Market Analysis: Global Neuromodulation Devices Market
Neuromodulation devices market is set witness a substantial CAGR in the forecast period of 2019-2026. The report contains data of the base year 2018 and historic year 2017. Rising cases of neurological disorders and miniaturization of devices are the factor for the market growth.
Market Definition: Global Neuromodulation Devices Market
Neuromodulation is a prolific technology that uses electricity or chemical agents in the body to stimulate specific neurological sites or alter nerve activity. They are widely used for the treatment of condition such as epilepsy, Parkinson disease, dystonia and other. Mostly neuromodulation devices use electrical stimulation. These devices are widely used in application such as spinal cord stimulation, vagus nerve stimulation, gastric electrical stimulation, transcutaneous electric nerve stimulation among others.
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Market Drivers
• Technological advancement in neuromodulation devices will drive the market growth
• Increasing number of clinical trials worldwide also acts as a market driver
• Rising aging population is another factor boosting the market growth
• Increasing approval rate of neurostimulators will also contribute as a factor for this market growth
Market Restraints
• Lack of skilled and trained professional will restrict the growth of this market in the forecast period
• High investment cost will also hamper the market growth
• Unfavorable repayment policies will also impede the growth of this market
Segmentation: Global Neuromodulation Devices Market
By Product Type
o Internal Neuromodulation
o External Neuromodulation
By End- User
o Hospitals
o Clinics
o Home Healthcare
o Others
By Application
o Spinal Cord Stimulation
o Chronic Pain Management
o Failed Back Syndrome (FBSS)
o Ischemia
o Deep Brain Stimulation
o Parkinson’s Disease
o Tremor
o Depression
o Others
o Sacral Nerve Stimulation
o Urine Incontinence
o Fecal Incontinence
o Vagus Nerve Stimulation
o Epilepsy
o Others
o Gastric Electrical Stimulation
o Gastroparesis
o Obesity
o Transcutaneous Electrical Nerve Stimulation
o Treatment-Resistant Depression
o Other
o Repetitive Transcranial Magnetic Stimulation
o Depression
o Migraine Headache
o Respiratory Electrical Stimulation
o Spinal Cord Injury
o Other
By Biomaterial
o Metallic Biomaterials
o Polymeric Biomaterials
o Ceramic Biomaterials
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o Italy
o U.K.
o France
o Spain
o Netherlands
o Belgium
o Switzerland
o Turkey
o Russia
o Rest of Europe
• Asia-Pacific
o Japan
o China
o India
o South Korea
o Australia
o Singapore
o Malaysia
o Thailand
o Indonesia
o Philippines
o Rest of Asia-Pacific
• South America
o Brazil
o Rest of South America
• Middle East and Africa
o South Africa
o Rest of Middle East and Africa
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Key Developments in the Market:
• In October 2018, Heraeus Medical Components announced the acquisition of Evergreen Medical Technologies. This acquisition will help the company so they can provide different neuromodulation solutions to its medical device customers. With this acquisition, they can enhance their supply chain and provide cost effective solution to market
• In July 2016, Boston Scientific announced the acquisition Cosman Medical so they can enhance their neuromodulation portfolio. This will help the company to provide better treatment for the chronic diseases and also provide access to the Cosman’s radiofrequency ablation systems which is specially designed for neurosurgery and pain management. This will expand the Boston portfolio and will strengthen their market position
Competitive Analysis:
Global Neuromodulation devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of neuromodulation devices market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Market Competitors:
Few of the major competitors currently working in the global neuromodulation devices market are Medtronic; Boston Scientific Corporation; Nevro Corp.; NeuroSigma, Inc; NeuroPace, Inc.; Abbott.; Soterix Medical Inc; Synapse Biomedical Inc.; ReShape Lifesciences, Inc.; Bioness Inc.; Aleva Neurotherapeutics SA; LivaNova PLC; Neuronetics; Cyberonics, Inc; Neuromod; Axonics Modulation Tech; The Magstim Company Limited; Sooma Oy; CVRx; Helius Medical Technologies; WISE Srl; among others.
Primary Respondents
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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