The Europe Neuromodulation Market is expected to witness market growth of 5.8% CAGR during the forecast period (2022-2028).
Prominent manufacturers have strengthened their neurostimulation device research and development operations, resulting in a spike in the neuromodulation Market 's growth. Currently, a significant number of novel technologies are undergoing clinical trials. Key players are also collaborating on the development of cutting-edge neuromodulation technology. For example, LivaNova PLC, a Market -leading medical technology and innovation business, partnered with Verily in February 2020 to acquire fresh insights into the impact of Vagus Nerve Stimulation on difficult-to-treat depression. In addition, the Market is growing due to an increase in major players and new product launches in developing countries. Furthermore, Medtronic, a multinational medical device company, announced the launch of 'Percept PC' in India in July 2021, which is the first deep brain stimulation (DBS) system with BrainSense technology for movement disorders like epilepsy and Parkinson's.
Rising awareness of neurodegenerative and neurological illnesses are projected to benefit the Market. The increased prevalence of depression and its symptoms, particularly among millennials, creates new possibilities. Furthermore, Market growth is aided by increased knowledge of the efficacy and safety of neurostimulator devices.
As per the European Academy of Neurology (EAN), the prevalence of neurological illnesses in European countries is roughly 307,859,199. They're linked to a high risk of negative health consequences like death, disability, institutionalization, and hospitalization. Neurological illnesses in senior adults usually include degenerative diseases such as dementia and Parkinson's disease, as well as strokes and headaches. In 2018, Europe had the second-largest proportion of the Market. The need for non-invasive devices is being fueled by well-developed healthcare infrastructure and an increase in non-invasive device approvals in the region. During 2017-2018, new entrants and regional players got CE mark approvals for their non-invasive devices.
The Germany Market dominated the Europe Neuromodulation Market by Country in 2021, and is expected to continue to be a dominant Market till 2028; thereby, achieving a Market value of $256.8 million by 2028. The UK Market is anticipated to grow at a CAGR of 4.9% during (2022-2028). Additionally, The France Market is expected to display a CAGR of 6.6% during (2022-2028).
Based on Technology, the Market is segmented into Internal and External. Based on Biomaterial, the Market is segmented into Metallic, Polymeric, and Ceramic. Based on Application, the Market is segmented into Chronic Pain, Urinary & Fecal Incontinence, Migraine, Failed Back Syndrome, Parkinson Disease, Epilepsy, Tremor, Depression, and Others. Based on countries, the Market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The Market research report covers the analysis of key stakeholders of the Market. Key companies profiled in the report include Medtronic PLC, LivaNova PLC, Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, NeuroSigma, Inc., NeuroPace, Inc., Neuronetics, Inc., MicroTransponder Inc., and Bioventus Inc.
By Technology
By Country
Prominent manufacturers have strengthened their neurostimulation device research and development operations, resulting in a spike in the neuromodulation Market 's growth. Currently, a significant number of novel technologies are undergoing clinical trials. Key players are also collaborating on the development of cutting-edge neuromodulation technology. For example, LivaNova PLC, a Market -leading medical technology and innovation business, partnered with Verily in February 2020 to acquire fresh insights into the impact of Vagus Nerve Stimulation on difficult-to-treat depression. In addition, the Market is growing due to an increase in major players and new product launches in developing countries. Furthermore, Medtronic, a multinational medical device company, announced the launch of 'Percept PC' in India in July 2021, which is the first deep brain stimulation (DBS) system with BrainSense technology for movement disorders like epilepsy and Parkinson's.
Rising awareness of neurodegenerative and neurological illnesses are projected to benefit the Market. The increased prevalence of depression and its symptoms, particularly among millennials, creates new possibilities. Furthermore, Market growth is aided by increased knowledge of the efficacy and safety of neurostimulator devices.
As per the European Academy of Neurology (EAN), the prevalence of neurological illnesses in European countries is roughly 307,859,199. They're linked to a high risk of negative health consequences like death, disability, institutionalization, and hospitalization. Neurological illnesses in senior adults usually include degenerative diseases such as dementia and Parkinson's disease, as well as strokes and headaches. In 2018, Europe had the second-largest proportion of the Market. The need for non-invasive devices is being fueled by well-developed healthcare infrastructure and an increase in non-invasive device approvals in the region. During 2017-2018, new entrants and regional players got CE mark approvals for their non-invasive devices.
The Germany Market dominated the Europe Neuromodulation Market by Country in 2021, and is expected to continue to be a dominant Market till 2028; thereby, achieving a Market value of $256.8 million by 2028. The UK Market is anticipated to grow at a CAGR of 4.9% during (2022-2028). Additionally, The France Market is expected to display a CAGR of 6.6% during (2022-2028).
Based on Technology, the Market is segmented into Internal and External. Based on Biomaterial, the Market is segmented into Metallic, Polymeric, and Ceramic. Based on Application, the Market is segmented into Chronic Pain, Urinary & Fecal Incontinence, Migraine, Failed Back Syndrome, Parkinson Disease, Epilepsy, Tremor, Depression, and Others. Based on countries, the Market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The Market research report covers the analysis of key stakeholders of the Market. Key companies profiled in the report include Medtronic PLC, LivaNova PLC, Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, NeuroSigma, Inc., NeuroPace, Inc., Neuronetics, Inc., MicroTransponder Inc., and Bioventus Inc.
Scope of the Study
Market Segments Covered in the Report:
By Technology
- Internal
- External
- Metallic
- Polymeric
- Ceramic
- Chronic Pain
- Urinary & Fecal Incontinence
- Migraine
- Failed Back Syndrome
- Parkinson Disease
- Epilepsy
- Tremor
- Depression
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Medtronic PLC
- LivaNova PLC
- Boston Scientific Corporation
- Abbott Laboratories
- Nevro Corporation
- NeuroSigma, Inc.
- NeuroPace, Inc.
- Neuronetics, Inc.
- MicroTransponder Inc.
- Bioventus Inc.
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Europe Neuromodulation Market by Technology
Chapter 5. Europe Neuromodulation Market by Biomaterial
Chapter 6. Europe Neuromodulation Market by Application
Chapter 7. Europe Neuromodulation Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Medtronic PLC
- LivaNova PLC
- Boston Scientific Corporation
- Abbott Laboratories
- Nevro Corporation
- NeuroSigma, Inc.
- NeuroPace, Inc.
- Neuronetics, Inc.
- MicroTransponder Inc.
- Bioventus Inc.
Methodology
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