Neuromodulation Market Size, Share & Trends Analysis – Global Opportunity Analysis And Industry Forecast 2030, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Rapid Prototyping Materials market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Rapid Prototyping Materials market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global neuromodulation market size was US$ 2636.4 million in 2021. The global neuromodulation market size is forecast to reach US$ 4,442.50 million by 2030, growing at a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2022 to 2030.
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Neurological disorders include disorders affecting the brain and nerves throughout the human body and the spinal cord. Neurological disorders include acute spinal cord injury, Alzheimer’s disease, amyotrophic lateral sclerosis (ALS), ataxia, bell’s palsy, brain tumors, cerebral aneurysms, epilepsy, and seizures. A variety of symptoms result from biochemical, structural, or electrical abnormalities in the brain, spinal cord, or other nerves, including memory loss, poor mental ability, inability to coordinate, and constant or sudden headaches. Neuromodulation technology uses either stimulation or modulation of brain activity to bring about a change in the nervous system.
Factors Influencing Market Growth
- The growing prevalence of neurological disorders such as Alzheimer’s disease, dementia, strokes, and brain tumors is driving the global neuromodulation market.
- The increase in the prevalence of brain disorders and the increased adoption of neuromodulation devices in developed countries drive the global market.
- The advancement of neuromodulation devices and the approval of new products by the Food and Drug Administration (FDA) are forecast to fuel the global market growth.
- The high cost of equipment and lack of awareness about neuromodulation devices may slow down the overall market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market growth. The spread of COVID-19 caused severe public health concerns. Hospitals and clinics worldwide were reforming to provide better healthcare and increase hospital capacity. According to Livanova, a medical technology firm, reports a decrease in neuromodulation sales due to a decline in both new patient and service implant procedures. In addition, many countries implemented lockdown protocols in order to contain the spread of the novel coronavirus. In order to treat patients with COVID-19, healthcare resources had diverted from elective procedures. The delay and the subsequent public health measures throughout 2020 contributed significantly to a decline in the number of neurosurgeries performed.
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Regional Insights
North America accounted for a large share of the global neuromodulation market in 2021 and is forecast to retain its lead throughout the forecast period. As a result of the growing prevalence of neurological diseases, the presence of major players for the development of neuromodulation devices, and well-established infrastructure in the region.
The Asia Pacific is forecast to experience lucrative growth in the neuromodulation industry. A growing number of hospitals, an increase in epilepsy cases, and an aging population contribute to the growth of the market in the region.
Leading Competitors
The leading prominent companies profiled in the global neuromodulation market are:
- LivaNova PLC
- Nevro Corporation
- Medtronic
- NeuroSigma
- Neuronetics
- Bioventus Incorporated
- NeuroPace Incorporated
- MicroTransponder
- Boston Scientific Corporation
- Abbott
- Other Prominent Players
Scope of the Report
The global neuromodulation market segmentation focuses on Technology, Application, Biomaterial, and Region.
Segmentation based on Technology
- Internal Neuromodulation
- External Neuromodulation
Segmentation based on Application
- Chronic Pain
- Urinary And Fecal Incontinence
- Migraine
- Failed Back Syndrome
- Parkinson Disease
- Epilepsy
- Tremor
- Depression
- Other Applications
Segmentation based on Biomaterial
- Metallic Biomaterials
- Polymeric Biomaterials
- Ceramic Biomaterials
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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