A Market Reports Online report found the global neuromodulation market will expand rapidly through 2021, according to whatech.
Here are six key notes:
1. The market is expected to total $5 billion by 2021.
2. Factors spurring market growing include more adoption of neuromodulation devices, a growing aging population, higher prevalence of diseases relevant to neuromodulation, a surge of global deals and technological advancements.
3. Regulatory standards and compliance, negative social perception of neuromodulation and a lack of skilled neurosurgeons may hinder market growth.
4. Spinal cord stimulation comprises the largest segment in the market, followed by deep brain stimulation.
5. North America dominates the market, with Europe and Japan trailing behind.
6. Medtronic is the largest market player, followed by Boston Scientific and then St. Jude Medical.