Neuromodulation Devices Overview, Size, Share and Trends 2021-2028

[sayalim patil]

According to the Institute of Medicine (US), 100 million American adults are affected by chronic pain, higher than the combined total number of people effected by cancer, diabetes, and heart disease. Pain can affect in one’s body functioning even while performing the simplest activities. Neuromodulation has helped patients recover completely from these chronic pains and resume their routine lives. There are multiple types of neuromodulations that can be used such as spinal drug delivery systems, spinal cord stimulation, brain stimulation, sacral stimulation, peripheral nerve stimulation and peripheral nerve field stimulation.

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Many research and clinical trials have published promising papers proving the ability and safety of neuromodulation devices to improve quality of life of patients. The nervous system’s electrical properties were discovered more than a hundred years ago, however, they have only been harnessed for treatments recently. First cochlear implants, enhancing patients’ awareness of the environment and aid them with lip reading were invented in 1970s.
Based on technology the neuromodulation devices market is divided into spinal cord stimulators, deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, transcranial magnetic stimulators, and others. Spinal cord stimulators segment is expected to witness highest CAGR growth during the forecast period. Neuromodulation devices have grown at their highest in the last decade, with novel chronic pain indications, hardware advancements and waveforms. In 2021, Medtronic announced the FDA has approved its recharge-free neurostimulator for spinal cord stimulation, Vanta. In the same year, CVRx filed paperwork to hold an IOP to raise up to US$75 million to commercialize its neurostimulator for heart failure. Spinal cord stimulation (SCS) is used in many refractory chronic pain conditions like complex regional pain syndrome, failed back surgery syndrome, angina pectoris, abdominal pain, and ischemic limb pain.

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Based on application, neuromodulation devices market is segmented into pain management, hearing loss, depression, parkinson’s disease, epilepsy, and others. Pain management is expected to witness highest CAGR growth during the forecast period. Neuromodulation tools can increase or decrease the activity in the nervous system. This technology can be effective in reducing many nervous system related diseases, pain, hearing, epilepsy etc. According to WHO, there are currently 264 million people suffering from depression in 2020 and 50 million people suffering from epilepsy (2019) worldwide. Additionally, the national institutes of health in 2020 published that, 1 in 5 people in the United States suffer from chronic pain. Recent advancements in cochlear implants have enabled people to hear and understand speech.

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Cochlear implants save US$ 30,000-50,000 per person over their lifetimes. More than 100,000 parkinson’s patients have been implanted with Deep brain stimulation (DBS). This is better than drug therapy, which causes unpleasant side-effects. DBS can reduce the patient’s reliance on drugs and lessen their side effects by up to 44%.

Table of Contents

1 MARKET INTRODUCTION
1.1 Market Definitions
1.2 Objective of the Study
1.3 Limitation
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the Neuromodulation Devices Market Study
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Research Methodology for the Neuromodulation Devices Market
2.1.1 Main Objective of the Neuromodulation Devices Market
3 INDUSTRY PERFORMANCE
4 EXECUTIVE SUMMARY
5 COVID-19 IMPACT
6 MARKET INSIGHTS BY TECHNOLOGY
6.1 Spinal Cord Stimulators
6.2 Deep Brain Stimulators
6.3 Sacral Nerve Stimulators
6.4 Vagus Nerve Stimulators
6.5 Transcranial Magnetic Stimulators
6.6 Others
7 MARKET INSIGHTS BY APPLICATION
7.1 Pain Management
7.2 Hearing Loss
7.3 Depression
7.4 Parkinson's Disease
7.5 Epilepsy
7.6 Others
8 MARKET INSIGHTS BY REGION
8.1 NORTH AMERICA NEUROMODULATION DEVICES MARKET
8.1.1 United States of America
8.1.2 Canada
8.1.3 Rest of North America
8.2 EUROPE NEUROMODULATION DEVICES MARKET
8.2.1 United Kingdom
8.2.2 Germany
8.2.3 France
8.2.4 Spain
8.2.5 Italy
8.2.6 Rest of Europe
8.3 ASIA-PACIFIC NEUROMODULATION DEVICES MARKET
8.3.1 China
8.3.2 Japan
8.3.3 India
8.3.4 Australia
8.3.5 Rest of Asia-Pacific
8.4 REST OF THE WORLD NEUROMODULATION DEVICES MARKET
9 LEGAL AND REGULATORY FRAMEWORK
10 DEMAND AND SUPPLY SIDE ANALYSIS
10.1 Demand Side Analysis

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