Neuromodulation is used to regulate functions of nervous system, such as therapeutic alteration, inhibition, stimulation, modification, and others. There are two types of neuromodulation external neuromodulation and internal neuromodulation. Internal neuromodulation block or repair neuron signals of pain from reaching the brain using electrical impulses. These devices reduce highest levels of pain for various chronic or refractory diseases. Its clinical significance in pain reduction and therapeutics has lead a wide acceptance in the North American region.The driving factors of the North American internal neuromodulation market are rising prevalence of neurological disorders, increase in the aging population, strong product pipeline, expanded target applications & new indications, and investments and funds. Unfavorable reimbursement scenario and lack of trained professionals are factors restraining the growth of the market. Technological advancements present opportunities for growth of the market.
The North American internal neuromodulation market is segmented into type, application, and geography. The market is further classified based on type into spinal cord, deep brain, sacral nerve, vagus nerve, gastric neuro stimulator. Based on applications, the market is further categorized into Parkinsons disease and chronic pain. The market is segmented based on geography into U.S., Canada, and Mexico.
The prominent companies operating in the market are Medtronic PLC, St. Jude Medical, Boston Scientific Corp., Cerbomed GMBH, Cyberonics Inc., Biocontrol Medical, Depuy Synthes Companies, Enteromedics INC., Synapse Biomedical INC., Uroplasty Inc., and Greatbatch. They have implemented various strategies, such as mergers & acquisitions, partnerships, agreements, new product launches, and others to gain a strong foothold of the market.
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