According to a new market research report "Neuromodulation Market by Technology (Deep Brain Stimulation, Spinal Cord Stimulation, Transcranial Magnetic Stimulation), Application (Depression, Parkinson''s, Tinnitus, Alzheimer''s, Epilepsy, Ischemia, Obesity) Trends & Global Forecast to 2020", published by MarketsandMarkets, 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.
Factors such as rising geriatric population, increasing prevalence of neurological diseases, strong product pipeline offered by players, and expanded target applications and new indications are driving the growth of this market. However, factors such as unfavorable reimbursement scenario and lack of trained professionals are hindering its market growth.
This report studies the global Neuromodulation Market from 2015 to 2020. The global Neuromodulation Market is segmented on the basis of technology, application, and region.
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Based on technology, the Neuromodulation Market is segmented into internal neuromodulation 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).
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).
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On the basis of region, the market is divided into North America, Europe, Asia-Pacific, and rest of the world (RoW). The rest of the world region comprises Latin America, the Middle East, and Africa. North America is expected to account for the largest share of the neuromodulation market, followed by Europe, Asia-Pacific, and rest of the world (RoW) in 2015.
Some of the major players in the global Neuromodulation 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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