The global neuromodulation market size is expected to reach USD 14.57 billion by 2030, according to a new study by Polaris Market Research. The report “Neuromodulation Market Share, Size, Trends, Industry Analysis Report, By Technology (Internal, External); By Product; By Application; By Biomaterial; By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
North America dominated the overall industry, with the United States being the largest contributor. The presence of major industry players and large pharmaceutical and biopharmaceutical industries, as well as rising investments in the country for the adoption of advanced technologies, are expected to drive regional industry growth over the forecast period.
According to the Parkinson's Foundation, nearly one million people in the United States will have Parkinson's disease by 2020, which is more than the combined number of people with multiple sclerosis, muscular dystrophy, and Lou Gehrig's disease. By 2030, the figure is expected to rise to 1.2 million.
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The continuous rise in the number of neurological disorders worldwide is the primary factor driving industry growth. According to WHO, nearly 1.1 billion people (roughly 13.75% of the global population) are currently suffering from neurological disorders such as Parkinson's disease, Alzheimer's disease, sclerosis, stroke, migraine, and others. According to SMR's research, Ischemic Strokes are the most common neurological disorder worldwide. Ischemic
Neuromodulation Market Report Highlights
Polaris Market Research has segmented the neuromodulation market report based on product type, technology type, application, biomaterial, end-use and region:
Neuromodulation, Product Type Outlook (Revenue - USD Billion, 2022 - 2030)
Neuromodulation, Technology Type Outlook (Revenue - USD Billion, 2022 - 2030)
Neuromodulation, Application Outlook (Revenue - USD Billion, 2022 - 2030)
Neuromodulation, Biomaterial Outlook (Revenue - USD Billion, 2022 - 2030)
Neuromodulation, End Use Outlook (Revenue - USD Billion, 2022 - 2030)
Neuromodulation, Regional Outlook (Revenue - USD Billion, 2022 - 2030)