How the Internal Neuromodulation Devices Market Will Grow: Key Trends, Market Size, and Opportunities Beyond 2025
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Major Innovations Are Driving the Accelerated Growth of the Internal Neuromodulation Devices Market?
The projected growth of the internal neuromodulation devices market is linked to the increasing occurrence of neurologic diseases. These diseases, which span a wide spectrum, disrupt the normal functioning of the nervous system, impacting the brain, spinal cord, and body nerves. Internal neuromodulation devices are utilized in the medical field to manage neurological and psychiatric disorders by transmitting electrical signals to specific regions of the nervous system. By doing so, it’s possible to alleviate symptoms such as chronic pain, motion disorders, and emotional disorders, thereby enhancing the patients’ quality of life through symptom reduction and easier daily activities. For example, the US-based National Library Medicine noted in April 2023 that 6.7 million Americans were living with Alzheimer’s disease in the same year, and this figure is expected to swell to 13.8 million by 2060. Similarly, the House of Lords Library, a UK-based informational services firm, reported in May 2022 that the neurology workforce in England had 1,638 full-time staff members as of January 31, 2022. This reflects a rise from 1,562 in 2021 and 1,468 in 2020. As a result, the escalating occurrence of neurologic diseases is propelling the demand and growth of the internal neuromodulation devices market.
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#What Long-Term Growth Rate is Expected for theInternal Neuromodulation Devices Market Between 2025 and 2034?
The market size for internal neuromodulation devices has seen significant growth in the past few years. It is projected to expand from $2.59 billion in 2024 to reach $2.77 billion in 2025, showing a compound annual growth rate (CAGR) of 6.8%. This growth in the historical term can be ascribed to factors such as chronic pain management, an aging population, ongoing clinical research and trials, prevalent neurological disorders, and increased patient awareness and acceptance.
The market for internal neuromodulation devices is projected to witness substantial expansion in the upcoming years, reaching a valuation of “$3.94 billion by 2029 with a compound annual growth rate (CAGR) of 9.2%. This anticipated growth during the forecast period can be credited to factors such as the trend towards personalized medicine, an increase in healthcare spending, alliances and partnerships, favorable patient outcomes and empirically-based evidence, as well as changes in regulatory environment. The forecast period is likely to see trends such as downsizing and implantable advances, wireless connections and remote surveillance, broader uses for neuromodulation, precision modulation via closed-loop systems, and an emphasis on patient-focused design.
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What Are the Most Significant Market Trends Transforming theInternal Neuromodulation Devices Market?
Product advancements are a prominent pattern gathering steam in the internal neuromodulation devices arena. Major entities in the sector are concentrating on creating novel technologies to maintain their market stance. For instance, in March 2023, Neuromod Device Ltd., a medical device producer based in Ireland, disclosed receiving De Novo clearance from the US Food and Drug Administration (FDA) for its Lenire system. This system utilizes a mix of auditory stimulation and tongue stimulation to combat tinnitus, a neurological condition marked by ear ringing. The Lenire system boasts a two-fold neurostimulation approach. Innovative sounds, intended to trigger the auditory nerve, play through Bluetooth headphones, while Neuromod’s Tonguetip gadget, when placed in the mouth, delivers slight electrical stimulation to the tongue’s surface. With their newfound access to the pioneering Lenire technology, otolaryngologists can now suggest it for patients whose lives are being moderately to severely affected by tinnitus.
What Are the Top Market Players Propelling the Growth of theInternal Neuromodulation Devices Industry?
Major companies operating in the internal neuromodulation devices market include Medtronic plc, Boston Scientific Corporation, BioControl Medical Ltd., Aleva Neurotherapeutics SA, Bioness Inc., Uroplasty Inc., Abbott Laboratories, EnteroMedics Inc., LivaNova plc, NeuroPace Inc., Synapse Biomedical Inc., Soterix Medical Inc., Neuros Medical Inc., Nevro Corp., Nuvectra Corporation, Stimwave Technologies Incorporated, SPR Therapeutics, Axonics Modulation Technologies Inc., Saluda Medical Pty Limited, MicroTransponder Inc., EndoStim Inc., NeuroMetrix Inc., Second Sight Medical Products Inc., Neurotech International Limited, Neuronix Ltd., Neuronoff Inc.
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Which Primary Segments of the Internal Neuromodulation Devices Market Are Driving Growth and Industry Transformations?
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
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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Internal Neuromodulation Devices Market?# Market?
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.
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