Neuromodulation Market (Spinal Cord Stimulation, Vagus Nerve Stimulation, Gastric Electrical Stimulation) Worth $6.8 Billion by 2017 - New Report by MarketsandMarkets
(PRWEB) April 19, 2014 -- The “Neuromodulation Market – [Spinal Cord Stimulation (SCS), Vagus Nerve Stimulation (VNS), Gastric Electrical Stimulation (GES), Deep Brain Stimulation (DBS), Sacral Nerve Stimulation (SNS) & Transcranial Magnetic Stimulation (TMS)] – Forecasts to 2017” analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, APAC, and Rest of the World.
Browse 93 market data tables, 4 figures spread through 193 Pages with an in-depth TOC on “Neuromodulation Market"
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This report studies the global neuromodulation devices market (2012 to 2017). The 2011 neuromodulation device market is estimated to be $3.9 billion in 2012, predicted to grow at a CAGR of 11.6% to reach $6.8 billion by 2017.
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The global neuromodulation market has been broadly divided into two major segments based on the nature of procedure, namely, invasive or internal neuromodulation and non-invasive or external neuromodulation. The invasive neuromodulation segment comprises of spinal cord stimulation, deep brain stimulation, sacral nerve stimulation, vagus nerve stimulation and gastric nerve stimulation, whereas the non-invasive technology segment consists of transcranial magnetic stimulation (TMS) and transcutaneous electrical neuromodulation (TENS). All the techniques are further sub-segmented by its various applications.
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The neuromodulation market is expected to be a high growth market in the coming decade. It consists of devices used to modulate or alter neurons by means of passing electric pulses through the nerves. Notable segments of the neuromodulation market are spinal cord stimulation, deep brain stimulation, and vagus nerve stimulation. Vagus nerve stimulation, being nascent in the market, will represent the maximum growth in the coming years fuelled by its wider scope of application and less invasive nature as compared to other SCS or DBS techniques. The spinal cord stimulation technique holds maximum share in the market, yet, it is observed to have a slower growth.
Research studies and clinical trials also show a promising future for DBS and transcranial magnetic stimulation market in new applications like Alzheimer’s, drug resistant depression, tinnitus, etc. The key factors that drive the neuromodulation market are higher incidences of endemic diseases, rise in aging population, technological advancement, devices under approval, and presence of several niche players. Reimbursement in certain geographies and cost of devices are major challenges faced by this market. North America is estimated to account for the maximum share of the neuromodulation market in 2012, followed by Europe, and Asia-Pacific countries like Japan, India, and China.
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