Neuromodulation Global Market 2024 To Reach $10.64 Billion By 2028 At Rate Of 10.5%

The Business Research Company's Neuromodulation Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 13, 2024 /EINPresswire.com/ -- The neuromodulation market has experienced robust growth in recent years, expanding from $6.43 billion in 2023 to $7.14 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to rising prevalence of chronic disorders, clinical evidence and research, patient demand for non-invasive therapies, government initiatives and funding, expansion of indications, collaborations and partnerships.

Strong Future Growth Anticipated
The neuromodulation market is projected to continue its strong growth, reaching $10.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to miniaturization of devices, focus on neurological disorders in aging population, expanded applications in psychiatry, patient-centric approaches, global expansion of healthcare access.

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Growth Driver Of The Neuromodulation Market
Rising healthcare expenditures are expected to propel the growth of the neuromodulation market going forward. Healthcare expenditure refers to the total amount of money spent on health care and related activities, including the provision of health services, private and public health insurance, health research, and public health activities. Growing expenditures contribute to the development and adoption of new therapies and diagnostic methods for neurological disorders, and increased funding allows for more research into new neuromodulation technologies, improving their efficacy, safety, and targeting capabilities.

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Major Players And Market Trends
Key players in the neuromodulation market include Abbott Laboratories, Soterix Medical Inc., Boston Scientific Corporation, Medtronic PLC, Synapse Biomedical Inc., Nevro Corp.
Technological advancements are a key trend gaining popularity in the neuromodulation market. Major companies operating in the neuromodulation market are focused on developing new technological solutions to strengthen their position in the market.

Segments:
1) By Technology: Internal Neuromodulation, External Neuromodulation (Non-invasive)
2) By Biomaterial: Polymeric Biomaterial, Metallic Biomaterial, Ceramic Biomaterial
3) By Application: Chronic Pain, Urinary And Fecal Incontinence, Migraine, Failed Back Syndrome, Parkinson Disease, Epilepsy, Tremor, Depression, Other Applications
4) By End-User: Hospitals, Clinics, Home Healthcare

Geographical Insights: North America Leading The Market
North America was the largest region in the neuromodulation market in 2023. The regions covered in the neuromodulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Neuromodulation Market Definition
Neuromodulation is the modification of nerve activity (or modulation) by delivering electrical or pharmacological substances directly to a specific location. It is a reversible procedure performed to relieve pain.

Neuromodulation Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Neuromodulation Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on neuromodulation market size, neuromodulation market drivers and trends, neuromodulation market major players, neuromodulation competitors' revenues, neuromodulation market positioning, and neuromodulation market growth across geographies. The neuromodulation market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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