Neuromodulation Market to Grow with a CAGR of 5.25% through 2029

Rising prevalence of chronic diseases and expanding applications in psychiatry and mental healthcare factors driving the Global Neuromodulation Market in the forecast period 2025-2029.

According to TechSci Research report, “Neuromodulation Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Neuromodulation Market stood at USD 6.11 Billion in 2023 and is anticipated to grow with a CAGR of 5.25% through 2029. In recent years, the field of neuromodulation, an advanced domain within medical science, has experienced remarkable growth. It involves modifying or regulating nerve activity by precisely delivering electrical or chemical stimuli to specific neurological sites in the body. This technology has transformed the treatment landscape for various chronic neurological ailments, offering a promising alternative for patients unresponsive to conventional therapies. The global neuromodulation market is propelled by several pivotal factors, each contributing to its widespread adoption and expansion worldwide.

The ascent of minimally invasive surgical techniques is evident across diverse medical specialties, owing to their manifold benefits such as shorter recovery periods, reduced risk of complications, and enhanced patient outcomes. Neuromodulation procedures typically entail minimally invasive implantation of electrodes or stimulation devices, rendering them appealing to both patients and physicians. Consequently, there has been a consistent uptick in the acceptance of neuromodulation therapies as the preferred treatment modality for chronic conditions.

Neuromodulation methodologies like transcranial magnetic stimulation (TMS) and deep brain stimulation (DBS) have exhibited promising outcomes in managing psychiatric disorders such as depression, obsessive-compulsive disorder (OCD), and addiction. As awareness regarding the efficacy of neuromodulation in addressing mental health issues burgeons, the demand for these therapies escalates. The incorporation of neuromodulation into psychiatric practice presents a substantial market opportunity, fueling investments in research and development in this domain.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Neuromodulation Market”

The Global Neuromodulation Market is segmented into type, application, region and company.

Based on type, the external neuromodulation segment is the fastest growing segment in the Global Neuromodulation Market. External neuromodulation techniques are typically non-invasive or minimally invasive compared to surgical procedures required for other forms of neuromodulation (like deep brain stimulation or spinal cord stimulation). This non-invasiveness makes external neuromodulation more appealing to both patients and healthcare providers. Recent advancements in technology have led to more sophisticated and effective external neuromodulation devices. These devices can deliver targeted stimulation to specific nerves or areas of the body without the need for surgery, making them more accessible and attractive for a wider range of medical conditions. External neuromodulation devices are often designed to be user-friendly and can be used at home or in outpatient settings. This convenience and accessibility contribute to their growing popularity, especially for chronic conditions that require ongoing management. The applications of external neuromodulation are expanding beyond traditional pain management to include treatment for various neurological disorders, psychiatric conditions, and even non-medical uses such as in sports and wellness.

Based on region, the Asia Pacific region is expected toby the fastest growing region in the Global Neuromodulation Market. As economies in the Asia Pacific region continue to develop, there is a notable increase in healthcare expenditure. This rise in spending is particularly evident in countries like China, India, Japan, and South Korea. With more investment in healthcare infrastructure and services, there's a greater focus on advanced medical technologies like neuromodulation. Many countries in the Asia Pacific region are experiencing a demographic shift characterized by an aging population. Neuromodulation therapies are often used to manage chronic pain, movement disorders, and other conditions that become more prevalent with age. As the population ages, the demand for such therapies increases. Chronic diseases such as neurological disorders, chronic pain syndromes, and movement disorders are becoming more prevalent in the Asia Pacific region due to lifestyle changes, urbanization, and aging. Neuromodulation offers effective treatment options for many of these conditions, driving market growth. There's a growing awareness and acceptance of neuromodulation therapies among healthcare professionals and patients in the Asia Pacific region. This increased awareness, along with advancements in medical education and training, is contributing to the adoption of neuromodulation techniques. The neuromodulation market is witnessing continuous technological advancements, making therapies more effective, safer, and accessible. Companies are expanding their market presence in the Asia Pacific region, introducing innovative products and expanding distribution networks.

Major companies operating in Global Neuromodulation Market are:

·         Medtronic PLC

·         NanoGen Healthcare Pvt. Ltd.

·         Boston Scientific Corporation

·         Abbott Laboratories Ltd.

·         Livanova plc

·         Nevro Corporation

·         Neurosigma PLC.

·         Neuropace, INC.

·         Soterix Medical Inc.

·         Aleva Neurotherapeutics SA

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“The global neuromodulation market is poised for continued growth, driven by factors such as the rising prevalence of chronic diseases, technological advancements, increasing acceptance of minimally invasive procedures, expanding applications in psychiatry and mental health, and supportive reimbursement policies. As the field continues to evolve, innovative therapies and delivery techniques are expected to further enhance patient outcomes and expand the reach of neuromodulation across diverse therapeutic areas. Continued investment in research and development, coupled with collaborations between industry stakeholders and healthcare providers, will be essential in unlocking the full potential of neuromodulation in improving patient lives worldwide”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Neuromodulation Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Internal Neuromodulation (Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, Gastric Electrical Stimulation), External Neuromodulation(Transcutaneous Electrical Nerve Stimulation (TENS), Transcranial Magnetic Stimulation (TMS), Respiratory Electrical Stimulation (RES)), By Application (Spinal Cord Stimulation, Deep Brain Stimulation, Sacral Nerve Stimulation, Vagus Nerve Stimulation, Gastric Electrical Stimulation, Transcutaneous Electrical Nerve Stimulation, Transcranial Magnetic Stimulation, Respiratory Electrical Stimulation), By Region and Competition 2019-2029F”, has evaluated the future growth potential of Global Neuromodulation Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Neuromodulation Market.

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