Description :
Neuromodulation is the alteration of nerve activity by delivering electrical impulses directly to a target area . Neurological disorders such as epilepsy , Alzheimer disease , cerebrovascular diseases , and Parkinson ' s disease affect the central and peripheral nervous system . Bacterial , viral , and fungal infections can also cause neurological disorders . Growth in the Neuromodulation devices market is attributed to increasing prevalence of neurological disorders due to rapidly rising geriatric population , increasing adoption of neuromodulation devices in developed countries , and growing focus of big players , such as Medtronic and Boston Scientific , on R & D in the segment .
The world neuromodulation devices market is estimated to reach $ 11,717 million by 2022 . The market is expected to be driven by the increasing awareness about the safety and efficacy of neuromodulation devices , rising prevalence of neurological disorders and rising number of clinical trials worldwide for the development of innovative technologies in the field of neuromodulators . However , lack of trained healthcare professionals and stringent approval policies restrain the market growth .
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The world neuromodulation devices market is segmented on the basis of product type , technology , application , material and geography . Based on product type , it is categorized into internal and external neuromodulation . Based on technology , Internal neuromodulation is segmented into five major segments , namely , deep brain stimulators , sacral nerve stimulators , spinal cord stimulators , vagus nerve stimulators and other neuromodulation devices . Similarly , based on technology external neuromodulation are classified into transcutaneous electrical nerve stimulation and repetitive transcranial magnetic stimulation . Spinal cord stimulators generated the highest revenue in 2015 , whereas the deep brain stimulation market is expected to grow fastest by a CAGR of 13.9 %. By application , the market is segmented into the following nine segments : failed back syndrome , chronic pain management , epilepsy , tremors , urinary and fecal incontinence , depression , dystonia , gastroparesis , Parkinson ' s disease , obsessive-compulsive disorder , migraine , depression and other applications . By biomaterial type , it is divided into metallic biomaterials , ceramic biomaterials and polymeric biomaterials .
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Geographically , it is segmented into North America , Europe , Asia-Pacific and LAMEA . Presently , North America occupies the largest market share , followed by Europe and Asia- Pacific . Asia-Pacific is expected to witness maximum growth during the forecast period .
Key strategies adopted by major players include increasing focus on clinical trials for the development of innovative technologies , expanding the indications of the currently marketed neuromodulation devices and mergers & acquisitions . For instance , Boston
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