North America Internal Neuromodulation Devices Market, By Product Type (Spinal Cord Stimulator, Deep Brain Stimulator, Vagus Nerve Stimulator, Sacral Nerve Stimulator, Gastric Nerve Stimulator), lead Type (Percutaneous, Paddle Lead), Biomaterial (Metallic, Polymeric, Ceramic), Battery Type (Primary, Rechargeable), Application (Failed Back Surgery Syndrome, Parkinson's disease, Urinary Incontinence, Epilepsy, Gastroparesis), End-User (Hospitals, Clinics, Home Healthcare, Community Healthcare) – Industry Trends and Forecast to 2030.
North America Internal Neuromodulation Devices Market Analysis and Size
The increasing burden of neurological diseases and the growing demand for minimally invasive technologies are the primary factors that help escalate market growth. There has been a steady increase in the total number of neurological disorder patients from numerous states of the U.S. and Canada, leading to rising demand for neurostimulation devices. It has been witnessed that the spinal cord stimulators segment dominated the market because of the high use of spinal cord stimulators for the treatment of chronic pain and nerve pain.
Data Bridge Market Research analyses a growth rate in the internal neuromodulation devices market in 2023-2030. The expected CAGR of the internal neuromodulation devices market tends to be around 15% in the mentioned forecast period. The market was valued at USD 3.75 billion in 2023 and would grow to USD 11.5 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
North America Internal Neuromodulation Devices Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Spinal Cord Stimulator, Deep Brain Stimulator, Vagus Nerve Stimulator, Sacral Nerve Stimulator, Gastric Nerve Stimulator), lead Type (Percutaneous, Paddle Lead), Biomaterial (Metallic, Polymeric, Ceramic), Battery Type (Primary, Rechargeable), Application (Failed Back Surgery Syndrome, Parkinson's disease, Urinary Incontinence, Epilepsy, Gastroparesis), End-User (Hospitals, Clinics, Home Healthcare, Community Healthcare)
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Countries Covered
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U.S., Canada, Mexico
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Market Players Covered
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Medtronic (Ireland), Boston Scientific Corporation (U.S.), NEVRO CORP (U.S.), Cyberonics, Inc. (U.S.), Inspire Medical Systems, Inc. (U.S.), ALEVA NEUROTHERAPEUTICS (Switzerland), Bioventus (U.S.), ReShape Lifesciences, Inc. (U.S.), LivaNova PLC (U.K.), NeuroPace, Inc. (U.S.), Synapse Biomedical Inc. (U.S.), Accellent Technologies, Inc. (U.S.), Abbott (U.S.), Soterix Medical Inc. (U.S.), Integer Holdings Corporation (U.S.)
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Market Opportunities
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Market Definition
Internal neuromodulation devices mainly stimulate nerves with pharmaceutical agents, electrical signals, or other forms of energy by moderating abnormal neural pathway behavior caused by the disease. Neuromodulation devices can treat many diseases considering the entire body area. Examples of invasive neuromodulation therapies are cortical stimulation, vagus nerve stimulation, deep brain stimulation (DBS), spinal cord stimulation, and peripheral nerve stimulation.
North America Internal Neuromodulation Devices Market Dynamics
Drivers
- Increasing Rate of Neurological Disorders
There are numerous types of neurological disorders, such as cerebrovascular diseases, including epilepsy, multiple sclerosis, Parkinson's disease, and poliomyelitis, among other major diseases. For instance, according to a study published in 2021, the incidence of epilepsy is significantly high in Mexico. The incidence of epilepsy in Mexico was reported at 3.9 to 42.2 per 1,000 inhabitants. Thus, the incidence of epilepsy cases is expected to increase the adoption of neuromodulation devices. Thus, this factor increases the growth of the market.
- Increasing Product Launches by Market Players
The growing rate of product launches by the major market players may boost the market growth. For instance, the United States Food and Drug Administration (U.S. FDA) granted marketing authorization for the Portable Neuromodulation Stimulator (PoNS) to Helius Medical, Inc in 2021. This is a neuromuscular tongue stimulator that consists of a non-implantable apparatus to produce electrical pulses for stimulation of the trigeminal and facial nerves through the tongue to provide treatment of motor deficits. This factor boosts the market growth.
Opportunities
- Growing Incidence of Arthritis
As per the CDC update published in 2021, in the U.S., around 58.5 million people have doctor-diagnosed arthritis, and it was found that arthritis is more common in women (23.5%) than men (18.1%). It is also stated that the incidence of arthritis grows with age. With this increasing population, the use of these devices is further anticipated to increase, which is expected to drive the market's growth.
- Increasing Technological Advancements by Market Players
Several technological advancements in the pain management sector and numerous strategies adopted by the major market players are anticipated to boost market growth. For instance, Abbott launched NeuroSphere myPath which is a digital health app, mainly designed to track and report on patient-perceived pain relief and well-being associated with spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy in 2021. Thus, this factor boosts market growth.
Restraints/Challenges
- Huge Expenditure on Neuromodulation Devices
There are various side effects related to neuromodulation devices that impede market growth. The average price of neuromodulation devices for chronic pain management varies from $13920 to $17940, and the usual cost of neuromodulation devices for epilepsy ranges from $25420 to $25970. This high cost of neuromodulation devices impedes the growth of the market.
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.
Recent Development
- In 2022, DyAnsys received U.S. FDA approval for its percutaneous electrical neurostimulation (PENS) device, First Relief, for treating diabetic neuropathic pain. First Relief is launched for symptomatic Relief of chronic, intractable pain associated with diabetic peripheral neuropathy through multiple treatments for up to 56 days.
- In 2022, Precisis GmbH received a Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) for its EASEE brain stimulator. Precisis GmbH is a Heidelberg-based company that focuses on developing innovative medical devices.
North America Internal Neuromodulation Devices Market Scope
The internal neuromodulation devices market is segmented on the basis of product type, lead type, biomaterial, battery type, 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
- Deep Brain
- Vagus Nerve
- Sacral Nerve
- Gastric Nerve
Lead Type
- Percutaneous
- Paddle Lead
Biomaterial
- Metallic
- Polymeric
- Ceramic
Battery Type
- Primary
- Rechargeable
Application
- Failed Back Surgery Syndrome
- Parkinson's disease
- Urinary Incontinence
- Epilepsy
- Gastroparesis
End-User
- Hospitals
- Clinics
- Home Healthcare
- Community Healthcare
Internal Neuromodulation Devices Market Regional Analysis/Insights
The internal neuromodulation devices market is analyzed and market size insights and trends are provided by product type, lead type, biomaterial, battery type, application, and end-user as referenced above.
The major countries covered in the internal neuromodulation devices market report are U.S., Canada, Mexico.
The U.S. is expected to have a huge market growth due to increasing cases of neurological disorders and the existence of various pharmaceutical and biotechnology companies within the region. Also, product launches and approval by regulatory authorities are expected to boost market growth in the 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. Also, the presence and availability of North america 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 2011-2021.
Competitive Landscape and North America 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, North america 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
Key players operating in the internal neuromodulation devices market include:
- Medtronic (Ireland)
- Boston Scientific Corporation (U.S.)
- NEVRO CORP (U.S.)
- Cyberonics, Inc. (U.S.)
- Inspire Medical Systems, Inc. (U.S.)
- ALEVA NEUROTHERAPEUTICS (Switzerland)
- Bioventus (U.S.)
- ReShape Lifesciences, Inc. (U.S.)
- LivaNova PLC (U.K.)
- NeuroPace, Inc. (U.S.)
- Synapse Biomedical Inc.. (U.S.)
- Accellent Technologies, Inc. (U.S.)
- Abbott (U.S.)
- Soterix Medical Inc. (U.S.),
- Integer Holdings Corporation (U.S.)
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