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(Medical-NewsWire.com, December 12, 2018 ) Factors such as rising geriatric population, increasing prevalence of neurological diseases, strong product pipeline offered by the players, and expanded target applications and new indications are driving the growth of this market. Moreover, expansion in emerging economies is likely to create significant growth opportunities for players operating in the neuromodulation market.
Based on technology, the neuromodulation market is segmented into internal neuromodulation and external neuromodulation. Internal neuromodulation is further segmented into spinal cord stimulation (SCS), deep brain stimulation (DBS), vagus nerve stimulation (VNS), sacral nerve stimulation (SNS), and gastric electrical stimulation (GES). External neuromodulation is categorized into transcutaneous electrical nerve stimulation (TENS), transcranial magnetic stimulation (TMS), and respiratory electrical stimulation (RES).
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Neuromodulation is a technique that acts directly on nerves or the target area, where the activity of nerves is altered. These alterations are due to the effects produced by electrical stimulation or drug infusion. These devices include small electrodes, which are placed in the brain, spinal cord, or peripheral nerves, and are connected via leads to an implantable pulse generator placed under the skin to generate electrical stimulation in a precise pattern.
On the basis of region, the market is divided into North America, Europe, Asia-Pacific, and rest of the world (RoW). The rest of the world region comprises Latin America, the Middle East, and Africa. North America is expected to account for the largest share of the neuromodulation market, followed by Europe, Asia-Pacific, and rest of the world (RoW) in 2015.
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Some of the major players in the global neuromodulation market include Medtronic, Inc. (U.S.), Boston Scientific Corporation (U.S.), St. Jude Medical, Inc. (U.S.), Synapse Biomedical, Inc. (U.S.), Nevro Corporation (U.S.), Neurosigma, Inc. (U.S.), Neuropace, Inc. (U.S.), Neuronetics, Inc. (U.S.), Cyberonics, Inc. (U.S.), and BioControl Medical (Israel).
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