The global neuromodulation market is projected to reach USD 8.8 billion by 2025 from USD 5.8 billion in 2020, at a CAGR of 8.6%. The growth of this market is driven majorly by the rising prevalence of neurological disorders, increasing research into expanding the applications of neuromodulation, and awareness on neurodegenerative disorders. However, the high cost of neuromodulation procedures and equipment, along with the dearth of a trained workforce, is expected to restrain the growth of this market during the forecast period.

Parkinson’s disease held the largest share of the deep brain stimulation market, by application

Based on application, the deep brain stimulation market is segmented into Parkinson’s disease, tremor, depression, and other DBS applications. Parkinson’s disease accounted for the largest share of this market in 2019. The growth of this segment is attributed to the rising incidence of the disease and growing R&D activity in this area.

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The Asia Pacific neuromodulation market is expected to grow at the highest CAGR during the forecast period

The Asia Pacific is expected to grow at the highest rate in the market. The major factors driving the growth of this market include the high incidence of neurological disorders, increasing public and private investments, and ongoing research.

Leading Market Players in Neuromodulation Market:

The prominent players in the neuromodulation market include Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), LivaNova (UK), Synapse Biomedical, Inc. (US), Nevro Corporation (US), NeuroSigma (US), NeuroPace (US), Neuronetics (US), and BioControl Medical (Israel). Major players have focused on product launches, agreements, and partnerships to increase their shares in the global market.

Medtronic is one of the leading players in the neuromodulation market. The company’s leading position can be attributed to its wide portfolio of neuromodulation devices and strong geographical footprint. The company operates in the US, Europe, and the Asia Pacific. It serves clinicians, physicians, hospitals, and patients in more than 160 countries. R&D is a key area of focus for Medtronic—it invested USD 2,330 million in 2019, as compared to USD 2,256 million in 2018 and USD 2,193 million in 2017. The company also focuses on organic as well as inorganic growth strategies to gain a competitive edge.

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Recent Development in Global Neuromodulation Market:

1. In 2019, NeuroSigma signed a partnership agreement with Teijin Limited (Teijin) (Japan). The partnership granted Teijin Pharma, the core company of Teijin’s healthcare business, exclusive rights to market NeuroSigma’s Monarch eTNS system in Japan, as well as the company’s TNS patent rights in Japan related to the non-invasive treatment of ADHD.

2. In 2018, Abbott signed an agreement with the National Institutes of Health (NIH) (US). As per the agreement, Abbott will provide neuromodulation technologies, including directional DBS, SCS, and DRG therapy, for NIH research to explore their applications in chronic pain and progressive movement disorders.

3. In 2017, Medtronic signed a partnership agreement with Mercy (US) to establish a new data sharing and analysis network that helps gather clinical evidence for medical device innovation and patient access

The Global market for Neuromodulation is projected to reach more than US$5 Billion by the end of 2021 growing at a CAGR of around XX% from 2016 to 2021.

Market growth can be attributed to factors such as rising geriatric population, increasing prevalence of neurological diseases, strong product pipeline offered by the players. In addition, rapid advances in the field of neuromodulation and development of minimally invasive techniques have greatly expanded the market. High cost of treatment and negative social perception is restraining the growth of neuromodulation market.

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North America is seen as the dominant player in the neuromodulation market followed by Europe, Asia–Pacific, and rest of the world (RoW) in 2015. In the coming years, the neuromodulation market is expected to witness the highest growth rate in the Asian region, with emphasis on India, China, and Japan. These countries are expected to increase revenues for the manufacturers of devices involved in neuromodulation.

Spinal cord stimulation segment dominated the neuromodulation market with more than XX% share in 2015. But its market share will dwindle in the forecasting period due to the highest growth rate of deep brain stimulation. It is expected that deep brain stimulation will grasp nearly 20% market share by the year end of 2021.

Chronic Pain is identified as the largest application segment of the neuromodulation market. Urinary and Fecal Incontinence(UFI) is the second leading segment for neuromodulation market. Refractory epilepsy stands at the third spot with more than XX% share in 2015. Parkinson’s disease holds the fourth highest share being followed by Gastroparesis. Essential Tremor and Dystonia are the other leading application segment for neuromodulation market.

Further, prudent analysis has been done on the competitor’s part, where three major players grab XX% of the global market by revenue. Medtronic, Boston Scientific, St Jude Medical, Liva Nova and Nevro are the key influencers with their products in the Neuromodulation market. Merger & acquisitions, partnerships, collaborations and extending distribution networks are few important factors for their dominance.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry–validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, application, technology, geographies, companies and competitive landscape. The report concludes with the profiles of major players in the global neuromodulation such as Medtronic, Boston Scientific, St Jude Medical, Liva Nova and Nevro. The major market players are evaluated on various parameters such as company overview, product portfolio, and sales analysis of neuromodulation segment from 2010 to 2021. The report also entails major drivers and challenges of neuromodulation market.

Neuromodulation Market: Segmentation

Neuromodulation market is classified on the basis of technology, application, company and geography.

Based on Technology, Neuromodulation market can be segmented as follows:

• Spinal Cord Stimulation
• Deep Brain Stimulation
• Sacral Nerve Stimulation
• Vagus Nerve Stimulation
• Other Technologies

Based on Application, Neuromodulation market can be segmented as follows:

• Chronic Pain
• Parkinson’s Disease
• Urinary Fecal Incontinence
• Refractory Epilepsy
• Essential Tremor
• Dystonia
• Gastroparesis
• Treatment Resistant Depression(TRD)
• Obsessive Compulsive Disorder(OCD)
• Other Applications

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Based on Geography, Neuromodulation market can be segmented as follows:

• North America
• Europe
• Asia Pacific
• Latin America
• Rest of the World (ROW)

Based on Company, Neuromodulation market can be segmented as follows:

• Medtronic
• Boston Scientific
• St Jude Medical
• Liva Nova(Cyberonics)
• Nevro