Neuromodulation Market by Trend, Share, Size and Streamline
The global Neuromodulation Market size is projected to reach a CAGR of 11.2% from 2023-2030.
Neurological disorders are defined as disorders that affect the brain as well as the nerves found throughout the human body and the spinal cord. Acute spinal cord injury, Alzheimer’s disease, amyotrophic lateral sclerosis (ALS), ataxia, bell's palsy, brain tumors, cerebral aneurysm, epilepsy, and seizures are some of the common neurological disorders. The biochemical, structural, or electrical abnormalities in the brain, spinal cord, or other nerves result in a wide range of symptoms, such as memory loss, impaired mental ability, lack of coordination, and persistent or sudden onset of a headache.
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Neuromodulation technology utilizes devices that bring about a change in the nervous system either by stimulation or by modulating brain activity. These are used when the traditional treatments have failed to evoke the desired response.
Recent Developments
In February 2022, Medtronic (Ireland) received FDA approval for its InterStim X System, a next-generation personalized sacral nerve stimulation therapy for bladder and bowel control.
In June 2021, NeuroSigma (US) and KT Corporation (South Korea) signed a memorandum of understanding for a strategic partnership to develop and commercialize, inside and outside of Korea, electronic therapies treating neurological and neuropsychological disorders, including ADHD, depression, and epilepsy.
Prominent Players
- Abbott
- Aleva
- Neurotherapeutics SA.
- Boston Scientific Corporation
- LivaNova
- Medtronic
- MicroTransponder
- Neuronetics
- NeuroPace Inc.
- NeuroSigma
- Nevro Corporation
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North America to Dominate the Market
North America garnered the major share in the neuromodulation market in 2021 and is expected to dominate the global market during the forecast period.
The growth is due to the rise in the prevalence of neurological diseases, the presence of key players in the development of neuromodulation devices, and the well-established infrastructure in the region.
Neuromodulation Market Segmentation:
On the basis of technology
· Internal Neuromodulation
· External Neuromodulation
On the basis of application
· Chronic Pain
· Urinary And Fecal Incontinence
· Migraine
· Failed Back Syndrome
· Parkinson Disease
· Epilepsy
· Tremor
· Depression
· Other Applications
On the basis of biomaterial
· Metallic Biomaterials
· Polymeric Biomaterials
· Ceramic Biomaterials
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
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Frequently Asked Questions
· What are the years considered to study Neuromodulation Market?
· What is the compound annual growth rate (CAGR) of the Neuromodulation Market?
· Which region holds the largest market share in Neuromodulation Market?
· Which region is the fastest growing region in Neuromodulation Market?
· Who are the major players in Neuromodulation Market?
In addition to the market data for Neuromodulation Market, Delvens offers a client-centric report customized according to the company’s specific demand and requirement.
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