Internal Neuromodulation Devices Market Analysis, Trends, Growth, Research And Forecast 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Internal Neuromodulation Devices Global Market Report 2023 identifies the increasing incidence of neurologic diseases as the major driver for the internal neuromodulation devices market's growth in the forecast period. Neurologic diseases are a broad category of disorders that affect the nervous system, including the brain, spinal cord, and nerves throughout the body. Internal neuromodulation devices are medical devices used to treat neurological and psychiatric disorders by delivering electrical stimulation to specific areas of the nervous system, which can relieve symptoms such as chronic pain, movement disorders, and mood disorders. They can improve patient quality of life by reducing symptoms and allowing them to perform daily activities more easily.

The global internal neuromodulation devices market size is expected to grow from $8.55 billion in 2022 to $10.02 billion in 2023 at a compound annual growth rate (CAGR) of 17.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global internal neuromodulation devices market size is expected to reach $17.92 billion in 2027 at a CAGR of 15.6%.

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Major competitors in the internal neuromodulation devices market are Medtronic PLC, Boston Scientific Corporation, Cyberonics Inc., BioControl Medical, Aleva Neurotherapeutics SA, Bioness Inc., Uroplasty Inc., Abbott Laboratories, St. Jude Medical Inc., EnteroMedics Inc., Micron Medical Corporation, LivaNova PLC, NeuroPace Inc., Synapse Biomedical Inc., Soterix Medical Inc., Accellent Inc., Neuros Medical Inc., and Nevro Corp.

A key trend in the internal neuromodulation devices market includes innovative technologies. Major companies operating in the internal neuromodulation devices segment are focused on innovating new technologies to sustain their position in the market. For instance, in March 2023, Neuromod Device Ltd., an Ireland-based medical equipment manufacturer, announced that its Lenire® system had been granted De Novo clearance by the US Food and Drug Administration (FDA). The Lenire® system uses a combination of sound stimulation and tongue stimulation to treat tinnitus, a neurological disorder characterized by ringing in the ears. The Lenire system uses a dual-pronged approach to neurostimulation. Bluetooth headphones play unique sounds that are intended to stimulate the auditory nerve, while Neuromod's Tonguetip device is inserted into the mouth and transmits moderate electrical stimulation to the tongue's surface. Now that the otolaryngologist has access to innovative Lenire technology, he or she can recommend it to patients whose tinnitus is having at least a moderately negative impact on their lives.

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The internal neuromodulation devices market is segmented -
• By Type: Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Gastric Neuro Stimulator

• By Technology Type: Internal Neuromodulation, External Neuromodulation

• By Biomaterial: Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials

• By Application: Failed Back Surgery Syndrome, Parkinson's Disease, Urinary Incontinence, Epilepsy, Gastroparesis

• By End-User: Hospitals, Clinics, Home Healthcare, Community Healthcare

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the internal neuromodulation devices market.

The Business Research Company's "Global Internal Neuromodulation Devices Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Internal Neuromodulation Devices Market Include:
1. Executive Summary
2. Internal Neuromodulation Devices Market Characteristics
3. Internal Neuromodulation Devices Market Trends And Strategies
4. Internal Neuromodulation Devices Market - Macro Economic Scenario
5. Internal Neuromodulation Devices Market Size And Growth
……
26. Africa Internal Neuromodulation Devices Market
27. Internal Neuromodulation Devices Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Internal Neuromodulation Devices Market
29. Internal Neuromodulation Devices Market Future Outlook and Potential Analysis
30. Appendix

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