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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Neuromodulation Devices Market Size
The global neuromodulation devices market reached a value of USD 8.65 billion in 2023. The market is likely to grow at a CAGR of 10.3% during the forecast period of 2024-2032 to reach a market value of USD 20.83 billion by 2032. The growth of the market can be attributed to the rising prevalence of neurological disorders.
Neuromodulation Devices Market Report Snapshots
Neuromodulation Devices Market Size
Neuromodulation Devices Market Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of USD 8.65 billion in 2023, driven by the increased prevalence of neurological disorders.
The market is likely to grow at a CAGR of 10.3% during the forecast period of 2024-2032 to reach a market value of USD 20.83 billion by 2032.
The rising prevalence of neurologic disorders, advancements in technology, and more extensive investments by key companies are the major factors driving the growth of the market.
Based on the disease, the market is categorised into pain management, neurological disorders, and respiratory disorders.
The distribution channels in this market are hospitals, testing laboratories, and research laboratories.
The different regions are North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa.
The expensive costs of the devices, stringent government policies, and lack of awareness are the limiting factors in this market.
Neuromodulation is primarily used to alleviate chronic pain and regulate normal movements.
Neuromodulation devices are the devices that are required to regulate the nerve signals and hence in the modulation of the nervous system.
The different types of neuromodulations are sacral nerve stimulation, deep brain stimulation, vagus nerve stimulation, and spinal cord stimulation.
The device finds applications in internal and external neuromodulation.
Lenire is a new neuromodulating device that US FDA has approved for clinical trials.
Yes, neuromodulation devices have found potential applications in cancer treatment.
The key companies involved in this market are NeuroPace, Inc., electroCore, Inc., Medtronic plc, LivaNova, PLC, Boston Scientific Corporation, Neuronetics, Inc., NeuroSigma, Inc., Nevro Corp., Synapse Biomedical, Inc., and Bioventus.
Neuromodulation devices are used to regulate the muscular contractions of the stomach. Hence, this helps in the treatment of GIT disorders.
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