Neuromodulation Devices Market to Witness Robust Expansion by 2027 - Medtronic, Accellent, Boston Scientific Co., NeuroPace, Inc. Etc.

Neuromodulation is a technology that acts directly upon the nerves, thereby, causing alterations in the nerve activity. This is achieved by delivering electrical or pharmaceutical agents directly onto the target area. There is a plethora of neuromodulation applications, which includes deep brain stimulation (DBS) treatment for Parkinson's disease, sacral nerve stimulation for pelvic disorders and incontinence, and spinal cord stimulation for ischemic disorders. Increasing prevalence of neurological disorders like Alzheimer’s and Parkinson’s diseases, and growing geriatric population are the major drivers for the market growth during the forecast period.

According to the Alzheimer's Association in 2017, 5.5 million Americans live with Alzheimer's disease and about 5.3 million of this patient population age is 65 years or more. Moreover, according to the World Health Organization, the number of people who age 65 or older is projected to grow from 524 million in 2010 to approximately 1.5 billion by 2050. Moreover, it was estimated that most of the increase in the geriatric population will be witnessed in the developing countries. Additionally, increasing awareness of about neurological disorders will fuel the market growth during the forecast period. However, high cost of the treatment procedures followed by the stringent government policies and low per capita healthcare expenditures in the middle and low-income countries may restrain the market growth.

The Global Neuromodulation Devices Market is growing with a sound pace. According to a recent study report published by the Market Research Future, the global neuromodulation devices market is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a sound growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2027).

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Global Neuromodulation Devices Market - Segments

Global Neuromodulation Devices Market has been segmented on the basis of agents which comprises of electrical, optical and chemical signals others. On the basis of devices include spinal cord stimulation devices, deep brain stimulation devices (DBS), sacral nerve stimulation devices, Vagus nerve stimulation devices and Gastric electric stimulation devices.

Neuromodulation Devices Market - Key Players

Medtronic (Ireland), Accellent (U.S), St. Jude Medical, Inc. (U.S.), Synapse Biomedical Inc. (U.S.), Nevro Corp (U.S.), DynaMD, Boston Scientific Corporation (U.S.), NeuroSigma, Inc.(U.S.), NeuroPace, Inc. (U.S.), Neuronetics, Inc. (U.S.), Soterix Medical Inc. (U.S), and BioControl Medical (Israel) are some of the prominent players at the forefront of competition in the Global Neuromodulation Devices Market and are profiled in MRFR Analysis.

Industry Trends and News

Medtronic plc recently announced that the company has been shown a green signal by the U.S. FDA in its pursue of introducing a new spine surgery indication “Infuse™ Bone Graft”. After the FDA clearance, the company can now use the technology during additional spine implants procedures such as anterior lumbar interbody fusion (ALIF) and oblique lateral interbody fusion (OLIF 25(TM) and OLIF 51(TM)).

Synapse Biomedical, the manufacturer of the NeuRx Diaphragm Pacing System® and a specialist in neurostimulation recently announced the it receives the CE Mark approval for its new temporary diaphragm stimulator “TransAeris™ System”.

Global Neuromodulation Devices Market - Regional Analysis

On the regional backgrounds the Americas leads the global neuromodulation devices market owing to a well-developed healthcare sector, huge patient population and presence of the developed technologies like U.S. and Canada which have technological backgrounds and rising healthcare expenditure for facilitating the market growth. Europe is second in the market due to huge patient population, rising government support and increasing awareness about the disease. The Asia Pacific region is the fastest growing region due to the developing economies like India and China which have a developing healthcare sector. On the other hand, the Middle East and Africa have the least market share, especially in the African region due to the presence of poor economies and stringent government within the African region. The Middle East region holds the market within this region due to huge healthcare expenditures.

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Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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