Global Neuromodulation Market to Surpass USD 5 Bn Mark by 2021, Forecasts iGATE Research in New Report Available at MarketPublishers.com25 Oct 2016 • by Natalie Aster
LONDON – The global market for neuromodulation is poised to be valued at more than USD 5 billion by 2021. With such an extensive therapeutic scope, and immense ongoing enhancements in biotechnology, neuromodulation will likely be a leading growth industry over the next ten years. The growth of the sector is largely stimulated by an increased uptake of neuromodulation devices, surging prevalence of diseases pertaining to neuromodulation, ageing population, technological advances and dealmaking activity worldwide. Nevertheless, the factors such as a lack of competent neurosurgeons, regulatory provisions and compliance, and negative social perceptions are amid the factors limiting the market growth.
With regard to technology, neurostimulation (also termed spinal cord stimulation) represents the largest segment of the in the neuromodulation marketplace and is mainly used to treat chronic pain. Deep brain stimulation makes up the 2nd biggest market segment, with sacral nerve stimulation following after as of 2015. The VNS segment held the 4th position in the market in the same year.
Chronic pain is the major application segment of the neuromodulation market, followed by urinary and fecal incontinence segments. Refractory epilepsy ranked third, followed by Parkinson’s disease as of 2015.
Geography-wise, the North America region accounted for the dominant share of the world’s neuromodulation sector in 2015, with Europe coming second and it is poised to remain at this position in the offing. Japan grabbed 3rd highest share, with China and Brazil entering into rivalry with each other to capture the greatest market share.
New report “Neuromodulation Market” created by iGATE Research gives an all-round assessment of the fast-developing, high-growth neuromodulation marketplace on a global level.
The study provides an in-depth analysis of the market based on technology and application; includes a granular regional market analysis; canvasses the growth drivers and challenges impacting the sector; an analysis of company sales and product lineup; major deals in the neuromodulation market landscape. The report also presents a comprehensive analysis of the leading companies covering company overview, products portfolio, revenues, and more.
Historical data and forecasts are provided for the period 2012-2021.
More new reports by our partner are available at iGATE Research page.