Neuromodulation Devices Market Size to Grow by USD 3.20 billion, Majority of Market Growth to Originate from North America – Market.us
Pune, Maharashtra, India, September 16 2022 (Wiredrelease) Prudour Pvt. Ltd –:Neuromodulation devices are a new and exciting treatment option for patients with various conditions. Neuromodulation is the process of altering nerve activity in the body by using electrical stimulation or other means. This can be done through implantable devices that deliver electrical stimulation to specific areas of the body, or through non-invasive methods such as transcranial magnetic stimulation (TMS). Neuromodulation has been shown to be effective in treating conditions like chronic pain, epilepsy, Parkinson’s disease, and depression.
The global neuromodulation devices market size was valued at USD 3.20 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.6% from 2022 to 2032.
Neuromodulation therapy is a great way to manage neurological disorders, such as Parkinson’s, Alzheimer’s, stroke, cerebrovascular disease, Alzheimer’s, and other brain diseases. Neuromodulation, a minimally invasive and non-invasive treatment for neurological disorders, is neuromodulation. Implantable medical devices that can alter the nerves with electrical stimulations are called neuromodulation.
The American Academy of Neurology has released statistics that show nearly 1,000,000 Americans are affected with Parkinson’s disease. This number is growing each year with an additional 60,000 cases. The Hearing Health Foundation published data in 2020 that showed 48 million Americans are affected by tinnitus or deafness in the United States and 477 millions worldwide. According to the World Health Organization factsheet, epilepsy is a condition that affects approximately 50 million people around the world. An estimated 2.4 million cases are diagnosed each year. With the increase in neurological disorders, the demand is expected to rise during the forecast period.
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Global Neuromodulation Devices Market: Drivers
Over the forecast period, the market for global neuromodulation device is expected to see a rise in neurological disorders. According to Alzheimer’s Association estimates that around 5.8million Americans aged 65 or older will have Alzheimer’s dementia by 2020.
Market growth will also be supported by an increase in the geriatric population. According to the U.S. Census Bureau the U.S. geriatric population should reach 77 million in 2034.
North America held the dominant position in 2019’s global neuromodulation device market, accounting for 58.6% of total value. Europe followed Asia Pacific and Europe, respectively.
Global Neuromodulation Devices Market: Restraints
Neuromodulation devices can have side effects that could cause serious health problems. This will likely slow the growth of the global market. Side effects of neuromodulation implanting surgery include hoarseness, allergy, and hoarseness. There are also risks associated with neuromodulation devices due to the electrical impulses they generate. The device can cause injuries to nearby nerves and blood vessels. For example, a VNS pacemaker might cause damage the vagus nerve and carotid veins.
There are also other treatment options available, such as drugs and surgery (e.g. The market’s growth is expected to be impeded by Pallidotomy.
To improve their market position in the global Neuromodulation Devices marketplace, key players now focus on product innovations, mergers/acquisitions, recent developments and joint ventures, collaborations, and partnerships. Market players compete based on product quality. This market is dominated by major players who invest in R&D, manufacturing, and infrastructure development. They also look to integrate opportunities across the value chain.
Key Takeaways from the Competitive Landscape Section:
* A comprehensive overview of the profiles of each company of interest
* Participation in revenue share
* Analysis of each key player’s industrial chains
* Business growth strategies mastered by top market players
Key players operating in the global Neuromodulation Devices market are:
St. Jude Medical (Abbott)
Worldwide Neuromodulation Devices Market Segmentation
Analysis by Product Type
Deep Brain Stimulation (DBS)
Spinal Cord Stimulation (SCS)
Vagus Nerve Stimulation (VNS)
Sacral Nerve Stimulation (SNS)
Gastric Electrical Stimulation (GES)
Analysis by Applications Type
Parkinson s Disease
Urinary and Fecal Incontinence
Regional Segment Analysis of the Neuromodulation Devices Market
– North America (U.S., Canada, Mexico)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Rest of APAC)
– South America (Brazil and the Rest of South America)
– The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Research Methodology by Market.us
Five phases will be used to conduct research on the keyword market. These include primary research as well as secondary research. Subject matter expert advice and quality control are also included. After gaining a better understanding of the requirements, secondary research was conducted to identify segment specifications, qualitative and quantitative data as well the factors driving the market growth. Secondary sources used in the study are press releases, annual reports from companies and research papers that relate to the industry.
For precise information on market expansion opportunities, data was also gathered from various sources, including trade journals, industry magazines, government websites and associations. Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Faction, Bloomberg, One Source and Hoovers, which proved to be useful for in-depth technical study of the market.
This report answers the following 12 key questions
1. Is Neuromodulation Devices a booming industry?
2. How big is the Neuromodulation Devices market?
3. How fast is the Neuromodulation Devices industry growing?
4. Who are the key players in Neuromodulation Devices?
5. Which industry uses Neuromodulation Devices the most?
6. What is the Neuromodulation Devices market growth?
7. Which region held the largest arNeuromodulation Devices market share?
8. What factors drive the Neuromodulation Devices market?
9. What are the business risks and threats to the market?
10. What are the emerging trends in this market and the reasons behind them?
11. What are some changing demands of customers in the market?
12. What are the new developments in the market? Which companies are leading these developments?
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Chapter 1 Preface
This segment provides opinions of key participants, an audit of Neuromodulation Devices industry, market outlook across key regions, financial services, and various challenges faced by Neuromodulation Devices market. It briefly introduces the global Neuromodulation Devices market. This section depends on the Scope of the Study and Report Guidance.
Chapter 2 Executive Summary
It elaborated market outlook by segmentation in Neuromodulation Devices market. In addition, it also represents the market snapshot covered in the report.
Chapter 3 Market Dynamics
This section comprises current market dynamics in the Neuromodulation Devices market. Such as key driving factors, major opportunities areas, restraining factors, & recent trends in Neuromodulation Devices market. It also includes SWOT analysis and Porter’s five force analysis. This help to identify the key growth factors and challenges in the Neuromodulation Devices market.
Chapter 4 Global Neuromodulation Devices market Analysis, Opportunity, and Forecast, 2016-2032
This chapter comprises the current scenario of the Global Neuromodulation Devices market in 2021, including forecast estimation for 2023-2032.
Chapter 5 Geographic Analysis
This section has covered in-depth regional market share analysis and carefully scrutinized it to understand its current and future growth, development, and demand scenarios for this market.
Chapter 6 Covid-19 Impact
This section briefly describes the positive and negative impact of the COVID-19 Pandemic on the Global Neuromodulation Devices Market.
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Chapter 7 Pricing Analysis
This chapter provides price point analysis by region and other forecasts.
Chapter 8 Competitive Landscape
It includes major players in the Neuromodulation Devices market. Moreover, it also covers the detailed company shares analysis in the report based on their product’s demand, and market served, the number of products, applications, regional growth, and other factors.
Chapter 9 Research Methodology
The research methodology chapter includes the following main facts,
9.2 Secondary Research
9.3 Primary Research
Chapter 10 Conclusion
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