Neuromodulation Devices Market Size Worth USD 8.08 Billion in 2032 | Emergen Research

The global neuromodulation devices market size was USD 3.3 Billion in 2022 and is expected to register a revenue CAGR of 9.3% during the forecast period. The rise in market revenue can be attributed to several factors, including the increasing prevalence of neurological disorders, nerve injuries, and respiratory conditions. Additionally, the growing number of elderly individuals, coupled with rising adoption of clinical applications and neuromodulation devices, has contributed to market expansion. Rapid advancements in technology, particularly in neurostimulation and neuromodulation, alongside substantial investments in research and development activities, have further fueled market growth.
Neuromodulation devices are medical technologies that directly impact the nervous system by delivering electrical signals or pharmaceutical agents to targeted areas of the body. These devices play a crucial role in treating various conditions, including headache, migraine, tremors, epilepsy, spinal cord damage, and urinary incontinence.

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One of the significant drivers of market growth is the increasing adoption and application of neuromodulation devices, driven by the rising prevalence of neurological disorders and spinal cord injuries. Spinal cord injuries, in particular, affect millions globally, with an estimated annual prevalence of 40-80 cases per million populations.
The market is witnessing rapid technological advancements, notably in Deep Brain Stimulation (DBS) and Spinal Cord Stimulation (SCS), which are key methods for treating neurological disorders and managing pain. For instance, recent innovations include Medtronic's Percept RC deep brain stimulation system and Abbott's Eterna spinal cord stimulation system, both approved by the US FDA.

However, the industry faces challenges such as the high cost of neuromodulation devices, particularly in developing countries with poor reimbursement policies. Additionally, product recalls by regulatory agencies like the US FDA pose a constraint to market growth.

Segment Insights

Internal devices Insights:

The market is segmented into internal neuromodulation devices (invasive) and external neuromodulation devices (non-invasive). Internal devices, including spinal cord stimulators and deep brain stimulators, dominate the market due to their efficacy in managing chronic pain and neurological disorders. External devices, such as Transcutaneous Electrical Nerve Stimulation (TENS) and Transcranial Magnetic Stimulation (TMS), are steadily growing in demand for pain management and mental health conditions.

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Regional Insights:

Geographically, North America leads the global neuromodulation devices market, driven by the increasing prevalence of neurological disorders and chronic pain. Europe and Asia Pacific regions are also witnessing significant growth, fueled by government regulations, technological advancements, and rising healthcare infrastructure development.

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Neuromodulation Devices Top Companies and Competitive Landscape

The global neuromodulation devices market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective neuromodulation devices solutions.

Some major players included in the global neuromodulation devices market report are:
• Medtronic
• Abbott
• Boston Scientific Corporation
• Neuronetics
• Bioinduction
• Bioventus
• LivaNova PLC
• NeuroSigma, Inc.
• NEVRO CORP.
• NeuroPace, Inc.
• Soterix Medical Inc.
• Synapse Biomedical Inc.
• ALEVA NEUROTHERAPEUTICS
• Theranica Bio-Electronics Ltd.
• BioWave
• electroCore, Inc.
• Inspire Medical Systems, Inc.
• ReShape Lifesciences, Inc.
• Integer Holdings Corporation
• GIMER MEDICAL
• MicroTransponder Inc.
• Neuronano
• BlueWind Medical
• Helius Medical Technologies, Inc.
• Cardionomic, Inc.

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For the purpose of this report, Emergen Research has segmented global neuromodulation devices market on the basis of Product, Application, Biomaterials, End-Use, and region:

• Product Outlook (Revenue, USD Billion; 2019-2032)
o Internal Neuromodulation (Invasive)
1. Spinal Cord Stimulators
2. Deep Brain Stimulators
3. Vagus Nerve Stimulators
4. Sacral Nerve Stimulators
5. Gastric Electrical Stimulators
o External Neuromodulation (Non-invasive)
1. Transcutaneous Electrical Nerve Stimulators
2. Transcranial Magnetic Stimulators
3. Other External Neuromodulations

• Biomaterials Outlook (Revenue, USD Billion; 2019-2032)
o Polymeric Biomaterial
o Metallic Biomaterial
o Ceramic Biomaterial
• Application Outlook (Revenue, USD Billion; 2019-2032)

o Neurological and Movement Disorder Management
1. Parkinson's Disease
2. Migraine
3. Tremor
4. Depression
5. Epilepsy
6. Dystonia
7. Urine Incontinence
8. Fecal Incontinence

o Pain Management
1. Chronic Pain
2. Failed Back Syndrome
o Respiratory Disorder Management
1. Spinal Cord Injury

o Metabolism and Gastrointestinal Tract Management
1. Gastroparesis
2. Obesity
o Musculoskeletal Disorder Management
1. Ischemia
o Others

• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Hospitals
o Specialty Clinics
o Physiotherapy Centers
o Ambulatory Surgical Centers
o Homecare
o Others

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

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