Neuromodulation Market Size by Technology, Application & Geography – Analysis & Forecast to 2027
Global Neuromodulation Market is valued approximately at USD 8.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13.1% over the forecast period 2020-2027.
As per the study of Global Burden of Disease 2015, the prevalence of Parkinson's diseases was reported to be around 6.2 million people worldwide and it would reach approximately 13 million people with Parkinson's by the year 2040. Also, Parkinson's Disease Foundation reveals that nearly 60,000 Americans are diagnosed with Parkinson's disease every year. This, in turn, is expected to create huge demand for neuromodulation devices, thereby aiding the market growth all over the world.
Neuromodulation is an intracranial and electrical therapy which has been approved by the Food and Drug Administration (FDA) for the treatment of the neurological diseases. Some common diseases that can be cured through neuromodulation therapy are spinal cord injury, tremors, chronic pain, minimally conscious state, bladder control, and stroke, which are usually found in the geriatric population. The proven effectiveness and enhancing acceptance of this therapy across a range of neurological disorders is expected to surge the market growth during the forecast period.
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Moreover, the rise in research activities to expand the application of neuromodulation, along with increasing awareness concerning the safety and efficacy of neurostimulator devices are few other factors responsible for the high CAGR of the market around the world. However, the high cost of neuromodulation procedures, along with the limited availability of skilled healthcare professionals are the major factors impeding the market growth over the forecast period of 2020-2027.
Global Neuromodulation Market Competitive Landscape Analysis (Revenue, USD billion, 2020-2027)
- Abbott Laboratories
- Boston Scientific Corporation
- Medtronic PLC
- Nevro Corporation
- Neuropace Inc.
- Neurosigma Inc.
- Neuronetics Inc.
- LivaNova PLC
- Synapse Biomedical Inc.
The regional analysis of the global Neuromodulation market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of neuromodulation devices, along with the presence of a significant number of pharmaceutical and biopharmaceutical industries in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the increasing prevalence of neurological disorder due to the growing geriatric population, along with the improving healthcare infrastructure in developing nations, such as China and India, would create lucrative growth prospects for the Neuromodulation market across the Asia-Pacific region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.
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Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- Internal Neuromodulation
- External Neuromodulation
- Parkinson's Disease
- Pain Management
Global Neuromodulation Market Regional Analysis (Revenue, USD billion, 2020-2027)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
Rest of the World
Lacrimal Devices Market Size By, By Application, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The lacrimal devices market is set to witness notable growth over the forecast time period owing to technological advancements and rising product demand. The lacrimal gland is situated within the orbit which is above the lateral end of the eye. It frequently releases fluid which is meant for cleaning and protecting the eye's surface since it moistens and lubricates it.
The lacrimal secretions are further referred as tears. Lacrimal drainage obstacles causing epiphora is known to be a common lacrimal ailment. Depending on the age of the patient as well as the pathophysiology of the condition, the ailment could either be relieved by DCR or by simple probing. Lacrimal devices such as lacrimal stents and intubations sets repair the lacrimal drainage system. These devices are specifically focused towards the lacrimal ducts and nasal or lacrimal punctum of the eye.
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