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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 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.
1 Preface
1.1 Objectives of the Study
1.1.1 Research Objectives
1.1.2 Key Findings of the Report
1.2 Limitations of the Study and Scope for Future Research
2 Research Methodology
3 Executive Summary
4 Global Neuromodulation Devices Market
4.1 Global Neuromodulation Devices Market Overview
4.2 Global Neuromodulation Devices Market Analysis
4.2.1 Market Overview
4.2.1.1 Global Neuromodulation Devices Market Historical Value (2017-2023)
4.2.1.2 Global Neuromodulation Devices Market Forecast Value (2024-2032)
4.3 Global Neuromodulation Devices Market by Type
4.3.1 Market Overview
4.3.1.1 Invasive
4.3.1.2 Non-Invasive
4.3.1.3 Others
4.4 Global Neuromodulation Devices Market by Application
4.4.1 Market Overview
4.4.1.1 Internal Neuromodulation
4.4.1.1.1 Spinal Cord Stimulation
4.4.1.1.2 Deep Brain Stimulation
4.4.1.1.3 Vagus Nerve Stimulation
4.4.1.1.4 Sacral Nerve Stimulation
4.4.1.1.5 Gastric Electric Stimulation
4.4.1.2 External Neuromodulation
4.4.1.2.1 Transcutaneous Electrical Nerve Stimulation
4.4.1.2.2 Transcranial Magnetic Stimulation
4.4.1.2.3 Respiratory Electrical Stimulation
4.4.1.3 Others
4.5 Global Neuromodulation Devices Market by Indication
4.5.1 Market Overview
4.5.1.1 Pain Management
4.5.1.2 Neurological Disorders
4.5.1.3 Respiratory Disorders
4.5.1.4 Others
4.6 Global Neuromodulation Devices Market by Distribution Channels
4.6.1 Market Overview
4.6.1.1 Hospitals
4.6.1.2 Testing Laboratories
4.6.1.3 Research Laboratories
4.7 Global Neuromodulation Devices Market by Region
4.7.1 Market Overview
4.7.1.1 North America
4.7.1.2 Europe
4.7.1.3 Asia Pacific
4.7.1.4 Latin America
4.7.1.5 Middle East and Africa
4.7.2 North America
4.7.2.1 Historical Trend (2017-2023)
4.7.2.2 Forecast Trend (2024-2032)
4.7.2.3 Break Up by Country
4.7.2.3.1 United States of America
4.7.2.3.2 Canada
4.7.3 Europe
4.7.3.1 Historical Trend (2017-2023)
4.7.3.2 Forecast Trend (2024-2032)
4.7.3.3 Break Up by Country
4.7.3.3.1 United Kingdom
4.7.3.3.2 Germany
4.7.3.3.3 France
4.7.3.3.4 Italy
4.7.3.3.5 Others
4.7.4 Asia Pacific
4.7.4.1 Historical Trend (2017-2023)
4.7.4.2 Forecast Trend (2024-2032)
4.7.4.3 Break Up by Country
4.7.4.3.1 China
4.7.4.3.2 Japan
4.7.4.3.3 India
4.7.4.3.4 ASEAN
4.7.4.3.5 Australia
4.7.4.3.6 Others
4.7.5 Latin America
4.7.5.1 Historical Trend (2017-2023)
4.7.5.2 Forecast Trend (2024-2032)
4.7.5.3 Break Up by Country
4.7.5.3.1 Brazil
4.7.5.3.2 Argentina
4.7.5.3.3 Mexico
4.7.5.3.4 Others
4.7.6 Middle East and Africa
4.7.6.1 Historical Trend (2017-2023)
4.7.6.2 Forecast Trend (2024-2032)
4.7.6.3 Break Up by Country
4.7.6.3.1 Saudi Arabia
4.7.6.3.2 United Arab Emirates
4.7.6.3.3 Nigeria
4.7.6.3.4 South Africa
4.7.6.3.5 Others
5 Trade Data Analysis by HS Code
5.1 Neurostimulators- 90189099
5.2 Implantable Neurostimulators- 90189098
6 Current Scenario Evaluation and Regulatory Framework
6.1 Emerging Therapies and Clinical Trials Synopsis
6.2 Patent Landscape
6.2.1 Patent Overview
6.2.1.1 Patent Status and Expiry
6.2.1.2 Timelines from Device Development to Commercial Launch
6.2.1.3 New Device Application
6.2.1.3.1 Documentation and Approval Process
6.3 Cost of Treatment
6.4 Regulatory Framework
6.4.1 Regulatory Overview
6.4.1.1 US FDA
6.4.1.2 EU EMA
6.4.1.3 INDIA CDSCO
6.4.1.4 JAPAN PMDA
6.4.1.5 Others
7 Global Neuromodulation Devices Market Dynamics
7.1 Market Drivers and Constraints
7.2 SWOT Analysis
7.3 Porter’s Five Forces Model
7.4 Key Demand Indicators
7.5 Key Price Indicators
7.6 Industry Events, Initiatives, and Trends
7.7 Value Chain Analysis
8 Supplier Landscape
8.1 NeuroPace, Inc.
8.1.1 Company Overview
8.1.2 Product Portfolio
8.1.3 Demographic Reach and Achievements
8.1.4 Mergers and Acquisitions
8.1.5 Certifications
8.2 electroCore, Inc.
8.2.1 Company Overview
8.2.2 Product Portfolio
8.2.3 Demographic Reach and Achievements
8.2.4 Mergers and Acquisitions
8.2.5 Certifications
8.3 Medtronic plc
8.3.1 Company Overview
8.3.2 Product Portfolio
8.3.3 Demographic Reach and Achievements
8.3.4 Mergers and Acquisitions
8.3.5 Certifications
8.4 LivaNova, PLC
8.4.1 Company Overview
8.4.2 Product Portfolio
8.4.3 Demographic Reach and Achievements
8.4.4 Mergers and Acquisitions
8.4.5 Certifications
8.5 Boston Scientific Corporation
8.5.1 Company Overview
8.5.2 Product Portfolio
8.5.3 Demographic Reach and Achievements
8.5.4 Mergers and Acquisitions
8.5.5 Certifications
8.6 Neuronetics, Inc.
8.6.1 Company Overview
8.6.2 Product Portfolio
8.6.3 Demographic Reach and Achievements
8.6.4 Mergers and Acquisitions
8.6.5 Certifications
8.7 NeuroSigma, Inc.
8.7.1 Company Overview
8.7.2 Product Portfolio
8.7.3 Demographic Reach and Achievements
8.7.4 Mergers and Acquisitions
8.7.5 Certifications
8.8 Nevro Corp.
8.8.1 Company Overview
8.8.2 Product Portfolio
8.8.3 Demographic Reach and Achievements
8.8.4 Mergers and Acquisitions
8.8.5 Certifications
8.9 Synapse Biomedical, Inc.
8.9.1 Company Overview
8.9.2 Product Portfolio
8.9.3 Demographic Reach and Achievements
8.9.4 Mergers and Acquisitions
8.9.5 Certifications
8.10 Bioventus
8.10.1 Company Overview
8.10.2 Product Portfolio
8.10.3 Demographic Reach and Achievements
8.10.4 Mergers and Acquisitions
8.10.5 Certifications
9 Recommendations and Discussion
10 Pricing Models and Strategies (Additional Insight)
10.1 Overview
10.2 Cost Model
10.2.1 Manufacturing Cost Analysis
10.2.2 Procurement Cost Analysis
10.2.3 Clinical Trial Cost Factors
10.3 Pricing Strategies
10.3.1 Competitor Pricing Analysis
10.3.2 Key Assessment of Product Attributes
10.3.3 Pricing Benchmark
11 Global Neuromodulation Devices Distribution Model (Additional Insight)
11.1 Overview
11.2 Potential Distributors
11.3 Key Parameters for Distribution Partner Assessment
*Additional insights provided are customisable as per client requirements.
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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