Internal Neuromodulation Market Forecast 2025 | Global Report
Rising number of patients suffering from neurological disorders such as Parkinson’s, essential tremor, and primary dystonia is fueling the demand for internal neuromodulation procedures. Chronic back and leg pain associated with PVD (peripheral vascular disease), FBSS (failed back surgery syndrome), and CRPS (complex regional pain syndrome) are effectively treated by therapeutic stimulations. These factor coupled with growing geriatric population who are prone to chronic ailments are driving the growth of internal neuromodulation market. According to reliable estimates, global internal neuromodulation market is anticipated to record a considerable growth during 2019-2025.
Growing awareness regarding the benefits of internal neuromodulation such as safety, efficacy, and long-term solution for movement disorders and chronic pain is bolstering the demand for internal neuromodulation devices. Inflowing investments in healthcare sector and ongoing R&D in the field are other factors supplementing the market growth. Moreover, emergence of smaller, lighter, and easy to use implantable neuromodulation devices will favor the market outlook.
On the contrary, high costs associated with neuromodulation equipment and procedures may hinder the market expansion. Poor reimbursement scenario and lack of skilled professionals are other growth restraining factors.
As per the type landscape, global internal neuromodulation industry is categorized into spinal cord stimulator, sacral nerve stimulator, deep brain stimulator, gastric neuro stimulator, and vagus nerve stimulator. Spinal cord stimulator market segment is expected to witness an accelerated demand in the coming future, owing to rising cases of chronic pain and neuropathic pain in arms, legs, and foots as an aftermath of spinal surgeries. Cost-effectiveness as compared to conventional procedures is another major factor encouraging the product adoption. Procedures executed using spinal cord stimulators are non-invasive in nature and guarantee minimal side-effects along with substantial reduction in targeted pains.
Speaking of the end user spectrum, internal neuromodulation market is classified into Parkinson’s disease, chronic pain, and others. Growing cases of Parkinson’s disease coupled with mounting cost of medication and surgery is stimulating the demand for economical neuromodulation devices.
Considering the geographical outlook, US, Canada, Mexico, France, Italy, Germany, UK, Russia, India, China, Japan, Korea, Australia, Malaysia, Philippines, Indonesia, Thailand, Vietnam, Singapore, Brazil, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Turkey, and Egypt are the key contributors of global internal neuromodulation market.
North America internal neuromodulation market is anticipated to grow considerably over the next five years on account of inflowing investment in medical facilities and escalating prevalence of chronic and neurological diseases in the region. According to Parkinson’s News Today, about 60,000 individuals in the U.S. are diagnosed with Parkinson’s disease every year, whereas in Canada, the number is estimated to be 6,600. Rising disease burden is fueling growth of internal neuromodulation market in North America.
Major players operating in global internal neuromodulation market are Medtronic PLC, Boston Scientific Corp., St. Jude Medical, Cerbomed GmbH, Biocontrol Medical, Cyberonics, Depuy Synthes Companies, Synapse Biomedical, Enteromedics, Greatbatch, and Uroplasty.