DUBLIN, July 20, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/7txm6d/neuromodulation) has announced the addition of the "Neuromodulation Market by Technology (Deep Brain Stimulation, Spinal Cord Stimulation, Transcranial Magnetic Stimulation) & by Application (Depression, Parkinson's, Tinnitus, Alzheimer's, Epilepsy, Ischemia, Obesity) Trends & Global Forecast to 2020" report to their offering.
The global neuromodulation market is expected to grow at a CAGR of 11.2% from 2015 to 2020, to reach $6.20 Billion by 2020 from $3.65 Billion in 2015. The market is dominated by North America, followed by Europe, Asia-Pacific, and rest of the world (RoW). Asia-Pacific is expected to grow at the highest CAGR during the forecast period.
Neuromodulation is a technique that acts directly on nerves or the target area, where the activity of nerves is altered. These alterations are due to the effects produced by electrical stimulation or drug infusion. These devices include small electrodes, which are placed in the brain, spinal cord, or peripheral nerves, and are connected via leads to an implantable pulse generator placed under the skin to generate electrical stimulation in a precise pattern.
The key factors that are expected to spur the growth of this market include rising geriatric population, increasing prevalence of neurological diseases, strong product pipeline offered by players, and expanded target applications and new indications. Moreover, expansion in emerging economies is likely to create significant growth opportunities for players operating in the market. However, factors such as unfavorable reimbursement scenario and lack of trained professionals are likely to pose as deterrents hampering market growth.
- Deep Brain Stimulation
- Spinal Cord Stimulation
- Transcranial Magnetic Stimulation
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Global Neuromodulation Market, By Technology
7 Global Neuromodulation Market, By Application
8 Neuromodulation Market, By Region
9 Competitive Landscape
10 Company Profiles
- Boston Scientific Corporation - Cyberonics, Inc. - Medtronic, Inc. - Nevro Corporation - St Jude Medical, Inc.
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SOURCE Research and Markets