GITNUX MARKETDATA REPORT 2024

Neuromodulation Devices Industry Statistics

The neuromodulation devices industry is expected to show steady growth driven by increasing prevalence of neurological disorders and technological advancements in the field.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we will explore key statistics and insights regarding the global neuromodulation devices industry. With a market size valued at $7 billion in 2020 and projected to grow at a CAGR of 8.2% until 2028, the industry is witnessing significant developments and opportunities. From market shares to regional trends and future growth predictions, we will dissect the intricate landscape of neuromodulation devices and the factors influencing its trajectory.

Statistic 1

"The global Neuromodulation Devices market size was valued at 7 billion USD in 2020."

Statistic 2

"The market is projected to grow at a CAGR of 8.2% during the forecast period of 2021-2028."

Statistic 3

"The market in North America was worth $3.14 billion in 2020"

Statistic 4

"External neuromodulation devices accounted for 42.93% share of the market in 2020."

Statistic 5

"Sacral nerve stimulation held about 23% of the global neuromodulation devices market."

Statistic 6

"Chronic pain treatment segment dominates the neuromodulation devices industry, representing 32.6% of the total market share."

Statistic 7

"Medtronic is the biggest player in the neuromodulation devices market, holding nearly half of the overall market share."

Statistic 8

"The Asia-Pacific region is likely to witness the fastest growth in the neuromodulation devices market in the coming years."

Statistic 9

"The neuromodulation devices market is anticipated to surpass $10.2 billion by 2027."

Statistic 10

"The neuromodulation devices market demand is primarily driven by an increase in cases of neurological disorders, which presently affects around 1 billion people globally."

Statistic 11

"Hospitals held the largest market share, 60.2% in the year 2019 for neuromodulation devices end-users."

Statistic 12

"The Europe neuromodulation devices market was valued at around $2.6 billion in 2020."

Statistic 13

"The neuromodulation devices market in Latin America is expected to grow at a CAGR of 9.4% from 2020 to 2027."

Statistic 14

"The global neuromodulation devices market size is set to exceed $16 billion by 2026."

Statistic 15

"Parkinson's disease segment is expected to witness significant growth in the neuromodulation devices market over the forecast period"

Statistic 16

"The brain neuromodulation devices sub-segment, by device type, is projected to grow at the highest CAGR of 10.6% during the forecast period."

The Neuromodulation Devices industry is experiencing significant growth, with a market size of $7 billion in 2020 and projected growth at a CAGR of 8.2% until 2028. North America dominated the market in 2020 at $3.14 billion, with a strong presence of external neuromodulation devices. Chronic pain treatment is the leading segment, representing 32.6% of the market share, while Medtronic holds a significant portion of the market. The global market is expected to surpass $10.2 billion by 2027, driven by the rising cases of neurological disorders worldwide. Hospitals are the key end-users, accounting for 60.2% of the market share in 2019. The Asia-Pacific region shows promising growth potential, with a CAGR of 9.4% in Latin America. As the industry continues to expand, advancements in Parkinson’s disease and brain neuromodulation devices are anticipated, paving the way for a market size exceeding $16 billion by 2026.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

Can You Trust Our Report?

The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.

Learn more about our process here.