Market Introduction
Neuromodulation is the process of regulating the activity of nerves by controlling the physiological level of neurotransmitters. These modifications are brought about with the help of various devices or by drug infusion. These devices contain small electrodes that are placed on the spinal cord, brain or the peripheral nerves. Neurological disorders such as, cerebrovascular diseases, Alzheimer disease and Parkinson's disease affect the neurological functioning of the body and hence can be treated with the help of neuromodulation.
Market Overview and Dynamics
In the South & Central America, the Neuromodulation market is expected to reach US$ 627.22 million in 2027 from US$ 316.72 million in 2019; the market is estimated to grow at a CAGR of 9.2% from 2020 to 2027. The growth of the market is attributed to the increasing product launches in the market, the rising product innovation for neuromodulation devices and growing developments in neuromodulation technology. However, high cost of neuromodulation devices is likely to restraint the growth of the market during the forecast years.
Key Market Segments
In terms of technology, the External (Non-Invasive) Neuromodulation segment is expected to hold the largest share of the Neuromodulation market by 2027. In terms of application, the Chronic Pain Management held the most significant market share of the Neuromodulation market. In terms of the end user, the hospitals segment is expected to maintain its largest market share by 2027
Major Sources and Companies Listed
Some of the major primary and secondary sources for neuromodulation market included in the report are Mental Health Database, Neurological diseases databases, Alzheimer’s websites, and others.
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SOUTH & CENTRAL AMERICA NEUROMODULATION MARKET SEGMENTATION
· External (Non-Invasive) Neuromodulation
o Respiratory Electrical Stimulation (RES)
o Transcutaneous Electrical Nerve Stimulation (TENS)
o Transcranial Magnetic Stimulation (TMS)
· Internal Neuromodulation
o Deep Brain Stimulation (DBS)
o Sacral Nerve Stimulation (SNS)
o Gastric Electrical Stimulation (GES)
o Spinal Cord Stimulation (SCS)
o Vagus Nerve Stimulation (VNS)
· Chronic Pain Management
· Failed Back Syndrome
· Epilepsy
· Tremor
· Incontinence
· Depression
· Dystonia
· Gastroparesis
· Parkinson’s Disease
· Obsessive-Compulsive Disorder
· Migraine
· Hospitals
· Clinics
· UAE
· Saudi Arabia
· South Africa
Company Profile-
- Abbott
- Boston Scientific Corporation
- Medtronic
- NeuroPace, Inc.
- NeuroSigma, Inc.
- NEVRO CORP.
- Synapse Biomedical Inc.
- Soterix Medical Inc.
- Integer Holdings Corporation
- Magstim