Future of Neuromodulation Devices Market: Insights from Industry Experts
The global neuromodulation devices market size is expected to reach USD 10.39 billion by 2030, registering a CAGR of 8.51% from 2025 to 2030, according to a new report by Grand View Research, Inc. The market's growth can be attributed to factors such as rising prevalence of neurological disorders, rising government support to R&D and development of advanced solutions with increased range of applications.
Significant funding from government and private agencies plays a crucial role in advancing the understanding of neurological disorders and improving treatment options. By allocating resources to research initiatives, governments actively facilitate groundbreaking discoveries, encourage technological innovations, and promote the development of more effective neuromodulation technologies. For instance, in August 2024, the Parkinson's Foundation announced an investment of nearly USD 3 million in 33 research grants aimed at advancing the understanding and treatment of Parkinson's disease (PD). This funding will support innovative research projects focusing on various aspects of PD, including its causes, progression, and potential therapies. The grants are part of the Foundation's commitment to fostering scientific advancements that can lead to improved patient outcomes. This financial backing is vital for shaping the treatment landscape for neurological disorders and driving positive changes in patient care.
Furthermore, the increasing accessibility of these advanced devices to patients and healthcare professionals has further increased their adoption. Expanding reimbursement is improving patient access to these advanced therapies. In recent years, healthcare systems have increasingly acknowledged the effectiveness of neuromodulation devices in managing chronic pain, neurological disorders, and various other medical conditions, which has led many healthcare payers to include these devices in their coverage policies. For instance, in February 2024, Nerivio Remote Electrical Neuromodulation (REN) wearable by Theranica became the first non-pharmacological migraine treatment to get commercial coverage in the U.S. from Highmark Inc. The wearable offers acute and preventive treatment options, demonstrating significant clinical benefits in reducing migraine symptoms. Thus, the growing acceptance of neuromodulation therapies among payers is driving market growth.
Gather more insights about the market drivers, restrains and growth of the Neuromodulation Devices Market
Neuromodulation Devices Market Report Highlights
• Spinal cord stimulators held the largest market share of around 39.67% in 2024. Spinal cord stimulation devices are primarily used for patients without sufficient pain relief from non-surgical pain treatments.
• Parkinson’s disease held the largest market share of around 26.90% in 2024. The rising prevalence of Parkinson's disease, coupled with the increasing acceptance of deep brain stimulation as an effective treatment option, is expected to drive segment growth.
• Hospitals & Ambulatory Surgery Centers (ASC) held the largest market share in 2024 and the same segments are expected to show fastest growth during the forecast period.
• North America neuromodulation devices market dominated with a share of 43.68% in 2024, owing to increase in the prevalence of various neurological disorders, such as Alzheimer’s disease, Parkinson’s disease, and epilepsy, and a rise in the demand for minimally invasive neurological procedures.
Neuromodulation Devices Market Segmentation
Grand View Research has segmented global neuromodulation devices market report on the basis of product, application, end-use and region:
Neuromodulation Devices Product Outlook (Revenue USD Million, 2018 - 2030)
• Spinal Cord Stimulators
• Deep Brain Stimulators
• Sacral Nerve Stimulators
• Vagus Nerve Stimulators
• Gastric Electrical Stimulation
• Others
Neuromodulation Devices Application Outlook (Revenue USD Million, 2018 - 2030)
• Parkinson’s Disease
• Chronic Pain
• Epilepsy
• Migraine
• Urinary & Faecal Incontinence
• Tremor
• Depression
• Others
Neuromodulation Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)
• Hospitals & Ambulatory Surgery Centers (ASC)
• Clinics & Physiotherapy Centers
• Others
Neuromodulation Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Norway
o Denmark
o Sweden
• Asia Pacific
o Japan
o China
o India
o Australia
o South Korea
o Thailand
• Latin America
o Brazil
o Argentina
• Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o UAE
o Kuwait
List of Key Players of Neuromodulation Devices Market
• Abbott
• Medtronic
• Boston Scientific Corporation
• Nexstim
• LivaNova PLC
• Neuropace Inc.
• Nevro Corporation
• electroCore, Inc.
• Axonics, Inc.
• Laborie
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