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Neuromodulation Devices Market Size 2022 Growing Rapidly with Modern Trends, Industry Share, Methodology Approach, Future Business Prospect by Forecast to 2030

By Healthcare Market Report 2 years ago
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Neuromodulation Devices Market: Introduction

Implantable medical devices called neuromodulation devices provide treatment for some chronic conditions through electric stimulation or medicines. Neuromodulation devices are divided into five main categories based on the diseases they help treat and the types of nerves they are associated with, including spinal cord stimulation devices, deep brain stimulation devices, vagus nerve stimulation devices, sacral nerve stimulation devices, and gastric electric stimulation devices.

By applying chemicals or electrical stimulation to certain neurological areas in the body, neuromodulation technology is used to change or modulate nerve function. The majority of neuromodulation tools function by electrical stimulation. Electrodes are applied to the brain, peripheral nerves, or spinal cord when neuromodulation devices are employed.

Neuromodulation Devices Market: Overview

Neuromodulation Devices Market was valued at $2,480.21 million in 2020, and is projected to reach $4,342.50 million by 2030, growing at a CAGR of 6.2% from 2021 to 2030.

People searching for a thorough examination and analysis of this market may start with the market report on neuromodulation devices. This report includes a wide range of research and data that will assist you in identifying your market niche and focusing on important regional and international distribution channels. You will be given information about the market’s size, demand in the current and future years, the supply chain, trading concerns, competitive analysis, prices, and vendor details so that you may understand the competition and take actions based on your main strengths. The research provides information on significant market participants as well as applications, types, trends, and market shares for Neuromodulation Devices.

Neuromodulation Devices Market: Growth Drivers

The prevalence of chronic pain is rising globally, which is a key factor driving the expansion of the neurostimulation device market. By blocking the pain signals before they reach the brain, these devices are useful in the management of pain brought on by various traumas and chronic conditions. In addition, as compared to persons in younger age groups, the elderly are more prone to chronic pain and neurological conditions including Alzheimer’s disease, epilepsy, and Parkinson’s disease, which is driving higher demand for these devices.

The market for neurostimulation devices is expanding due to factors other than those already mentioned, such as manufacturers’ growing R&D expenditures for the creation of technologically improved goods.

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Global Neuromodulation Devices Market: Segmentation

By Top Key Players

  • Cyberonics
  • Neuronetics
  • Medtronic
  • Synapse Biomedical
  • Neurosigma
  • BioControl Medical
  • Neuropace
  • Boston Scientific Corporation
  • Jude Medical
  • Nevro

By Types

  • Deep Brain Stimulation (DBS) Systems
  • Spinal Cord Stimulator (SCS) Systems
  • Diaphragm Pacing System (DPS)
  • Respiratory Electrical Stimulation (RES)
  • Vagus Nerve Stimulation (VNS)
  • Gastric Electrical Stimulation (GES)
  • Transcranial Magnetic Stimulation (TMS)
  • Transcutaneous Electrical Nerve Stimulation (TENS)

By Applications

  • Chronic Pain
  • Parkinson’s Disease
  • Urinary Fecal Incontinence
  • Refractory Epilepsy
  • Essential Tremor
  • Dystonia
  • Gastroparesis
  • Treatment-Resistant Depression (TRD)
  • Obsessive Compulsive Disorder (OCD)
  • Other Applications

By Regions

  • North America
  • Europe
  • China
  • Japan
  • Middle East and Africa
  • South America
  • India
  • South Korea
  • Southeast Asia
  • Others

COVID-19 Impact 

The COVID-19 pandemic outbreak was brought on by the coronavirus’ quick dissemination. Many regions of the world are significantly impacted by the spread of this virus. A new strain of the virus has arisen and is posing a significant problem for the nations that have yet to fully recover from this infection. Both governments and corporations are having problems as a result of the global economy. In addition to the healthcare sector, the pandemic has had a substantial influence on numerous other industries. The epidemic is causing a boom in demand in the healthcare industry, and the cause is obvious. The healthcare industry will expand even more as a result of the pandemic’s increasing quantity of health issues. Numerous diseases are treated with neuromodulation technology. Many people have had severe

FAQs

  • What is the driving factor for the growth of this market?
  • How will the COVID-19 pandemic impact the demand and consumption of the Neuromodulation Devices market?
  • What is the major application area of the Neuromodulation Devices market?
  • Who are the Neuromodulation Devices manufacturers across the globe?
  • Which geographical location is dominant in the Neuromodulation Devices market?
  • Which are the top industry players in the Neuromodulation Devices market?

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