LAMEA Neuromodulation Market Size, Share & Industry Trends Analysis Report By Technology (Internal and External), By Biomaterial, By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Neuromodulation Market would witness Market growth of 7.9% CAGR during the forecast period (2022-2028).
By modifying faulty neural pathway behavior induced by the disease process, neuromodulation devices stimulate nerves with pharmacological drugs, electrical signals, or other sources of energy. Deep brain stimulation (DBS), sacral nerve stimulation (SNS), vagus nerve stimulation (VNS), and spinal cord stimulation are examples of neuromodulation devices (SCS). These neuromodulation devices are used to treat tremor, urine and fecal incontinence, and dystonia, among other neurological problems.
Neuromodulation works by stimulating nerves to cause a biological response or by applying modest dosages of specific pharmacological drugs directly to the area of action. Electrodes are applied to the spinal cord, brain, or peripheral nerves in neurostimulation devices. The rising base of people suffering from various conditions such as urine incontinence, Parkinson's disease, spinal cord damage, migraine, and epilepsy is fueling the neuromodulation Market growth.
There is a robust prevalence of numerous major Market players across this region. In order to survive this cut-throat competition, these players are majorly expediting their efforts on bringing new innovations across the Market . Increased rates and prevalence of neurological illnesses, rapid population aging, development of improved neurostimulation technologies, and increased awareness are some of the key factors driving the internal neuromodulation technologies Market in Saudi Arabia, South Africa, and Turkey. Emerging markets like Saudi Arabia, South Africa, and Turkey have gained the traction of companies working on internal neuromodulation implant development and marketing. The demand for internal neuromodulation technologies in these expanding Market segments is being driven by growth in neurological illnesses and government measures to raise awareness through education campaigns.
The Brazil Market dominated the LAMEA Neuromodulation Market by Country in 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $59.1 million by 2028. The Argentina Market is poised to grow at a CAGR of 8.5% during (2022 - 2028). Additionally, The UAE Market would witness a CAGR of 7.6% during (2022 - 2028).
Based on Technology, the Market is segmented into Internal and External. Based on Biomaterial, the Market is segmented into Metallic, Polymeric, and Ceramic. Based on Application, the Market is segmented into Chronic Pain, Urinary & Fecal Incontinence, Migraine, Failed Back Syndrome, Parkinson Disease, Epilepsy, Tremor, Depression, and Others. Based on countries, the Market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Neuromodulation Market is Predict to reach $3.8 Billion by 2028, at a CAGR of 6%
The Market research report covers the analysis of key stake holders of the Market . Key companies profiled in the report include Medtronic PLC, LivaNova PLC, Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, NeuroSigma, Inc., NeuroPace, Inc., Neuronetics, Inc., MicroTransponder Inc., and Bioventus Inc.
Scope of the Study
Market Segments Covered in the Report:
- Chronic Pain
- Urinary & Fecal Incontinence
- Failed Back Syndrome
- Parkinson Disease
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Medtronic PLC
- LivaNova PLC
- Boston Scientific Corporation
- Abbott Laboratories
- Nevro Corporation
- NeuroSigma, Inc.
- NeuroPace, Inc.
- Neuronetics, Inc.
- MicroTransponder Inc.
- Bioventus Inc.
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