The North America Neuromodulation Market would witness Market growth of 5.5% CAGR during the forecast period (2022-2028).
The increased frequency of neurological illnesses, combined with an aging population, as well as novel indications and expanded number of applications, are driving the Market growth. According to estimates from World Population Prospects: The 2019 Revision, one in every six people in the world will be over the age of 65 (16%) by 2050, up from one in every eleven in 2019. (9 percent). Almost 25 percent of all people in Europe and Northern America will be 65 or older by 2050. For the first time in history, people aged 65 and up outnumbered children under the age of five on a global scale in 2018. The number of people aged 80 and more is expected to quadruple by 2050, from 143 million in 2019 to 426 million.
According to a report published in 2019 by the Parkinson's Disease Foundation, the number of new instances of Parkinson's disease has grown over the last 30 years. According to the organization's data, approximately 10 million people worldwide suffer from Parkinson's disease. Parkinson's disease is more common as people get older, however about 4% of persons with the disease are diagnosed before they turn 50.
The healthcare infrastructure of the region is one of the most robust healthcare infrastructures in the world. Moreover, the incidence of neurological disorders is also on rise across the region. Therefore, healthcare practitioners are majorly focusing on providing enhanced treatment for these illnesses. In addition, there is a rise in the geriatric population across the region. As per the Journal of Aging in the United States, in July 2019, the number of Americans aged 65 and over is estimated to more than double from 52 million in 2018 to over 95 million by 2060, with a share of nearly 23%, up from 16%. Increased R&D activities in the healthcare sector, as well as product launch of neuromodulation devices, all contribute to the Market 's growth. For example, the FDA approved Nevro Corporation's 10 kHz high-frequency spinal cord stimulation therapy for the treatment of chronic pain associated with severe diabetic neuropathy in July 2021.
The US Market dominated the North America Neuromodulation Market by Country in 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $1,028.8 million by 2028. The Canada Market is experiencing a CAGR of 7.9% during (2022 - 2028). Additionally, The Mexico Market would exhibit a CAGR of 6.9% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Neuromodulation Market is Estimated 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:
By Technology
By Biomaterial
By Application
- Chronic Pain
- Urinary & Fecal Incontinence
- Migraine
- Failed Back Syndrome
- Parkinson Disease
- Epilepsy
- Tremor
- Depression
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
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.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Neuromodulation Market, by Technology
1.4.2 North America Neuromodulation Market, by Biomaterial
1.4.3 North America Neuromodulation Market, by Application
1.4.4 North America Neuromodulation Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Approvals and Trials
3.2.3 Product Launches and Product Expansions
3.2.4 Acquisition and Mergers
3.2.5 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. North America Neuromodulation Market by Technology
4.1 North America Internal Market by Country
4.2 North America External Market by Country
Chapter 5. North America Neuromodulation Market by Biomaterial
5.1 North America Metallic Market by Country
5.2 North America Polymeric Market by Country
5.3 North America Ceramic Market by Country
Chapter 6. North America Neuromodulation Market by Application
6.1 North America Chronic Pain Market by Country
6.2 North America Urinary & Fecal Incontinence Market by Country
6.3 North America Migraine Market by Country
6.4 North America Failed Back Syndrome Market by Country
6.5 North America Parkinson Disease Market by Country
6.6 North America Epilepsy Market by Country
6.7 North America Tremor Market by Country
6.8 North America Depression Market by Country
6.9 North America Others Market by Country
Chapter 7. North America Neuromodulation Market by Country
7.1 US Neuromodulation Market
7.1.1 US Neuromodulation Market by Technology
7.1.2 US Neuromodulation Market by Biomaterial
7.1.3 US Neuromodulation Market by Application
7.2 Canada Neuromodulation Market
7.2.1 Canada Neuromodulation Market by Technology
7.2.2 Canada Neuromodulation Market by Biomaterial
7.2.3 Canada Neuromodulation Market by Application
7.3 Mexico Neuromodulation Market
7.3.1 Mexico Neuromodulation Market by Technology
7.3.2 Mexico Neuromodulation Market by Biomaterial
7.3.3 Mexico Neuromodulation Market by Application
7.4 Rest of North America Neuromodulation Market
7.4.1 Rest of North America Neuromodulation Market by Technology
7.4.2 Rest of North America Neuromodulation Market by Biomaterial
7.4.3 Rest of North America Neuromodulation Market by Application
Chapter 8. Company Profiles
8.1 Medtronic PLC
8.1.1 Company overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Product Launches and Product Expansions:
8.1.5.2 Acquisition and Mergers:
8.2 LivaNova PLC
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Approvals and Trials:
8.3 Boston Scientific Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Geographical Expansions:
8.4 Abbott Laboratories
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Product Launches and Product Expansions:
8.5 Nevro Corporation
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Approvals and Trials:
8.6 NeuroSigma, Inc.
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Partnerships, Collaborations, and Agreements:
8.7 NeuroPace, Inc.
8.7.1 Company Overview
8.7.2 Recent Strategies and Developments:
8.7.2.1 Product Launches and Product Expansions:
8.8 Neuronetics, Inc.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional Analysis
8.8.4 Research & Development Expense
8.9 MicroTransponder Inc.
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Approvals and Trials:
8.10. Bioventus Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Regional Analysis
8.10.4 Research & Development Expenses
8.10.5 Recent strategies and developments:
8.10.5.1 Approvals and Trials:
8.10.5.2 Acquisition and Mergers:
TABLE 1 North America Neuromodulation Market, 2018 - 2021, USD Million
TABLE 2 North America Neuromodulation Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Neuromodulation Market
TABLE 4 Approvals and Trials - NEUROMODULATION MARKET
TABLE 5 Product Launches And Product Expansions– Neuromodulation Market
TABLE 6 Acquisition and Mergers– Neuromodulation Market
TABLE 7 Geographical Expansions- Neuromodulation Market
TABLE 8 North America Neuromodulation Market by Technology, 2018 - 2021, USD Million
TABLE 9 North America Neuromodulation Market by Technology, 2022 - 2028, USD Million
TABLE 10 North America Internal Market by Country, 2018 - 2021, USD Million
TABLE 11 North America Internal Market by Country, 2022 - 2028, USD Million
TABLE 12 North America External Market by Country, 2018 - 2021, USD Million
TABLE 13 North America External Market by Country, 2022 - 2028, USD Million
TABLE 14 North America Neuromodulation Market by Biomaterial, 2018 - 2021, USD Million
TABLE 15 North America Neuromodulation Market by Biomaterial, 2022 - 2028, USD Million
TABLE 16 North America Metallic Market by Country, 2018 - 2021, USD Million
TABLE 17 North America Metallic Market by Country, 2022 - 2028, USD Million
TABLE 18 North America Polymeric Market by Country, 2018 - 2021, USD Million
TABLE 19 North America Polymeric Market by Country, 2022 - 2028, USD Million
TABLE 20 North America Ceramic Market by Country, 2018 - 2021, USD Million
TABLE 21 North America Ceramic Market by Country, 2022 - 2028, USD Million
TABLE 22 North America Neuromodulation Market by Application, 2018 - 2021, USD Million
TABLE 23 North America Neuromodulation Market by Application, 2022 - 2028, USD Million
TABLE 24 North America Chronic Pain Market by Country, 2018 - 2021, USD Million
TABLE 25 North America Chronic Pain Market by Country, 2022 - 2028, USD Million
TABLE 26 North America Urinary & Fecal Incontinence Market by Country, 2018 - 2021, USD Million
TABLE 27 North America Urinary & Fecal Incontinence Market by Country, 2022 - 2028, USD Million
TABLE 28 North America Migraine Market by Country, 2018 - 2021, USD Million
TABLE 29 North America Migraine Market by Country, 2022 - 2028, USD Million
TABLE 30 North America Failed Back Syndrome Market by Country, 2018 - 2021, USD Million
TABLE 31 North America Failed Back Syndrome Market by Country, 2022 - 2028, USD Million
TABLE 32 North America Parkinson Disease Market by Country, 2018 - 2021, USD Million
TABLE 33 North America Parkinson Disease Market by Country, 2022 - 2028, USD Million
TABLE 34 North America Epilepsy Market by Country, 2018 - 2021, USD Million
TABLE 35 North America Epilepsy Market by Country, 2022 - 2028, USD Million
TABLE 36 North America Tremor Market by Country, 2018 - 2021, USD Million
TABLE 37 North America Tremor Market by Country, 2022 - 2028, USD Million
TABLE 38 North America Depression Market by Country, 2018 - 2021, USD Million
TABLE 39 North America Depression Market by Country, 2022 - 2028, USD Million
TABLE 40 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 41 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 42 North America Neuromodulation Market by Country, 2018 - 2021, USD Million
TABLE 43 North America Neuromodulation Market by Country, 2022 - 2028, USD Million
TABLE 44 US Neuromodulation Market, 2018 - 2021, USD Million
TABLE 45 US Neuromodulation Market, 2022 - 2028, USD Million
TABLE 46 US Neuromodulation Market by Technology, 2018 - 2021, USD Million
TABLE 47 US Neuromodulation Market by Technology, 2022 - 2028, USD Million
TABLE 48 US Neuromodulation Market by Biomaterial, 2018 - 2021, USD Million
TABLE 49 US Neuromodulation Market by Biomaterial, 2022 - 2028, USD Million
TABLE 50 US Neuromodulation Market by Application, 2018 - 2021, USD Million
TABLE 51 US Neuromodulation Market by Application, 2022 - 2028, USD Million
TABLE 52 Canada Neuromodulation Market, 2018 - 2021, USD Million
TABLE 53 Canada Neuromodulation Market, 2022 - 2028, USD Million
TABLE 54 Canada Neuromodulation Market by Technology, 2018 - 2021, USD Million
TABLE 55 Canada Neuromodulation Market by Technology, 2022 - 2028, USD Million
TABLE 56 Canada Neuromodulation Market by Biomaterial, 2018 - 2021, USD Million
TABLE 57 Canada Neuromodulation Market by Biomaterial, 2022 - 2028, USD Million
TABLE 58 Canada Neuromodulation Market by Application, 2018 - 2021, USD Million
TABLE 59 Canada Neuromodulation Market by Application, 2022 - 2028, USD Million
TABLE 60 Mexico Neuromodulation Market, 2018 - 2021, USD Million
TABLE 61 Mexico Neuromodulation Market, 2022 - 2028, USD Million
TABLE 62 Mexico Neuromodulation Market by Technology, 2018 - 2021, USD Million
TABLE 63 Mexico Neuromodulation Market by Technology, 2022 - 2028, USD Million
TABLE 64 Mexico Neuromodulation Market by Biomaterial, 2018 - 2021, USD Million
TABLE 65 Mexico Neuromodulation Market by Biomaterial, 2022 - 2028, USD Million
TABLE 66 Mexico Neuromodulation Market by Application, 2018 - 2021, USD Million
TABLE 67 Mexico Neuromodulation Market by Application, 2022 - 2028, USD Million
TABLE 68 Rest of North America Neuromodulation Market, 2018 - 2021, USD Million
TABLE 69 Rest of North America Neuromodulation Market, 2022 - 2028, USD Million
TABLE 70 Rest of North America Neuromodulation Market by Technology, 2018 - 2021, USD Million
TABLE 71 Rest of North America Neuromodulation Market by Technology, 2022 - 2028, USD Million
TABLE 72 Rest of North America Neuromodulation Market by Biomaterial, 2018 - 2021, USD Million
TABLE 73 Rest of North America Neuromodulation Market by Biomaterial, 2022 - 2028, USD Million
TABLE 74 Rest of North America Neuromodulation Market by Application, 2018 - 2021, USD Million
TABLE 75 Rest of North America Neuromodulation Market by Application, 2022 - 2028, USD Million
TABLE 76 Key Information – Medtronic PLC
TABLE 77 Key Information – LivaNova PLC
TABLE 78 key Information – Boston Scientific Corporation
TABLE 79 Key Information – Abbott Laboratories
TABLE 80 Key Information – Nevro Corporation
TABLE 81 key Information – NeuroSigma, Inc.
TABLE 82 Key Information – NeuroPace, Inc.
TABLE 83 Key Information – Neuronetics, Inc.
TABLE 84 Key Information – MicroTransponder Inc.
TABLE 85 Key Information – Bioventus Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Recent strategies and developments: Medtronic PLC
FIG 5 Recent strategies and developments: Bioventus Inc.