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Neuromodulation Market worth $10.4 billion by 2027 - Leading Key Players are Medtronic plc (Ireland), Boston Scientific Corporation (US), and Abbott Laboratories (US)

08-16-2022 11:23 AM CET | Health & Medicine

Press release from: MarketsandMarkets™

Neuromodulation Market

Neuromodulation Market

Neuromodulation Market is projected to grow from USD 6.0 billion in 2022 to USD 10.4 billion by 2027, at a CAGR of 11.8% from 2022 to 2027, according to a new report by MarketsandMarkets™. The market is driven by government support for research on neurological disorder along with increasing prevalence of neurological disorders. Emerging economies are expected to provide lucrative growth opportunities for the market.

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Browse in-depth TOC on "Neuromodulation Market"
210 - Tables
36 - Figures
215 - Pages

The internal neuromodulation accounted for the largest share of the neuromodulation market, by type segment, in 2021

The global market is segmented into internal neuromodulation and external neuromodulation based on type. In 2021, internal neuromodulation accounted for the largest share of the global market. This is mainly due to factors such growing incidence of spinal cord injuries and rising number of people suffering from severe GERD and gastroparesis.

Spinal cord stimulation segment to register the highest growth rate among internal modulation during the forecast period

The global internal neuromodulation market is segmented into spinal cord stimulation, deep brain stimulation, sacral nerve stimulation, vagus nerve stimulation, and gastric electrical stimulation based on type. The spinal cord stimulation segment accounted for the largest share of the market in 2021, owing to the high incidence of chronic pain, and growing incidence of FBSS due to rising number of surgeries each year.

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North America is the largest regional market for neuromodulation market

The global neuromodulation market has been segmented into four major regions-North America, Europe, the Asia Pacific, and the Rest of the World. In 2021, North America dominated the global market in 2021. The large share of the North American market is primarily driven by the rising prevalence of chronic diseases, increasing geriatric population, and the rising number of cases of Lyme and Alzheimer's disease

The major players operating in this neuromodulation market are Medtronic (Ireland), Boston Scientific Corporation (US), Abbott Laboratories (US), and LivaNova (UK).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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