Global Internal Neuromodulation Devices Market – Industry Trends and Forecast to 2029

Global Internal Neuromodulation Devices Market Analysis and Size

The market for internal neuromodulation devices is estimated to increase rapidly over the forecast period. Neuromodulation devices are one of medicine's fastest-growing fields, involving a wide range of professionals and affecting hundreds of thousands of patients with a wide range of illnesses worldwide. Neuromodulation devices have become more important in the treatment of chronic pain patients. These devices are designed to alleviate the unpleasant sensory experience of pain and the functional and behavioural consequences of pain. Therefore, these factors will enhance the demand for internal neuromodulation devices in the market.   

• Data Bridge Market Research analyses that the internal neuromodulation devices market was valued at USD 7.72 billion in 2021 and is expected to reach USD 28.6 billion by 2029, registering a CAGR of 15.1% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Global Internal Neuromodulation Devices Market Definition

Internal neuromodulation devices are renowned for altering nerve activity directly to a target area by administering electrical or pharmacological substances straight to the target area. Neuromodulation devices can treat practically any condition that affects the entire body.

Internal Neuromodulation Devices Market Dynamics

Drivers

• Increasing number of patient suffering from brain diseases will drive the market's growth rate.

The increase in variety of headache and brain diseases patients will cushion the growth rate of internal neuromodulation devices market.

• Rise in the growth of neurostimulators will propel the growth rate of market during the forecast period. 

The internal neuromodulation devices market is being driven by the increase in growth of neurostimulators within the treatment of depression and sleep apnea.

Furthermore, the rising awareness about neurodegenerative diseases will be a major factor influencing the growth of the internal neuromodulation devices market. Along with this, rapid urbanization and rising geriatric population are also driving the growth of the internal neuromodulation devices market. Also, the rise in the changing lifestyle and increasing expenditure on healthcare infrastructure are the major market drivers that will further escalate the growth of internal neuromodulation devices market. Another significant factor that will cushion the internal neuromodulation devices market's growth rate is the rising gastric, chronic and nerve disability conditions.

Opportunities

• Growing number of R&D activities will boost many market opportunities during the forecast period

Moreover, the rising number of research and development activities will provide beneficial opportunities for the internal neuromodulation devices market growth. Along with this, increase in extensive new indications and target applications linked with the robust product pipeline offered by various market players will flourish the growth rate of the internal neuromodulation devices market.  

Moreover, the growing focus of manufacturers on the adoption of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the internal neuromodulation devices market growth during the forecast period.

Restraints/Challenges Global Internal Neuromodulation Devices Market

• High cost associated with neuromodulation devices will hamper the market's growth rate

However, high cost associated with the associated with neuromodulation devices as well as procedures will impede the internal neuromodulation devices market's growth rate.

On the other hand, the dearth of skilled professionals in under-developed nations will challenge the internal neuromodulation devices market. Additionally, the emergence of unfavorable conditions due to COVID-19 outbreak and lack of awareness will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.

This internal neuromodulation devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the internal neuromodulation devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Internal Neuromodulation Devices Market

The fast spread of coronavirus caused the COVID-19 pandemic outbreak. The transmission of this virus has a significant impact on many parts of the globe. Countries have yet to recover from this infection, and a new form of the virus has emerged as a big issue for them. The global economy is causing issues for businesses and governments alike. Apart from the healthcare industry, the pandemic has significantly impacted many sectors. The healthcare sector is experiencing a surge in demand as a result of the pandemic, and the reason is clear. With the rising number of health problems caused by the pandemic, the healthcare sector will grow even more. Neuromodulation devices are used to treat a wide range of illnesses. Many people have encountered serious health difficulties as a result of the virus; as a result, demand for neuromodulation devices will increase. The enforcement of lockdown, however, is expected to cause problems in the manufacturing industry for neuromodulation devices.

Recent Development

• In March 2021, Abbott had launched virtual clinics for its neuromodulation devices. The company's NeuroSphere initiative, which the FDA recently approved, intends to connect people suffering from chronic pain or movement disorders, such as Parkinson's disease or essential tremors, who may not live near or be able to access their healthcare provider in person.

Global Internal Neuromodulation Devices Market Scope

The internal neuromodulation devices market is segmented on the basis of product type, lead type, biomaterial, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Spinal Cord Stimulator
• Deep Brain Stimulator
• Vagus Nerve Stimulator
• Sacral Nerve Stimulator
• Gastric Nerve Stimulator

Based on product type, the internal neuromodulation devices market is segmented into spinal cord stimulator, deep brain stimulator, vagus nerve stimulator, sacral nerve stimulator, and gastric nerve stimulator.

Lead Type

• Percutaneous
• Paddle Lead

The lead type segment of the internal neuromodulation devices market is segmented into percutaneous and paddle lead.

Biomaterial

• Metallic
• Polymeric
• Ceramic

Based on biomaterial, the internal neuromodulation devices market is segmented into metallic, polymeric and ceramic.

Application

• Failed Back Surgery Syndrome
• Parkinson's disease
• Urinary Incontinence
• Epilepsy
• Gastroparesis

On the basis of application, the internal neuromodulation devices market is segmented into failed back surgery syndrome, Parkinson's disease, urinary incontinence, epilepsy, and gastroparesis.

End-User

• Hospitals
• Clinics
• Home Healthcare
• Community Healthcare

The end-user segment of the internal neuromodulation devices market is segmented into hospitals, clinics, home healthcare and community healthcare.

Internal Neuromodulation Devices Market Regional Analysis/Insights

The internal neuromodulation devices market is analysed and market size insights and trends are provided by country, product type, lead type, biomaterial, application and end-user as referenced above.

The countries covered in the internal neuromodulation devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the internal neuromodulation devices market because of the rise in variety of headache and brain disease patients in this region. Additionally, rising awareness on neurodegenerative disorders and increase in growth of neurostimulators within the treatment of depression and sleep apnea will flourish the market's growth rate in this region. 

Asia-Pacific is expected to grow during the forecast period due to rising population and surging adoption of improved technologies in this region. Along with this, emerging healthcare infrastructure and increasing purchasing power of hospitals will propel the market's growth rate in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The internal neuromodulation devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for internal neuromodulation devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the internal neuromodulation devices market. The data is available for historic period 2010-2020.

Competitive Landscape and Internal Neuromodulation Devices Market Share Analysis

The Internal neuromodulation devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to internal neuromodulation devices market.

Some of the major players operating in the internal neuromodulation devices market Medtronic (Ireland), Boston Scientific Corporation (US), NEVRO CORP (US), Cyberonics, Inc. (US), Inspire Medical Systems, Inc. (US), SPR Therapeutics (US), ALEVA NEUROTHERAPEUTICS SA (Switzerland), Bioness Inc. (US), ReShape Lifesciences, Inc. (US), LivaNova PLC (UK), NeuroPace, Inc. (US), Synapse Biomedical Inc. (US), Soterix Medical Inc. (US), Accellent Technologies, Inc. (US), Abbott (US), Bioventus (US), Soterix Medical Inc. (US), Integer Holdings Corporation (US), among others.

Research Methodology : Global Internal Neuromodulation Devices Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-internal-neuromodulation-devices-market

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