PUBLISHER: The Business Research Company | PRODUCT CODE: 1668455
PUBLISHER: The Business Research Company | PRODUCT CODE: 1668455
Neuromodulation refers to the adjustment of nerve activity through electrical or pharmacological means, directly targeting specific areas. It's a reversible method employed to alleviate pain.
The primary technologies in neuromodulation include internal and external methods. Internal neuromodulation involves implanting an electrode near a targeted nerve and administering a low-voltage electric current. Biomaterials used encompass polymeric, metallic, and ceramic materials. These technologies are applied in treating various conditions such as chronic pain, urinary and fecal incontinence, migraine, failed back syndrome, Parkinson's disease, epilepsy, tremor, depression, and more. They find use across multiple settings including hospitals, clinics, and home healthcare environments.
The neuromodulation market research report is one of a series of new reports from The Business Research Company that provides neuromodulation market statistics, including the neuromodulation industry's global market size, regional shares, competitors with a neuromodulation market share, detailed neuromodulation market segments, market trends, and opportunities, and any further data you may need to thrive in the neuromodulation industry. This neuromodulation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The neuromodulation market size has grown rapidly in recent years. It will grow from$6.96 billion in 2024 to $7.68 billion in 2025 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to rising prevalence of chronic disorders, clinical evidence and research, patient demand for non-invasive therapies, government initiatives and funding, expansion of indications, collaborations and partnerships
The neuromodulation market size is expected to see rapid growth in the next few years. It will grow to $11.79 billion in 2029 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to miniaturization of devices, focus on neurological disorders in aging population, expanded applications in psychiatry, patient-centric approaches, global expansion of healthcare access. Major trends in the forecast period include integration of artificial intelligence (ai), advancements in technology, non-invasive neuromodulation techniques, closed-loop neuromodulation systems, expansion of indications, wireless and wearable neuromodulation devices.
The increasing prevalence of neurological disorders stands as a significant driver for the growth of the neuromodulation market. These disorders encompass a wide range of issues affecting the brain, nerves, and spinal cord. Neuromodulation interventions offer promising avenues for managing and regulating various neurological conditions, including Alzheimer's, Parkinson's, and epilepsy. Reports from the European Brain Council in April 2022 highlighted over 600 neurological diseases and nearly 300 psychiatric conditions globally, with 50 million individuals affected by Alzheimer's and other dementias. Epilepsy, affecting 65 million people worldwide, underscores the substantial impact of neurological disorders. Projections indicate a substantial rise in dementia cases in Europe, from 10.5 million to 18.7 million by 2050, signifying the pivotal role of neuromodulation in addressing these escalating health concerns.
Increasing healthcare expenditures are projected to drive the growth of the neuromodulation market in the coming years. Healthcare expenditure encompasses the total funds allocated for health care and related activities, including health services provision, public and private health insurance, health research, and public health initiatives. Rising expenditures support the development and adoption of new therapies and diagnostic methods for neurological disorders, and they also provide additional funding for research into innovative neuromodulation technologies, enhancing their efficacy, safety, and targeting capabilities. For example, in November 2022, the Canadian Institute for Health Information, a not-for-profit organization based in the U.S., reported that healthcare expenditure increased by 0.8% to reach $331 billion in 2022, compared to 7.6% in 2021. Thus, the rising healthcare expenditure is fueling the growth of the neuromodulation market.
Technological advancements are a significant trend gaining traction in the neuromodulation market. Leading companies in this sector are concentrating on developing innovative technological solutions to enhance their market position. For instance, in January 2024, GrayMatters Health, an Israel-based firm focused on digital self-neuromodulation therapies, introduced a new FDA-cleared self-neuromodulation therapy for PTSD called Prism. This cutting-edge device integrates an EEG cap with software to assist patients in learning to manage their emotional responses through neurofeedback. The technology aims to complement traditional psychotherapy and pharmacotherapy by equipping patients with tools to actively manage their symptoms. Additionally, in December 2022, Abbott Laboratories, a U.S.-based medical devices and healthcare company, unveiled the Eterna spinal cord stimulation (SCS) system, which is the smallest implantable, rechargeable spinal cord stimulator available. Eterna SCS utilizes Abbott's patented low-dose BurstDR stimulation, the only SCS waveform innovation backed by the highest level of clinical evidence (1A evidence), demonstrating a 23% greater pain relief compared to conventional waveform technology.
Major players in the neuromodulation market are focusing on introducing next-generation devices with advanced features, such as the implantable pulse generator (IPG), to gain a competitive edge. For example, CVRx's November 2022 launch of the Barostim Neo2 IPG, an upgraded version of its neuromodulation device for heart failure treatment, exemplifies this pursuit. With improved efficiency, reduced size, and enhanced design facilitating easier implantation, the Barostim Neo2 retains the clinically proven Barostim therapy, emphasizing the drive towards patient-friendly, durable, and efficient solutions in neuromodulation.
In March 2022, Electromedical Products International Inc (EPI), a prominent US-based medical device manufacturer, completed the acquisition of Pulvinar Neuro LLC for an undisclosed sum. This strategic acquisition empowers EPI to further its progress in advancing patented technologies, notably transcranial alternating current stimulation (tACS), enhancing personalized feedback stimulation, and expanding its cloud-enabled digital therapeutics for psychiatric and neurological conditions. Pulvinar Neuro, a US-based neurotechnology company, specializes in leveraging cutting-edge technologies to support neuroscience research, aligning seamlessly with EPI's objectives in advancing medical innovation in this domain.
Major companies operating in the neuromodulation market include Abbott Laboratories, Soterix Medical Inc., Boston Scientific Corporation, Medtronic plc, Synapse Biomedical Inc., Nevro Corp, Neuropace Inc., LivaNova PLC, Neurosigma Inc., Neuronetics Inc., Bioness Inc., Aleva Neurotherapeutics S.A., Integer Holdings Corporation, ReShape Lifesciences Inc., Inspire Medical Systems Inc., Bioventus LLC, Saluda Medical Pty Ltd, Otolith Labs Inc., Machine Medicine Inc., Inbrain Neuroelectronics SAS, Pixium Vision SA, Neuromod Devices Limited, Cognito Therapeutics Inc., PathMaker Neurosystems Inc., Dignify Therapeutics Inc., Neuronoff ApS, Neuros Medical Inc., Fisher & Paykel Healthcare Corporation Limited, Koninklijke Philips N.V., Magic Leap Inc., Omron Corporation
North America was the largest region in the neuromodulation market in 2024. The regions covered in the neuromodulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the neuromodulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The neuromodulation market includes revenues earned by entities through sacral nerve stimulation for pelvic disorders and incontinence, deep brain stimulation (DBS) treatment for Parkinson's disease, and spinal cord stimulation for ischemic disorders (angina, peripheral vascular disease). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Neuromodulation Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on neuromodulation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for neuromodulation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The neuromodulation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.