Neuromodulation Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, Japan, China - Size and Forecast 2024-2028

Neuromodulation Market Size 2024-2028

The neuromodulation market size is forecast to increase by USD 6.21 billion, at a CAGR of 12.57% between 2023 and 2028.

• The market is experiencing significant growth, driven by the increasing geriatric population and rising funding for neurology research. The aging demographic is a key market driver, as neuromodulation technologies offer effective solutions for managing age-related neurological conditions, such as Parkinson's disease and epilepsy. Moreover, governments and private organizations are investing heavily in neurology research, leading to advancements in neuromodulation technologies and their applications. However, the market faces challenges, including the high cost of neuromodulation devices, which may limit their accessibility to patients.
• Additionally, the complex nature of these technologies necessitates specialized expertise for their implementation and maintenance, further increasing costs. Companies seeking to capitalize on market opportunities must focus on developing cost-effective solutions and expanding their reach to emerging markets. Furthermore, collaborations with healthcare providers and insurance companies can help offset the high costs and ensure wider access to these life-changing technologies.

What will be the Size of the Neuromodulation Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.  
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The market continues to evolve, driven by advancements in technology and expanding applications across various sectors. Clinical trials explore new therapeutic possibilities, with a focus on targeted drug delivery and closed-loop systems. Programmable devices and adaptive stimulation offer personalized treatment options, while healthcare professionals refine patient selection criteria. Peripheral nerve stimulation and electrode arrays are advancing, enabling more precise interventions for movement disorders such as essential tremor and Parkinson's disease. Sacral nerve stimulation and leads and wires are improving treatment for urinary incontinence and overactive bladder. Neuromodulation therapy, including spinal cord stimulation and implantable pulse generators, is gaining traction in pain management, offering relief for chronic pain and neuropathic conditions.

Machine learning and predictive modeling enhance data analytics, enabling better patient outcomes and market access. Regulatory approvals and implantation procedures continue to shape the landscape, with regulatory bodies closely monitoring safety and efficacy. Neurological disorders, such as Parkinson's disease and essential tremor, are major targets for innovation, while psychiatric disorders and chronic migraine also draw attention. Battery life and device longevity remain key considerations, as does the role of remote monitoring in optimizing treatment and improving quality of life. Ongoing research and development ensure the market remains a dynamic and evolving field.

How is this Neuromodulation Industry segmented?

The neuromodulation industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Product
  • Implantable neuromodulation devices
  • External neuromodulation devices
• End-user
  • Hospitals
  • ASCs
  • Others
• Biomaterial
  • Metallic Biomaterials
  • Polymeric Biomaterials
  • Ceramic Biomaterials
  • Metallic Biomaterials
  • Polymeric Biomaterials
  • Ceramic Biomaterials
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • Rest of World (ROW)

By Product Insights

The implantable neuromodulation devices segment is estimated to witness significant growth during the forecast period.

Implantable neuromodulation devices, which are programmable medical devices, play a significant role in treating various neurological disorders, including chronic pain, Parkinson's disease, and psychiatric disorders. These devices use electrical stimulation to target specific areas of the peripheral nerves, spinal cord, or brain. Six primary types of neuromodulation therapies are widely used: spinal cord stimulation (SCS), sacral nerve stimulation (SNS), deep brain stimulation (DBS), vagus nerve stimulation (VNS), gastric electrical stimulation (GES), and peripheral nerve stimulation (PNS). SCS, also known as dorsal column stimulation, is a neuromodulation technique used to treat chronic pain, particularly neuropathic and sympathetically-mediated pain. The therapy involves implanting a small spinal cord stimulator that delivers a low-voltage electrical current continuously to specific nerves, blocking pain signals from reaching the brain and replacing them with paresthesia.

SNS, another type of neuromodulation therapy, is used to treat conditions such as urinary incontinence and overactive bladder. It involves implanting a device that sends electrical impulses to the sacral nerves, which control the bladder and other pelvic organs. DBS is used to treat movement disorders, such as Parkinson's disease, essential tremor, and dystonia. The therapy involves implanting electrodes in specific areas of the brain and using a programmable device to deliver electrical impulses to modify abnormal brain activity. VNS, which involves implanting an electrode in the vagus nerve, is used to treat various conditions, including epilepsy, depression, and anxiety.

The therapy involves delivering electrical impulses to the vagus nerve, which sends signals to the brain to regulate various bodily functions. GES is used to treat gastrointestinal disorders, such as gastroparesis and irritable bowel syndrome. The therapy involves implanting a device that sends electrical impulses to the stomach to stimulate muscle contractions and improve digestion. PNS is used to treat various conditions, including chronic pain, urinary incontinence, and orthostatic hypotension. The therapy involves implanting electrodes along the affected nerve and using a programmable device to deliver electrical impulses to modify nerve activity. Neuromodulation therapy also involves surgical techniques, implantation procedures, regulatory approvals, clinical trials, and reimbursement models.

Healthcare systems, pain specialists, and neurological professionals play a crucial role in patient selection and treatment. Targeted drug delivery, closed-loop systems, adaptive stimulation, and machine learning are emerging trends in neuromodulation therapy. Data analytics, predictive modeling, and remote monitoring are essential for optimizing patient outcomes and improving quality of life. Battery life, device longevity, and adverse events are critical factors in market access and patient satisfaction.

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The Implantable neuromodulation devices segment was valued at USD 3.11 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America, which includes the US and Canada, holds a significant revenue share due to the increasing adoption of advanced neuromodulation technologies and the high prevalence of neurological disorders. Neurological conditions such as Parkinson's disease (PD) and Essential Tremor (ET) are common in the region, with approximately 50,000 new PD diagnoses and up to 10 million living with ET in the US each year. The geriatric population, more prone to neurological diseases, further fuels the market growth. Advanced surgical techniques, such as deep brain stimulation and spinal cord stimulation, are increasingly being used to treat various neurological disorders, including movement disorders and chronic pain.

Reimbursement models and regulatory approvals facilitate the widespread use of these procedures. Neuromodulation therapies, including peripheral nerve stimulation, sacral nerve stimulation, vagal nerve stimulation, and implantable pulse generators, offer effective treatment options for various conditions, from chronic migraine and overactive bladder to neuropathic pain and urinary incontinence. Machine learning and predictive modeling enable personalized treatment plans and improve patient outcomes. Healthcare systems, pain specialists, and neurologists collaborate to optimize patient selection and implantation procedures. Adaptive stimulation, closed-loop systems, and programmable devices enhance treatment efficacy while minimizing adverse events. Remote monitoring and data analytics facilitate continuous patient care and device optimization.

The market's future lies in targeted drug delivery, battery life, and device longevity improvements.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Neuromodulation Industry?

• The geriatric population's expansion is the primary factor fueling market growth. (Within the context of this prompt, maintaining a professional tone and adhering to the 100-word limit) 

• The market is experiencing significant growth due to the increasing prevalence of chronic conditions such as Parkinson's disease, chronic pain, chronic migraine, and psychiatric disorders. With an aging population, the number of individuals diagnosed with neurological disorders is rising, leading to a heightened demand for advanced diagnostic and treatment solutions. Neuromodulation techniques, including artificial intelligence, spinal cord stimulation, and surgical procedures, are becoming increasingly popular for managing chronic pain and other neurological conditions. Reimbursement models are evolving to accommodate these innovative treatments, providing healthcare systems with cost-effective solutions for managing complex neurological conditions.
• Implantation procedures for neurological devices are gaining regulatory approvals, further fueling market growth. As the market continues to expand, pain specialists and healthcare providers are embracing these advanced technologies to improve patient outcomes and quality of life.

What are the market trends shaping the Neuromodulation Industry?

• Neurology is an area of medicine experiencing significant growth, with increasing funding being allocated to this field. This trend reflects the growing importance of neurological research and treatment.

• Neurology research is experiencing substantial growth due to increased funding from government and healthcare organizations. In 2023, the Canadian government invested USD38.3 million in brain health research, while the National Institutes of Health's National Institute on Aging granted USD25 million for similar purposes in 2022. The National Institute of Health Research (NIHR) spent £1.2 billion (approximately USD1.6 billion) in 2021 on research and training related to neurological disorders, including a study utilizing MRI to assess brain oxygen levels. Neuromodulation, a therapeutic approach for treating neurological disorders, is a significant area of focus. Technological advancements include targeted drug delivery, closed-loop systems, and programmable devices.
• Healthcare professionals are employing peripheral nerve stimulation using electrode arrays and adaptive stimulation techniques, such as sacral nerve stimulation. Leads and wires are essential components of these systems, ensuring efficient and effective neuromodulation. Movement disorders, including Parkinson's disease and dystonia, are primary applications for neuromodulation therapy. This investment in research and development is crucial for advancing our understanding of neurological disorders and creating innovative treatments.

What challenges does the Neuromodulation Industry face during its growth?

• The high cost of neuromodulation devices poses a significant challenge to the industry's growth trajectory. Neuromodulation devices, which utilize electrical or magnetic stimulation to treat various medical conditions, have shown great promise in improving patient outcomes. However, their high cost represents a major barrier to wider adoption and accessibility, limiting the industry's potential for expansion. 

• Neuromodulation, a therapeutic approach utilizing electrical or magnetic stimulation to modify nerve activity, offers effective treatment for various conditions, including neuropathic pain, overactive bladder, and urinary incontinence. However, high device costs pose a significant challenge to market expansion. Neuromodulation devices, such as pulse generators for Deep Brain Stimulation (DBS) and Sacral Nerve Stimulation (SNS) systems, can cost over USD 20,000 for an initial implantation surgery. DBS surgery costs can reach up to USD 100,000 for bilateral procedures in the US. Vagal Nerve Stimulation (VNS) devices and lead implantations cost between USD 25,000 and USD 30,000.
• Post-operative maintenance, device adjustments, and battery replacements add to the overall expense. To mitigate these challenges, market access strategies, data analytics, predictive modeling, and patient outcome studies are essential. Understanding these factors can help stakeholders make informed decisions and optimize the value of neuromodulation treatments.

Exclusive Customer Landscape

The neuromodulation market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the neuromodulation market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, neuromodulation market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Abbott Laboratories - Neuromodulation, including neurostimulation devices, is a specialized area of medical technology for managing pain and neurological disorders. 

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Abbott Laboratories
• Axonics Inc.
• BioWave Ltd.
• Boston Scientific Corp.
• BrainsWay Ltd.
• Cognito Therapeutics
• electroCore Inc.
• Evren Technologies Inc.
• LivaNova PLC
• Medtronic Plc
• NeuroMetrix Inc.
• NEURONETICS Inc.
• Nevro Corp.
• OMRON Corp.
• PathMaker Neurosystems Inc.
• Saluda Medical Pty Ltd.
• ShiraTronics
• Theranica Bio Electronics Ltd.
• Thync Global Inc.
• Ziv HealthCare Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Neuromodulation Market

• In January 2024, Medtronic, a leading medical technology company, announced the FDA approval of its new spinal cord stimulation system, Intellis, for managing chronic pain (Medtronic Press Release, 2024). This advanced neuromodulation system uses Bluetooth technology for remote programming and real-time personalized therapy.
• In March 2024, Boston Scientific and Google's DeepMind collaborated to develop AI algorithms for analyzing electrophysiological data from implantable neuromodulation devices, aiming to improve therapy outcomes and patient care (Boston Scientific Press Release, 2024).
• In May 2024, Abbott secured FDA approval for its new neurostimulation system, Proclaim DRG Neurostimulation System, designed for the treatment of chronic pain in the dorsal root ganglion (Abbott Press Release, 2024). This innovative device offers personalized therapy and long-term battery life.
• In April 2025, NeuroPace, a neuromodulation company, raised USD100 million in a Series E funding round, led by New Enterprise Associates, to accelerate the development and commercialization of its closed-loop neurostimulation systems for epilepsy and movement disorders (NeuroPace Press Release, 2025). This significant investment will support the expansion of its clinical trials and regulatory approvals.

Research Analyst Overview

• The market encompasses various technologies, including electroencephalography (EEG), magnetoencephalography (MEG), transcranial magnetic stimulation (TMS), functional electrical stimulation (FES), brain-computer interfaces, and diagnostic imaging modalities such as fMRI. These technologies are transforming healthcare economics and health policy by offering innovative solutions for neurological disorders, cognitive enhancement, and even personalized medicine. Insurance coverage for neuromodulation therapies is a critical market trend, as stakeholders seek to optimize costs and improve patient outcomes. Longitudinal studies on the safety and efficacy of neural implants, stem cell therapy, and gene therapy are shaping healthcare economics, while device failure and revision surgery pose challenges requiring post-market surveillance and economic modeling.
• Neurological rehabilitation, precision medicine, and public health are key areas of application for neuromodulation technologies. Functional MRI, MEG, and EEG are increasingly used for diagnostic purposes, while TMS, FES, and brain-computer interfaces are revolutionizing therapeutic interventions. Safety and efficacy remain paramount in the market, with regulatory bodies emphasizing rigorous clinical trials and cost-benefit analysis. Drug-eluting implants and gene therapy are promising innovations, but their long-term safety and efficacy require further investigation. Patient registries and diagnostic imaging play a crucial role in monitoring the safety and efficacy of neuromodulation devices. Functional mRI, EEG, and MEG offer valuable insights into brain function, while TMS, FES, and brain-computer interfaces enable targeted interventions for various neurological conditions.
• In the realm of healthcare economics, neuromodulation technologies are poised to transform neurological rehabilitation, cognitive enhancement, and even global health. However, challenges such as device failure, implant removal, and economic modeling necessitate ongoing research and collaboration between industry, academia, and regulatory bodies.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Neuromodulation Market insights. See full methodology.

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What are the Key Data Covered in this Neuromodulation Market Research and Growth Report?

• CAGR of the Neuromodulation industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the neuromodulation market growth of industry companies

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