Neuromodulation Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Dec 2019
  • Pages: 167
  • SKU: IRTNTR40310

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The global neuromodulation market has the potential to grow by USD 5.2 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by product (implantable neuromodulation devices and external neuromodulation devices) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Abbott Laboratories, Boston Scientific Corp., LivaNova Plc, Medtronic Plc, NeuroMetrix Inc., Neuronetics Inc., Nevro Corp., Nuvectra Co., OMRON Corp., and Zynex Inc.

Market Overview


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Market Competitive Analysis

The neuromodulation market is currently concentrated, and the degree of concentration will remain the same during the forecast period. Market vendors are increasingly focusing on strategic collaborations and acquisitions to acquire new technologies, expand their product portfolios, and increase their market presence. Abbott Laboratories, Boston Scientific Corp., and LivaNova Plc are some of the major market participants. Although technological advances will offer immense business opportunities, the high cost of devices and procedures will challenge the growth of the market participants. To increase their neuromodulation market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this neuromodulation market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this neuromodulation market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading neuromodulation companies, including:

  • Abbott Laboratories
  • Boston Scientific Corp.
  • LivaNova Plc
  • Medtronic Plc
  • NeuroMetrix Inc.
  • Neuronetics Inc.
  • Nevro Corp.
  • Nuvectra Co.
  • OMRON Corp.
  • Zynex Inc.

Neuromodulation Market: Segmentation by Region


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North America was the largest market for neuromodulation in 2019, and the region will continue to offer the maximum growth opportunities to market vendors during the forecast period. The adoption of advanced neuromodulation devices, high prevalence of neurological disorders, a strong presence of leading vendors, and favorable reimbursement policies are some of the significant factors contributing to the neuromodulation market growth in this region.

Almost 46% of the market’s growth will originate from North America during the forecast period. The US is a key market for neuromodulation in North America. However, market growth in this region will be slower than the growth of the market in other geographies.

Neuromodulation Market: Segmentation by Product


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Implantable neuromodulation devices are used to electrically stimulate specific parts of the peripheral nerves, spinal cord, or brain to treat pain or other disorders of the CNS. Technological advances and new product launches are a few of the significant factors driving the growth of the neuromodulation market in this segment.

Market growth by the implantable neuromodulation devices will be faster than the growth of the market by the external neuromodulation devices segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the neuromodulation market size.

Neuromodulation Market: Key Drivers and Trends

Neuromodulation devices have undergone significant technological advances in terms of battery longevity and miniaturization of implantable neuromodulation devices. These advances include improvements in circuitry and battery, device software and programming, implantation techniques, and introduction of rechargeable batteries. For instance, Proclaim XR recharge-free neuromodulation system developed by Abbott Laboratories offers low doses of SCS, which help in significantly extending the system’s battery life. The development of MRI-conditional implantable neuromodulation devices will also allow patients to undergo MRI imaging examinations without causing any damage or changes to the settings of the devices. Such technological advances and product launches are expected to enhance the reliability and effectiveness of neuromodulation devices and consequently fuel their demand during the forecast period.

  • The acceptance and regulatory approval of new indications is increasing, which is one of the critical neuromodulation market trends.
  • Several neuromodulation devices have either received approval or undergoing clinical trials for the treatment of various new indications, including Alzheimer’s, heart failure, stroke recovery, diabetic neuropathy, migraine headaches, hypertension, respiratory insufficiency, and gastrointestinal disorders.
  • The feasibility and efficacy of DBS therapy to treat various new neurologic and neuropsychiatric disorders is under investigation.
  • Endoscopy-based temporary GES has also shown promising results in improving the total symptom scores in non-delayed gastric emptying and delayed gastric emptying patients.
  • Moreover, PNS therapy has emerged as a potential treatment for chronic headaches and post-amputation phantom limb pain.
  • During 2020-2024, the neuromodulation market will grow at a CAGR of over 11%.


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Neuromodulation Market: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will accelerate the growth of the neuromodulation devices market during the next five years
  • Precise estimation of the global neuromodulation market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the neuromodulation industry across Asia, Europe, North America, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of neuromodulation vendors

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  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$


  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis
  • Value chain analysis


  • Market definition
  • Market sizing 2019
  • Market Outlook
  • Market size and forecast 2019-2024


  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition


  • Market segmentation by product
  • Comparison by product
  • Implantable neuromodulation devices - Market size and forecast 2019-2024
  • External neuromodulation devices - Market size and forecast 2019-2024
  • Market opportunity by product



  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • Asia - Market size and forecast 2019-2024
  • ROW - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity



  • Market drivers
  • Market challenges


  • Improving reimbursement policies
  • Strategic collaborations and acquisitions
  • Expanding indications


  • Overview
  • Landscape disruption
  • Competitive scenario


  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Abbott Laboratories
  • Boston Scientific Corp.
  • LivaNova Plc
  • Medtronic Plc
  • NeuroMetrix Inc.
  • Neuronetics Inc.
  • Nevro Corp.
  • Nuvectra Co.
  • OMRON Corp.
  • Zynex Inc.


  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors


Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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