According to the WHO, in 2022, the US recorded 50 million epilepsy cases, 1 billion migraine cases, and 400,000 spinal cord injury cases. Spinal cord stimulation is one of the most preferred techniques in treating chronic back pain, primarily due to the anatomical and functional abilities of the spinal cord nerves to control the sensation of pain. The incidence of spinal cord injuries has grown over the past decade. The National Spinal Cord Injury Statistical Center (NSCISC) 2021 fact sheet states that the annual incidence of spinal cord injuries is 60 cases per million. According to the article titled “Epidemiology of traumatic spinal cord injuries: a large population-based study” published in April 2022, the overall age-sex standardized incidence rate of traumatic spinal cord injuries was 26.5 per 1 million population, and the rates were related to age in both sexes. According to the same source, in elderly (≥ 65 years) population, the rate is 59.2 and 23.3 per 1 million in males and females, respectively. Spinal cord stimulators can be useful in managing postoperative pain associated with spinal surgery. An increase in number of spinal cord surgeries propels the demand for spinal cord stimulators. Therefore, high incidence of spinal cord injuries in old age and adults stimulates the demand for neuromodulation devices.

Neuromodulation Devices Market: Regional Overview

In terms of geography, the neuromodulation devices market is segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In terms of revenue, North America dominated the neuromodulation devices market share in 2022. The growing prevalence of neurological diseases, high spending on research and development, rising number of product approvals by the FDA, and technological advances boost the demand for neuromodulation devices in the region.

The neuromodulation devices market in Asia Pacific is anticipated to register the highest CAGR during 2022–2030. The rising development of the medical device industry in countries such as Japan and China is boosting the demand for neuromodulation devices in the region. In addition, innovative technology trends in neurology and the rapid adoption of machine learning (ML) and artificial intelligence (AI) drive the market in the region. Also, rising awareness regarding neurological disorders among countries such as India, Australia, and South Korea will encourage the neuromodulation devices market growth in the region during the forecast period.

The rising prevalence of neurological diseases and the development of neuromodulation devices are likely to enhance the market’s growth in the coming years. China is among the most populated countries in the world, and the country has a maximum number of patients suffering from neurological disorders. The country also has experienced a significant rise in the elderly population, and stroke is the leading cause of death among older people across the country. According to the government of China, at the end of 2022, China had 280 million people aged 60 and above. By 2035, the population is expected to rise to 400 million. These changes have profound public health implications in the country as the risk and burden of noncommunicable diseases and the demand for health and social care systems increase. The most common neurodegenerative disease in China is Parkinson’s disease (PD). According to ChinaDaily, there were ~4 million Parkinson’s patients in China as of February 2023, and ~1.7% of people over 65 years have been diagnosed with the disease. According to a study discussed in the Journal of Health, Population, and Nutrition, the number of people with Alzheimer’s disease in China is ~6 million, with dementia rates among 65-, 75-, and 85-year-olds being 5%, 11.5%, and 30%, respectively.

Neuromodulation Devices Market: Competitive Landscape and Key Developments

Abbott (St. Jude Medical, Inc), LivaNova PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA, Bioventus, EnteroMedics Inc, Nevro Corporation, NeuroPace Inc, Synapse Biomedical Inc, and Neurosigma Inc. are among the leading companies operating in the neuromodulation devices market. Market players focus on many organic and inorganic developments, which allows them to benefit from attractive business opportunities prevailing in the neuromodulation devices market. As per company press releases, below are a few recent key developments:

• In August 2023, Mainstay Medical Holdings plc completed the enrollment in its RESTORE randomized clinical study of ReActiv8 for the treatment of intractable chronic low back pain.

• In April 2023, Synapse Biomedical, Inc. announced the FDA approval (PMA) of the NeuRx Diaphragm Pacing System (NeuRx DPS) for use in patients suffering from spinal cord injuries who rely on mechanical ventilation. PMA is the most stringent type of device marketing application required by the FDA. 

• In December 2022, Abbott received FDA approval for the company’s Eterna spinal cord stimulation (SCS) system, the smallest implantable, rechargeable spinal cord stimulator currently available for treating chronic pain.

• In July 2021, Nevro Corp. received approval from FDA for its Senza System for treating chronic pain associated with Painful Diabetic Neuropathy (PDN). This approval is specific to Nevro’s unique 10 kHz stimulation, and Nevro has the only spinal cord stimulation system approved by the FDA with a specific indication to treat PDN.

• In January 2022, Medtronic plc, a global leader in healthcare technology, has received US Food and Drug Administration approval of its Intellis rechargeable neurostimulator and Vanta recharge-free neurostimulator for the treatment of chronic pain associated with diabetic peripheral neuropathy (DPN).

• In February 2020, LivaNova PLC collaborated with Verily to capture measures of depression within its RECOVER clinical study, which evaluates the effectiveness of Vagus Nerve Stimulation Therapy (VNS Therapy) for Difficult-to-Treat Depression (DTD).