Neuromodulation devices use electrodes to stimulate the spinal cord, brain, or peripheral nerves. These perfectly placed leads link to a pulse generator and power supply through an extension connection, which generates adequate electrical stimulations. When medications are unsuccessful or harmful for the patient, it serves as an alternative to drug therapy for symptomatic alleviation of persistent or chronic illnesses. By successfully modifying the faulty neural pathway activity brought on by the disease process, neuromodulation devices stimulate nerves with pharmacological drugs, electrical signals, and other types of energy.
The Neuromodulation Devices Market was valued at $ 6.1 billion in 2021 & will reach $ 14.18 billion by 2030 with a CAGR value of 10.29% approximately.
In the US, neuromodulation devices/Neuromodulators are licensed for the treatment of epilepsy, depression, pain, and other types of movement disorders. They are also used as an off-label for various neurologic indications. Neuromodulators are frequently believed to exert total control over the various brain states that underpin activities, including arousal and sleep.
The future of Neuromodulation Devices, along with its key statistics
- The demand worldwide for the treatment of tinnitus is increasing exponentially and is projected to reach a steep height in the future. CDC has reported that about 50 million Americans, or 15% of the general population, have some type of tinnitus, while 7.1 million British people above 17 years old suffer from it, as per Office for National Statistics.
- According to research, the usage of neuromodulation devices will increase in the near future as a result of significant progress in our knowledge of neuro-anatomical networks and the mechanism of stimulation, as well as advancements in material science, downsizing, energy storage, and delivery. Moreover, the methods of the neuromodulation process will be much more adaptable and customizable than before.
Segments covered elaborately inside the report:-
Product
- Deep Brain Stimulator
- Sacral Nerve Stimulator
- Gastric Electric Stimulator
- Spinal Cord Stimulator
- Vagus Nerve Stimulator
Applications
- Dystonia
- Essential Tremor
- Depression
- Fecal & Urinary Incontinence
- Pain Management
- Epilepsy
- Parkinson’s disease
- Gastroparesis
- Other
Players involved:
- Boston Scientific Corp
- Medtronic
- LivaNova
- Abbott Laboratories
- Nevro Corp
- Synapse Biomedical
- NeuroPace, Inc.
- NeuroSigma, Inc.
- BioControl Medical
- Neuronetics, Inc.
- Soterix Medical
- Bioness
- Bio induction
- Integer Holdings Corp
- GTX Medical
- GiMer Medical
- Micro Transponder
- Helius Medical Technologies
- Blue Wind
- Neuronano
Recent Development
- On 22nd Feb 2022, Medtronic received FDA approval for launching its InterStim X system, the most individualized sacral nerve stimulation therapy for bowel and bladder control. For delivering sacral neuromodulation (SNM) therapy, InterStim systems are regarded as the gold standard of care as it is integrated with the most advanced technologies. In addition, the new InterStim-X system has a battery life of 10 to 15 years without the need for a recharge.
- On Jan 2022, in order to treat painful diabetic neuropathy, Nevro Corporation stated that UnitedHealth care would cover its high-frequency neuromodulation therapy at 10 kHz (PDN). The decision for coverage from UnitedHealth care will certainly make its high-frequency 10 kHz therapy more accessible to PDN (Painful Diabetic Neuropathic) patients worldwide.
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