NEW YORK, USA, Sept. 05, 2022 (GLOBE NEWSWIRE) — The global market value for neuromodulation devices was US$6.10 billion in 2021 and will reach US$14.16 billion in 2030 with a CAGR of 10.29%. Neuromodulation refers to the process of modifying, regulating, or therapeutically altering electrical or chemical activities in the central, peripheral, or autonomic nervous system. Several factors accelerating the market growth are the continuous increase in the cases of neurological disorders, respiratory problems, the increase in government funding for the technological development of neuromodulation devices, etc.
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Neuromodulation Devices Market Insights:
- The spinal cord stimulators segment clearly dominated with a share of 40.78% for the product type area.
- Overall, the Parkinson’s segment dominated with a share of 30.12% in the area of application.
- In the end user segment, the ASCs and hospital segment dominated with a share of 81.23%.
- Regionally, North America dominated with a market share of 45.22%.
factors that accelerate it neuromodulation Device Market GRow:
(Increasing cases of neurological disorders, respiratory problems and significant government funding for neuromodulation device technology development are driving global growth rate)
- A continuous increase in the increasing number of neurological diseases worldwide is the main reason behind the growth of the market. The WHO reported that nearly 1.1 billion people (ie about 13.75% of the world’s population) are currently suffering from neurological disorders ranging from Parkinson’s disease to Alzheimer’s, sclerosis, stroke, migraine etc. SMR’s study found that ischemic strokes are the most common neurological disorder around the world. Almost 87% of all strokes occurring worldwide are ischemic…
