Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Neuromodulation Market size is expected to reach $3.8 billion by 2028, rising at a market growth of 6.0% CAGR during the forecast period.
The External segment is showcasing a CAGR of 8.6% during (2022 - 2028). When the modulation is applied to the laser signal after the light has been created, it is known as external modulation. Electro-Optic Modulation (EOM), Acousto-Optic Modulation (AOM), and Electro-Absorption Modulation (EAM) are all methods for manipulating laser output with electric fields or sound waves. The technique of transcranial magnetic stimulation utilizes a non-invasive device that sends electrical impulses to the brain to treat psychiatric and other problems. The number of clinical trials and R&D focus on non-invasive devices for the treatment of various illnesses has increased significantly.
The Metallic segment acquired maximum revenue share in the Global Neuromodulation Market by Biomaterial in 2021; thereby, achieving a market value of $2.6 billion by 2028. The increasing growth of the metallic segment is owing to the increased demand for metallic biomaterials, such as platinum group metals for permanent implantable electronic devices, and the increasing demand for cochlear implants that requires a platinum electrode array.
The Migraine segment has shown growth rate of 6.4% during (2022 - 2028). Due to an increase in migraine prevalence, the use of neuromodulation devices for its treatment is increasing. The primary reason that causes migraine in people is hypertension. Increasing number of people with hectic lifestyle is one of the major factors that are augmenting the growth of this segment.
The North America is the fastest growing region in the Global Neuromodulation Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.4 billion by 2028. The Asia Pacific market is estimated to witness a CAGR of 6.6% during (2022 - 2028). Additionally, The Europe market would exhibit a CAGR of 5.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/neuromodulation-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Medtronic PLC, LivaNova PLC, Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, NeuroSigma, Inc., NeuroPace, Inc., Neuronetics, Inc., MicroTransponder Inc., and Bioventus Inc.