Neuromodulation Devices market is projected to reach USD 7.17 billion by 2030 : Cognitive Market Research

Market Overview:
- Neuromodulation is a technique that affects nerves directly. Neuromodulation devices activate nerves by regulating aberrant neural pathway activity induced by the illness process, using pharmacological drugs, electrical impulses, or other kinds of energy. Neuromodulation devices and therapies have the potential to change people's lives. They influence every part of the body and treat practically every ailment or symptom, including headaches, tremors, spinal cord injury, and urine incontinence. With such a broad therapeutic scope and considerable continuing scientific advancements, it is not unexpected that neuromodulation is positioned to be a large growth business over the next decade.

Summary:
- The neuromodulation devices market is expected to grow from USD 3.48 billion in 2022 to USD 7.17 billion by 2030, at a CAGR of 9.46%. Neuromodulation treatments have evolved into an essential tool for healthcare providers. Neuromodulation devices, like other medical technology, have evolved, becoming smaller, more readily implanted and withdrawn, and more precisely targeted. Further advancements in scientific knowledge of brain circuitry, as well as breakthroughs in biomedical engineering, are anticipated to contribute to a continuous evolution in neuromodulation therapy choices and advancements in the usability of this treatment for patients and practitioners.

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Market Dynamics:
- Neuromodulation devices have a plethora of neuromodulation applications, such as deep brain stimulation (DBS) treatment for Parkinson's disease, sacral nerve stimulation for pelvic disorders and incontinence, and spinal cord stimulation for ischemic disorders (angina, peripheral vascular disease). This factor drives the growth of the neuromodulation devices market.
However, the availability of other types of therapies can hamper the adoption rate of neuromodulation devices. Nevertheless, it is expected that neuromodulation is set to be a substantial growth business for the next ten years given the wide therapeutic range and continuous significant advancements in biotechnology.

Market Segmentation:
- Based on the type spinal cord stimulator SCS systems has dominated the market as the number of chronic spinal cord diseases are growing. According to the World Health Organization, every year, around the world, between 250,000 and 500,000 people suffer a spinal cord injury (SCI).

- Based on the application, Parkinson's disease segment dominated the neuromodulation devices market owing to the rising prevalence of Parkinson's disease. According to the Parkinson's Foundation, nearly 90,000 people in the U.S. are diagnosed with PD each year.

Technology:
• Internal
• External
- Based on technology, the internal segment led the market with a high revenue share owing to a growth in the number of patients suffering from various forms of headaches, depression, and heart-related ailments.

End-use:
• Hospitals & Ambulatory Surgery Centers (ASC)
• Clinics & Physiotherapy Centers
• Others
- Based on end users, the hospitals & ambulatory surgery centers segment dominates the neuromodulation devices market as many people are preferring hospitals whether its neurological diseases or spinal cord-related diseases.

The Major Players in Neuromodulation Devices Market are:
Medtronic, Boston Scientific Corporation, St.Jude Medical, Synapse Biomedical, Nevro, Neurosigma, Neuropace, Neuronetics, Cyberonics, BioControl Medical

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Regional Analysis:
- Geographically, the global Neuromodulation devices market is divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. North America dominates the neuromodulation devices market owing to the rising prevalence of Parkinson's disease, substantial expenditure on research and development to produce innovative therapeutic solutions, number of patients with neurological disorders and spinal cord diseases.

News:
- In August 2022, Abbott introduced Canada's first remote neuromodulation patient-care technology. Abbott announced the Health Canada licensing of NeuroSphere virtual clinic, a remote programming technology that the company claims are the first of its kind in Canada and is compatible with Abbott's suite of neuromodulation technologies. According to Abbott, this feature enables clinicians to prescribe new treatment settings remotely to the patient's neurostimulation device using the clinician programmer app and a new, simple and secure remote care connection.

Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
Chapter 2 Research Methodology Review Complete Research Methodology
Chapter 3 Executive Summary of Neuromodulation Devices Market
Chapter 4 Global Neuromodulation Devices Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
• 5.1 Global Neuromodulation Devices Market Revenue and Share by Manufacturers (2018-2022)
• 5.2 Global Neuromodulation Devices Industry Mergers and Acquisition Analysis
• 5.2 Global Neuromodulation Devices New Launches Analysis
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Neuromodulation Devices Market by Type Segmentation Analysis (2018-2030)
Chapter 9 Global Neuromodulation Devices Market by Application Segmentation Analysis (2018-2030)
Chapter 10 Global Neuromodulation Devices Market by Technology Segmentation Analysis (2018-2030)
Chapter 11 Global Neuromodulation Devices Market by End-use Segmentation Analysis (2018-2030)
Chapter 12 Global Neuromodulation Devices Market Regional Analysis
• 12.1 Detailed Qualitative Analysis
• 12.2 Global Neuromodulation Devices Market Revenue by Region (2018-2030)
• 12.2 Global Neuromodulation Devices Market Share (%) by Region (2018-2030)
Chapter 13 North America Neuromodulation Devices Market Outlook (2018 - 2030)
Chapter 14 Europe Neuromodulation Devices Market Outlook (2018 - 2030)
Chapter 15 Asia Pacific Neuromodulation Devices Market Outlook (2018 - 2030)
Chapter 16 Latin America Neuromodulation Devices Market Outlook (2018 - 2030)
Chapter 17 Middle East and Africa Neuromodulation Devices Market Outlook (2018 - 2030)
Chapter 18 Research Findings

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