Neuromodulation Devices Market Size, Share & Trends Analysis Report By Product (Spinal Cord Stimulation, Deep Brain Stimulation), By Application (Migraine, Epilepsy), By End Use, By Region, And Segment Forecasts, 2024 - 2030

Neuromodulation Devices Market Trends

The global neuromodulation devices market size was valued at USD 5.31 billion in 2023 and is projected to grow at a CAGR of 10.2% from 2024 to 2030. The rising government funding for R&D activities in these devices, the increasing prevalence of neurological disorders, and technological advancements are driving the market growth. According to the Parkinson’s Foundation, around 1 million people are living with Parkinson’s disease in the U.S., which is further expected to increase to 1.2 million by 2030. The incidence of neurological disorders is on the rise, leading to an increased need for innovative treatment solutions, including neuromodulation devices.

According to the World Health Organization (WHO), each year, around 5 million people are diagnosed with epilepsy, which is around 49 people per 100,000 population. Moreover, conditions such as Parkinson's disease, essential tremor, dystonia, and medically refractory epilepsy are increasingly being addressed through techniques such as Deep Brain Stimulation (DBS) and other implantable neurostimulation systems. Thus, the increasing prevalence of these conditions significantly increases the demand for advanced neuromodulation devices.

Technological advancements in neuromodulation devices are significantly improving their effectiveness and ease of use, contributing to market expansion. Enhancements such as advanced materials for electrodes and leads are boosting the performance and efficacy of these devices. In August 2023, Medtronic obtained CE Mark approval for its Inceptiv spinal cord stimulator (SCS), which incorporates closed-loop sensing technology to manage chronic pain. This cutting-edge device automatically modifies stimulation based on real-time spinal cord signals, improving therapy effectiveness during everyday activities. The Inceptiv is recognized as the world's thinnest SCS device and is compatible with MRI scans, representing a major advancement in neuromodulation technology. The introduction of such technologically advanced neuromodulation devices, along with continuous research efforts by major industry players, is expected to drive market growth over the forecast period.

Market Characteristics & Concentration

Innovation in the market is significantly high, focusing on enhancing patient outcomes, increasing the applications of neuromodulation devices, and developing technologically advanced devices. For instance, in September 2024, Abbott launched a pivotal clinical trial named the TRANSCEND study to assess the efficacy of its DBS system in managing Treatment-resistant Depression (TRD), a severe form of major depressive disorder. The U.S. FDA has awarded Abbott Breakthrough Device designation for this research under its Breakthrough Devices Program, which accelerates the review process for innovative technologies that have the potential to significantly enhance the lives of individuals with life-threatening or irreversibly debilitating conditions.

The level of mergers and acquisitions (M&A) activity in neuromodulation devices is driven by increasing market presence, accessing advanced technology, and increasing product offerings to reach a larger patient pool. For instance, in November 2023, Boston Scientific Corporation announced the completion of the acquisition of Relievant Medsystems Inc., the company that developed the Intracept Intraosseous Nerve Ablation System. This system is the only therapy cleared by the U.S. FDA for treating vertebrogenic pain, a type of chronic lower back pain.

The regulatory landscape for the neuromodulation devices market is characterized by stringent approval processes and varying regulations across regions. In the U.S., the FDA oversees the evaluation and approval of these devices, emphasizing safety and efficacy through clinical trials. Similarly, in Europe, CE marking is required for market entry, necessitating compliance with the Medical Device Regulation (MDR). These regulations can pose challenges due to lengthy approval timelines and high costs associated with clinical studies.

Traditional pharmaceutical therapies remain a primary substitute, often preferred due to their non-invasive nature and established efficacy. The rising awareness and acceptance of these alternatives can impact the adoption of neuromodulation devices. Furthermore, advancements in technology may lead to the development of new therapies that could further challenge the market position of existing neuromodulation solutions.

The primary end-users of neuromodulation devices are healthcare facilities and ambulatory surgery centers owing to their high adoption of advanced solutions. These institutions drive the majority of market demand due to the increasing investment and better accessibility of patients to these healthcare facilities.

Product Insights

Based on product, the spinal cord stimulators segment dominated the market with the largest revenue share of 39.8% in 2023. These advanced devices are designed to improve the overall quality of life and sleep for individuals suffering from chronic pain, while also significantly reducing their reliance on pain medications. The increasing acceptability of these devices to treat a wide range of conditions, coupled with the rising development of advanced devices, is driving the segment growth. For instance, in May 2023, Abbott received FDA approval for its spinal cord stimulation (SCS) systems to treat chronic back pain in patients who are not candidates for surgery. This new system offers effective treatment options for individuals with limited surgical alternatives.

The deep brain stimulators segment is anticipated to grow at the fastest CAGR over the forecast period. Deep brain stimulation (DBS) is an effective treatment for movement disorders such as Parkinson’s disease, dystonia, and essential tremor, particularly when medications are insufficient. The increasing availability of these devices, coupled with increasing R&D initiatives in these devices, are expected to drive the segment growth. For instance, in January 2024, the FDA approved the Medtronic Percept RC Deep Brain Stimulation (DBS) system for treating Parkinson’s disease and other movement disorders such as essential tremor, epilepsy, and dystonia. This technology, featuring exclusive BrainSense capabilities, aims to improve patients' quality of life by controlling debilitating tremors and facilitating daily activities.

Application Insights

Based on application, the Parkinson’s disease segment dominated the market in 2023. The rising prevalence of Parkinson's disease, coupled with the increasing acceptance of deep brain stimulation as an effective treatment option, is expected to drive segment growth. According to the WHO, Parkinson’s disease caused around 5.8 million disability-adjusted life years (DALYs) in 2019, which is an increase of around 81% since 2000 and accounted for around 329,000 deaths, which is an increase of more than 100% since 2000. Moreover, as the global population ages, the incidence of this condition is expected to rise, thereby driving the demand for effective therapies to manage symptoms.

The chronic pain segment is expected to witness the fastest growth over the forecast period. Chronic pain, along with discomfort lasting more than three months, affects millions globally, significantly impacting quality of life, and has a significantly high prevalence among adults. For instance, according to the UK Pain Messages 2024, chronic pain affected around 8 million adults in the country, with significantly higher prevalence in the elderly population aged 75 years and above, with around 62% reporting symptoms of chronic pain. Such a high prevalence of chronic pain has encouraged healthcare providers to explore alternative therapies, particularly neuromodulation techniques, which utilize electrical impulses to control nerve activity, thereby contributing to the segment growth.

End Use Insights

Based on end use, the hospitals & ambulatory surgical centers (ASC) segment dominated the market in 2023 and is expected to witness the fastest growth over the forecast period. Hospitals are increasingly adopting advanced neuromodulation techniques to address conditions such as chronic pain, epilepsy, and treatment-resistant depression, where traditional pharmacological approaches are not giving effective outcomes. In May 2024, AiM Medical Robotics partnered with Brigham and Women's Hospital to conduct the first human clinical study using MRI-guided device placement for deep brain stimulation (DBS) in Parkinson's patients. This collaboration aims to validate their innovative MRI-compatible surgical robot, which previously demonstrated successful results in cadaver trials by precisely delivering DBS leads while addressing brain shift issues. Such collaborative efforts between the hospitals and companies operating in the market are contributing to the segment growth.

Clinics and physiotherapy centers are increasingly adopting neuromodulation devices due to their enhanced outcomes compared to traditional treatment options. This trend is significantly influenced by the limitations of medications, which often fail to provide satisfactory results for patients, leading healthcare providers to seek innovative alternatives. By focusing on patient-centered care, these facilities are well-equipped to incorporate advanced therapies, enabling them to create personalized treatment plans that improve patient outcomes and overall satisfaction.

Regional Insights 

North America neuromodulation devices market accounted for the largest global revenue share of 43.98% in 2023. This can be attributed to the rising prevalence of neurological disorders such as Alzheimer’s disease, Parkinson’s disease, and epilepsy, along with a growing demand for minimally invasive neurological procedures. Additionally, rapid technological advancements, the presence of leading manufacturers in the region, increased research and development investments, and enhanced government funding and initiatives further contribute to this market growth.

U.S. Neuromodulation Devices Market Trends

The neuromodulation devices market in the U.S. held the largest share in the North American market in 2023. According to the Brain Aneurysm Foundation, over 6.8 million individuals in the U.S. have unruptured brain aneurysms, with approximately 30,000 experiencing ruptures each year. This rising incidence of neurological disorders is expected to drive market growth in the country. Additionally, a favorable reimbursement framework and increasing healthcare expenditures are key factors contributing to the growth of the neuromodulation devices market in the U.S.

Europe Neuromodulation Devices Market Trends

The Europe neuromodulation devices market is recognized as one of the most advanced regions globally, characterized by its cutting-edge technologies and infrastructure, which contribute to exceptional healthcare facilities and high-quality patient care. The growing incidence of acute ischemic strokes, an increase in sedentary lifestyles, and the introduction of advanced technological products are key factors driving the neuromodulation devices market in the region. For instance, in December 2023, Medtronic obtained a CE mark for its rechargeable Percept deep brain stimulation (DBS) device, which combines brain signal capture technology with a rechargeable battery, minimizing the need for device replacements. This device is designed for patients with Parkinson’s disease, essential tremor, and primary dystonia.

UK neuromodulation devices market is driven by factors such as continued investments in the adoption of advanced solutions and growing prevalence of diseases such as epilepsy. For instance, approximately 630,000 individuals with epilepsy reside in the UK, which equates to about one in every 100 people. According to the British Epilepsy Association's report on epilepsy facts and terminology, around 80 new epilepsy diagnoses occur each day.

The France neuromodulation devices market is anticipated to witness significant growth over the forecast period owing to the increase in the prevalence of Parkinson’s disease and depression and rapid economic development. According to a survey by the French public health agency, around 13.3% of people aged between 18 and 75 experienced depression episodes in 2021, which is an increase of 36% from 2017.

Germany neuromodulation devices market is driven by the increasing prevalence of neurological disorders, such as Alzheimer's disease, Parkinson's disease, and dementia. For instance, as of December 31, 2021, around 1.8 million people were living with dementia in Germany, according to a research article published in DEUTSCHES ÄRZTEBLATT INTERNATIONAL journal in 2023.

Asia Pacific Neuromodulation Devices Market Trends

The neuromodulation devices market in Asia-Pacific is set for significant growth, driven by several key factors, such as the presence of numerous local players in countries such as China and Japan, as these companies introduce innovative products tailored to regional needs, increasing competition and accessibility. Additionally, rising awareness about treatment options for neurological diseases is further expected to propel market growth. Moreover, organizations such as the Asia-Pacific Centre for Neuromodulation (APCN), which focuses on research and promoting the benefits of stimulation surgeries, are also anticipated to contribute positively to the demand for these devices.

China neuromodulation devices market is expected to witness significant growth over the forecast period, driven by substantial investments from both public and private sectors in research, technological advancements, and strong collaboration among various stakeholders, including healthcare professionals and universities. Furthermore, the increasing government initiatives coupled with rising healthcare expenditures are further expected to fuel the market growth.

The neuromodulation devices market in Japan is driven by various government initiatives toward technological advancement, along with the need for effective regulatory compliance and the aging population's vulnerability to neurological disorders. For instance, according to the World Bank data, around 30% of the country’s population was aged 65 years and above in 2023.

Latin America Neuromodulation Devices Market Trends

The neuromodulation devices market in Latin America is expected to have significant growth owing to the growing health awareness and increasing demand for technologically advanced medical devices, including neuromodulation devices. Moreover, the rising healthcare spending in the region is further expected to contribute to the market growth.

MEA Neuromodulation Devices Market Trends

The neuromodulation market in the MEA region is expected to witness significant growth due to various factors, such as high disease burden, increasing privatization, and growing penetration of health insurance. Moreover, the increasing awareness about the advantages offered by these devices over conventional treatment alternatives is further expected to increase their demand over the forecast period.

Some of the major government funding initiatives to study neurological disorders in recent years are: 

Key Companies & Market Share Insights

Top market players are significantly investing in R&D activities to discover advanced solutions and increase their presence in the market. While emerging players in this market are focused on targeting specific clinical needs, which can offer them a competitive advantage in the market.

Key Neuromodulation Devices Company Insight

• Deep Brain Innovations LLC: Deep Brain Innovations LLC focuses on optimizing deep brain stimulation (DBS) therapy for Parkinson's disease. They utilize proprietary Temporally Optimized Patterned Stimulation (TOPS) technology to enhance device efficiency and longevity, aiming to improve patient outcomes in neurological treatments.

• Scion NeuroStim: Scion NeuroStim is developing innovative neuromodulation solutions specifically targeting chronic pain and various neurological disorders. Their focus is on creating advanced devices that provide effective and personalized treatment options for patients suffering from these conditions.

Recent Developments

• In May 2024, Nexstim Plc announced that Nexstim, Inc. has entered into a nonexclusive strategic alliance agreement with Inomed Inc. This agreement aims to enhance collaboration in marketing, sales, and application support between the two companies in the U.S.

• In October 2023, NeuroPace, Inc. announced several significant upgrades to its RNS System, aimed at enhancing and simplifying care. The new nSight Platform, Simple Set Programming, and Tablet Remote Monitor are designed to make the RNS System usage easier for both clinicians and patients while also improving overall patient care.

Neuromodulation Devices Market Report Scope

Global Neuromodulation Devices Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global neuromodulation devices market report based on product, application, end use, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Spinal Cord Stimulators

  • Deep Brain Stimulators

  • Sacral Nerve Stimulators

  • Vagus Nerve Stimulators

  • Gastric Electrical Stimulation

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Parkinson’s Disease

  • Chronic Pain

  • Migraine

  • Epilepsy

  • Tremor

  • Depression

  • Urinary & Fecal Incontinence

  • Others

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals & Ambulatory Surgery Centers (ASC)

  • Clinics & Physiotherapy Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • MEA

    • KSA

    • UAE

    • South Africa