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

  • Industry : Healthcare
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  • Published Date : NA
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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 6.11 Billion

CAGR (2024-2029)

5.25%

Fastest Growing Segment

Transcutaneous Electrical Nerve Stimulation

Largest Market

North America

Market Size (2029)

USD 8.32  Billion

 

Market Overview

Global Neuromodulation Market was valued at USD 6.11 Billion in 2023 and is anticipated to project steady growth in the forecast period with a CAGR of 5.25% through 2029. Neuromodulation, a field at the intersection of neuroscience and technology, has been rapidly expanding in recent years. It involves the use of targeted electrical or chemical stimulation to modulate the nervous system's activity, offering therapeutic solutions for a range of neurological and psychiatric disorders. The global neuromodulation market has witnessed remarkable growth, driven by advancements in technology, increasing prevalence of neurological disorders, and growing acceptance of these therapies among patients and healthcare professionals.

Innovations in neuromodulation technologies, including implantable devices, non-invasive stimulation techniques, and advanced programming algorithms, have significantly improved treatment outcomes and patient comfort. The growing incidence of neurological conditions such as chronic pain, epilepsy, Parkinson's disease, and depression has fueled the demand for neuromodulation therapies. Additionally, an aging population and lifestyle factors contribute to the increasing burden of neurological disorders worldwide. Neuromodulation techniques are being explored for an expanding array of indications, including obesity management, addiction treatment, sleep disorders, and cognitive enhancement, broadening the market's scope and potential.

Key Market Drivers

Rising Prevalence of Chronic Diseases is Driving the Global Neuromodulation Market

Chronic diseases continue to be a significant health burden globally, affecting millions of lives and straining healthcare systems. Conditions such as chronic pain, neurological disorders, and psychiatric illnesses are among the most prevalent. However, advancements in medical technology offer promising solutions. Neuromodulation, a therapeutic approach that involves the alteration of nerve activity through targeted delivery of electrical or pharmaceutical agents, has emerged as a viable treatment option. The rising prevalence of chronic diseases has fueled the growth of the global neuromodulation market, driving innovation and expanding therapeutic possibilities.

Chronic diseases, characterized by their prolonged duration and often slow progression, are a leading cause of morbidity and mortality worldwide. Conditions such as chronic pain, Parkinson's disease, epilepsy, depression, and obsessive-compulsive disorder (OCD) significantly impact patients' quality of life and impose substantial economic costs on society. According to the World Health Organization (WHO), chronic diseases are responsible for approximately 60% of all deaths globally, highlighting the urgent need for effective interventions.

Neuromodulation offers a unique approach to managing chronic conditions by directly targeting the nervous system. This therapeutic strategy involves the use of devices or implants to modulate neural activity, either by delivering electrical stimulation or administering pharmaceutical agents. By precisely targeting specific neural circuits, neuromodulation can alleviate symptoms, reduce medication reliance, and improve overall patient outcomes.

Expanding Applications in Psychiatry and Mental Health is Driving the Global Neuromodulation Market

Traditionally, neuromodulation therapies such as spinal cord stimulation (SCS) and deep brain stimulation (DBS) have been primarily utilized for managing chronic pain conditions like neuropathy and failed back surgery syndrome. However, advancements in technology and a deeper understanding of the brain's intricate workings have paved the way for novel applications in psychiatry and mental health.

One of the most promising areas of neuromodulation in psychiatry is the treatment of major depressive disorder (MDD). MDD affects millions worldwide and can be challenging to treat, particularly in cases where standard therapies such as medication and psychotherapy have been ineffective. Neuromodulation techniques such as transcranial magnetic stimulation (TMS) and transcranial direct current stimulation (tDCS) have shown promising results in alleviating depressive symptoms by modulating neural circuits implicated in mood regulation. Similarly, neuromodulation has shown potential in treating other psychiatric disorders such as obsessive-compulsive disorder (OCD), anxiety disorders, post-traumatic stress disorder (PTSD), and substance use disorders. DBS, in particular, has emerged as a groundbreaking therapy for severe and treatment-resistant cases of OCD, offering hope to patients who have not responded to conventional treatments.

The expansion of neuromodulation into psychiatry and mental health is largely driven by ongoing research efforts and technological advancements. Researchers are continually exploring new targets within the brain and refining stimulation parameters to optimize therapeutic outcomes while minimizing side effects. Moreover, the development of non-invasive neuromodulation techniques holds promise for increasing accessibility and reducing the burden associated with invasive procedures. Furthermore, the integration of neuromodulation with other therapeutic modalities such as cognitive-behavioral therapy (CBT) and pharmacotherapy is opening up new avenues for personalized treatment approaches. By combining neuromodulation with complementary interventions, clinicians can potentially enhance treatment efficacy and improve long-term outcomes for patients with psychiatric disorders.


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Key Market Challenges

Regulatory Frameworks and Approval Processes

One of the primary challenges facing the global neuromodulation market is the complex regulatory landscape governing medical devices. Obtaining regulatory approval for neuromodulation devices often involves rigorous clinical trials and extensive documentation to demonstrate safety and efficacy. Delays in regulatory approval can significantly impact market entry timelines and increase costs for manufacturers. Moreover, varying regulatory requirements across different regions add another layer of complexity, necessitating a thorough understanding of each market's specific regulatory framework.

Technological Innovation and R&D Costs

Another challenge is the continuous need for technological innovation and research and development (R&D) investment. Developing cutting-edge neuromodulation devices requires significant financial resources and expertise in areas such as bioelectronics, materials science, and data analytics. As technology evolves, manufacturers must stay ahead of the curve to remain competitive in the market. However, the high costs associated with R&D can pose a barrier to entry for smaller companies and startups, limiting innovation and competition within the industry.

Key Market Trends 

Technological Advancements

One of the significant drivers of the neuromodulation market is the development of smaller, more efficient implantable devices. Advancements in microelectronics and materials science have led to the creation of compact and durable devices capable of precise neuromodulation. These miniature implants offer greater patient comfort, reduced risk of complications, and improved long-term outcomes. The integration of advanced neuroimaging techniques such as functional magnetic resonance imaging (fMRI) and positron emission tomography (PET) with neuromodulation technologies has revolutionized treatment strategies. These imaging modalities enable clinicians to visualize brain activity in real-time, providing valuable insights for optimizing neuromodulation therapies and ensuring targeted intervention.

Traditional neuromodulation devices operate in an open-loop manner, delivering predetermined stimulation patterns irrespective of the patient's physiological state. The emergence of closed-loop or adaptive systems represents a paradigm shift in neuromodulation therapy. By incorporating real-time feedback mechanisms, these systems can dynamically adjust stimulation parameters based on the patient's changing needs, resulting in personalized and more effective treatment outcomes. In addition to implantable devices, there is growing interest in non-invasive neuromodulation techniques such as transcranial magnetic stimulation (TMS) and transcranial direct current stimulation (tDCS). These modalities offer the advantage of being non-surgical and relatively safe, expanding the scope of neuromodulation to a broader patient population and facilitating outpatient-based treatments.

Segmental Insights

Type Insights

Based on the category of type, Internal Neuromodulation emerged as the dominant segment in the global market for Neuromodulation in 2023. Internal neuromodulation involves the use of implanted devices to deliver electrical stimulation or drugs directly to targeted areas within the nervous system. These devices, typically small and implantable, modulate the activity of specific neural circuits to alleviate symptoms associated with neurological conditions such as chronic pain, movement disorders, epilepsy, and psychiatric disorders.

Application Insights

The Transcutaneous Electrical Nerve Stimulation segment is projected to experience rapid growth during the forecast period. Transcutaneous Electrical Nerve Stimulation (TENS) has emerged as a dominant force within the global neuromodulation market. Offering a non-invasive, drug-free approach to pain management, TENS has garnered widespread acceptance and is poised for continued growth. One of the primary appeals of TENS therapy is its non-invasive nature. Unlike surgical procedures or pharmacological interventions, TENS does not require incisions or the ingestion of medications, making it a safer and more accessible option for a wide range of patients.

Numerous clinical studies have demonstrated the efficacy of TENS in managing acute and chronic pain conditions, including musculoskeletal disorders, neuropathic pain, and post-operative pain. As healthcare providers seek alternatives to opioid medications amid the opioid crisis, TENS has emerged as a compelling option for pain management. Compared to pharmaceutical interventions, TENS therapy is associated with minimal side effects. Patients may experience mild tingling sensations or skin irritation at the site of electrode placement, but these effects are typically transient and well-tolerated.


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Regional Insights

North America emerged as the dominant region in the global Neuromodulation market in 2023, holding the largest market share in terms of value. North America boasts some of the most advanced healthcare systems in the world. The presence of renowned hospitals, research institutions, and healthcare facilities equipped with state-of-the-art medical technologies facilitates the adoption and advancement of neuromodulation techniques. Patients in the region have access to a wide range of treatment options, driving demand for neuromodulation therapies. The region is a hub for technological innovation in healthcare. Companies based in North America are at the forefront of developing cutting-edge neuromodulation devices and techniques. From implantable neurostimulators to non-invasive neuromodulation devices, the market is witnessing continuous innovation aimed at improving treatment outcomes and patient experience.

Recent Developments

  • In January 2024, the Japanese Ministry of Health, Labor and Welfare (MHLW) granted approval for the at-home use of Neurolief's neuromodulation device, Relivion, for the acute treatment of migraines. Relivion employs non-invasive multi-channel brain neuromodulation technology, targeting the occipital and trigeminal nerve branches, crucial in causing severe migraine headaches. The device is accompanied by a mobile app and a physician interface that incorporate AI integration and remote monitoring features. Sawai Pharmaceutical holds exclusive rights for the development and commercialization of Relivion for migraine and depression indications in Japan.

Key Market Players

  • 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

By Type

By Application

By Region
  • Internal Neuromodulation
  • External Neuromodulation
  • 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
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Neuromodulation Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Neuromodulation Market, By Drug Type:

o   Internal Neuromodulation

o   External Neuromodulation

  • Neuromodulation Market, By Application:

o   Spinal Cord Stimulation

o   Deep Brain Stimulation

o   Sacral Nerve Stimulation

o   Vagus Nerve Stimulation

o   Gastric Electrical Stimulation

o   Transcutaneous Electrical Nerve Stimulation

o   Transcranial Magnetic Stimulation

o   Respiratory Electrical Stimulation

  • Neuromodulation Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Neuromodulation Market.

Available Customizations:

Global Neuromodulation market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Neuromodulation Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Global Neuromodulation  Market Outlook

4.1.  Market Size & Forecast

4.1.1.     By Value

4.2.  Market Share & Forecast

4.2.1.     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))

4.2.2.     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)

4.2.3.     By Region

4.2.4.     By Company (2023)

4.3.  Market Map

4.3.1.     By Type

4.3.2.     By Application

4.3.3.     By Region

5.    Asia Pacific Neuromodulation  Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Type

5.2.2.     By Application

5.2.3.     By Country

5.3.  Asia Pacific: Country Analysis

5.3.1.     China Neuromodulation  Market Outlook

5.3.1.1.         Market Size & Forecast

5.3.1.1.1.             By Value

5.3.1.2.         Market Share & Forecast

5.3.1.2.1.             By Type

5.3.1.2.2.             By Application

5.3.2.     India Neuromodulation  Market Outlook

5.3.2.1.         Market Size & Forecast

5.3.2.1.1.             By Value

5.3.2.2.         Market Share & Forecast

5.3.2.2.1.             By Type

5.3.2.2.2.             By Application

5.3.3.     Australia Neuromodulation  Market Outlook

5.3.3.1.         Market Size & Forecast

5.3.3.1.1.             By Value

5.3.3.2.         Market Share & Forecast

5.3.3.2.1.             By Type

5.3.3.2.2.             By Application

5.3.4.     Japan Neuromodulation  Market Outlook

5.3.4.1.         Market Size & Forecast

5.3.4.1.1.             By Value

5.3.4.2.         Market Share & Forecast

5.3.4.2.1.             By Type

5.3.4.2.2.             By Application

5.3.5.     South Korea Neuromodulation  Market Outlook

5.3.5.1.         Market Size & Forecast

5.3.5.1.1.             By Value

5.3.5.2.         Market Share & Forecast

5.3.5.2.1.             By Type

5.3.5.2.2.             By Application

6.    Europe Neuromodulation  Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type

6.2.2.     By Application

6.2.3.     By Country

6.3.  Europe: Country Analysis

6.3.1.     France Neuromodulation  Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Type

6.3.1.2.2.             By Application

6.3.2.     Germany Neuromodulation  Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Type

6.3.2.2.2.             By Application

6.3.3.     Spain Neuromodulation  Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Type

6.3.3.2.2.             By Application

6.3.4.     Italy Neuromodulation  Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Type

6.3.4.2.2.             By Application

6.3.5.     United Kingdom Neuromodulation  Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Type

6.3.5.2.2.             By Application

7.    North America Neuromodulation  Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type

7.2.2.     By Application

7.2.3.     By Country

7.3.  North America: Country Analysis

7.3.1.     United States Neuromodulation  Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By Application

7.3.2.     Mexico Neuromodulation  Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By Application

7.3.3.     Canada Neuromodulation  Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By Application

8.    South America Neuromodulation  Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type

8.2.2.     By Application

8.2.3.     By Country

8.3.  South America: Country Analysis

8.3.1.     Brazil Neuromodulation  Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Type

8.3.1.2.2.             By Application

8.3.2.     Argentina Neuromodulation  Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Type

8.3.2.2.2.             By Application

8.3.3.     Colombia Neuromodulation  Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Type

8.3.3.2.2.             By Application

9.    Middle East and Africa Neuromodulation  Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type

9.2.2.     By Application

9.2.3.     By Country

9.3.  MEA: Country Analysis

9.3.1.     South Africa Neuromodulation  Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Type

9.3.1.2.2.             By Application

9.3.2.     Saudi Arabia Neuromodulation  Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Type

9.3.2.2.2.             By Application

9.3.3.     UAE Neuromodulation  Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Type

9.3.3.2.2.             By Application

10.  Market Dynamics

10.1.    Drivers

10.2.    Challenges

11.  Market Trends & Developments

11.1.    Recent Developments

11.2.    Product Launches

11.3.    Mergers & Acquisitions

12.  Global Neuromodulation  Market: SWOT Analysis

13.  Porter’s Five Forces Analysis

13.1.    Competition in the Industry

13.2.    Potential of New Entrants

13.3.    Power of Suppliers

13.4.    Power of Customers

13.5.    Threat of Substitute Product 

14.  Competitive Landscape

14.1.    Medtronic PLC

14.1.1.           Business Overview

14.1.2.           Company Snapshot

14.1.3.           Product & Services

14.1.4.           Financials (In case of listed)

14.1.5.           Recent Developments

14.1.6.           Key Personnel Details

14.1.7.           SWOT Analysis

14.2.    NanoGen Healthcare Pvt. Ltd.

14.3.    Boston Scientific Corporation

14.4.    Abbott Laboratories Ltd.

14.5.    Livanova plc

14.6.    Nevro Corporation

14.7.    Neurosigma PLC.

14.8.    Neuropace, INC.

14.9.    Soterix Medical Inc.

14.10.  Aleva Neurotherapeutics SA

15.  Strategic Recommendations

16.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Neuromodulation Market was estimated to be USD 6.11 Billion in 2023.

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Regulatory Frameworks and Approval Processes, Technological Innovation and R&D Costs are the challenges faced by the Global Neuromodulation Market.

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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 were the top players operating in the Global Neuromodulation Market in 2023.

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Rising prevalence of chronic diseases and expanding applications in psychiatry and mental healthcare are the major drivers for the Global Neuromodulation Market.

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Sakshi Bajaal

Business Consultant
Press Release

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

Apr, 2024

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.

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