This report from Life Science Intelligence provides the latest market data for the Global Neuromodulation Devices Market. Information covered by this report includes:
· unit volumes & pricing forecast from 2019-2024
· analyses of the leading companies, and
· global market share analysis.
The global market for neuromodulation devices was valued at an estimated $4.2 billion in 2020 and is projected to increase at a CAGR (2020-2024) of 15.6%. Product segments covered by this report include deep brain stimulation (DBS) devices, spinal cord stimulation (SCS) devices, vagus nerve stimulation (VNS) devices, transcutaneous magnetic stimulation devices, and sacral nerve modulation devices.
This report covers the impact of COVID-19 on the neuromodulation devices market, including a recent forecast from 2020 to 2024. COVID-19 has also impacted leading competitors, such as Abbott, Boston Scientific, Medtronic, LivaNova, and others. The report provides insights into trends, drivers, and limiters of the neuromodulation devices market, as well as highlights potential opportunities.
The neuromodulation devices market was negatively impacted by the COVID-19 pandemic. The pandemic has affected elective surgical procedures markedly, as many non-critical procedures have been cancelled or postponed so that healthcare resources have been conserved for the treatment of COVID-19 and other critically ill patients. The neuromodulation devices market is expected to gradually recover to pre-COVID-19 levels by 2022.
Medtronic, Abbott, and LivaNova together account for approximately 80% of the global neuromodulation devices market share.
Neuromodulation devices are used to treat different neural conditions such as Parkinson’s disease, incontinence, epilepsy, migraine headache, chronic pain, sleep apnea, and many other conditions. Spinal cord stimulation and DBS devies are the key neuromodulation devices accounting for 60% and 30% of the neuromodulation devices market.