Our recent analysis titled "Neuromodulation Devices Market Forecast to 2030 - Global and Regional Share, Trend, and Growth Opportunity Analysis - by Type, Application, Biomaterial, and End User" indicates that the market was valued at approximately US$ 5.73 billion in 2022 and is projected to grow to around US$ 11.61 billion by 2030. This growth represents an estimated compound annual growth rate (CAGR) of 9.2% from 2022 through 2030.

Neuromodulation devices are sophisticated medical tools designed to modify the functioning of the nervous system. These devices are employed in the treatment of various conditions, including movement disorders like dystonia, Parkinson's disease, and tremors; tinnitus; obsessive-compulsive disorder; sensory impairments; epilepsy; bladder dysfunction; headaches; chronic pain; strokes; minimally conscious states; spasticity; and spinal cord injuries.

The World Health Organization (WHO) reported that in 2022, the United States had 50 million cases of epilepsy, 1 billion cases of migraines, and 400,000 cases of spinal cord injuries. Spinal cord stimulation is a widely favored method for alleviating chronic back pain, largely due to the spinal cord's anatomical and functional capacity to manage pain sensations. Over the last decade, the prevalence of spinal cord injuries has increased. The National Spinal Cord Injury Statistical Center (NSCISC) reported in its 2021 fact sheet that the annual incidence of spinal cord injuries is approximately 60 cases per million people. An article titled "Epidemiology of Traumatic Spinal Cord Injuries: A Large Population-Based Study," published in April 2022, noted that the overall age-sex standardized incidence rate of traumatic spinal cord injuries was 26.5 per million population, with variations based on age and sex. For the elderly population (aged 65 and above), the incidence rate was 59.2 per million for males and 23.3 per million for females. Spinal cord stimulators are also beneficial in managing postoperative pain following spinal surgeries. The rising number of spinal surgeries is driving the demand for spinal cord stimulators. Consequently, the high incidence of spinal cord injuries among older adults and the general population is fueling the need for neuromodulation devices.

Insights into the Neuromodulation Devices Market by Application

The neuromodulation devices market is categorized by application into several segments: deep brain stimulation (DBS), sacral nerve stimulation (SNS), gastric electrical stimulation (GES), spinal cord stimulation (SCS), and vagus nerve stimulation (VNS). In 2022, the spinal cord stimulation segment captured the largest share of the market and is anticipated to exhibit the highest CAGR during the period from 2022 to 2030. Spinal cord stimulation has been utilized for many years and is recommended for an expanding array of conditions. It can aid in the treatment of cervical and lumbar radiculitis, failed back surgery syndrome, complex regional pain syndrome, and neuropathy, among others. This therapy is recognized for its efficacy, safety, and cost-effectiveness in managing chronic pain. Recent advancements in spinal cord stimulation technologies are broadening the clinical applications, including visceral and ischemic pain, which may lead to enhanced effectiveness.

Insights into the Neuromodulation Devices Market by Biomaterial

From a biomaterial perspective, the neuromodulation devices market is divided into three segments: metallic, polymeric, and ceramic. The metallic segment held the largest market share in 2022, while the polymeric segment is expected to experience the highest CAGR from 2022 to 2030. Metallic biomaterials are commonly used in neuromodulation devices, particularly in components such as electrodes that require high durability and electrical conductivity. Titanium and its alloys are frequently chosen for their excellent strength-to-weight ratio and outstanding biocompatibility, making them ideal for use in neuromodulation devices.

The report on the neuromodulation devices market was developed using a variety of primary and secondary sources, including data from the Centers for Disease Control and Prevention (CDC) and the Brazilian Institute of Neuroscience and Neurotechnology, among others.