Analyzing the Future of Internal Neuromodulation Devices Market Dynamics 2025-2034: Growth Rate, Trends, and Major Opportunities
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What is the Future CAGR of the Internal Neuromodulation Devices Market, and How Will It Impact Industry Expansion?
The market size for internal neuromodulation devices has witnessed robust expansion in the recent past. The prediction is that it will expand from $2.59 billion in 2024 to $2.77 billion in 2025, growing at a compound annual growth rate (CAGR) of 6.8%. Factors contributing to this upward trend during the historic period are the management of chronic pain, the rising aging population, advancements in clinical research and trials, an increase in neurological disorders, and enhanced patient awareness and acceptance.
The market size for internal neuromodulation devices is projected to experience significant expansion in the upcoming years, growing to a value of $3.94 billion in 2029, boasting a compound annual growth rate (CAGR) of 9.2%. This predicted growth during the forecast period can be linked to a number of contributing factors such as the development of personal medicine trends, an increase in healthcare spending, collaborations and partnerships, enhanced patient results and real-world proof, and shifts in the regulatory landscape. Key trends to be observed during the forecast period encompass the miniaturization and application of implantable technology, the advent of wireless connectivity and remote monitoring, a broadened scope for neuromodulation applications, the implementation of closed-loop systems for accurate modulation, and a consumer-focused design approach.
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the internal neuromodulation devices Market?
The surge in neurological disease cases is forecasted to spur internal neuromodulation devices market’s development. Neurological diseases encompass a wide range of conditions impacting the nervous system, including the brain, spinal cord, and nerves across the body. Internal neuromodulation devices, which are medical devices used to treat neurological and psychiatric disorders, work by sending electrical stimulation to specific regions of the nervous system. They can alleviate symptoms like chronic pain, movement disorders, and mood disorders, thereby enhancing patients’ quality of life by lessening symptoms and enabling them to engage in daily activities more effortlessly. For example, the US-based National Library of Medicine stated in April 2023 that as many as 6.7 million Americans were living with Alzheimer’s in 2023, a figure set to increase to 13.8 million by 2060. Similarly, as per reports from the House of Lords Library, a UK-based information services firm, as of January 31, 2022, the neurology workforce in England had 1,638 full-time equivalent staff, rising from 1,562 in 2021 and 1,468 in 2020. Consequently, the growing incidence of neurological diseases is fueling the internal neuromodulation devices market’s expansion.
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What Are the Top Market Players Propelling the Growth of the Internal Neuromodulation Devices Industry?
Major companies operating in the internal neuromodulation devices market include:
• Medtronic plc_x000D_
• Boston Scientific Corporation_x000D_
• BioControl Medical Ltd._x000D_
• Aleva Neurotherapeutics SA_x000D_
• Bioness Inc._x000D_
What Are the Key Trends to Watch in the Internal Neuromodulation Devices Market Over the Coming Years?
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Which Key Segments Define the Structure of the Internal Neuromodulation Devices Market and Their Growth Potential?
The internal neuromodulation devices market covered in this report is segmented –
1) By Type: Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Gastric Neuro Stimulator
2) By Technology Type: Internal Neuromodulation, External Neuromodulation
3) By Biomaterial: Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials
4) By Application: Failed Back Surgery Syndrome, Parkinson’s Disease, Urinary Incontinence, Epilepsy, Gastroparesis
5) By End-User: Hospitals, Clinics, Home Healthcare, Community Healthcare
Subsegments:
1) By Spinal Cord Stimulator: Traditional Spinal Cord Stimulator, Rechargeable Spinal Cord Stimulator, Non-Rechargeable Spinal Cord Stimulator
2) By Deep Brain Stimulator: Single Lead Deep Brain Stimulator, Dual Lead Deep Brain Stimulator, Adaptive Deep Brain Stimulator
3) By Sacral Nerve Stimulator: Implantable Sacral Nerve Stimulator, External Sacral Nerve Stimulator
4) By Vagus Nerve Stimulator: Implantable Vagus Nerve Stimulator, Transcutaneous Vagus Nerve Stimulator
5) By Gastric Neuro Stimulator: Implantable Gastric Neuro Stimulator, External Gastric Neuro Stimulator
What Regions Are Dominating the Internal Neuromodulation Devices Market Growth?
North America was the largest region in the internal neuromodulation devices market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global internal neuromodulation devices market report during the forecast period. The regions covered in the internal neuromodulation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Defining Aspects of the Internal Neuromodulation Devices Market Landscape?
Internal neuromodulation devices refer to a type of medical devices that are implanted inside the body to provide electrical stimulation to specific areas of the nervous system. These devices are used to treat various neurological and psychiatric conditions and can significantly relieve patients.
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