Neuromodulation Devices Market Size, Growth, and Trends | 2030

Neuromodulation Devices Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Internal and External), Application [Deep Brain Stimulation (DBS), Sacral Nerve Stimulation (SNS), Gastric Electrical Stimulation (GES), Spinal Cord Stimulation (SCS), and Vagus Nerve Stimulation (VNS)], Biomaterial (Metallic, Polymeric, and Ceramic), and End User (Hospitals, Clinics, and Home Healthcare)

  • Report Code : TIPRE00018069
  • Category : Medical Device
  • Status : Data Released
  • No. of Pages : 150
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[Research Report] The neuromodulation devices market was valued at US$ 5.73 billion in 2022 and is expected to reach US$ 11.61 billion by 2030. The market is estimated to register a CAGR of 9.2% from 2022 to 2030.

Market Insights and Analyst View:

The report includes growth prospects along with the current neuromodulation devices market trends and their foreseeable impact during the forecast period.

Neuromodulation use is growing rapidly, with a wide range of implantable and noninvasive technology-based methods for the treatment of neuropsychiatric and neurological disorders. Therapies such as intracranial cortical stimulation (ICS), transcranial magnetic stimulation (TMS), deep brain stimulation (DBS), and transcranial direct current stimulation (tDCS) have shown promising results across a range of neuropsychiatric and neurological disorders. Neuromodulation devices are advanced medical instruments that can adjust the activity of the nervous system. The technology is used to treat movement disorders such as dystonia, Parkinson’s disease, tremors; tinnitus; obsessive-compulsive disorder; sensory disabilities; epilepsy; bladder control; headache; chronic pain; stroke; minimally conscious state; spasticity; and spinal cord injury. Factors such as the rising cases of spinal cord injury and increasing prevalence of neurological disorders contribute to the growing neuromodulation devices market size.

Market Drivers:

Geriatric population is susceptible to neurological diseases. Common neurological disorders affecting older people are neuropathy, Parkinson's disease, Alzheimer's disease, dystonia, and others. According to the United Nations Department of Economic and Social Affairs, in 2022, globally there were 771 million people aged 65 years and above. The older population is anticipated to reach 994 million by 2030 and 1,600 million by 2050. Countries such as the US and Canada have high prevalence rates of movement disorders and psychiatric disorders associated with growing geriatric populations. According to the Parkinson's Foundation, Parkinson's symptoms are common at an average age of 60.

The Canadian Psychological Association states that obsessive-compulsive disorder (OCD) affects about 2% of the population in Canada. The World Health Organization (WHO) states that epilepsy is a seizure-causing neurological disorder that affects ∼50 million people across the world. As per the American Academy of Neurology, stroke is the third leading cause of death in the US, followed by Alzheimer's as the sixth leading cause of death. Statistics from the same source show that nearly one million Americans are affected by Parkinson's, and at least 60,000 new cases are reported annually. The growing prevalence of neurological diseases coupled with lifestyle-related disorders such as depression and chronic pain leads to the increasing adoption of technologically advanced products.

Therefore, the rising geriatric population prone to neurological diseases, increasing prevalence of the diseases, and growing awareness regarding the tremendous burden of neurological disorders drive the neuromodulation devices market growth.

Neuroscience focuses on treating disorders such as stroke, headache disorders, multiple sclerosis, and other severe cases. In recent years, a relative shortage of the skilled neurological workforce has been witnessed even in developed countries. In the US, there are over 5,700 hospitals; however, these hospitals have less than 3,700 neurosurgeons. A prominent factor responsible for the inadequacy of the neurosurgical workforce is the inability to produce adequately trained neurosurgeons in a suitable amount of time. Neurology facilities with advanced technology are available in urban areas. However, limited treatments are offered in rural areas due to the shortage of expert professionals. Therefore, the shortage of skilled neurosurgeons hinders the neuromodulation devices market growth.

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Neuromodulation Devices Market: Strategic Insights

neuromodulation-devices-market
Market Size Value inUS$ 5.73 billion in 2022
Market Size Value byUS$ 11.61 billion by 2030
Growth rateCAGR of 9.2% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Report Segmentation and Scope:

The “neuromodulation devices market analysis” has been carried out by considering the segments—type, application, biomaterial, and end user.

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Segmental Analysis:

The neuromodulation devices market, by type, is bifurcated into external and internal. The internal neuromodulation segment held a larger neuromodulation devices market share in 2022. However, the external neuromodulation segment is likely to register a higher CAGR during 2022–2030. The term "internal neuromodulation" describes the use of medical devices that provide electrical, chemical, or other forms of stimulation for specific neuronal targets in order to modulate or alter the nervous system's activity. This technique is used to treat neurovascular illnesses, movement abnormalities, epilepsy, chronic pain, and fecal and urine incontinence.

Neuromodulation Devices Market, by Type – 2022 and 2030

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By end user, the neuromodulation devices market is segmented into hospitals, clinics, and home healthcare. In 2022, the hospitals segment dominated the neuromodulation devices market share. Due to the expansion of numerous hospitals and clinics and increased government spending to build healthcare infrastructure, the hospitals segment currently dominates the market. Additionally, the aging population is expected to result in a higher prevalence of chronic pain, propelling the demand for neuromodulation devices in hospitals.

Regional Analysis:

The scope of the neuromodulation devices market report is primarily segmented into North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

In terms of revenue, North America dominated the neuromodulation devices market share in 2022. The growing prevalence of neurological diseases, high spending on research and development, rising number of product approvals by the FDA, and technological advances boost the demand for neuromodulation devices in the region.

Competitive Landscape and Key Companies:

The neuromodulation devices market report is focused on prominent players in the market such as Abbott (St. Jude Medical, Inc), LivaNova PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA, Bioventus, EnteroMedics Inc, Nevro Corporation, NeuroPace Inc, Synapse Biomedical Inc, and Neurosigma Inc. The neuromodulation devices market forecast can help stakeholders plan their growth strategies. These companies focus on new technologies, upgrading existing products, and market expansions to meet the growing consumer demand across the world. As per company press releases, below are a few recent key developments:

  • In August 2023, Medtronic plc received CE Mark approval for its Inceptiv closed-loop rechargeable spinal cord stimulator (SCS). It is the first Medtronic SCS device to offer a closed-loop feature that senses each person's unique biological signals and adjusts stimulation moment to moment, as needed, to keep therapy in harmony with the motions of daily life.
  • In August 2023, Abbott received approval from the US Food and Drug Administration (FDA) for its new Proclaim Plus spinal cord stimulation (SCS) system featuring FlexBurst360 therapy. The next generation of Abbott's proprietary BurstDR stimulation, FlexBurst360 therapy offers pain coverage across six areas of the trunk and/or limbs. It facilitates programming that can be adjusted as per a person’s therapeutic needs.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Application, Biomaterial, and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What is neuromodulation device?

Neuromodulation use is growing rapidly, with a wide range of implantable and noninvasive technology-based methods for the treatment of neuropsychiatric and neurological disorders. Therapies such as intracranial cortical stimulation (ICS), transcranial magnetic stimulation (TMS), deep brain stimulation (DBS), and transcranial direct current stimulation (tDCS) have shown promising results across a range of neuropsychiatric and neurological disorders. Neuromodulation devices are advanced medical instruments that can adjust the activity of the nervous system. The technology is used to treat movement disorders such as dystonia, Parkinson’s disease, and tremor; tinnitus; obsessive compulsive disorder; sensory disabilities; epilepsy; bladder control; headache; chronic pain; stroke; minimally conscious state; spasticity; and spinal cord injury.

What are the driving factors for the neuromodulation device market across the globe?

The factors that are driving growth of the market are the rising cases of spinal cord injury and increasing prevalence of neurological disorders.

Who are the major players in the neuromodulation device market?

The neuromodulation device market majorly consists of the players such as Abbott (St. Jude Medical, Inc.), LivaNova PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA, Bioventus, EnteroMedics Inc, Nevro Corporation, NeuroPace Inc, Synapse Biomedical Inc, Neurosigma Inc among others.

Which country is dominating the neuromodulation device market?

US holds the largest market share in neuromodulation device market. the incidence of neurovascular diseases is rising significantly, and it is among the leading causes of death across the country. Rising incidence of neurological diseases such as Parkinson's disease (PD), increasing awareness about neurological disorders, and growing investments in developing transcranial stimulators are among the main factors driving the overall neuromodulation devices market growth in the US.

Which product segment is dominating the neuromodulation device market?

The neuromodulation device market, based on type, is bifurcated into external and internal. The internal neuromodulation segment held a larger neuromodulation devices market share in 2022. However, the external neuromodulation segment is likely to register a higher CAGR during 2022–2030.

Which application segment is dominating the neuromodulation device market?

The neuromodulation device market, based on application, is segmented into deep brain stimulation (DBS), sacral nerve stimulation (SNS), gastric electrical stimulation (GES), spinal cord stimulation (SCS), and vagus nerve stimulation (VNS). The spinal cord stimulation segment held the largest market share in 2022 and is expected to record the highest CAGR in the market during 2022–2030.

Which biomaterial segment is dominating the neuromodulation device market?

The neuromodulation device market, based on application, is segmented into metallic, polymeric, and ceramic. In 2022, the metallic segment dominated the market share. However, the polymeric segment is likely to register the highest CAGR during 2022–2030.

Which end user segment is dominating the neuromodulation device market?

The neuromodulation device market, based on end user, segmented into hospitals, clinics, and home healthcare. In 2022, the hospitals segment dominated the neuromodulation devices market share.

Which region is the fastest growing the neuromodulation device market?

Asia Pacific is expected to be the fastest growing region in the neuromodulation device market. The rising prevalence of neurological diseases and the development of neuromodulation devices are likely to enhance the market's growth in the coming years. China is among the most populated countries in the world, and the country has a maximum number of patients suffering from neurological disorders.

1. Introduction

1.1 Scope of the Study

1.2 Market Definition, Assumptions and Limitations

1.3 Market Segmentation

2. Executive Summary

2.1 Key Insights

2.2 Market Attractiveness Analysis

3. Research Methodology

4. Neuromodulation Devices Market Landscape

4.1 Overview

4.2 PEST Analysis

4.3 Ecosystem Analysis

4.3.1 List of Vendors in the Value Chain

5. Neuromodulation Devices Market - Key Market Dynamics

5.1 Key Market Drivers

5.2 Key Market Restraints

5.3 Key Market Opportunities

5.4 Future Trends

5.5 Impact Analysis of Drivers and Restraints

6. Neuromodulation Devices Market - Global Market Analysis

6.1 Neuromodulation Devices - Global Market Overview

6.2 Neuromodulation Devices - Global Market and Forecast to 2030

7. Neuromodulation Devices Market – Revenue Analysis (USD Million) – By Type, 2020-2030

7.1 Overview

7.2 Internal

7.3 External

8. Neuromodulation Devices Market – Revenue Analysis (USD Million) – By Application, 2020-2030

8.1 Overview

8.2 Deep Brain Stimulation (DBS)

8.3 Gastric Electrical Stimulation (GES)

8.4 Spinal Cord Stimulation (SCS)

8.5 Vagus Nerve Stimulation (VNS)

8.6 Sacral Nerve Stimulation (SNS)

9. Neuromodulation Devices Market – Revenue Analysis (USD Million) – By Biomaterial, 2020-2030

9.1 Overview

9.2 Metallic

9.3 Polymeric

9.4 Ceramic

10. Neuromodulation Devices Market – Revenue Analysis (USD Million) – By End User, 2020-2030

10.1 Overview

10.2 Hospitals

10.3 Clinics

10.4 Home Healthcare

11. Neuromodulation Devices Market - Revenue Analysis (USD Million), 2020-2030 – Geographical Analysis

11.1 North America

11.1.1 North America Neuromodulation Devices Market Overview

11.1.2 North America Neuromodulation Devices Market Revenue and Forecasts to 2030

11.1.3 North America Neuromodulation Devices Market Revenue and Forecasts and Analysis - By Type

11.1.4 North America Neuromodulation Devices Market Revenue and Forecasts and Analysis - By Application

11.1.5 North America Neuromodulation Devices Market Revenue and Forecasts and Analysis - By Biomaterial

11.1.6 North America Neuromodulation Devices Market Revenue and Forecasts and Analysis - By End User

11.1.7 North America Neuromodulation Devices Market Revenue and Forecasts and Analysis - By Countries

11.1.7.1 United States Neuromodulation Devices Market

11.1.7.1.1 United States Neuromodulation Devices Market, by Type

11.1.7.1.2 United States Neuromodulation Devices Market, by Application

11.1.7.1.3 United States Neuromodulation Devices Market, by Biomaterial

11.1.7.1.4 United States Neuromodulation Devices Market, by End User

11.1.7.2 Canada Neuromodulation Devices Market

11.1.7.2.1 Canada Neuromodulation Devices Market, by Type

11.1.7.2.2 Canada Neuromodulation Devices Market, by Application

11.1.7.2.3 Canada Neuromodulation Devices Market, by Biomaterial

11.1.7.2.4 Canada Neuromodulation Devices Market, by End User

11.1.7.3 Mexico Neuromodulation Devices Market

11.1.7.3.1 Mexico Neuromodulation Devices Market, by Type

11.1.7.3.2 Mexico Neuromodulation Devices Market, by Application

11.1.7.3.3 Mexico Neuromodulation Devices Market, by Biomaterial

11.1.7.3.4 Mexico Neuromodulation Devices Market, by End User

Note - Similar analysis would be provided for below mentioned regions/countries

11.2 Europe

11.2.1 Germany

11.2.2 France

11.2.3 Italy

11.2.4 Spain

11.2.5 United Kingdom

11.2.6 Rest of Europe

11.3 Asia-Pacific

11.3.1 Australia

11.3.2 China

11.3.3 India

11.3.4 Japan

11.3.5 South Korea

11.3.6 Rest of Asia-Pacific

11.4 Middle East and Africa

11.4.1 South Africa

11.4.2 Saudi Arabia

11.4.3 U.A.E

11.4.4 Rest of Middle East and Africa

11.5 South and Central America

11.5.1 Brazil

11.5.2 Argentina

11.5.3 Rest of South and Central America

12. Industry Landscape

12.1 Mergers and Acquisitions

12.2 Agreements, Collaborations, Joint Ventures

12.3 New Product Launches

12.4 Expansions and Other Strategic Developments

13. Competitive Landscape

13.1 Heat Map Analysis by Key Players

13.2 Company Positioning and Concentration

14. Neuromodulation Devices Market - Key Company Profiles

14.1 Boston Scientific Corporation

14.1.1 Key Facts

14.1.2 Business Description

14.1.3 Products and Services

14.1.4 Financial Overview

14.1.5 SWOT Analysis

14.1.6 Key Developments

Note - Similar information would be provided for below list of companies

14.2 Abbott

14.3 LivaNova PLC

14.4 Nevro Corp

14.5 NeuroPace, Inc.

14.6 NeuroSigma, Inc.

14.7 Synapse Biomedical Inc.

14.8 Aleva Neurotherapetics SA

14.9 Bioventus

14.10 EnteroMedics Inc

15. Appendix

15.1 Glossary

15.2 About The Insight Partners

15.3 Market Intelligence Cloud

The List of Companies - Neuromodulation Devices Market

  1. Abbott (St. Jude Medical, Inc.)
  2. LivaNova PLC
  3. Boston Scientific Corporation
  4. Aleva Neurotherapeutics SA
  5. Bioventus
  6. EnteroMedics Inc.
  7. Nevro Corporation
  8. NeuroPace Inc.
  9. Synapse Biomedical, Inc.
  10. Neurosigma, Inc

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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