The Business Research Company’s report on the Internal Neuromodulation Devices Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the internal neuromodulation devices industry?
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 April 2023, National Library Medicine, a US-based biomedical library, reported that 6.7 million Americans are living with Alzheimer’s in 2023, by 2060, this number is projected to rise to 13.8 million. For instance, in May 2022, according to the reports published by House of Lords Library, a UK-based information services company, as of January 31, 2022, there were 1,638 full-time equivalent staff in the neurology workforce in England, an increase from 1,562 in 2021 and 1,468 in 2020. Therefore, the increasing incidence of neurologic diseases is driving the growth of the internal neuromodulation devices market.
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What is the estimated market size of the internal neuromodulation devices sector by 2029, based on current forecasts?
The internal neuromodulation devices market size has grown strongly in recent years. It will grow from$2.59 billion in 2024 to $2.77 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. 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 “$3.94 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. 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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#Who are the top players in the internal neuromodulation devices market?
Major companies operating in the internal neuromodulation devices market include Medtronic plc, Boston Scientific Corporation, BioControl Medical Ltd., Aleva Neurotherapeutics SA, Bioness Inc., Uroplasty Inc., Abbott Laboratories, EnteroMedics Inc., LivaNova plc, NeuroPace Inc., Synapse Biomedical Inc., Soterix Medical 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.
#What are the major trends in the internal neuromodulation devices market?
Product innovations are a key trend gaining popularity in the internal neuromodulation devices market. Major companies operating in the internal neuromodulation devices segment are focused on innovating new technologies to sustain their position in the market. For instance, in March 2023, Neuromod Device Ltd., an Ireland-based medical equipment manufacturer, announced that its Lenire system had been granted De Novo clearance by the US Food and Drug Administration (FDA). The Lenire system uses a combination of sound stimulation and tongue stimulation to treat tinnitus, a neurological disorder characterized by ringing in the ears. The Lenire system uses a dual-pronged approach to neurostimulation. Bluetooth headphones play unique sounds that are intended to stimulate the auditory nerve, while Neuromod’s Tonguetip device is inserted into the mouth and transmits moderate electrical stimulation to the tongue’s surface. Now that the otolaryngologist has access to innovative Lenire technology, he or she can recommend it to patients whose tinnitus is having at least a moderately negative impact on their lives.
Which geography holds the highest internal neuromodulation devices market share?
North America was the largest region in the internal neuromodulation devices market in 2024.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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How do different segments contribute to the overall expansion of the internal neuromodulation devices market?
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
Subsegments:
1) By Spinal Cord Stimulator: Traditional Spinal Cord Stimulator, Rechargeable Spinal Cord Stimulator, Non-Rechargeable Spinal Cord Stimulator
2) By Deep Brain Stimulator: Single Lead Deep Brain Stimulator, Dual Lead Deep Brain Stimulator, Adaptive Deep Brain Stimulator
3) By Sacral Nerve Stimulator: Implantable Sacral Nerve Stimulator, External Sacral Nerve Stimulator
4) By Vagus Nerve Stimulator: Implantable Vagus Nerve Stimulator, Transcutaneous Vagus Nerve Stimulator
5) By Gastric Neuro Stimulator: Implantable Gastric Neuro Stimulator, External Gastric Neuro Stimulator
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How is the internal neuromodulation devices market defined?
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.
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