The neuromodulation market accounted to USD 4.05 billion in 2016 growing at a CAGR of 12.22% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
For reaching towards the success at local, regional as well as international level, this high quality global neuromodulation market research report is a state-of-the-art solution. Clients get clear understanding of the market place with a nice combination of best industry insight, practical solutions, talent solutions and latest technology while using this report for the business growth. This neuromodulation market report considers various factors that have great effect on the growth of business which includes historic data, present market trends, environment, technological innovation, upcoming technologies and the technical progress in the healthcare industry.
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The usefulness of SWOT analysis and Porter’s Five Forces analysis in generating market research report makes it preferable by the businesses and hence also used while preparing this neuromodulation report. In addition, this market report also endows with top to bottom estimation of the market with respect to income and developing business sector. The report is a great source of an in-depth market analysis to prosper in this competitive environment. Further, market drivers and market restraints displayed in this neuromodulation report gives idea about the rise or fall in the consumer demand for the particular product depending on a number of factors.
Major Market Competitors: Global Neuromodulation Market
Some of the major players operating in neuromodulation market are
- BioAlps Association,
- Bioness Inc.,
- Soterix Medical Inc.,
- Boston Scientific Corporation,
- LivaNova PLC,
- Axonics Modulation Technologies, Inc.,
- Cochlear Ltd.,
- Nevro Corp.,
- Cogentix Medical,
- Johnson & Johnson Services Inc.,
- NeuroPace, Inc.,
Major market drivers and restraints:
Rise in geriatric population
Increase in cases of neurological diseases such as Alzheimer’s and Parkinson’s diseases
Increase in awareness regarding the safety and efficacy of neurostimulator devices
Robust product pipeline
Rise in investments and funds
Unfavorable reimbursement policies
Lack of healthcare professionals
Table of Contents
5.Global, By Component
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Market Segmentation: Global Neuromodulation Market
The neuromodulation market is segmented by technology into internal neuromodulation and external neuromodulation (Non-invasive). Internal Neuromodulation is sub segmented into spinal cord stimulation (SCS), deep brain stimulation (DBS), vagus nerve stimulation (VNS), sacral nerve stimulation (SNS) and gastric electrical stimulation (GES).External neuromodulation (non-invasive) is sub segmented into transcutaneous electrical nerve stimulation (TENS), transcranial magnetic stimulation (TMS) and respiratory electrical stimulation (RES).
On the basis of application the market is segmented into spinal cord stimulation (SCS), deep brain stimulation (DBS), sacral nerve stimulation market, vagus nerve stimulation market, gastric electrical stimulation market, transcutaneous electrical nerve stimulation market, repetitive transcranial magnetic stimulation market and respiratory electrical stimulation market.
Spinal cord stimulation (SCS) market is further sub segmented by application into failed back syndrome (FBSS), chronic pain and ischemia. Deep brain stimulation (DBS) marketis further sub segmented by application into Parkinson’s disease, tremor and depression. Sacral Nerve Stimulation Marketis further sub segmented by application into urine incontinence and fecal incontinence.Vagus Nerve Stimulation Marketis further sub segmented by application intoepilepsy and others.Gastric electrical stimulation market is further sub segmented by application intogastroparesis and obesity.Transcutaneous electrical nerve stimulation market is further sub segmented by application into treatment resistant depression and others. Repetitive transcranial magnetic stimulation market is further sub segmented by application into depression and migraine headache.Respiratory electrical stimulation market is further sub segmented by application into spinal cord injury.
On the basis of geography, neuromodulation market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, andBrazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Neuromodulation Market
The neuromodulation market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of neuromodulation market for global, Europe, North America, Asia Pacific and South America.
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