Neuromodulation Market( by Technology, Applications Segment, Region and Company) and Forecast to 2021- Global Analysis
Neuromodulation Market( by Technology, Applications Segment, Region and Company) and Forecast to 2021- Global Analysis
The global neuromodulation market is poised to cross US $ 5 Billion mark by 2021. Neuromodulation is a technology that acts directly upon nerves. It is the alteration-or modulation-of nerve activity by delivering electrical or pharmaceutical agents directly to a target area. Neuromodulation devices and treatments are life changing. They affect every area of the body and treat nearly every disease or symptom from headaches to tremors to spinal cord damage to urinary incontinence. With such a broad therapeutic scope, and significant ongoing improvements in biotechnology, the neuromodulation is poised as a major growth industry for the next decade. The market growth is attributed to factors such as an increased adoption of neuromodulation devices, ageing population, rising prevalence of diseases relevant to neuromodulation, technological advancements and deal making activity globally. However, the factors such as regulatory standards and compliance, negative social perception and a dearth of skilled neurosurgeons are restraining the growth of neuromodulation market globally.
By Technology Neuromodulation Market Analysis- In terms of technology, Spinal cord stimulation( SCS) is the largest segment of the market and is mostly indicated for treatment of chronic pain. Deep brain stimulation( DBS) represents the second largest segment within the neuromodulation market being followed by Sacral nerve stimulation( SNS) at the third spot in 2015. The VNS segment stands at the fourth spot with around XX % share of the neuromodulation market in 2015..