Neuromodulation Market Expecting a Revenue Growth worth $6.20 Billion by 2020

The report “Neuromodulation Market by Technology (Deep Brain Stimulation, Spinal Cord Stimulation, Transcranial Magnetic Stimulation), by Application (Depression, Parkinson’s, Tinnitus, Alzheimer’s, Epilepsy, Ischemia, Obesity) - Trends & Global Forecast to 2020”, this report studies the global neuromodulation market from 2015 to 2020. The global neuromodulation market is estimated at $3.65 Billion in 2015, and is projected to reach $6.20 Billion by 2020, at a CAGR of 11.2% during the forecast period.

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Neuromodulation is a technique that acts directly on nerves or the target area, where the activity of nerves is altered. These alterations are due to the effects produced by electrical stimulation or drug infusion. These devices include small electrodes, which are placed in the brain, spinal cord, or peripheral nerves, and are connected via leads to an implantable pulse generator placed under the skin to generate electrical stimulation in a precise pattern.

The global neuromodulation market is segmented on the basis of technology, application, and region.  Based on technology, the market is segmented into internal and external neuromodulation. Internal neuromodulation is further segmented into spinal cord stimulation (SCS), deep brain stimulation (DBS), vagus nerve stimulation (VNS), sacral nerve stimulation (SNS), and gastric electrical stimulation (GES). External neuromodulation is categorized into transcutaneous electrical nerve stimulation (TENS), transcranial magnetic stimulation (TMS), and respiratory electrical stimulation (RES). The spinal cord stimulation (SCS) segment is expected to have the largest share of the global internal neuromodulation market in 2015. On the other hand, the transcutaneous electrical nerve stimulation (TENS) segment is expected to register the largest share of the global external neuromodulation market in 2015.

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Based on application, the neuromodulation market is segmented into technology-wise applications such as spinal cord stimulation (chronic pain, failed back surgery, ischemia); deep brain stimulation (Parkinson's disease, tremor, depression, others), sacral nerve stimulation (urine incontinence, fecal incontinence), vagus nerve stimulation (epilepsy, others), gastric electrical stimulation (gastro paresis, obesity), transcutaneous electrical nerve stimulation (treatment resistant depression, others), and transcranial magnetic stimulation (depression, migraine headaches).

The key factors that are expected to spur the growth of this market include rising geriatric population, increasing prevalence of neurological diseases, strong product pipeline offered by players, and expanded target applications and new indications. Moreover, expansion in emerging economies is likely to create significant growth opportunities for players operating in the market. However, factors such as unfavorable reimbursement scenario and lack of trained professionals are likely to pose as deterrents hampering market growth.

On the basis of region, this market is classified into North America, Europe, Asia-Pacific, and rest of the world (RoW).

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The market is dominated by North America, followed by Europe, Asia-Pacific, and rest of the world (RoW). Asia-Pacific is expected to grow at the highest CAGR during the forecast period.

Some of the major players in the global market include Medtronic, Inc. (U.S.), Boston Scientific Corporation (U.S.), St. Jude Medical, Inc. (U.S.), Synapse Biomedical, Inc. (U.S.), Nevro Corporation (U.S.), Neurosigma, Inc. (U.S.), Neuropace, Inc. (U.S.), Neuronetics, Inc. (U.S.), Cyberonics, Inc. (U.S.), and BioControl Medical (Israel).

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