Internal Neuromodulation segment is expected to drive the growth of the Asia Pacific Neuromodulation market by Technology
According to the latest study on ‘Asia Pacific Neuromodulation Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Technology, Application, End User, and Country,’ the Asia Pacific Neuromodulation market was valued at US$ 1,559.89 million in 2019 and is projected to reach US$ 3,518.34 million by 2027; it is expected to grow at a CAGR of 11.0% during 2020–2027. The report highlights the trends prevailing in the Asia Pacific neuromodulation market and the factors driving the market along with those that act as deterrents to its growth.
Based on technology, the neuromodulation market is segmented external (non-invasive) neuromodulation and internal neuromodulation. In 2019, the internal neuromodulation segment accounted for the largest share of the Asia Pacific neuromodulation market. The growth of the segment attributes to growth of internal neuromodulation segment is attributed to increasing product launches in the market, the rising product innovation for neuromodulation devices and growing developments in neuromodulation technology are some of the primary factors contributing to the dominance of the segment in the Asia Pacific Neuromodulation market. Additionally, the outbreak of the COVID-19 pandemic has highly affected the countries in the Asia Pacific region.
Abbott, Boston Scientific Corporation, Medtronic, NeuroPace, Inc., NeuroSigma, Inc., NEVRO CORP, Synapse Biomedical Inc., Soterix Medical Inc, Integer Holdings Corporation, and Magstim. are among the prominent players present in the neuromodulation market. The market players are focused on mergers and acquisitions to sustain their position in the market. For instance, in September 2020 Boston Scientific announced the Asia Pacifican launch of the WaveWriter Alpha portfolio of Spinal Cord Stimulator (SCS) Systems. The portfolio, consisting of four MRI conditional, Bluetooth-enabled implantable pulse generators (IPGs), offers expanded personalization based on patient needs, including rechargeable and non-rechargeable options, and access to waveforms that can cover multiple areas of pain.
Asia Pacific Neuromodulation Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Technology (External (Non-Invasive) Neuromodulation, and Internal Neuromodulation); Application (Chronic Pain Management, Failed Back Syndrome, Epilepsy, Tremor, Incontinence, Depression, Dystonia, Gastroparesis, Parkinson’s Disease, Obsessive-Compulsive Disorder, and Migraine); End User (Hospitals, Clinics, and Home Healthcare) |
Source: The Insight Partners Analysi |
The report segments the Asia Pacific neuromodulation market as follows:
- External (Non-Invasive) Neuromodulation
- Respiratory Electrical Stimulation
- Transcutaneous Electrical Nerve Stimulation
- Transcranial Magnetic Stimulation
- Internal Neuromodulation
- Deep Brain Stimulation
- Sacral Nerve Stimulation
- Gastric Electrical Stimulation
- Spinal Cord Stimulation
- Vagus Nerve Stimulation
- Chronic Pain Management
- Failed Back Syndrome
- Epilepsy
- Tremor
- Incontinence
- Depression
- Dystonia
- Gastroparesis
- Parkinson’s Disease
- Obsessive-Compulsive Disorder
- Migraine
- Japan
- China
- India
- South Korea
- Australia
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