Internal Neuromodulation Devices Global Market Is Expected To Grow At A Rate Of More Than 15% Through 2023 – 2027
26 Jun, 2023
The global internal neuromodulation devices market size is expected to grow from $8.55 billion in 2022 to $10.02 billion in 2023 at a compound annual growth rate (CAGR) of 17.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global internal neuromodulation devices market size is expected to reach $17.92 billion in 2027 at a CAGR of 15.6%.
Global Internal Neuromodulation Devices Market Key Driver
The rising prevalence of neurologic illnesses is likely to drive the growth of the internal neuromodulation devices market in the coming years. Neurologic diseases are conditions that affect the neurological system, which includes the brain, spinal cord, and nerves throughout the body. Internal neuromodulation devices are medical devices that administer electrical stimulation to specific parts of the nervous system to reduce symptoms such as chronic pain, mobility abnormalities, and mood disorders. They can improve patients' quality of life by lowering symptoms and making everyday tasks easier.
Get a sample of the global internal neuromodulation devices market reportGlobal Internal Neuromodulation Devices Market Segments
The global internal neuromodulation devices market is segmented:
1) By Type: Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Gastric Neuro Stimulator
2) By Technology Type: Internal Neuromodulation, External Neuromodulation
3) By Biomaterial: Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials
4) By Application: Failed Back Surgery Syndrome, Parkinson's Disease, Urinary Incontinence, Epilepsy, Gastroparesis
5) By End-User: Hospitals, Clinics, Home Healthcare, Community Healthcare
6) By Geography: The regions covered in the internal neuromodulation devices market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global internal neuromodulation devices market.
Major Internal Neuromodulation Devices Industry Players
Medtronic PLC, Boston Scientific Corporation, Cyberonics Inc., BioControl Medical, Aleva Neurotherapeutics SA, Bioness Inc., Uroplasty Inc., Abbott Laboratories, St. Jude Medical Inc., EnteroMedics Inc., Micron Medical Corporation, LivaNova PLC, NeuroPace Inc., Synapse Biomedical Inc., Soterix Medical Inc., Accellent Inc., Neuros Medical Inc., Nevro Corp.
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Internal Neuromodulation Devices Market Overview
Internal neuromodulation devices refer to a type of medical devices that are implanted inside the body to provide electrical stimulation to specific areas of the nervous system. These devices are used to treat various neurological and psychiatric conditions and can significantly relieve patients.
Internal Neuromodulation Devices Global Market Report 2023 provides data on the global internal neuromodulation devices market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The internal neuromodulation devices market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.