Neuromodulation Market Growth 2023: Industry to Grow Expeditiously To $4,342.50 Million by 2030

Neuromodulation is a field of medical science that focuses on the therapeutic application of electrical or chemical stimuli to modulate the activity of the nervous system. It involves the use of various techniques, such as electrical stimulation, magnetic stimulation, or targeted drug delivery, to influence and regulate neural pathways and circuits. Neuromodulation has emerged as a promising approach for managing a wide range of neurological and psychiatric disorders, including chronic pain, Parkinson’s disease, epilepsy, depression, and obsessive-compulsive disorder. The global neuromodulation market was valued at $2,480.21 million in 2020, and is projected to reach $4,342.50 million by 2030, growing at a CAGR of 6.2% from 2021 to 2030.

Neuromodulation Market in Short:

CAGR: 6.2%
Current Market Size: USD 4,342.50 Million
Fastest Growing Region: APAC
Largest Market: North America
Projection Time: 2021-2030
Base Year: 2021

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Q1. What is the total market value of neuromodulation market report?

The total market value of neuromodulation market is $2,480.2 million in 2020.

Q2. What is the market value of neuromodulation Market in 2021?

The market value of neuromodulation market in 2021 was $2,532.3 million.

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The goal of neuromodulation is to restore or optimize neural function by directly targeting specific areas of the nervous system. Electrical stimulation techniques, such as deep brain stimulation (DBS), spinal cord stimulation (SCS), and transcranial magnetic stimulation (TMS), deliver controlled electrical impulses to targeted regions, effectively modulating neural activity and alleviating symptoms. Additionally, neuromodulation techniques can be combined with drug delivery systems, enabling the precise and localized administration of therapeutic agents to the nervous system.

Neuromodulation therapies have demonstrated significant clinical benefits and have the potential to provide alternative treatment options for patients who do not respond well to traditional pharmaceutical interventions or surgical procedures. Ongoing research and technological advancements in neuromodulation continue to expand its applications and refine its efficacy, paving the way for personalized and precise treatments in the field of neurology and psychiatry.

Top Leading Key Companies –

• Bioventus Inc.,
• MicroTransponder,
• Boston Scientific Corporation,
• LivaNova PLC,
• Abbott,
• NeuroPace Inc,
• NeuroSigma,
• MicroTransponder,
• Nevro Corporation,
• Neuronetics,
• Medtronic

Market: By Region Outlook

• North America (U.S., Canada, Mexico)
• Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
• LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)

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Important Questions Being Answered by This Market Report Are –

Q1. Which is base year calculated in the neuromodulation market report?

Q2. Does the neuromodulation company is profiled in the report?

Q3. Which are the top companies hold the market share in neuromodulation Market?

Q4. What are the market values / growth % of emerging countries?

Key findings of the study –

• On the basis of technology, the internal neuromodulation segment was the highest contributor to the market in 2020.
• On the basis of application, the chronic pain segment was the highest contributor to the market in 2020
• Depending on biomaterial, metallic biomaterials segment dominated the market in 2020.

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