Internal Neuromodulation segment is expected to drive the growth of the North Neuromodulationmarket by Technology

According to the latest study on‘Neuromodulation Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Technology, Application, End User, and Country,’ the North AmericaNeuromodulationmarket was valued at US$ 3,029.72 million in 2019 and is projected to reach US$ 6,612.00 million by 2027; it is expected to grow at a CAGR of 10.6% during 2020–2027. The report highlights the trends prevailing in the North Americaneuromodulation  market and the factors driving the market along with those that act as deterrents to its growth.

Based on technology, the neuromodulation market is segmented external (non-invasive) neuromodulation and internal neuromodulation. In 2019, the internal neuromodulation segment accounted for the largest share of the North America neuromodulation market. The growth of the segment attributes to growth of internal neuromodulation segment is attributed to increasing product launches in the market, the rising product innovation for neuromodulation devices and growing developments in neuromodulation technology are some of the primary factors contributing to the dominance of the segment in the North America Neuromodulation  market.Additionally, the outbreak of the COVID-19 pandemic has highly affected the countries in the North American region.

Abbott, Boston Scientific Corporation, Medtronic, NeuroPace, Inc., NeuroSigma, Inc., NEVRO CORP, Synapse Biomedical Inc., Soterix Medical Inc, Integer Holdings Corporation, and Magstim. are among the prominent players present in the neuromodulation  market. The market players are focused on mergers and acquisitions to sustain their position in the market. For instance, in September 2020Boston Scientific announced the European launch of the WaveWriter Alpha portfolio of Spinal Cord Stimulator (SCS) Systems. The portfolio, consisting of four MRI conditional, Bluetooth-enabled implantable pulse generators (IPGs), offers expanded personalization based on patient needs, including rechargeable and non-rechargeable options, and access to waveforms that can cover multiple areas of pain.

North America neuromodulation market

The report segments the North America neuromodulation market as follows:

By Technology

• External (Non-Invasive) Neuromodulation
  • Respiratory Electrical Stimulation
  • Transcutaneous Electrical Nerve Stimulation
  • Transcranial Magnetic Stimulation
• Internal Neuromodulation
  • Deep Brain Stimulation
  • Sacral Nerve Stimulation
  • Gastric Electrical Stimulation
  • Spinal Cord Stimulation
  • Vagus Nerve Stimulation

By Application

• Chronic Pain Management
• Failed Back Syndrome
• Epilepsy
• Tremor
• Incontinence
• Depression
• Dystonia
• Gastroparesis
• Parkinson’s Disease
• Obsessive-Compulsive Disorder
• Migraine

By End User

• Hospitals
• Clinics
• Home Healthcare

By Country

• US
• Canada
• Mexico