The neuromodulation
devices market size is projected to reach USD 15.72 Billion by 2032 at 11.50%
CAGR during the forecast period 2023-2032. In
2017, sales of neuromodulation devices remained on the upside and a similar
trend is likely to follow in 2018. Neuromodulation has gained significant
traction over the past couple of years, which has reflected favourably on th
Global Neuromodulation Devices
Market Report. These devices are also finding applications in minimally
invasive surgeries and several neuromodulation therapies. The recent study
conducted by Market Research Future (MRFR) claims that global neuromodulation
devices sales will remain steady over the next nine years.
Neuromodulation is increasingly being
used in healthcare to leverage the power of electrical impulses for therapeutic
benefits. While several new areas of use have emerged in recent years, deep
brain stimulation (DBS) remains the primary healthcare application of
neuromodulation. DBS is a therapeutic technique focused towards resolving
chronic and intractable pain. Such pains are quite common among the elderly
population; the latest data resealed by United Nations suggest that the number
of older persons — those aged 60 years or above — is expected to more than
double by 2050.
The rising number and proportion of
elderly people is almost all the countries in the world is creating diverse
healthcare requirements. This, in turn, is expected to support the growth of
the global market for neuromodulation impact factor in the forthcoming
years. Other factors that are expected to have a positive impact on the market
include increasing incidence of neurological disorder, advances in technology,
device miniaturization and arrival of new neuromodulation devices. Moreover,
faster approval rate of new neuromodulation technologies is encouraging players
to concentrate on their R&D pipelines. However, new entrants will have to
overcome formidable challenges in order to compete with established players who
collectively account for a controlling stake of the market. Mergers and
acquisitions are expected to remain a key trend in the industry as big players
focus on expansion and local vendors try to leverage the know-hows of industry
leaders. Offering new and novel solutions will be key to achieving a
competitive edge in the market.
Global neuromodulation device
companies are as below.
Medtronic (Ireland),
St. Jude Medical, Inc. (U.S.),
Nevro Corp (U.S.),
NeuroSigma, Inc.(U.S.),
Neuronetics, Inc. (U.S.),
BioControl Medical (Israel),
DynaMD, Accellent (U.S),
Synapse Biomedical Inc. (U.S.),
Boston Scientific Corporation (U.S.),
NeuroPace, Inc. (U.S.), and
Soterix Medical Inc. (U.S)
are some of Neuromodulation
Devices Market Players profiled in MRFR’s report.
Global Neuromodulation Devices
Market: Segmental Analysis
·
Based
on type, the Neuromodulation Devices Market
Research has been segmented into time domain and spectral domain.
·
Based
on techniques, the market has been segmented into
doppler neuromodulation devices, polarization-sensitive neuromodulation
devices, and adaptive optics neuromodulation devices.
·
Based
on applications the market has been segmented into
eyes imaging and diabetic retinopathy.
Regional Outlook
Among regions, North America
currently accounts for a noteworthy Neuromodulation Devices Market share and expected to present lucrative growth opportunities for
players in 2018 and beyond. Presence of leading healthcare technology companies
in the region is major advantage for the market in North America. In addition,
high healthcare expenditure and awareness about availability of advanced
medical treatment modules is propelling the growth of the market in the
region. North America is followed by
Europe and Asia Pacific (APAC) respectively.
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