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The global noninvasive neuromodulation market is being supported by the growth of global neuromodulation market, which reached a value of about USD 15.03 billion in 2023. The market is further expected to grow at a CAGR of 12% in the forecast period of 2024-2032 to reach a value of approximately USD 41.45 billion by 2032.
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The noninvasive neuromodulation therapy TENS – Transcranial Electrical Nerve Stimulation has witnessed rising popularity over the years. This technique is used to treat a wide range of both acute and chronic pains from joints, muscles, spinal cord to tendons, and is forecast to boost market growth. The industry is bolstered by the rising demand for these units as they are small and portable and can therefore be used at home or anytime when pain relief is required. These are now being increasingly suggested by physical therapists, acupuncturists, and other healthcare professionals, thereby propelling the growth rate of the market over the forecast period.
Neuromodulation is defined as the alteration of nerve activity by targeting the stimulus, which could be electrical or chemical to specific neurological sites in the body. The main function of neuromodulation is in therapies; they can help restore function or relieve symptoms with neurological basis. Noninvasive is defined as not tending to destroy healthy tissue or physically enter the body. A lot of noninvasive neuromodulation techniques are used to treat spinal cord and transcranial stimulations.
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Based on product, the market is divided into:
On the basis of application, the market is segmented into:
By end use, the market is segregated into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Continuous low voltage electric current is applied to the spinal cord and is known as transcutaneous spinal cord stimulation. This technique helps in numbing and reducing chronic pain and has witnessed massive growth in the market. The immediate benefit on body functions and pain relief is boosting this technique, thereby supporting the growth of the noninvasive neuromodulation industry during the forecast period. The ability to relieve pain and treat a lot of injuries is propelling the growth of this industry. North America is forecast to lead the market as they invest heavily into the research and implementation of these techniques.
The report gives a detailed analysis of the following key players in the global noninvasive neuromodulation market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
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:
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Breakup by Product |
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Breakup by Application |
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Breakup by End-Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global noninvasive neuromodulation market is being supported by the growing global neuromodulation market, which attained a value of nearly USD 15.03 billion in 2023.
The noninvasive neuromodulation industry is being aided by the growing global neuromodulation market, which is projected to grow at a CAGR of 12% between 2024 and 2032.
The major industry drivers include the rising investments in the healthcare sector, increased demand for transcutaneous spinal cord stimulation technique, growing popularity of noninvasive neuromodulation therapies to treat various acute and chronic pains in muscles and the spinal cord, and the rising incidences of neurological disorders, such as epilepsy, movement disorders, and others.
The key industry trend augmenting the market growth include the rising geriatric population worldwide.
The major regions in the industry are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
The significant types of the product include repetitive transcranial magnetic stimulation (rTMS), transcutaneous electrical nerve stimulation (TENS), transcranial direct current stimulation (tDCS), transcranial alternating current stimulation (tACS), transcutaneous vagus nerve stimulation (tVNS), transcutaneous spinal cord stimulation (tSCS), electroconvulsive therapy (ECT), and others.
The major applications include pain management, epilepsy, urinary and fecal incontinence, depression, migraine, spinal cord injury, and others.
The significant end uses include rehabilitation centres, hospitals, speciality clinics, and others.
The major players in the industry are GE Global Research, Sooma Oy, Soterix Medical Inc., electroCore Inc, Bioness Inc., Helius Medical Technologies Inc., and others.
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