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Introduction:The market for global neuromodulation devices was valued at around USD 3.5 billion in 2015 and is expected to reach USD 6.5 billion by 2022, growing at a CAGR of around 9.3% during the forecast period of 2016 to 2022. Neuromodulation includes treatments that involve stimulation or administration of medications directly to the body’s nervous system for therapeutic purposes.
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The market for global neuromodulation devices was valued at around USD 3.5 billion in 2015 and is expected to reach USD 6.5 billion by 2022, growing at a CAGR of around 9.3% during the forecast period of 2016 to 2022. Neuromodulation includes treatments that involve stimulation or administration of medications directly to the body’s nervous system for therapeutic purposes. The target cells for stimulation include nerves in the central and peripheral nervous systems, the autonomic nervous system, and the deep cell nuclei of the brain, resulting in modulation of their activity. Neuromodulation includes several modalities, and is a cross-disciplinary approach to pain control and neurologic dysfunction. Neuromodulation can be used to treat movement disorders, spasticity, and epilepsy, as well as pain syndromes. Devices are implanted which can either include drug delivery pumps or neural stimulators.
Geographic Coverage and Analysis:
Geographically, North America is the leading contributor to the market and is expected to retain its position during the forecast period due to the presence of large number of neurological patients and rise in base of aging population. However, Asia-Pacific market is expected to grow at a faster rate during the forecast period.
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