Pioneering Wellness: Unraveling the Neuromodulation Devices Market 2023-2030 Landscape, Business Strategies, Share, Value of Revenue Analysis, Size Growth Insights | Bioventus, Neuronetics, NEVRO CORP, Integer Holdings Corporation

Market Overview:

Neuromodulation devices are medical devices used for the treatment of neurological disorders such as chronic pain, Parkinson's disease, epilepsy, depression, dystonia etc. These devices deliver electrical or chemical stimuli to targeted areas of the nervous system for regulating neurological functions.

The global neuromodulation devices market is estimated to be valued at US$ 14.1 billion in 2023 and is expected to exhibit a CAGR of 15.2% during the forecast period (2023-2030).

Market Dynamics:

Rising prevalence of neurological disorders is expected to drive the growth of neuromodulation devices market over the forecast period. According to the National Institutes of Health (NIH), more than 1 billion people worldwide suffer from neurological disorders. Furthermore, growing geriatric population is also susceptible to neurological disorders which is expected to boost the market growth. According to the WHO, the proportion of the world's population over 60 years will nearly double from 12% to 22% between 2015 and 2050. Additionally, increasing R&D investments by key players for development of innovative neuromodulation devices is also expected to fuel the market growth during this period.

Major Driver: Growing Prevalence of Neurological Disorders

The Global Neuromodulation Devices Market is being driven by the growing prevalence of neurological disorders worldwide. Diseases such as Parkinson's disease, epilepsy, depression, migraine, chronic pain etc. are on the rise globally due to factors such as increasing stress levels, unhealthy lifestyle habits, genetic predispositions etc. Neurological disorders not only have a huge impact on the quality of life of patients but also place a significant economic burden on healthcare systems and families. Neuromodulation devices are proving to be an effective treatment option for many such conditions by regulating abnormal neural activity. As the number of such cases continue to surge, the demand for neuromodulation therapies and associated devices is witnessing strong growth.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐆𝐞𝐭 𝐔𝐩𝐭𝐨 𝟒𝟓 % 𝐎𝐅𝐅: https://www.coherentmarketinsights.com/insight/buy-now/3861

Driver: Technological Advancements in Neuromodulation Devices

Technological innovation has been a major catalyst for the neuromodulation devices market. Advancements such as smaller and more powerful battery systems, improved programming and efficacy of stimulation, wireless connectivity options, targeted therapy options etc. have enhanced the effectiveness and appeal of these devices. Newer generations of devices offer features like remotely controlled therapeutic adjustments, compatibility with brain imaging for personalized programming, adaptability as per changing symptoms etc. Rising R&D investments by manufactures is helping to expand the scope of neuromodulation therapies for a wider range of health issues. Customized, cutting-edge devices with enhanced patient comfort and compliance are driving repeat purchases and new adoptions in the market.

Restrain: High Cost of Neuromodulation Procedures and Therapies

The high cost associated with neuromodulation procedures and continued therapy is a major limiting factor deterring widespread adoption. Implantable devices have considerable price tags while surgical implantation and programming by trained physicians does not come cheap. Post-procedure maintenance, battery replacements and follow up sessions further increase the total cost of care which is a massive burden for many without comprehensive health coverage. In developing nations with vast underprivileged populations, affordability remains a big challenge restricting market penetration. Concerted efforts are needed to make these therapies more affordable and accessible through initiatives like favorable reimbursement policies, low cost alternatives, and awareness building.

Opportunity: Emerging Therapeutic Applications

The Global Neuromodulation Devices Market has promising growth opportunities arising from the evolving therapeutic applications of these technologies. New research studies are establishing the efficacy of neuromodulation techniques for a host of previously untreatable disorders. This includes conditions like obesity, substance abuse disorders, traumatic brain injury, Alzheimer's disease, smoking cessation etc. Expanding approval pathways will boost commercialization prospects in these areas. Similarly, cognitive health is garnering interest for neuromodulation interventions. Successful application in developmental fields like these opens lucrative revenue streams in the future. Companies wise enough to venture into newer niches early on stand to gain substantially.

Trend: Increasing Popularity of Non-invasive Neuromodulation Methods

A notable trend impacting the neuromodulation devices landscape is the rising popularity of non-invasive techniques versus conventional implantables. Complications associated with surgical procedures and long term implants have increased patient preference for non or minimally invasive options like transcranial magnetic stimulation (TMS), transcranial current stimulation (tCS) and focused ultrasound (FUS). These external approaches do not require insertion of foreign bodies, carry lower risks, avoid device replacement burdens and offer more cost-effective care over time. Key players are striving to gain first-mover advantage in developing non-invasive systems through heavy R&D spend. Widening clinical evidence backing external neuromodulation efficacy and safety is strengthening this emerging preference trend.

List of TOP Players in Market Report are: -

◘ Medtronic
◘ BD
◘ LivaNova
◘ Axonics Inc.
◘ ShiraTronics
◘ Abbott
◘ Bioventus
◘ Neuronetics
◘ NEVRO CORP
◘ Integer Holdings Corporation
◘ BIOTRONIK
◘ NeuroPace Inc.
◘ NeuroMetrix Inc.
◘ Helius Medical Technologies Inc.
◘ Synapse Biomedical Inc.

Note: Major Players are sorted in no particular order.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐆𝐞𝐭 𝐔𝐩𝐭𝐨 𝟒𝟓 % 𝐎𝐅𝐅: https://www.coherentmarketinsights.com/insight/buy-now/3861

Furthermore, the years considered for the study are as follows:

Historical data - 2016-2021
The base year for estimation - is 2021
Estimated Year - 2023
Forecast period** - 2023 to 2030

This Neuromodulation Devices Market Research/Analysis Report Contains Answers to your following Questions:

◈What are the current global trends in the Neuromodulation Devices market, and will the market experience an increase or decrease in demand in the upcoming years?

◈ What is the expected demand for various product types within the Neuromodulation Devices market, and what are the emerging Market applications and trends?

◈ What are the projections for the global Neuromodulation Devices Market in terms of capacity, production, production value, cost, profit, market share, supply, consumption, import, and export?

◈ How will strategic developments shape the Market trajectory in the medium to long term?

◈ What factors contribute to the final price of Neuromodulation Devices , and what are the raw materials used in its manufacturing?

◈ What is the market's growth potential, particularly with the increasing adoption of Neuromodulation Devices in mining?

◈ What is the current and 2022 value of the global market, and who are the leading companies in this market?

◈ What recent Market trends can be leveraged to create additional revenue streams?

◈ What entry strategies, economic impact mitigation measures, and marketing channels should be considered for the Neuromodulation Devices Market?

Summarized Extracts from TOC of Market Study

Chapter 1 Neuromodulation Devices Introduction and Market Overview

1.1 Objectives of the Study

1.2 Overview of Neuromodulation Devices

1.3 Scope of The Study

1.3.1 Key Market Segments

1.3.2 Players Covered

1.3.3 COVID-19's impact on the Neuromodulation Devices industry

1.4 Methodology of The Study

1.5 Research Data Source

Chapter 2 Executive Summary

Chapter 3 Industry Chain Analysis

Chapter 4 Market, by Type

Chapter 5 Market, by Application

Chapter 6 Market Analysis by Regions

Chapter 7 North America Market Analysis by Countries

Chapter 8 Europe Neuromodulation Devices Market Analysis by Countries

Chapter 9 Asia Pacific Neuromodulation Devices Market Analysis by Countries

Chapter 10 Middle East and Africa Neuromodulation Devices Market Analysis by Countries

Chapter 11 South America Neuromodulation Devices Market Analysis by Countries

Chapter 12 Competitive Landscape

Chapter 13 Industry Outlook

Chapter 14 Market Forecast

Chapter 15 New Project Feasibility Analysis

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