Overview
Valued at ~$6.63 billion in 2023, the neuromodulation devices market is projected to reach
~$9.61 billion by 2028, increasing at a CAGR of 7.7% over the 2023-2028
forecast period. This Market Snapshot is part of LSI’s Market Intelligence platform, your
one-stop-shop for global medtech market sizing and analysis, procedure volume data, startup company- and
deal-tracking, curated insights, and more.
Neuromodulation involves the stimulation of various nerves in the central nervous system, peripheral nervous
system, autonomic nervous system, or deep cell nuclei of the brain that leads to the “modulation” of its
activity. Common conditions for which neuromodulation is utilized include:
Chronic pain
Epilepsy
Movement disorders
mental health disorders (e.g., depression, obsessive-compulsive disorder)
Products included within the scope of this analysis include:
Implantable neuromodulation and neurostimulation devices
Transcutaneous neuromodulation and neurostimulation devices
This Market Snapshot is intended to provide a high-level overview of the global market for neuromodulation
devices, with key insights into:
Unit volumes from 2023 to 2028
Market forecasts from 2023 to 2028
Market insights
Competitive landscape analysis of major competitors
Insights into key market events for strategic and startups
Neuromodulation Devices Market Snapshot Summary
| Snapshot Aspect | Data and Details |
| Base Year for Estimate | 2023 |
| Forecast Period | 2023 - 2028 |
| Market Size in 2023 | $6.63 billion |
| CAGR | 7.7% |
| Projected Market Size in 2028 | $9.61 billion |
Neuromodulation Devices Market Insights
The neuromodulation devices market is experiencing strong growth, driven by the increasing adoption of
technologies such as vagus nerve stimulation, deep brain stimulation (DBS), transcutaneous magnetic stimulation,
hypoglossal nerve stimulation, and sacral nerve modulation (SNM). These devices, initially used for treating
chronic pain and movement disorders like Parkinson’s disease, are now expanding into new indications, broadening
their accessibility and making them available to a growing patient population. Technological advancements,
particularly in SNM, have significantly contributed to market expansion, with improvements in device design and
battery technology making these therapies more feasible and affordable.
Much of the market is driven by implantable devices, which command high prices, contributing to substantial
dollar volume growth. As emerging companies continue to explore neuromodulation therapies for diseases with
increasing prevalence, such as Alzheimer’s disease, the market is expected to maintain a strong growth
trajectory throughout the forecast period. Overall, the dollar volume market is projected to grow at a rate that
is approximately three percentage points higher than the previous year’s projections, fueled by ongoing
technological innovations and the expansion of treatment indications.
Competitive Landscape
The full Market Snapshot includes a robust analysis of the competitive landscape for the neuromodulation devices
market. This includes estimated market revenue and market share for key players, such as Medtronic, Abbott, and
Boston Scientific.
Select Market Events
| Company | Date | Type | Event |
|
Medtronic
|
1/2024 | Regulatory Approval | Medtronic announced that the company received U.S. FDA regulatory approval for its Percept RC Neurostimulator. |
|
Boston Scientific
|
1/2024 | M&A | Boston Scientific announced its decision to acquire Axonics, adding sacral neuromodulation to its portfolio. |
Key Companies Covered
Abbott
Advanced Bionics
Axonics
B. Braun
Biotronik
Boston Scientific
Cogentix Medica
Cyberonics
electroCore Medical
Inspire Medical
LivaNova
Medtronic
Nevro
