Neuromodulation Market Top Players- Abbott, Boston Scientific Corporation, Medtronic, NeuroPace, Inc

According to the latest study on “Neuromodulation Market Forecast to 2027 –COVID-19 Impact and Global Analysis – by Technology, Application, and End User,” the market was valued at US$ 7,613.45 million in 2019 and is projected to reach US$ 16,333.98 million by 2027; it is expected to grow at a CAGR of 10.3% during 2020–2027. The report highlights trends prevailing in the global neuromodulation market, and drivers and restraints pertaining to the market growth.
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The List of Companies - Neuromodulation Market
• Abbott
• Boston Scientific Corporation
• Medtronic
• NeuroPace, Inc.
• NeuroSigma, Inc.
• NEVRO CORP.
• Synapse Biomedical Inc.
• Soterix Medical Inc
• Integer Holdings Corporation
• Magstim
The growth of the neuromodulation market is driven by the factors such as increasing incidence of neurological disorders and growing developments in neuromodulation technology. Further, the rising demand of neurostimulation devices to treat chronic pain offer lucrative opportunities to the global neuromodulation market players. However, the high cost of neuromodulation devices hinders the market growth.
On the basis of technology, the neuromodulation market is bifurcated into external (non-invasive) neuromodulation and internal neuromodulation. In 2019, the internal neuromodulation segment accounted for a larger share of the market. The growth of the market for this segment is attributed to the rising number of product launches and increasing innovations in neuromodulation devices.
By Technology
• External (Non-Invasive) Neuromodulation
• Respiratory Electrical Stimulation
• Transcutaneous Electrical Nerve Stimulation
• Transcranial Magnetic Stimulation
• Internal Neuromodulation
• Deep Brain Stimulation
• Sacral Nerve Stimulation
• Gastric Electrical Stimulation
• Spinal Cord Stimulation
• Vagus Nerve Stimulation
By Application
• Chronic Pain Management
• Failed Back Syndrome
• Epilepsy
• Tremor
• Incontinence
• Depression
• Dystonia
• Gastroparesis
• Parkinson’s Disease
• Obsessive-Compulsive Disorder
• Migraine

Depression is the most common neurological disorder among all age groups. In the developing regions, most people suffer from depression owing to various socioeconomic factors such as financial stress and poverty. Other neurological disorders such as dystonia, Parkinson’s disease, and obsessive-compulsive disorder are usually observed in aging population.
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According to a study ‘Incidence and Prevalence of Major Neurologic Disorders,’ published in January 2018, ~36% of elderly have moderate or severe memory impairment in the US. Each year nearly 1.2 million adults are diagnosed with brain disorders, of which 51.3% is due to stroke and 21% due to Alzheimer’s disease. In addition, nearly 135 million people are diagnosed with Parkinson’s disease, traumatic brain injury, and epilepsy each year. Moreover, ~500,000 cases of brain tumor, multiple sclerosis, and amyotrophic lateral sclerosis are reported annually. Therefore, the growing prevalence of neurological disorders is consequently propelling the demand for neuromodulators as these help in relieving neurological symptoms. Furthermore, the rising demand for neurostimulation devices to treat chronic pain.

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This release was published on openPR.