support innovative research projects focusing on various aspects of PD, including its causes, progression, and potential therapies. The grants are part of the Foundation's commitment to fostering scientific advancements that can lead to improved patient outcomes. This financial backing is vital for shaping the treatment landscape for neurological disorders and driving positive changes in patient care.
Furthermore, the increasing accessibility of these advanced devices to patients and healthcare professionals has further increased their adoption. Expanding reimbursement is improving patient access to these advanced therapies. In recent years, healthcare systems have increasingly acknowledged the effectiveness of neuromodulation devices in managing chronic pain, neurological disorders, and various other medical conditions, which has led many healthcare payers to include these devices in their coverage policies. For instance, in February 2024, Nerivio Remote Electrical Neuromodulation (REN) wearable by Theranica became the first non-pharmacological migraine treatment to get commercial coverage in the U.S. from Highmark Inc. The wearable offers acute and preventive treatment options, demonstrating significant clinical benefits in reducing migraine symptoms. Thus, the growing acceptance of neuromodulation therapies among payers is driving market growth.
Neuromodulation Devices Market Report Highlights
- Based on product, the spinal cord stimulators segment held the largest market share in 2023. This is attributed to the owing to the increasing acceptance of these devices for chronic pain treatment
- Based on application, the Parkinson’s disease held the largest market share in 2023. This is attributed to the rising prevalence of Parkinson’s disease coupled with increasing efforts by market players to develop innovative solutions for Parkinson’s disease
- Based on end use, the hospitals and ambulatory surgical centers segment dominated the market with the largest market share in 2023. This is due to the increasing adoption of advanced solutions in these facilities to enhance patient care and improve outcomes
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased Database
- 1.4.2. GVR’s Internal Database
- 1.5. Details of primary research
- 1.5.1. Data for primary interviews in North America
- 1.5.2. Data for primary interviews in Europe
- 1.5.3. Data for primary interviews in Asia Pacific
- 1.5.4. Data for primary interviews in Latin America
- 1.5.5. Data for Primary interviews in MEA
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity flow analysis (Model 1)
- 1.7.1.1. Approach 1: Commodity flow approach
- 1.7.2. Volume price analysis (Model 2)
- 1.7.2.1. Approach 2: Volume price analysis
- 1.8. Research Scope and Assumptions
- 1.8.1. List of Secondary Sources
- 1.8.2. List of Primary Sources
- 1.8.3. Objectives
- Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
- Chapter 3. Neuromodulation Devices Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related/Ancillary Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Drivers Analysis
- 3.2.1.1. Government funding for research and development
- 3.2.1.2. Technological advancements in neuromodulation devices
- 3.2.1.3. Increasing prevalence of neurological disorders
- 3.2.1.4. Growing reimbursement coverage
- 3.2.1.5. Expanding applications
- 3.2.2. Market Restraints Analysis
- 3.2.2.1. Complex regulatory framework
- 3.2.2.2. Surgery-associated risk
- 3.3. Neuromodulation Devices Market Analysis Tools
- 3.3.1. Porter’s Analysis
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and Social landscape
- 3.3.2.3. Technological landscape
- 3.3.2.4. Environmental landscape
- 3.3.2.5. Legal landscape
- Chapter 4. Neuromodulation Devices Market: Product Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Global Neuromodulation Devices Market: Product Movement Analysis, 2023 & 2030 (USD Million)
- 4.3. Global Neuromodulation Devices Market Size & Trend Analysis, by Product, 2018 to 2030 (USD Million)
- 4.4. Spinal Cord Stimulators
- 4.4.1. Spinal cord stimulators market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5. Deep Brain Stimulators
- 4.5.1. Deep brain stimulators market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 4.6. Sacral Nerve Stimulators
- 4.6.1. Sacral nerve stimulators market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 4.7. Vagus Nerve Stimulators
- 4.7.1. Vagus nerve stimulators market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 4.8. Gastric Electrical Stimulation
- 4.8.1. Gastric electrical stimulation market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 4.9. Others
- 4.9.1. Others market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Chapter 5. Neuromodulation Devices Market: Application Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Global Neuromodulation Devices Market: Application Movement Analysis, 2023 & 2030 (USD Million)
- 5.3. Global Neuromodulation Devices Market Size & Trend Analysis, by Application 2018 to 2030 (USD Million)
- 5.4. Parkinson’s Disease
- 5.4.1. Parkinson’s disease market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5. Chronic Pain
- 5.5.1. Chronic pain market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 5.6. Migraine
- 5.6.1. Migraine market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 5.7. Epilepsy
- 5.7.1. Epilepsy market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 5.8. Tremor
- 5.8.1. Tremor market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 5.9. Depression
- 5.9.1. Depression market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 5.10. Urinary & Fecal Incontinence
- 5.10.1. Urinary & fecal incontinence market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 5.11. Others
- 5.11.1. Others market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Chapter 6. Neuromodulation Devices Market: End Use Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Global Neuromodulation Devices Market: End use Movement Analysis, 2023 & 2030 (USD Million)
- 6.3. Global Neuromodulation Devices Market Size & Trend Analysis, by End use 2018 to 2030 (USD Million)
- 6.4. Hospitals & Ambulatory Surgery Centers (ASC)
- 6.4.1. Hospitals & Ambulatory Surgery Centers (ASC) market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5. Clinics & Physiotherapy Centers
- 6.5.1. Clinics & physiotherapy centers market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6. Others
- 6.6.1. Others market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Chapter 7. Neuromodulation Devices Market: Regional Estimates & Trend Analysis by Product, Application and End Use
- 7.1. Regional Dashboard
- 7.2. Market Size and Trend Analysis, 2018 to 2030
- 7.3. North America
- 7.3.1. North America neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.3.2. U.S.
- 7.3.2.1. Key country dynamics
- 7.3.2.2. Competitive scenario
- 7.3.2.3. Regulatory framework
- 7.3.2.4. Reimbursement scenario
- 7.3.2.5. U.S. neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.3.3. Canada
- 7.3.3.1. Key country dynamics
- 7.3.3.2. Competitive scenario
- 7.3.3.3. Regulatory framework
- 7.3.3.4. Reimbursement scenario
- 7.3.3.5. Canada neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.3.4. Mexico
- 7.3.4.1. Key country dynamics
- 7.3.4.2. Competitive scenario
- 7.3.4.3. Regulatory framework
- 7.3.4.4. Reimbursement scenario
- 7.3.4.5. Mexico neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4. Europe
- 7.4.1. Europe neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4.2. U.K.
- 7.4.2.1. Key country dynamics
- 7.4.2.2. Competitive scenario
- 7.4.2.3. Regulatory framework
- 7.4.2.4. Reimbursement scenario
- 7.4.2.5. U.K. neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4.3. Germany
- 7.4.3.1. Key country dynamics
- 7.4.3.2. Competitive scenario
- 7.4.3.3. Regulatory framework
- 7.4.3.4. Reimbursement scenario
- 7.4.3.5. Germany neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4.4. France
- 7.4.4.1. Key country dynamics
- 7.4.4.2. Competitive scenario
- 7.4.4.3. Regulatory framework
- 7.4.4.4. Reimbursement scenario
- 7.4.4.5. France neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4.5. Italy
- 7.4.5.1. Key country dynamics
- 7.4.5.2. Competitive scenario
- 7.4.5.3. Regulatory framework
- 7.4.5.4. Reimbursement scenario
- 7.4.5.5. Italy neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4.6. Spain
- 7.4.6.1. Key country dynamics
- 7.4.6.2. Competitive scenario
- 7.4.6.3. Regulatory framework
- 7.4.6.4. Reimbursement scenario
- 7.4.6.5. Spain neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4.7. Sweden
- 7.4.7.1. Key country dynamics
- 7.4.7.2. Competitive scenario
- 7.4.7.3. Regulatory framework
- 7.4.7.4. Reimbursement scenario
- 7.4.7.5. Sweden neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4.8. Denmark
- 7.4.8.1. Key country dynamics
- 7.4.8.2. Competitive scenario
- 7.4.8.3. Regulatory framework
- 7.4.8.4. Reimbursement scenario
- 7.4.8.5. Denmark neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4.9. Norway
- 7.4.9.1. Key country dynamics
- 7.4.9.2. Competitive scenario
- 7.4.9.3. Regulatory framework
- 7.4.9.4. Reimbursement scenario
- 7.4.9.5. Norway neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.5. Asia Pacific
- 7.5.1. Asia Pacific neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.5.2. China
- 7.5.2.1. Key country dynamics
- 7.5.2.2. Competitive scenario
- 7.5.2.3. Regulatory framework
- 7.5.2.4. Reimbursement scenario
- 7.5.2.5. China neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.5.3. Japan
- 7.5.3.1. Key country dynamics
- 7.5.3.2. Competitive scenario
- 7.5.3.3. Regulatory framework
- 7.5.3.4. Reimbursement scenario
- 7.5.3.5. Japan neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.5.4. India
- 7.5.4.1. Key country dynamics
- 7.5.4.2. Competitive scenario
- 7.5.4.3. Regulatory framework
- 7.5.4.4. Reimbursement scenario
- 7.5.4.5. India neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.5.5. South Korea
- 7.5.5.1. Key country dynamics
- 7.5.5.2. Competitive scenario
- 7.5.5.3. Regulatory framework
- 7.5.5.4. Reimbursement scenario
- 7.5.5.5. South Korea neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.5.6. Australia
- 7.5.6.1. Key country dynamics
- 7.5.6.2. Competitive scenario
- 7.5.6.3. Regulatory framework
- 7.5.6.4. Reimbursement scenario
- 7.5.6.5. Australia neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.5.7. Thailand
- 7.5.7.1. Key country dynamics
- 7.5.7.2. Competitive scenario
- 7.5.7.3. Regulatory framework
- 7.5.7.4. Reimbursement scenario
- 7.5.7.5. Thailand neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.6. Latin America
- 7.6.1. Latin America neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.6.2. Brazil
- 7.6.2.1. Key country dynamics
- 7.6.2.2. Competitive scenario
- 7.6.2.3. Regulatory framework
- 7.6.2.4. Reimbursement scenario
- 7.6.2.5. Brazil neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.6.3. Argentina
- 7.6.3.1. Key country dynamics
- 7.6.3.2. Competitive scenario
- 7.6.3.3. Regulatory framework
- 7.6.3.4. Reimbursement scenario
- 7.6.3.5. Argentina neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.7. Middle East and Africa
- 7.7.1. Middle East and Africa neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.7.2. South Africa
- 7.7.2.1. Key country dynamics
- 7.7.2.2. Competitive scenario
- 7.7.2.3. Regulatory framework
- 7.7.2.4. Reimbursement scenario
- 7.7.2.5. South Africa neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.7.3. Saudi Arabia
- 7.7.3.1. Key country dynamics
- 7.7.3.2. Competitive scenario
- 7.7.3.3. Regulatory framework
- 7.7.3.4. Reimbursement scenario
- 7.7.3.5. Saudi Arabia neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.7.4. UAE
- 7.7.4.1. Key country dynamics
- 7.7.4.2. Competitive scenario
- 7.7.4.3. Regulatory framework
- 7.7.4.4. Reimbursement scenario
- 7.7.4.5. UAE neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.7.5. Kuwait
- 7.7.5.1. Key country dynamics
- 7.7.5.2. Competitive scenario
- 7.7.5.3. Regulatory framework
- 7.7.5.4. Reimbursement scenario
- 7.7.5.5. Kuwait neuromodulation devices market estimates and forecasts, 2018 - 2030 (USD Million)
- Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Share Analysis, 2023
- 8.4. Company Heat Map Analysis
- 8.5. Strategy Mapping
- 8.5.1. Expansion
- 8.5.2. Mergers & Acquisition
- 8.5.3. Partnerships & Collaborations
- 8.5.4. New Product Launches
- 8.5.5. Research And Development
- 8.5.6. Company Profiles
- 8.5.7. Abbott (St. Jude Medical)
- 8.5.7.1. Company overview
- 8.5.7.2. Financial performance
- 8.5.7.3. Product Benchmarking
- 8.5.7.4. Strategic initiatives
- 8.5.8. Medtronic
- 8.5.8.1. Company overview
- 8.5.8.2. Financial performance
- 8.5.8.3. Product Benchmarking
- 8.5.8.4. Strategic initiatives
- 8.5.9. Boston Scientific Corporation
- 8.5.9.1. Company overview
- 8.5.9.2. Financial performance
- 8.5.9.3. Product Benchmarking
- 8.5.9.4. Strategic initiatives
- 8.5.10. Aleva Neurotherapeutics
- 8.5.10.1. Company overview
- 8.5.10.2. Financial performance
- 8.5.10.3. Product Benchmarking
- 8.5.10.4. Strategic initiatives
- 8.5.11. Nexstim
- 8.5.11.1. Company overview
- 8.5.11.2. Financial performance
- 8.5.11.3. Product Benchmarking
- 8.5.11.4. Strategic initiatives
- 8.5.12. LivaNova PLC
- 8.5.12.1. Company overview
- 8.5.12.2. Financial performance
- 8.5.12.3. Product Benchmarking
- 8.5.12.4. Strategic initiatives
- 8.5.13. Neuropace Inc.
- 8.5.13.1. Company overview
- 8.5.13.2. Financial performance
- 8.5.13.3. Product Benchmarking
- 8.5.13.4. Strategic initiatives
- 8.5.14. Nevro Corporation
- 8.5.14.1. Company overview
- 8.5.14.2. Financial performance
- 8.5.14.3. Product Benchmarking
- 8.5.14.4. Strategic initiatives
- 8.5.15. electroCore, Inc.
- 8.5.15.1. Company overview
- 8.5.15.2. Financial performance
- 8.5.15.3. Product Benchmarking
- 8.5.15.4. Strategic initiatives
- 8.5.16. Axonics, Inc.
- 8.5.16.1. Company overview
- 8.5.16.2. Financial performance
- 8.5.16.3. Product Benchmarking
- 8.5.16.4. Strategic initiatives
- 8.5.17. Laborie
- 8.5.17.1. Company overview
- 8.5.17.2. Financial performance
- 8.5.17.3. Product Benchmarking
- 8.5.17.4. Strategic initiatives
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