A recent report published by Infinium Global Research on
neuromodulation market provides in depth analysis of segments and sub-segments
in global as well as regional neuromodulation market. The study also highlights
the impact of drivers, restraints and macro indicators on the global and
regional neuromodulation market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of
global neuromodulation market. According to report the global neuromodulation
market is projected to grow at a CAGR of 10.9% over the forecast period of
2017-2023.
Neuromodulation includes treatments that involve stimulation or
administration of medications directly to the body’s nervous system for
therapeutic purposes. The target cells for stimulation include nerves in the
central and peripheral nervous systems, the autonomic nervous system, and the
deep cell nuclei of the brain, resulting in modulation of their activity.
Neuromodulation includes several modalities, and is a cross-disciplinary
approach to pain control and neurologic dysfunction. Neuromodulation can be
used to treat movement disorders, spasticity, and epilepsy, as well as pain
syndromes. Devices are implanted which can either include drug delivery pumps
or neural stimulators. The most common type is spinal cord stimulation, which
is used for back or lower extremity pain. Spinal cord stimulation involves
electrical stimulation of the spinal cord to interrupt pain signals from the
spinal cord to the brain, and to trade a painful sensation with a more pleasant
tingling sensation. The technology has been present since the 1960s and in the
past decade has become highly effective in the treatment of pain. In addition
to chronic pain relief, other neuromodulation treatments now used include deep
brain stimulation for essential tremor, Parkinson’s disease, dystonia, epilepsy
and disorders such as depression, obsessive compulsive disorder and Tourette
syndrome; sacral nerve stimulation for pelvic disorders and incontinence;
gastric and colonic stimulation for gastrointestinal disorders such as
dysmotility or obesity; vagus nerve stimulation for epilepsy, obesity or
depression; carotid artery stimulation for hypertension; and spinal cord
stimulation for ischemic disease such as angina and peripheral vascular
disease.
Figure 1: Global Neuromodulation
Market by Value 2015-2023
Market
Insights
Rise in base of geriatric population,
increasing number of patients with neurological disorders, strong product
pipeline with various innovations, increasing number of target applications,
and increasing demand from emerging countries are the primary driving factors
contributing for the growth of this market. Neuromodulation is reversible and
adjustable, in which physicians can on-invasively manage the electrical
parameters with a programmer to effectively control disease symptoms. However,
there are certain factors which could hamper the growth of this market,
includes unfavorable reimbursement scenario and lack of sufficient number of
trained professionals to treat disorders.
Segment Covered
The report on global neuromodulation market covers segments such
as, technology and application. On the
basis of technology the global neuromodulation market is categorized into deep
brain stimulation, spinal cord stimulation, gastric stimulation, sacral nerve
stimulation, vagus nerve stimulation and others. On the basis of application
the global neuromodulation market is categorized into chronic pain, parkinson’s
disease, dystonia, essential tremor, gastroparesis, obsessive compulsive
disorder (OCD), refractory epilepsy, treatment resistant depression (TRD),
urinary fecal incontinence and other applications.
Geographic Coverage
The report provides regional analysis covering geographies such as
North America, Europe, Asia-Pacific, and Rest of the World. In this section the
key trends and market size for each geography is provided over the period of
2015-2023.
Figure 2: Global Neuromodulation
Market by Region, CAGR % 2017-2023
The countries covered in the North America region include the
U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India,
South Korea, Malaysia, and among others. Moreover, Germany, U.K., France,
Spain, and Rest of Europe are included in the European region. The U.S. drives
the growth in the North America region as it is the largest market in the
region. The Asia-pacific region offers a substantial potential for the market
growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a
growth at a CAGR of x.x% over the period of 2017-2023.
Companies Profiled:
The report provides profiles of the companies in the global
neuromodulation market such as, Medtronic plc, Boston Scientific Corporation,
St. Jude Medical, Cyberonics, Cochlear Ltd., Advanced Bionics, Sonova Group,
Nevro Corporation, Neuronetics, Inc. and Greatbatch.
Report Highlights:
The report provides deep insights on demand forecasts, market
trends and micro and macro indicators. In addition, this report provides
insights on the factors that are driving and restraining the global
neuromodulation market. Moreover, IGR-Growth Matrix analysis given in the
report brings an insight on the investment areas that existing or new market
players can consider. The report provides insights into the market using
analytical tools such as Porter's five forces analysis and DRO analysis of
neuromodulation market. Moreover, the study highlights current market trends
and provides forecast from 2017-2023. We also have highlighted future trends in
the neuromodulation market that will impact the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight on the market share of the leading players. This report will help
manufacturers, suppliers and distributors of the neuromodulation market to
understand the present and future trends in this market and formulate their
strategies accordingly.
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