Neuromodulation Devices Market Share, Size, forecast 2022

1
MRFR Projects a Steady Growth in Worldwide Sales
of Neuromodulation Devices Over the Next Nine
Years In 2017, sales of neuromodulation devices
remained on the upside and a similar trend is
likely to follow in 2018. Neuromodulation has
gained significant traction over the past couple
of years, which has reflected favourably on the
Global Neuromodulation Devices Market. These
devices are also finding applications in
minimally invasive surgeries and several
neuromodulation therapies. The recent study
conducted by Market Research Future (MRFR) claims
that global neuromodulation devices sales will
remain steady over the next nine
years. Neuromodulation is increasingly being used
in healthcare to leverage the power of electrical
impulses for therapeutic benefits. While several
new areas of use have emerged in recent years,
deep brain stimulation (DBS) remains the primary
healthcare application of neuromodulation. DBS is
a therapeutic technique focused towards resolving
chronic and intractable pain. Such pains are
quite common among the elderly population the
latest data resealed by United Nations suggest
that the number of older persons those aged 60
years or above is expected to more than double
by 2050. The rising number and proportion of
elderly people is almost all the countries in the
world is creating diverse healthcare
requirements. This, in turn, is expected to
support the growth of the global market for
neuromodulation impact factor in the forthcoming
years. Other factors that are expected to have a
positive impact on the market include increasing
incidence of neurological disorder, advances in
technology, device miniaturization and arrival of
new neuromodulation devices. Moreover, faster
approval rate of new neuromodulation technologies
is encouraging players to concentrate on their
RD pipelines. However, new entrants will have to
overcome formidable challenges in order to
compete with established players who collectively
account for a controlling stake of the market.
Mergers and acquisitions are expected to remain a
key trend in the industry as big players focus on
expansion and local vendors try to leverage the
know-hows of industry leaders. Offering new and
novel solutions will be key to achieving a
competitive edge in the market. Global
neuromodulation device companies are Medtronic
(Ireland), St. Jude Medical, Inc. (U.S.), Nevro
Corp (U.S.), NeuroSigma, Inc.(U.S.), Neuronetics,
Inc. (U.S.), BioControl Medical (Israel), DynaMD,
Accellent (U.S), Synapse Biomedical Inc. (U.S.),
Boston Scientific Corporation (U.S.), NeuroPace,
Inc. (U.S.), and Soterix Medical Inc. (U.S) are
some of key market participants profiled in
MRFRs report. Global Neuromodulation Devices
Market Segmental Analysis Based on type, the
market has been segmented into time domain and
spectral domain. Based on techniques, the market
has been segmented into doppler neuromodulation
devices, polarization-sensitive neuromodulation
devices, and adaptive optics neuromodulation
devices. Based on applications the market has
been segmented into eyes imaging and diabetic
retinopathy. Regional Outlook Among regions,
North America currently accounts for a noteworthy
share of the market and expected to present
lucrative growth opportunities for players in
2018 and beyond. Presence of leading healthcare
technology companies in the region is major
advantage for the market in North America. In
addition, high healthcare expenditure and
awareness about availability of advanced medical
treatment modules is propelling the growth of the
market in the region. North America is followed
by Europe and Asia Pacific (APAC)
respectively. Industry Trends and News
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• Medtronic plc recently announced that the company
  has been shown a green signal by the U.S. FDA in
  its pursue of introducing a new spine surgery
  indication Infuse Bone Graft. After the FDA
  clearance, the company can now use the technology
  during additional spine implants procedures such
  as anterior lumbar interbody fusion (ALIF) and
  oblique lateral interbody fusion (OLIF 25(TM) and
  OLIF 51(TM)).
• Synapse Biomedical, the manufacturer of the NeuRx
  Diaphragm Pacing System and a specialist in
  neurostimulation recently announced the it
  receive the CE Mark approval for its new
  temporary diaphragm stimulator TransAeris
  System.
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