Global Neuromodulation Devices Market is expected to grow at a CAGR of 9.5% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Neuromodulation Devices Market by By Biomaterial (Ceramic, Polymeric, Metallic), Technology (External Neuromodulation, Internal Neuromodulation), Applications (Transcranial Magnetic Stimulation Market, Deep Brain Stimulation Market, Vagus Nerve Stimulation Market, Respiratory Electrical Stimulation Market, Transcutaneous Electrical Nerve Stimulation Market, Spinal Cord Stimulation Market, Sacral Nerve Stimulation Market, Gastric Electrical Stimulation Market), Regions, and Global Forecast 2020-2027.
The global neuromodulation devices market is expected to grow from USD 4.9 billion in 2019 to USD 10.2 billion by 2027, at a CAGR of 9.5% during the forecast period 2020-2027. The Asia-Pacific region stands as a promising market for neuromodulation devices and is expected to grow at the highest CAGR during the forecast period. The primary drivers of this market’s growth are rising investment in R&D and the high prevelance of neurological disorders. The markets in Japan, Thailand, Indonesia, China, and India are proliferating, commanding significant shares in the regional market.
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Key players in the global neuromodulation devices market are BioControl Medical, Medtronic, BlueWind, LivaNova, Integer Holdings Corporation, Neuronano, NeuroSigma, Nevro Corporation, Neuronetics, MicroTransponder, Abbott, Synapse Biomedical, GiMer Medical, Neuronano, Boston Scientific Corporation, GTX Medical, Nevro Corporation, Bioness, Soterix Medical, Helius Medical Technologies, NeuroPace, and GiMer Medical among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global neuromodulation devices market.
NeuroSigma signed a cooperation contract with Teijin Limited in 2019. The collaboration granted Teijin Pharma, the core business of Teijin’s healthcare group, exclusive rights to market the Monarch eTNS system of NeuroSigma in Japan, as well as the TNS patent rights of the company in Japan relating to completely non-invasive medical treatment of ADHD.
The biomaterial segment includes ceramic, polymeric and metallic. Based on technology, the market has been divided into external neuromodulation, and internal neuromodulation. On the basis of applications, the market has been segmented into transcranial magnetic stimulation market, deep brain stimulation market, vagus nerve stimulation market, respiratory electrical stimulation market, transcutaneous electrical nerve stimulation market, spinal cord stimulation market, sacral nerve stimulation market, and gastric electrical stimulation market. The deep brain stimulation segment held the largest market share due to the rising number of cases of Parkinson’s disease and heavy R&D investment.
About the report:
The global neuromodulation devices market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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