NeuromodulationCompanies (2024 - 2029)

Neuromodulation Market Companies Summary

The neuromodulation market has seen a significant impact due to the COVID-19 pandemic, with many procedures being postponed due to government restrictions. However, the demand for neuromodulation increased in 2021, as studies suggested that patients with chronic COVID-19 symptoms benefited from these devices. This increased adoption of neuromodulation procedures, despite the onset of various strains of the virus and associated post-COVID symptoms. The rising prevalence of neurological disorders, the aging population, and new indications and expanded target applications are anticipated to drive the overall market growth. The burden of neurological diseases has led many firms in the market to focus on the development of neuromodulation products, creating a competitive environment. The availability of various products is expected to lead to a surge in market demand. However, inconsistent reimbursement policies and a lack of trained professionals are expected to hinder market growth. The deep brain stimulation (DBS) segment is predicted to hold a significant share of the market during the analysis period, with manufacturers developing a new generation of devices and enhancing their current DBS systems. These advancements have led to an increase in the adoption of DBS, driving market growth.