Press release
Internal Neuromodulation Devices Market expected to reach USD 28.6 billion by 2029
Internal Neuromodulation Devices Market
The market for internal neuromodulation devices is estimated to increase rapidly over the forecast period. Neuromodulation devices are one of medicine's fastest-growing fields, involving a wide range of professionals and affecting hundreds of thousands of patients with a wide range of illnesses worldwide. Neuromodulation devices have become more important in the treatment of chronic pain patients. These devices are designed to alleviate the unpleasant sensory experience of pain and the functional and behavioural consequences of pain. Therefore, these factors will enhance the demand for internal neuromodulation devices in the market.
Data Bridge Market Research analyses that the internal neuromodulation devices market was valued at USD 7.72 billion in 2021 and is expected to reach USD 28.6 billion by 2029, registering a CAGR of 15.1% during the forecast period of 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Opportunities
Growing number of R&D activities will boost many market opportunities during the forecast period
Moreover, the rising number of research and development activities will provide beneficial opportunities for the internal neuromodulation devices market growth. Along with this, increase in extensive new indications and target applications linked with the robust product pipeline offered by various market players will flourish the growth rate of the internal neuromodulation devices market.
Moreover, the growing focus of manufacturers on the adoption of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the internal neuromodulation devices market growth during the forecast period.
Segmentation:
The internal neuromodulation devices market is segmented on the basis of product type, lead type, biomaterial, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
Spinal Cord Stimulator
Deep Brain Stimulator
Vagus Nerve Stimulator
Sacral Nerve Stimulator
Gastric Nerve Stimulator
Based on product type, the internal neuromodulation devices market is segmented into spinal cord stimulator, deep brain stimulator, vagus nerve stimulator, sacral nerve stimulator, and gastric nerve stimulator.
Lead Type
Percutaneous
Paddle Lead
The lead type segment of the internal neuromodulation devices market is segmented into percutaneous and paddle lead.
Biomaterial
Metallic
Polymeric
Ceramic
Based on biomaterial, the internal neuromodulation devices market is segmented into metallic, polymeric and ceramic.
Application
Failed Back Surgery Syndrome
Parkinson's disease
Urinary Incontinence
Epilepsy
Gastroparesis
On the basis of application, the internal neuromodulation devices market is segmented into failed back surgery syndrome, Parkinson's disease, urinary incontinence, epilepsy, and gastroparesis.
End-User
Hospitals
Clinics
Home Healthcare
Community Healthcare
The end-user segment of the internal neuromodulation devices market is segmented into hospitals, clinics, home healthcare and community healthcare.
Key Market Players:
Some of the major players operating in the internal neuromodulation devices market Medtronic (Ireland), Boston Scientific Corporation (US), NEVRO CORP (US), Cyberonics, Inc. (US), Inspire Medical Systems, Inc. (US), SPR Therapeutics (US), ALEVA NEUROTHERAPEUTICS SA (Switzerland), Bioness Inc. (US), ReShape Lifesciences, Inc. (US), LivaNova PLC (UK), NeuroPace, Inc. (US), Synapse Biomedical Inc. (US), Soterix Medical Inc. (US), Accellent Technologies, Inc. (US), Abbott (US), Bioventus (US), Soterix Medical Inc. (US), Integer Holdings Corporation (US), among others.
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