Neuromodulation Devices Market

Global Neuromodulation Devices Market Size, Share, Forecast: By Type: Invasive, Non-Invasive, Others; By Application: Internal Neuromodulation, External Neuromodulation, Others; By Indication: Pain Management, Neurological Disorders, Others; By Distribution Channels; Regional Analysis; Supplier Landscape; 2024-2032

Global Neuromodulation Devices Market Outlook

The global neuromodulation devices market size reached a value of USD 8.65 billion in 2023. The market is likely to grow at a CAGR of 10.3% during the forecast period of 2024-2032 to reach a market value of USD 20.83 billion by 2032. The growth of the market can be attributed to the rising prevalence of neurological disorders.


Global Neuromodulation Devices Market

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Neuromodulation Devices Insights: Principle, Diagnostic, and Therapeutic Applications

Neuromodulation, as the name suggests, is a technology acting on nerves directly. This technology involves modifying or modulating nerve activity by the action of stimulus. This stimulus can be pharmaceutical, chemical, or electrical by nature. Neuromodulation can also include stimuli like an electric current, a magnetic field, or a drug delivered directly into the subdural space. These stimulating agents release neurotransmitters, like dopamine or other chemical messengers, help nerve stimulation. Neuromodulating agents help in the excitation of neural circuits. 


The exact mechanism of neuromodulation is not known. Some presume 0dmb mechanisms of neuromodulation include blockage of the axon pathway, neural firing stimulation, depolarising blockade, and reduction in neural vibrations.


Neuromodulation devices help stop the neural attacks already in process and are also utilised as a precautionary measure to prevent impending attacks. 


Imaging tests play a vital role in the diagnosis of the neuromodulation field. The screening tests like MRI, PET, and diffusion tensor imaging are done before using neuromodulation devices. The clinical consequences of the diagnostic studies are further used to evaluate neuromodulation techniques. 


Neuromodulation devices work in the treatment of a wide range of diseases. Their application in chronic pain management primarily drives the neuromodulation devices market. The other applications of neuromodulation devices include the treatment of Parkinson’s disease, pelvic disorders, migraines, and cardiovascular disorders.


Neuromodulation Techniques: Invasive and Non-Invasive

There are various methods of neuromodulation depending on the nature of the delivered agents at the targeted area. Electrical, chemical, and magnetic are three effective methods driving the market growth. Depending on the technique, these methods are further bifurcated into invasive and non-invasive.


The invasive techniques require surgical intervention for the implantation of neuromodulation devices. Significant examples of invasive procedures include spinal cord stimulation, vagus nerve stimulation, cortical stimulation, peripheral nerve stimulation, and deep brain stimulation. 


The non-invasive techniques do not have any surgical intervention, and devices need to be placed outside the patient’s body. Examples of non-invasive techniques include direct current stimulation and magnetic stimulation.


The advancements in understanding neurological networks and stimulation mechanisms will help the neuromodulation devices market grow.


Global Neuromodulation Devices Market By Type

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The market can be categorised into the following segments:

Market Breakup by Type

  • Invasive
  • Non-Invasive
  • Others


Market Breakup by Application

  • Internal Neuromodulation
    • Spinal Cord Stimulation
    • Deep Brain Stimulation
    • Vagus Nerve Stimulation
    • Sacral Nerve Stimulation
    • Gastric Electric Stimulation
  • External Neuromodulation
    • Transcutaneous Electrical Nerve Stimulation
    • Transcranial Magnetic Stimulation
    • Respiratory Electrical Stimulation
  • Others


Market Breakup by Indication

  • Pain Management
  • Neurological Disorders
  • Respiratory Disorders
  • Others


Market Breakup by Distribution Channels

  • Hospitals
  • Testing Laboratories
  • Research Laboratories


Market Breakup by Region

  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others


Global Neuromodulation Devices Market By Region

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Increasing Prevalence of Neurological Disorders to be Among the Key Growth Drivers for the Neuromodulation Devices Market

According to WHO, around 12.2 million people suffer from stroke every year.  Epilepsy, a significant part of neurological disorders, affects about 50 million people annually . Thus, these higher incidence rates will increase the demand for neuromodulation devices and indirectly facilitate the market growth.


Neurological disorders are among the top causes of disability. These disorders account for the world’s second preeminent cause of mortalities worldwide. The major contributors are migraine, epilepsy, stroke, meningitis, and dementia. 


The European Academy of Neurology demonstrated that one in every three people is affected by neurological disease globally. Thus, the increased demand is the key factor propelling the expansion of the market. 


Researchers stated that neurological disorders are most prevalent in the elderly population. The risk of neurological disorders increases with the increasing age. Hence, the increasing geriatric population will increase the risk of neurodegenerative diseases. Thus, this will demand more neuromodulation devices and supplement neuromodulation devices market growth.


North America Accounts for the Largest Share of the Market

Neurological diseases are more prevalent in developing countries than in developed ones because of the geographical differences in risk factors. North America accounts for the largest market share in neuromodulation devices due to their greater awareness and technological advancements. 


The rapidly increasing population will also propel the growth of the neuromodulation device market. Men are more affected by neurological diseases than women.


Incorporating Artificial Intelligence (AI) into neurology seems to be a promising factor that will assist in developing the neuromodulation devices market.


There is also an increase in investments by top companies, thus, contributing to the development of the devices market. These key players focus on the approval and launching of new products, thus leading to the expansion of the market. This will provide lucrative opportunities to the market during the forecast period.


The imposition of strict government guidelines for the approval of neuromodulation devices is a limiting factor in the growth of the neuromodulation devices market. The high costs during the clinical trials can also hamper the outlook of the market. 


Therapeutic Landscape

Neuromodulation is mainly used to treat patients suffering from chronic pain. These devices involve the utilisation of electrodes. These electrodes are attached to the central and peripheral nervous systems. These electrodes are then connected to a generator and power source. 


The flow of current from the electrodes to the nerve helps in producing the necessary nerve stimulation, which can either suppress the pain signals or stimulate the new signals, thus helping in the eradication of pain.


Neuromodulation devices are primarily used for treating psychiatric and neurological disorders. The main target areas of neuromodulation devices are spinal, cortical, subcortical, and peripheral nerve structures.


Mechanism of Neuromodulation

Neuromodulation devices release pharmacological or electrical stimulating agents at the target site, which helps in the modulation or alteration of the abnormal neural pathway. These devices are of different types depending on the placement of the device within the patient’s body. The devices placed outside the patient’s body are referred to as external ones, while those that need to be placed inside the body are called implantable devices.


The management of chronic neuropathic pain accounts for the maximum share in the neuromodulation devices market. The other factors accounting for this treatment market are managing Parkinson’s disease, epilepsy, stroke, tremors, dystonia, gastrointestinal and cardiovascular disorders.


Neuromodulation: Emerging Areas and Target Sites

A novel therapy incorporating the brain-computer interface is used to treat spinal cord damage. In this therapy, neuromodulation senses the motor signals and then helps in connecting those signals with the outside world. This helps in the correction of altered movements as well.


The invasive neuromodulation techniques are used in the treatment of cancer pain. Neuromodulation devices release stimulants which help change pain’s electric signals. In this therapy, a sensation of vibration is released, which primarily overlaps the pain signal and thus suppresses the pain intensity. Neuromodulation is used to treat the pain caused by surgery and chemotherapy.


The neuromodulation principle is utilised to alleviate the symptoms associated with urological disorders. Voiding dysfunction is caused due to neurological damage to the bladder. The main aim of therapy is to ensure the sensation of pulsating current in the perineal region through sacral nerve stimulation. Hence, this therapy helps reduce pain and increase bladder control.


Deep brain stimulation, a therapy used for treating Parkinson’s disease, is also based on neuromodulation. This therapy incorporates the application of implanted neuromodulation devices. These embedded devices generally help deliver the small pulses of current to the specific locations of the brain. This helps in the restoration of neural circuits, facilitating the standard movement control.


Invasive and non-invasive neuromodulation techniques help in the treatment of migraines. The devices help in the stimulation of the supraorbital, vagus, and occipital nerves. This stimulation helps in the modulation of nerves and is used in treating acute or chronic migraines.


Epilepsy is associated with recurring seizures and is the third most common neurological disorder. The Food and Drug Administration has approved the deep brain stimulation technique for treating motor symptoms. The vagus nerve stimulation was also used for the treatment of epilepsy.


Electrical neuromodulation is used as an alternative therapy for the treatment of chronic angina pectoris. This subcutaneous electrical modulation, spinal cord stimulation, and transcutaneous electrical stimulation are the possible ways of treating angina. 


The primary mechanism of these devices is to modulate the pain signals, helping in pain suppression. The neuromodulation devices also help make the myocardial cells more resistant to ischemia challenges, which assist in providing an anti-anginal effect.


The neuromodulation devices also possess potential effects in treating gastrointestinal disorders. These implantable devices mainly alter gastric contractions through the principle of gastric electrical stimulation. These altered contractions regulate the stomach emptying rate and eventually treat gastrointestinal disorders.


Neuromodulation devices play a crucial role in the treatment of critical limb ischemia. The neural stimulation at the target regions helps reduce pain and improve lifestyle patterns.


Tremendous efforts of scientists, researchers, and healthcare professionals will lead to innovative neuromodulation devices that will lay the foundation for next-generation technologies. Henceforth, all these novel devices will help improve healthcare and the global economy. The application of these neuromodulation devices for treating a wide range of disorders will also drive the growth of the neuromodulation devices market.


Clinical Trial Landscape

Several clinical trials for neuromodulation devices are being developed and researched by healthcare organisations and pharma companies. To get a safer and more efficient treatment for a wide range of diseases, investigators are continuously analysing and reformulating the current technologies. They are more drawn toward studying new treatments with new targeted therapies.


Industry Focus on Emerging Technologies

Scientists are performing clinical trials using deep brain stimulation to treat obsessive-compulsive disorder (OCD). Food and Drug Administration approved the clinical trials for an HDE device that delivers electrical stimulation and will help treat obsessive-compulsive disorder.


Abbott is doing clinical trials to assess the safety and efficacy of deep brain stimulation. These trials aim to ensure the application of neuromodulation devices to treat depression, which conventional methods cannot. The successful results of these trials will help in the availability of better treatment opportunities for patients with depression. 


Scientists performed clinical trials at Vanderbilt University in the United States to assess the efficacy of deep brain stimulation in early-stage Parkinson’s disease. It was concluded that the application of these invasive neuromodulation techniques helped in the suppression of disease growth. Thus, the early onset of these devices also helped in the slow progression of Parkinson’s disease.


The FDA also approved the incorporation of deep brain stimulation in the treatment of mild Alzheimer’s disease. The clinical trials for this therapy are being run in Canada, the US, and Germany for further research and analysis.


In 2022, clinical trials for a new neuromodulation device, Lenire, have also begun. Scientists found this device as a potential source for treating tinnitus. These new targeted therapies will help the market grow further.


The positive results of these trials significantly drive the neuromodulation device treatment market. The better advancements and increased understanding of these devices also propel the neuromodulation devices market expansion. 


Competitive Landscape:

The report gives an in-depth analysis of the key players involved in the market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The neuromodulation devices market companies included in the market are as follows:


  • NeuroPace, Inc.
  • electroCore, Inc.
  • Medtronic plc
  • LivaNova, PLC
  • Boston Scientific Corporation
  • Neuronetics, Inc.
  • NeuroSigma, Inc.
  • Nevro Corp.
  • Synapse Biomedical, Inc.
  • Bioventus


Key Highlights of the Report

Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Indication
  • Distribution Channels
  • Region
Breakup by Type
  • Invasive
  • Non-Invasive
  • Others
Breakup by Application
  • Internal Neuromodulation
  • External Neuromodulation
  • Others
Breakup by Indication
  • Pain Management
  • Neurological Disorders
  • Respiratory Disorders
  • Others
Breakup by Distribution Channels
  • Hospitals
  • Testing Laboratories
  • Research Laboratories
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
  • Industry Events, Initiatives, and Trends
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • NeuroPace, Inc.
  • electroCore, Inc.
  • Medtronic plc
  • LivaNova, PLC
  • Boston Scientific Corporation
  • Neuronetics, Inc.
  • NeuroSigma, Inc.
  • Nevro Corp.
  • Synapse Biomedical, Inc.
  • Bioventus


*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
    1.1    Objectives of the Study
        1.1.1    Research Objectives
        1.1.2    Key Findings of the Report
    1.2    Limitations of the Study and Scope for Future Research
2    Research Methodology
3    Executive Summary
4    Global Neuromodulation Devices Market

    4.1    Global Neuromodulation Devices Market Overview
    4.2    Global Neuromodulation Devices Market Analysis
        4.2.1    Market Overview
      Global Neuromodulation Devices Market Historical Value (2017-2023)
      Global Neuromodulation Devices Market Forecast Value (2024-2032)
    4.3    Global Neuromodulation Devices Market by Type
        4.3.1    Market Overview
    4.4    Global Neuromodulation Devices Market by Application
        4.4.1    Market Overview
      Internal Neuromodulation
          Spinal Cord Stimulation
          Deep Brain Stimulation
          Vagus Nerve Stimulation
          Sacral Nerve Stimulation 
          Gastric Electric Stimulation
      External Neuromodulation
          Transcutaneous Electrical Nerve Stimulation
          Transcranial Magnetic Stimulation
          Respiratory Electrical Stimulation
    4.5    Global Neuromodulation Devices Market by Indication
        4.5.1    Market Overview 
      Pain Management
      Neurological Disorders
      Respiratory Disorders
    4.6    Global Neuromodulation Devices Market by Distribution Channels
        4.6.1    Market Overview
      Testing Laboratories
      Research Laboratories 
    4.7    Global Neuromodulation Devices Market by Region
        4.7.1    Market Overview
      North America
      Asia Pacific
      Latin America
      Middle East and Africa
        4.7.2    North America
      Historical Trend (2017-2023)
      Forecast Trend (2024-2032)
      Break Up by Country
          United States of America
        4.7.3    Europe
      Historical Trend (2017-2023)
      Forecast Trend (2024-2032)
      Break Up by Country
          United Kingdom
        4.7.4    Asia Pacific
      Historical Trend (2017-2023)
      Forecast Trend (2024-2032)
      Break Up by Country
        4.7.5    Latin America
      Historical Trend (2017-2023)
      Forecast Trend (2024-2032)
      Break Up by Country
        4.7.6    Middle East and Africa
      Historical Trend (2017-2023)
      Forecast Trend (2024-2032)
      Break Up by Country
          Saudi Arabia
          United Arab Emirates
          South Africa
5    Trade Data Analysis by HS Code
    5.1    Neurostimulators- 90189099
    5.2    Implantable Neurostimulators- 90189098
6    Current Scenario Evaluation and Regulatory Framework
    6.1    Emerging Therapies and Clinical Trials Synopsis
    6.2    Patent Landscape
        6.2.1    Patent Overview
      Patent Status and Expiry
      Timelines from Device Development to Commercial Launch
      New Device Application
          Documentation and Approval Process
    6.3    Cost of Treatment
    6.4    Regulatory Framework
        6.4.1    Regulatory Overview
      US FDA
      EU EMA
7    Global Neuromodulation Devices Market Dynamics
    7.1    Market Drivers and Constraints
    7.2    SWOT Analysis
    7.3    Porter’s Five Forces Model
    7.4    Key Demand Indicators 
    7.5    Key Price Indicators
    7.6    Industry Events, Initiatives, and Trends
    7.7    Value Chain Analysis
8    Supplier Landscape
    8.1    NeuroPace, Inc.
        8.1.1    Company Overview
        8.1.2    Product Portfolio
        8.1.3    Demographic Reach and Achievements
        8.1.4    Mergers and Acquisitions
        8.1.5    Certifications
    8.2    electroCore, Inc.
        8.2.1    Company Overview
        8.2.2    Product Portfolio
        8.2.3    Demographic Reach and Achievements
        8.2.4    Mergers and Acquisitions
        8.2.5    Certifications
    8.3    Medtronic plc
        8.3.1    Company Overview
        8.3.2    Product Portfolio
        8.3.3    Demographic Reach and Achievements
        8.3.4    Mergers and Acquisitions
        8.3.5    Certifications
    8.4    LivaNova, PLC
        8.4.1    Company Overview
        8.4.2    Product Portfolio
        8.4.3    Demographic Reach and Achievements
        8.4.4    Mergers and Acquisitions
        8.4.5    Certifications
    8.5    Boston Scientific Corporation
        8.5.1    Company Overview
        8.5.2    Product Portfolio
        8.5.3    Demographic Reach and Achievements
        8.5.4    Mergers and Acquisitions
        8.5.5    Certifications
    8.6    Neuronetics, Inc.
        8.6.1    Company Overview
        8.6.2    Product Portfolio
        8.6.3    Demographic Reach and Achievements
        8.6.4    Mergers and Acquisitions
        8.6.5    Certifications
    8.7    NeuroSigma, Inc.
        8.7.1    Company Overview
        8.7.2    Product Portfolio
        8.7.3    Demographic Reach and Achievements
        8.7.4    Mergers and Acquisitions
        8.7.5    Certifications
    8.8    Nevro Corp.
        8.8.1    Company Overview
        8.8.2    Product Portfolio
        8.8.3    Demographic Reach and Achievements
        8.8.4    Mergers and Acquisitions
        8.8.5    Certifications
    8.9    Synapse Biomedical, Inc.
        8.9.1    Company Overview
        8.9.2    Product Portfolio
        8.9.3    Demographic Reach and Achievements
        8.9.4    Mergers and Acquisitions
        8.9.5    Certifications
    8.10    Bioventus
        8.10.1    Company Overview
        8.10.2    Product Portfolio
        8.10.3    Demographic Reach and Achievements
        8.10.4    Mergers and Acquisitions
        8.10.5    Certifications
9    Recommendations and Discussion 
10    Pricing Models and Strategies (Additional Insight)

    10.1    Overview
    10.2    Cost Model
        10.2.1    Manufacturing Cost Analysis
        10.2.2    Procurement Cost Analysis
        10.2.3    Clinical Trial Cost Factors
    10.3    Pricing Strategies
        10.3.1    Competitor Pricing Analysis
        10.3.2    Key Assessment of Product Attributes
        10.3.3    Pricing Benchmark
11    Global Neuromodulation Devices Distribution Model (Additional Insight)
    11.1    Overview
    11.2    Potential Distributors
    11.3    Key Parameters for Distribution Partner Assessment


*Additional insights provided are customisable as per client requirements.

Key Questions Answered in the Report

The market attained a value of USD 8.65 billion in 2023, driven by the increased prevalence of neurological disorders.

The market is likely to grow at a CAGR of 10.3% during the forecast period of 2024-2032 to reach a market value of USD 20.83 billion by 2032.

The rising prevalence of neurologic disorders, advancements in technology, and more extensive investments by key companies are the major factors driving the growth of the market.

Based on the disease, the market is categorised into pain management, neurological disorders, and respiratory disorders.

The distribution channels in this market are hospitals, testing laboratories, and research laboratories.

The different regions are North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa.

The expensive costs of the devices, stringent government policies, and lack of awareness are the limiting factors in this market.

Neuromodulation is primarily used to alleviate chronic pain and regulate normal movements.

Neuromodulation devices are the devices that are required to regulate the nerve signals and hence in the modulation of the nervous system.

The different types of neuromodulations are sacral nerve stimulation, deep brain stimulation, vagus nerve stimulation, and spinal cord stimulation.

The device finds applications in internal and external neuromodulation.

Lenire is a new neuromodulating device that US FDA has approved for clinical trials.

Yes, neuromodulation devices have found potential applications in cancer treatment.

The key companies involved in this market are NeuroPace, Inc., electroCore, Inc., Medtronic plc, LivaNova, PLC, Boston Scientific Corporation, Neuronetics, Inc., NeuroSigma, Inc., Nevro Corp., Synapse Biomedical, Inc., and Bioventus.

Neuromodulation devices are used to regulate the muscular contractions of the stomach. Hence, this helps in the treatment of GIT disorders.

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