Overview and Scope
Internal neuromodulation devices refer to a type of medical devices that are implanted inside the body to provide electrical stimulation to specific areas of the nervous system. These devices are used to treat various neurological and psychiatric conditions and can significantly relieve patients.
Sizing and Forecast
The internal neuromodulation devices market size has grown strongly in recent years. It will grow from $2.47 billion in 2023 to $2.66 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to chronic pain management, aging population, clinical research and trials, neurological disorders prevalence, patient awareness and acceptance.
The internal neuromodulation devices market size is expected to see strong growth in the next few years. It will grow to $3.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to personalized medicine trends, rising healthcare expenditure, collaborations and partnerships, patient outcomes and real-world evidence, regulatory landscape changes. Major trends in the forecast period include miniaturization and implantable technology, wireless connectivity and remote monitoring, expanded applications for neuromodulation, closed-loop systems for precise modulation, focus on patient-centric design.
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Segmentation & Regional Insights
The internal neuromodulation devices market covered in this report is segmented –
1) By Type: Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Gastric Neuro Stimulator
2) By Technology Type: Internal Neuromodulation, External Neuromodulation
3) By Biomaterial: Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials
4) By Application: Failed Back Surgery Syndrome, Parkinson’s Disease, Urinary Incontinence, Epilepsy, Gastroparesis
5) By End-User: Hospitals, Clinics, Home Healthcare, Community Healthcare
North America was the largest region in the internal neuromodulation devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global internal neuromodulation devices market report during the forecast period. The regions covered in the internal neuromodulation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing incidence of neurologic diseases is expected to boost the growth of the internal neuromodulation devices market going forward. Neurologic diseases are a broad category of disorders that affect the nervous system, including the brain, spinal cord, and nerves throughout the body. Internal neuromodulation devices are medical devices used to treat neurological and psychiatric disorders by delivering electrical stimulation to specific areas of the nervous system, which can relieve symptoms such as chronic pain, movement disorders, and mood disorders. They can improve patient quality of life by reducing symptoms and allowing them to perform daily activities more easily. For instance, in 2021, according to the Centers for Disease Control and Prevention, a US-based government agency, Alzheimer’s disease affected an estimated 6.2 million Americans aged 65 and older. This number is expected to nearly triple to 14 million by 2060. Moreover, the number of people living with the disease doubles every five years after the age of 65. Therefore, the increasing incidence of neurologic diseases is driving the growth of the internal neuromodulation devices market.
Key Industry Players
Major companies operating in the internal neuromodulation devices market report are Medtronic plc, Boston Scientific Corporation, Cyberonics Inc., BioControl Medical Ltd., Aleva Neurotherapeutics SA, Bioness Inc., Uroplasty Inc., Abbott Laboratories, St. Jude Medical Inc., EnteroMedics Inc., Micron Medical Corporation, LivaNova plc, NeuroPace Inc., Synapse Biomedical Inc., Soterix Medical Inc., Accellent Inc., Neuros Medical Inc., Nevro Corp., Nuvectra Corporation, Stimwave Technologies Incorporated, SPR Therapeutics, Axonics Modulation Technologies Inc., Saluda Medical Pty Limited, MicroTransponder Inc., EndoStim Inc., NeuroMetrix Inc., Second Sight Medical Products Inc., Neurotech International Limited, Neuronix Ltd., Neuronoff Inc.
The internal neuromodulation devices market report table of contents includes:
1. Executive Summary
2. Internal Neuromodulation Devices Market Characteristics
3. Internal Neuromodulation Devices Market Trends And Strategies
4. Internal Neuromodulation Devices Market – Macro Economic Scenario
5. Global Internal Neuromodulation Devices Market Size and Growth
….
31. Global Internal Neuromodulation Devices Market Competitive Benchmarking
32. Global Internal Neuromodulation Devices Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Internal Neuromodulation Devices Market
34. Internal Neuromodulation Devices Market Future Outlook and Potential Analysis
35. Appendix
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