Increasing prevalence of neurological disorders, the rise in geriatric population, and elevating demand for Neuromodulation in developing countries have resulted in boosting the Neuromodulation market.
New York City, United States – May 28, 2020 /MarketersMedia/ —
The Global Neuromodulation market is forecast to reach USD 17.85 Billion by 2027, according to a new report by Reports and Data. Neuromodulation can be described as the alteration of synaptic and neuronal properties by neurons or substances released by neurons. The medical action is usually mediated by G-protein-coupled receptors, which generally impacts some membrane proteins and ion channels. The impact on membrane proteins and ion channels results in altering synaptic release, synaptic, or firing response properties of neurons. The medical action changes the way in which neurons respond in the neuronal circuits enabling the production of multiple outputs reconfiguring networks by the anatomically defined circuits into different functional circuits. The impact of the treatment is not static; rather, it results in neuronal circuit’s dynamic regulation.
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Leading Neuromodulation manufacturers/companies operating at both regional and global levels:
Boston Scientific Corporation, Medtronic, Inc., Cyberonics, Inc., ST. Jude Medical, Inc., Neurosigma, Inc., Nevro Corporation, Biocontrol Medical, Neuropace, Inc., Neuronetics, Inc. and Synapse Biomedical, Inc.
For the purpose of this report, Reports and Data have segmented the global Neuromodulation market, according to Technology, Biomaterial, Application, End-user, and Region:
Technology Outlook (Revenue, USD Billion; 2016-2027)
• Internal Neuromodulation
• External Neuromodulation (Non-Invasive)
Biomaterial Outlook (Revenue, USD Billion; 2016-2027)
• Polymeric
• Metallic
• Ceramic
Application Outlook (Revenue, USD Billion; 2016-2027)
• Deep Brain Stimulation (DBS)
• Spinal Cord Stimulation (SCS)
• Vagus Nerve Stimulation
• Sacral Nerve Stimulation
• Others
End-user Outlook (Revenue, USD Billion; 2016-2027)
• Hospitals
• Clinics
• Home healthcare
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Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America
Further key findings from the report suggest
• The Neuromodulation market held a market share of USD 6.60 Billion in the year 2018 that is forecasted to grow at a rate of 10.8% during the forecast period.
• In context to Technology, the Internal Neuromodulation segment generated a higher revenue of more than USD 4.20 Billion in 2018, with a CAGR of 10.4% during the forecast period.
• In context to Biomaterial, the Metallic segment can be seen to generate a significant revenue of USD 2.97 Billion in 2018, with a CAGR of 11.0% during the forecast period. The revenue generated by the Metallic segment is attributed to the high demand for metallic biomaterial like platinum group metals for permanent implantable electronic devices and elevating demand for cochlear implants that requires platinum electrode array.
• In context to Application, the Deep Brain Stimulation (DBS) segment is projected to witness the fastest growth rate of 11.5% during the forecast period, which is expected to occupy 26.4% by 2027.
• In regards to End-user, the Hospitals segment held the largest market share of 59.0% in 2018, with a CAGR of 11.0% during the forecast period. The high incidence rate of conditions like Alzheimer’s disease, chronic pain, and associated elevated number of indoor and outdoor patients contributes to the market share held by the Hospitals segment.
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To summarize, the global Neuromodulation market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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