Market Overview:
The global neurostimulation and neuromodulation device market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in this market can be attributed to the increasing prevalence of neurological disorders, technological advancements in neurostimulation devices, and rising demand for minimally invasive surgeries. The global neurostimulation and neuromodulation device market is segmented on the basis of type into internal and external devices. The internal devices segment is further sub-segmented into implantable pulse generators (IPGs) and spinal cord stimulators (SCSs). The external devices segment is further sub-segmented into transcranial magnetic stimulation (TMS) systems, deep brain stimulation (DBS) systems, vagus nerve stimulator (VNS) systems, sacral nerve stimulator (SNS) systems, gastric electrical stimulator (GES) systems, percutaneous electrical nerve stimulation system for overactive bladder treatment), and other external devices. On the basis of application, the global neurostimulation and neuromodulation device market is divided into hospitals & clinicsand ambulatory surgery centers. Hospitals & clinics are further classified as general hospitals& specialty hospitals such as neurology hospitals& psychiatric hospitals; whereas ambulatory surgery centers are classified as freestanding ASCs or hospital-based ASCs .
Product Definition:
Neurostimulation is the electrical stimulation of nervous tissue, typically to treat pain. A neuromodulation device is a medical device that uses electrical current or magnetic fields to modulate the activity of neurons.
Internal:
Internal neuromodulation is the process of altering the neural activity by using techniques such as electrical stimulation, magnetic stimulation and ultrasound. Internal neuromodulation device market is expected to grow at a significant rate owing to factors such as increasing prevalence of chronic diseases like Parkinson’s disease, epilepsy and Alzheimer’s disease along with rising awareness about these devices among patients. Moreover, technological advancements in this field are also expected to drive growth during the forecast period.
External:
External Neurostimulation and Neuromodulation Devices are used for the treatment of various neurological disorders such as Parkinson’s disease, epilepsy, dystonia, essential tremor. These devices send electrical signals to the brain to control or alter certain abnormal activities associated with a particular neurological disorder. External neurostimulators produce weak electric fields that stimulate nerve cells in order to reduce neuronal excitability and prevent seizures.
Application Insights:
Based on application, the global market is segmented into hospitals and clinics, ambulatory surgery centers (ASCs), home healthcare, and others. The hospitals and clinics segment dominated the overall market in terms of revenue in 2017. This can be attributed to a large patient base that requires chronic pain management as well as other associated conditions such as Parkinson¢â‚¬â„¢s disease, epilepsy, cancer etc., which are targeted by this technology. Furthermore, increasing R&D investments by major players for developing advanced devices for pain management is further expected to drive growth over the forecast period.
The ASCs segment is anticipated to witness lucrative growth during the forecast period owing to an increase in demand for minimally invasive neurostimulation or neuromodulation procedures that offer benefits such as less invasiveness compared with traditional methods; reduced risk of infection; shorter treatment time; better cosmetic appearance resulting in a reduction of complications post-treatment thus improving clinical outcomes.
Regional Analysis:
North America dominated the global market in 2017 owing to a rise in the prevalence of Parkinson’s disease, which is one of the most common movement disorders. According to Parkinson's Foundation, around 60,000 people are diagnosed with PD every year in U.S., and this number is growing rapidly. In addition, an increase in government funding for research and development activities pertaining to chronic pain management has also contributed towards regional growth.
The European neurostimulation device market was valued at USD X million in 2017.
Growth Factors:
- Increasing prevalence of neurological disorders: The global prevalence of neurological disorders is increasing at a significant rate. This is primarily attributed to the aging population and the rising incidence of chronic diseases such as Alzheimer’s disease, Parkinson’s disease, and stroke. According to a study by the World Health Organization (WHO), the number of people with dementia is expected to reach 131 million by 2050. This will create a large pool of patients who will require treatment for their neurological conditions, thereby driving demand for neurostimulation and neuromodulation devices.
- Growing awareness about benefits of neurostimulation and neuromodulation: There is growing awareness among healthcare professionals and patients about the benefits of neurostimulation and neuromodulation therapies for treating various neurological conditions. This has led to an increase in adoption rates for these therapies, which in turn is propelling growth in the market for neurostimulation and neuromodulation devices.
- Technological advancements: The market for neurostimulations devices is witnessing rapid technological advancements, with manufacturers introducing new products that are more effective and offer better patient outcomes than earlier versions available in the market place .This trend is likely to continue over the forecast period, resulting in increased demand from consumers worldwide .
Scope Of The Report
Report Attributes
Report Details
Report Title
Neurostimulation and Neuromodulation Device Market Research Report
By Type
Internal, External
By Application
Hospitals and clinics, Ambulatory Surgery Center
By Companies
Axogen, Baxter, Boston Scientific, Livanova, Integra Lifesciences, Medtronic, Abbott Laboratories, Stryker, Polyganics, Nuvectra, Axogen, Orthomed, Nevro
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
132
Number of Tables & Figures
93
Customization Available
Yes, the report can be customized as per your need.
Global Neurostimulation and Neuromodulation Device Market Report Segments:
The global Neurostimulation and Neuromodulation Device market is segmented on the basis of:
Types
Internal, External
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals and clinics, Ambulatory Surgery Center
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Axogen
- Baxter
- Boston Scientific
- Livanova
- Integra Lifesciences
- Medtronic
- Abbott Laboratories
- Stryker
- Polyganics
- Nuvectra
- Axogen
- Orthomed
- Nevro
Highlights of The Neurostimulation and Neuromodulation Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Internal
- External
- By Application:
- Hospitals and clinics
- Ambulatory Surgery Center
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Neurostimulation and Neuromodulation Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A neurostimulation and neuromodulation device is a medical device that uses electrical stimulation or drugs to improve the function of the nervous system.
Some of the major players in the neurostimulation and neuromodulation device market are Axogen, Baxter, Boston Scientific, Livanova, Integra Lifesciences, Medtronic, Abbott Laboratories, Stryker, Polyganics, Nuvectra, Axogen, Orthomed, Nevro.
The neurostimulation and neuromodulation device market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Neurostimulation and Neuromodulation Device Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Neurostimulation and Neuromodulation Device Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Neurostimulation and Neuromodulation Device Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Neurostimulation and Neuromodulation Device Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Neurostimulation and Neuromodulation Device Market Size & Forecast, 2020-2028
4.5.1 Neurostimulation and Neuromodulation Device Market Size and Y-o-Y Growth
4.5.2 Neurostimulation and Neuromodulation Device Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Internal
5.2.2 External
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospitals and clinics
6.2.2 Ambulatory Surgery Center
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Neurostimulation and Neuromodulation Device Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Neurostimulation and Neuromodulation Device Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Internal
9.6.2 External
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospitals and clinics
9.10.2 Ambulatory Surgery Center
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Internal
10.6.2 External
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospitals and clinics
10.10.2 Ambulatory Surgery Center
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Internal
11.6.2 External
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospitals and clinics
11.10.2 Ambulatory Surgery Center
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Internal
12.6.2 External
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospitals and clinics
12.10.2 Ambulatory Surgery Center
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Internal
13.6.2 External
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospitals and clinics
13.10.2 Ambulatory Surgery Center
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Neurostimulation and Neuromodulation Device Market: Competitive Dashboard
14.2 Global Neurostimulation and Neuromodulation Device Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Axogen
14.3.2 Baxter
14.3.3 Boston Scientific
14.3.4 Livanova
14.3.5 Integra Lifesciences
14.3.6 Medtronic
14.3.7 Abbott Laboratories
14.3.8 Stryker
14.3.9 Polyganics
14.3.10 Nuvectra
14.3.11 Axogen
14.3.12 Orthomed
14.3.13 Nevro
