Neuromodulation Devices Market: By Technology (Spinal Cord Stimulation (SCS), Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS), Sacral Nerve Stimulation (SNS), Gastric Electrical Stimulation (GES), Others), By Application (Parkinson's disease, Epilepsy, Depression, Dystonia, Pain Management, Others), and Geography  

Neuromodulation Devices Market size was valued at USD 6,334.9 million in 2023 and is poised to grow at a CAGR of 6.3% from 2024 to 2030. Neuromodulation is a technology that acts directly upon nerves. It is the alteration or modulation of nerve activity by delivering electrical or pharmaceutical agents directly to a target area. The key factors driving the neuromodulator devices are the rising prevalence of moment disorders, epilepsy, pain, and depression. Additionally, Factors such as the increasing prevalence of neurological disorders, the rise in the aging population, and novel symptoms and prolonged target applications are mostly anticipated to fuel the neuromodulation devices market growth during the forecast period. Furthermore, the number of people suffering from dementia and other neurological disorders is increasing globally, and it is anticipated to generate lucrative prospects for the adaptation and development of neuromodulation technologies and techniques. Moreover, the collaboration between the hospitals, clinics, and market players is anticipated to drive the neuromodulation devices market in the forecast period.

However, the challenges associated with the neuromodulation devices market are the high cost associated with the devices, some of the risks that may occur if neuromodulation devices are implanted in the body are bleeding, infection, blood clots and reaction to the medication remains substantial barriers that hamper the demand for the neuromodulation devices market in the forecast period. However, the key opportunities associated with neuromodulation devices are the rising prevalence of neurological disorders, psychiatric disorders, movement disorders, bladder and bowel dysfunction, and sleep disorders, and emerging applications and indications generate lucrative opportunities for neuromodulation devices in the forecast period.

Neuromodulation Devices Market Key Developments:

• In September 2023, PathMaker Neurosystems Inc. introduced a human clinical trial for its MyoRegulator device technologically advanced for the treatment of amyotrophic lateral sclerosis (ALS).