Top Growth Trends in the Neuromodulation Market: Insights into Market Size and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theNeuromodulation Market?
The neuromodulation market’s expansion is anticipated to be driven by the increasing incidence of neurological disorders. These disorders primarily impact the brain, nerves spread across the body, and the spinal cord. Neuromodulation offers potential treatments for numerous neurological conditions and diseases, including Parkinson’s and Alzheimer’s diseases. For example, the European Brain Council, a Belgium-based international health organization, reported in April 2022 that there were over 600 neurological diseases and around 300 psychiatric conditions. Globally, 50 million people were living with Alzheimer’s and other forms of dementia. Epilepsy, another widespread disorder, impacted 65 million individuals globally. In Europe, dementia was seen in 10.5 million individuals, projected to rise to 18.7 million by 2050. Therefore, the increasing incidence of neurological disorders is fueling the growth of the neuromodulation market.
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What is the Predicted Annual Growth Rate of theNeuromodulation Market Impact Industry Trends by 2034?
The scale of the neuromodulation market has rapidly expanded in the past few years. The market is set to escalate from $6.96 billion in 2024 to $7.68 billion in 2025, with a projected compound annual growth rate (CAGR) of 10.3%. Factors such as an increased occurrence of chronic diseases, reliable clinical data and research, patients’ preference for non-intrusive treatments, government schemes and financial assistance, extension of indications, and collaborative endeavors and partnerships have all contributed to the remarkable growth experienced in the historic period.
It’s projected that the neuromodulation market will experience substantial expansion in the coming years. The market is set to inflate to “$11.79 billion in 2029 with a compound annual growth rate (CAGR) of 11.3%. This projected growth within the forecast period can be associated with the reduction in size of devices, focus on neurological diseases in the elderly population, increased use in psychiatry, patient-oriented strategies, and a broader international access to healthcare. Future trends within the forecasted period comprise the incorporation of artificial intelligence (ai), technological advancements, non-invasive neuromodulation methods, closed-loop neuromodulation systems, expansion in usage, wearable and wireless neuromodulation devices.
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What Are the Current Market Growth and Trends in theNeuromodulation Market That Industry Players Should Watch?
A prominent emerging trend in the neuromodulation market is the focus on technological innovation. Leading companies in this space are determined to forge ahead by creating cutting-edge technological alternatives. Take for instance, GrayMatters Health, a leading entity from Israel that specialises in digital self-neuromodulation therapies, rolled out its groundbreaking FDA-approved self-neuromodulation therapy device named Prism in January 2024 to combat PTSD. This revolutionary tool that pairs an EEG cap with exclusive software, teaches patients how to regulate their emotional reactions via neurofeedback. The technology aims to supplement traditional psychotherapy and pharmacotherapy, empowering patients with the necessary mechanisms to actively control their symptoms. Additionally, in December 2022, Abbott Laboratories, an American medical devices and healthcare leader, unveiled the Eterna spinal cord stimulation (SCS) system, recognized as the smallest rechargeable, implantable spinal cord stimulator. Abbott’s Eterna SCS uses the company’s proprietary low-dose BurstDR stimulation, which is the only SCS waveform innovation supported by the highest level of clinical evidence (1A), proven to alleviate pain by an extraordinary 23% more than typical waveform technology strategies.
What Are the Major Market Players Making an Impact on theNeuromodulation Market Growth?
Major companies operating in the neuromodulation market include Abbott Laboratories, Soterix Medical Inc., Boston Scientific Corporation, Medtronic plc, Synapse Biomedical Inc., Nevro Corp, Neuropace Inc., LivaNova PLC, Neurosigma Inc., Neuronetics Inc., Bioness Inc., Aleva Neurotherapeutics S.A., Integer Holdings Corporation, ReShape Lifesciences Inc., Inspire Medical Systems Inc., Bioventus LLC, Saluda Medical Pty Ltd, Otolith Labs Inc., Machine Medicine Inc., Inbrain Neuroelectronics SAS, Pixium Vision SA, Neuromod Devices Limited, Cognito Therapeutics Inc., PathMaker Neurosystems Inc., Dignify Therapeutics Inc., Neuronoff ApS, Neuros Medical Inc., Fisher & Paykel Healthcare Corporation Limited, Koninklijke Philips N.V., Magic Leap Inc., Omron Corporation
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How Are the Key Segments of the Neuromodulation Market Driving Opportunities and Innovations?
The neuromodulation market covered in this report is segmented –
1) By Technology: Internal Neuromodulation, External Neuromodulation (Non-invasive)
2) By Biomaterial: Polymeric Biomaterial, Metallic Biomaterial, Ceramic Biomaterial
3) By Application: Chronic Pain, Urinary And Fecal Incontinence, Migraine, Failed Back Syndrome, Parkinson Disease, Epilepsy, Tremor, Depression, Other Applications
4) By End-User: Hospitals, Clinics, Home Healthcare
Subsegments:
1) By Internal Neuromodulation: Implantable Devices, Intrathecal Drug Delivery Systems
2) By External Neuromodulation (Non-invasive): Transcranial Magnetic Stimulation (TMS), Transcranial Direct Current Stimulation (tDCS), Transcutaneous Electrical Nerve Stimulation (TENS), Peripheral Nerve Stimulation (PNS)
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What Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theNeuromodulation Market?# Market Expansion?
North America was the largest region in the neuromodulation market in 2024. The regions covered in the neuromodulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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