Neuromodulation market is expected to grow at a significant rate during the forecast period 2019-2025. Neuromodulation uses pharmaceutical agents, electrical signals, or other forms of energy for stimulating nerves by modulating abnormal neural pathway behavior caused by the disease. The neuromodulation treatment approach involves non-invasive techniques such as transcranial magnetic stimulation as well as implanted devices including spinal cord stimulation or a deep brain stimulation system. The global neuromodulation market is estimated to grow at a significant rate during the forecast period.
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The major factor that is contributing to the growth of the global neuromodulation market includes the increasing prevalence of neurological disorder. In addition, the rapid rise in the geriatric population pool further boosts the growth of the global neuromodulation market, as this population pool is more vulnerable to neurological disorders such as Alzheimer’s disease. Further, increasing awareness regarding the safety and efficacy of neurostimulator devices is also surging the growth of the global neuromodulations market. However, factors such as stringent government regulations, and a dearth of trained healthcare professionals serve as the major barriers in the growth of the market across the globe.
The global neuromodulation market is segmented on the basis of technology, application, and region. On the basis of technology, the market is further diversified into internal neuromodulation and external neuromodulation. Internal neuromodulation includes spinal cord stimulation (SCS), deep brain stimulation (DBS), vagus nerve stimulation (VNS), sacral nerve stimulation (SNS), and gastric electrical stimulation (GES), while external neuromodulation includes transcutaneous electrical nerve stimulation (TENS), transcranial magnetic stimulation (TMS), and respiratory electrical stimulation (RES). Moreover, on the basis of application, the market is further segmented into chronic pain, Parkinson’s disease, OCD, TRD, urinary and fecal disorder, and others.
Geographically, the market is analyzed into North America, Europe, Asia-Pacific and Rest of the World. Among these, North America is estimated to hold a significant share owing to the presence of a large population pool suffering from neurological disorders. In addition, the presence of major market players such as Abbott Laboratories Inc., and Boston Scientific Corp. further fuel the growth of the North American neuromodulation market. Moreover, Asia-Pacific is estimated to exhibit a significant growth rate during the forecast period owing to the increasing geriatric population in the region. Further, improving the healthcare infrastructure of the region also contribute to the growth in the Asia-Pacific region.
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Neuromodulation Market Segmentation
By Technology
· Internal Neuromodulation
· Spinal Cord Stimulation (SCS)
· Deep Brain Stimulation (DBS)
· Sacral Nerve Stimulation (SNS)
· Vagus Nerve Stimulation (VNS)
· Gastric Electrical Stimulation (GES)
· External Neuromodulation
· Transcutaneous Electrical Nerve Stimulation (TENS)
· Transcranial Magnetic Stimulation (TMS)
· Respiratory Electrical Stimulation (RES)
By Application
· Chronic Pain
· Parkinson’s Disease
· Obsessive Compulsive Disorder (OCD)
· Treatment-Resistant Depression (TRD)
· Urinary and Fecal Disorders
· Others (Ischemia, Epilepsy)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
