The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s internal neuromodulation devices market report forecasts the internal neuromodulation devices market size to grow to $17.92 Billion by 2027, with a CAGR (compound annual growth rate) of more than 15%.

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Internal Neuromodulation Devices Market Size Forecast
The global internal neuromodulation devices market is expected to grow from $8.55 billion in 2022 to $10.02 billion in 2023 at a compound annual growth rate (CAGR) of 17.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global internal neuromodulation devices market size is expected to reach $17.92 billion in 2027 at a CAGR of 15.6%.

North America held the largest internal neuromodulation devices market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Internal Neuromodulation Devices Market Driver ­– Increase In The Incidence Of Neurologic Diseases
According to the Centres for Disease Control and Prevention, a US-based government agency, Alzheimer’s disease would afflict an estimated 5.8 million Americans aged 65 and older in May 2020. By 2060, this figure is predicted to nearly treble to 14 million. Furthermore, after the age of 65, the number of persons living with the condition doubles every five years. As a result, the rising prevalence of neurologic illnesses is propelling the internal neuromodulation devices market forward.

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Key Internal Neuromodulation Devices Market Trend – Innovative Technologies
To maintain their market position, major players in the internal neuromodulation devices industry are focusing on creating new technology. For example, in March 2023, Neuromod Device Ltd., an Ireland-based medical equipment manufacturer, stated that the US Food and Drug Administration (FDA) had awarded De Novo clearance to their Lenire® system. Tinnitus, a neurological disease characterised by ringing in the ears, is treated with the Lenire® device, which combines sound stimulation and tongue stimulation. The Lenire system employs a two-pronged neurostimulation strategy. Bluetooth headphones emit distinct sounds that are meant to stimulate the auditory nerve, whereas Neuromod’s Tonguetip gadget is put into the mouth and delivers mild electrical stimulation to the surface of the tongue. Because the otolaryngologist now has access to cutting-edge Lenire technology, he or she can recommend it to patients whose tinnitus is having a relatively unfavourable influence on their lives.

Internal Neuromodulation Devices Market Segment
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

Internal Neuromodulation Devices Market Major Players and Strategies
Major players in the internal neuromodulation devices market are Medtronic PLC, Boston Scientific Corporation, Cyberonics Inc., BioControl Medical, Aleva Neurotherapeutics SA, Bioness Inc., Uroplasty Inc., Abbott Laboratories, St. Jude Medical Inc., EnteroMedics Inc., Micron Medical Corporation, LivaNova PLC, NeuroPace Inc., Synapse Biomedical Inc., Soterix Medical Inc., Accellent Inc., Neuros Medical Inc., and Nevro Corp.

Electromedical Products International (EPI), a medical equipment manufacturer based in the United States, acquired Pulvinar Neuro for an unknown sum in March 2022. Pulvinar is now better positioned to promote the development and promotion of its patented solutions, such as transcranial alternating current stimulation (tACS). The company will also improve its cloud-enabled digital treatments for mental and neurological problems, as well as its customised feedback stimulation. Pulvinar Neuro is a medical technology business based in the United States that has created a deep brain stimulation (DBS) system for the treatment of neurological and mental problems.

The Internal Neuromodulation Devices Global Market Report 2023 covers regional data on internal neuromodulation devices market size, internal neuromodulation devices market trends and drivers, opportunities, strategies, and internal neuromodulation devices market competitor analysis. The countries covered in the internal neuromodulation devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Internal neuromodulation devices are medical devices that are implanted inside the body to stimulate particular parts of the nervous system with electrical stimulation. These devices are used to treat a variety of neurological and mental problems, and they can provide great relief to patients.

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