Neuromodulation Devices Market Will Reach $9.3 Bn in 2020

Friday 29 April 2016, Amsterdam

An updated report, now available on ASDReports, forecasts that overall sales of neuromodulation devices will reach $9.3bn worldwide in 2020. That sales growth will continue through to 2026, aided by advances in that medical device technology and rising needs for treating human neurological disorders. Those revenue predictions and others appear in Neuromodulation Devices 2016-2026: Revenue Forecasts for Deep Brain Stimulation, Spinal Cord, Vagus Nerve, Sacral Nerve and Gastric Electrical Applications. In March 2016 that updated report received publication, adding to a long-running catalogue of healthcare studies.

The new investigation assesses events, prospects and sales opportunities shaping the development, production and marketing of neuromodulation devices. The updated study shows multilevel revenue forecasting and qualitative assessments. That work also explores activities of companies developing, producing and selling neuromodulation medical devices, assessing their potentials. That market holds many technological and commercial opportunities from 2016, including rising sales in developed and emerging countries.

The key player predicts the neuromodulation devices industry will continue to expand its revenues from 2016 to 2026. That sales expansion is driven by ageing populations and the increasing prevalence of chronic neurological disorders. Adding to this will be the growing demand from emerging national markets, as their economies prosper and rising expenditure on healthcare increases the demand and ability to pay for those neurological treatments.

The updated study shows how demand for neuromodulation devices will change owing to political and economic changes in developed and developing countries. Furthermore the shifts in market share of the submarkets are shown, assessing developments, opportunities and prospects for neuromodulation devices technology.

Aanchal Verma, a healthcare industry analyst, said: “The prevalence of age-related diseases and chronic neurological disorders is increasing globally. Neuromodulation devices provide promising treatments for illnesses including chronic pain, epilepsy, Parkinson’s disease, depression and incontinence. The future of the neuromodulation devices market will be based on innovative techniques to expand the application of those devices and treat a wider range of neurological diseases.

“Demand for neuromodulation devices is set to increase rapidly in the near future, owing to lifestyle changes and an ageing population that is predisposed to chronic neurological diseases. Furthermore, the convenient and non-invasive characteristics of the devices. along with their improved affordability in healthcare systems in emerging economies, will continue to fuel the demand for neuromodulation devices globally.”