Global neuromodulation devices market: $12.5 billion industry by 2023

Press Release   •   Feb 28, 2013 10:19 GMT

The global neuromodulation devices market is expected to reach a value of around $12.45 billion by the end of 2023. The industry is suggested to see increased growth in emerging economies in the coming years, especially in India and China. In these countries, an increasingly ageing population and increased prevalence of diseases such as obesity and coronary heart disease will drive growth in the global neuromodulation devices market.

The neuromodulation devices market in the emerging economies will also benefit from a rise in demand for non-invasive treatment options and medical tourism. Growth in this market will also be driven by the approval and launch of neuromodulation devices that are more effective and involve a more simplified, less-invasive implantation procedure.

Neuromodulation is one of the fastest growing sectors of the medical device market. Neuromodulation is a rapidly evolving medical technique that provides symptomatic relief through the alteration, or modulation, of nerve system function. It works by either stimulating nerves to produce a natural biological response or by applying small doses of pharmaceutical agents directly to the site of action.

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