This report aims to provide detailed insights into the Neuromodulation Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Expected Revenue Growth Analysis:
The neuromodulation market is projected to grow at a CAGR of 8.6% during the forecast period to reach USD 8.8 billion by 2025 from USD 5.8 billion in 2020.
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Key Factors Driving Market Growth:
The Factors such as the rising prevalence of neurological disorders, increasing research into expanding the applications of neuromodulation, and awareness on neurodegenerative disorders are driving neuromodulation market growth.
The internal neuromodulation segment accounted for the largest share of the Neuromodulation Market.
Based on technology, the neuromodulation is segmented into internal neuromodulation and external neuromodulation. The internal neuromodulation segment accounted for the largest share of the spinal cord stimulation market in 2019. This can be attributed to the benefits of internal neuromodulation technologies, such as reductions in post-surgical complications and length of hospital stay, as well as long-term cost savings associated with the use of internal neuromodulation devices.
The transcutaneous electrical nerve stimulation segment accounted for the largest share of the External Neuromodulation in 2019.
Based on type, the External Neuromodulation is segmented into transcutaneous electrical nerve stimulation (TENS), transcranial magnetic stimulation (TMS), and respiratory electrical stimulation (RES). TENS accounted for the largest share of spinal cord stimulation market in 2019. This is mainly due to the higher incidence of chronic disorders, the wide range of applications of these devices, their cost-effectiveness, and the rising demand for non-invasive therapy.
North America to dominate the Neuromodulation Market during the forecast period
In 2019, North America dominated the market, followed by Europe. The major factors driving the growth of spinal cord stimulation market include the rising prevalence of chronic diseases, the increasing geriatric population, and the rising number of cases of Lyme and Alzheimer's disease.
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The prominent players in this market include Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), and LivaNova (UK), Synapse Biomedical, Inc. (US), Nevro Corporation (US), NeuroSigma (US), NeuroPace (US), Neuronetics (US), and BioControl Medical (Israel).
Medtronic (Ireland) dominated the global neuromodulation market. The company’s leading position can be attributed to its wide portfolio of neuromodulation devices and a strong geographical footprint. The company operates in the US, Europe, and the Asia Pacific. It serves clinicians, physicians, hospitals, and patients in more than 160 countries. R&D is a key area of focus for Medtronic—it invested USD 2,330 million in 2019, as compared to USD 2,256 million in 2018 and USD 2,193 million in 2017. The company focuses on organic as well as inorganic growth strategies to gain a competitive edge.
Recent Developments:
1. In 2019, NeuroSigma signed a partnership agreement with Teijin Limited (Teijin) (Japan). The partnership granted Teijin Pharma, the core company of Teijin’s healthcare business, exclusive rights to market NeuroSigma’s Monarch eTNS system in Japan, as well as the company’s TNS patent rights in Japan related to the non-invasive treatment of ADHD.
2. In 2018, Abbott signed an agreement with the National Institutes of Health (NIH) (US). As per the agreement, Abbott will provide neuromodulation technologies, including directional DBS, SCS, and DRG therapy, for NIH research to explore their applications in chronic pain and progressive movement disorders.
3. In 2017, Medtronic signed a partnership agreement with Mercy (US) to establish a new data sharing and analysis network that helps gather clinical evidence for medical device innovation and patient access
Neuromodulation Market: Emerging Industry Trends and Opportunities
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Increasing prevalence of gastrointestinal diseases is anticipated to catalyze the growth of the market in the years to come.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/7784Ultrasound gastroscopes are used by surgeons and physicians for treating stomach cancer, pancreatic diseases, etc.
According to a study based on statistics provided by the American Society of Clinical Oncology, 11,140 patients are likely to succumb to gastric cancer in the U.S. in 2019.
The growing population of older adults is expected to have a favorable impact on the growth pattern of the ultrasound gastroscopes market over the next couple of years.
Thus, an upswing in the revenue generation is projected in the ultrasound gastroscopes market over the next couple of years.The focus of the key players is on the introduction of advanced products.
The Angel Healthcare is a consulting organisation that operates in the sphere of Healthcare Management, Healthcare Finance and Healthcare Technology.
The comprehensive understanding of the healthcare industry prompted the team behind TAH to visualise all of the services that we offer to our clients today.
The forerunners of TAH Global are doctors and management experts with a history of operating with reputed hospitals and medical consulting firms.
The team accredits their knowledge of healthcare sphere to the years of experience dealing with medical organisations as well as patients from all walks of life.
Since its establishment, TAH Global has successfully brought freelance consultants of this industry under the wing of our organisation to cater to clients and establish itself as a renowned organisation.
Hospitals and health care systems are embracing the latest innovation and healthcare technology for seeking the care of the patient.This article explains the three Healthcare Technologies that have become a must to be in the Hospitals.
The Angel Healthcare is a consulting organisation that operates in the sphere of Healthcare Management, Healthcare Finance and Healthcare Technology.
The comprehensive understanding of the healthcare industry prompted the team behind TAH to visualise all of the services that we offer to our clients today.
The forerunners of TAH Global are doctors and management experts with a history of operating with reputed hospitals and medical consulting firms.
The team accredits their knowledge of healthcare sphere to the years of experience dealing with medical organisations as well as patients from all walks of life.
Since its establishment, TAH Global has successfully brought freelance consultants of this industry under the wing of our organisation to cater to clients and establish itself as a renowned organisation.
To implement telemedicine and teleradiology software solutions in your healthcare organizations, contact us and be successful in healthcare technology.The system of applying the convenience of the information and communication technology and portable point of care devices in the field of medicine is termed as ‘Telemedicine’.Learn More: https://www.frontenders.in/services/tele-medicine-and-tele-radiology.html
Hospitals and health care systems are embracing the latest innovation and healthcare technology for seeking the care of the patient.This article explains the three Healthcare Technologies that have become a must to be in the Hospitals.
Market Synopsis:Technological advancements in the healthcare sector have led to the development of medical devices and equipment for facilitating the treatment of diseases related to the gastrointestinal tract.
Market Research Future, in its latest study, has revealed that the global ultrasound gastroscopes market was valued at USD 630.2 Mn in 2017 and is projected to exhibit a CAGR of 6.32% over the forecast period 2018 to 2023.
Increasing prevalence of gastrointestinal diseases is anticipated to catalyze the growth of the market in the years to come.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/7784Ultrasound gastroscopes are used by surgeons and physicians for treating stomach cancer, pancreatic diseases, etc.
According to a study based on statistics provided by the American Society of Clinical Oncology, 11,140 patients are likely to succumb to gastric cancer in the U.S. in 2019.
The growing population of older adults is expected to have a favorable impact on the growth pattern of the ultrasound gastroscopes market over the next couple of years.
Thus, an upswing in the revenue generation is projected in the ultrasound gastroscopes market over the next couple of years.The focus of the key players is on the introduction of advanced products.