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 neuromodulation market report forecasts the neuromodulation market size to grow to $9.62 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

Learn More On The Neuromodulation Market Report 2023 – https://www.thebusinessresearchcompany.com/report/neuromodulation-global-market-report

Neuromodulation Market Size Forecast
The global neuromodulation market is expected to grow from $5.78 billion in 2022 to $6.43 billion in 2023 at a compound annual growth rate (CAGR) of 11.2%. 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 neuromodulation market size is expected to reach $9.62 billion in 2027 at a CAGR of 10.6%.

North America held the largest neuromodulation market share.

Key Neuromodulation Market Driver ­– Growth In The Prevalence Of Neurological Disorders
According to the European Brain Council, a Belgium-based coordinating international health organisation, there were over 600 neurological disorders and approximately 300 psychiatric conditions recorded in April 2022. Alzheimer’s and other dementias affected 50 million people worldwide. Epilepsy is a widespread illness that affects 65 million individuals worldwide. In Europe, 10.5 million people suffered from dementia, a figure that is anticipated to rise to 18.7 million by 2050. As a result, the increased prevalence of neurological illnesses is propelling the neuromodulation industry forward.

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Key Neuromodulation Market Trend – Technological Advancement
Major players in the neuromodulation market are focusing on developing new technical solutions to increase their market position. For example, Abbott, a US-based medical device and healthcare business, will debut the Eterna spinal cord stimulation (SCS) system in December 2022, the smallest implantable, rechargeable spinal cord stimulator. Eterna SCS uses Abbott’s patented low-dose BurstDR stimulation, the only SCS waveform innovation with the highest level of clinical proof (1A evidence), which has been demonstrated to reduce pain by 23% more than conventional waveform technology techniques. Furthermore, Abbott, a medical devices and healthcare company based in the United States, announced the launch of NeuroSphere Virtual Clinic in the United States in March 2021, a first-of-its-kind technology that allows patients to speak with clinicians, confirm optimal settings and efficiency, and obtain new treatment options as needed remotely. The FDA-approved NeuroSphere Virtual Clinic has the potential to increase the availability of optimal treatment for patients suffering from chronic pain or Parkinson’s disease who do not live close to a healthcare professional, have difficulty accessing care, or are unable to go to the doctor due to circumstances such as COVID-19.

Neuromodulation Market Segment
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

Neuromodulation Market Major Players and Strategies
Major players in the neuromodulation market are Abbott Laboratories, Soterix Medical, Boston Scientific Corporation, Medtronic Plc., Synapse Biomedical Inc., Nevro Corporation, Neuropace Inc., LivaNova Plc., Neurosigma Inc., Neuronetics Inc., Bioness Inc., Aleva Neurotherapeutics SA, Integer Holdings Corporation, ReShape Lifesciences Inc., and Inspire Medical Systems Inc.

Electromedical Products International Inc (EPI), a medical device manufacturing firm based in the United States, acquired Pulvinar Neuro LLC for an unknown sum in March 2022. The acquisition allows EPI to accelerate the development and commercialization of its patented technologies, such as transcranial alternating current stimulation (tACS), as well as improve its individualised feedback stimulation and cloud-enabled digital therapeutics for psychiatric and neurological illnesses. Pulvinar Neuro is a neurotechnology business established in the United States that uses cutting-edge technology to help neuroscience research.

The Neuromodulation Global Market Report 2023 covers regional data on neuromodulation market size, neuromodulation market trends and drivers, opportunities, strategies, and neuromodulation market competitor analysis. The countries covered in the neuromodulation 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 and external neuromodulation (non-invasive) are the two basic technologies used in neuromodulation. Internal neuromodulation is the process of implanting an electrode near a target nerve and passing a low-voltage electric current through it. Polymeric biomaterials, metallic biomaterials, and ceramic biomaterials are among the biomaterials used by hospitals, clinics, and home healthcare to treat chronic pain, urinary and faecal incontinence, migraine, failed back syndrome, Parkinson’s disease, epilepsy, tremor, depression, and other conditions.

View More Reports Related To The Neuromodulation Market –
Neurodegenerative Disorder Therapeutics Global Market Report 2023
Neurostimulation Devices Global Market Report 2023
Neurosurgery Devices And Equipment Global Market Report 2023

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