Neuromodulation Devices Market Poised for Steady Growth, Fueled by Innovation and Rising Surgical Volumes | DelveInsight

The neuromodulation devices market was valued at USD 5.71 billion in 2023 and is projected to grow at a CAGR of 8.95% from 2024 to 2030, reaching USD 9.56 billion by the end of the forecast period. Market growth is largely fueled by the rising prevalence of neurological disorders and the increasing incidence of chronic pain cases. Advancements in research and development, coupled with strategic collaborations among major industry players, are further accelerating adoption. Moreover, the expanding elderly population-more prone to neurological diseases and persistent pain-continues to drive demand, supporting a strong growth outlook for the neuromodulation devices market between 2024 and 2030.

DelveInsight's Neuromodulation Devices Market Insights report provides the current and forecast market analysis, individual leading Neuromodulation Devices companies' market shares, challenges, Neuromodulation Devices market drivers, barriers, and trends, and key Neuromodulation Devices companies in the market.

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Key Takeaways from the Neuromodulation Devices Market Report
The Neuromodulation Devices market is projected to grow at a moderate CAGR from 2025 to 2032.
As per DelveInsight estimates, North America is anticipated to dominate the global Neuromodulation Devices market during the forecast period.
Notable Neuromodulation Devices companies such as Medtronic, Abbott Laboratories, Boston Scientific Corporation, LivaNova PLC, NeuroSigma, Inc., NEVRO CORP., Synapse Biomedical Inc., NeuroPace, Inc., Bioventus, Soterix Medical Inc., Neuronetics Inc., ALEVA NEUROTHERAPEUTICS, Magstim, SPR Therapeutics, Inc., Theranica Bio-Electronics Ltd., electroCore, Inc., Neuros Medical, Magnus Medical, Inc., Integer Holdings Corporation, Mainstay Medical, and several others are currently operating in the Neuromodulation Devices market.
In March 2025, Sooma Medical announced it had received an Investigational Device Exemption (IDE) from the U.S. Food and Drug Administration (FDA) for its transcranial direct current stimulation (tDCS) device, enabling the launch of a pivotal clinical study. Headquartered in Helsinki, Finland, Sooma developed this portable neuromodulation device specifically for depression treatment.
In January 2024, Boston Scientific Corporation revealed a definitive agreement to acquire Axonics, Inc. for USD 3.4 billion, enhancing its neurostimulation portfolio with advanced sacral neuromodulation technologies.
In March 2022, Bioventus secured FDA 510(k) clearance for its next-generation StimRouter® Neuromodulation System, designed for chronic pain management. The system features a thin implanted lead with a conductive electrode, an external electric field conductor (E-EFC), and the StimRouter Plus Mobile Application, offering a minimally invasive therapeutic solution.
In March 2021, Helius Medical obtained FDA approval for its Portable Neuromodulation Stimulator, indicated for the short-term treatment of gait deficits associated with multiple sclerosis.
In January 2021, Boston Scientific Corporation received FDA approval for its fourth-generation Vercise Genus Deep Brain Stimulation (DBS) System, developed to manage symptoms in patients with advanced Parkinson's disease.

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Neuromodulation Devices Overview

Radiofrequency Ablation (RFA) devices use high-frequency electrical currents to generate localized heat, which destroys or ablates abnormal tissue. This minimally invasive technique is widely used in medical treatments such as pain management, tumor destruction, and cardiac arrhythmia correction.

Neuromodulation Devices Market Insights

North America is projected to lead the global neuromodulation devices market throughout the forecast period, driven by a growing patient population with neurological disorders and an uptick in product development initiatives by major industry players. The expanding elderly population in the region also plays a pivotal role in fueling market growth.

According to the Centers for Disease Control and Prevention (CDC), as of April 2023, about 6.7 million Americans aged 65 and older were living with Alzheimer's disease. This number is expected to nearly triple, reaching 14 million by 2060, underscoring the rising burden of neurological conditions in the region.

The CDC also reported in May 2024 that around 3 million people in the United States were affected by epilepsy in 2021. This prevalence has prompted companies to focus on neuromodulation solutions tailored for epilepsy management. For instance, in March 2021, NeuroPace, Inc. received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) for its RNS® System, designed to treat idiopathic generalized epilepsy. The RNS System delivers responsive, targeted neurostimulation directly to the seizure source, serving as an adjunct therapy for adults with drug-resistant focal epilepsy.

These factors-combined with robust R&D efforts and the growing incidence of neurological disorders-are expected to solidify North America's dominant position in the neuromodulation devices market.

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Neuromodulation Devices Market Dynamics

The increasing prevalence of neurological disorders is expected to be a major driver of the neuromodulation devices market, as these devices play a crucial role in their treatment. According to the World Health Organization (WHO), as of March 2024, migraine and other headache disorders impacted 3.1 billion people worldwide in 2021.

In the United States, data from the Parkinson's Foundation (2022) shows that roughly 90,000 new cases of Parkinson's disease (PD) are diagnosed annually, with the total number of affected individuals projected to reach 1.2 million by 2030. As neurological conditions become more widespread, the need for neuromodulation devices is expected to grow, fueling further market expansion.

Similarly, WHO data from June 2023 estimated that 619 million people were living with lower back pain (LBP) in 2020, a number forecasted to rise to about 843 million by 2050, driven largely by population growth and aging. Restorative neurostimulation devices, which repeatedly contract the multifidus muscles to restore strength and stabilize the spine, address this growing burden of chronic pain, further boosting demand.

Industry players are also ramping up research and development to introduce advanced neuromodulation technologies. For example, in April 2024, Magnus Medical, Inc. launched the SAINT neuromodulation system for major depressive disorder, leveraging MRI-based imaging and a proprietary algorithm to precisely target neurostimulation sites. This innovation aims to improve treatment outcomes and the overall effectiveness of depression therapies, contributing to market growth.

However, challenges such as the high cost of neuromodulation devices and potential device-related complications may limit broader adoption, tempering market expansion to some extent.

Neuromodulation Devices Market Drivers:
Growing prevalence of neurological disorders
Rise in numbers of patients suffering from chronic pain

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Scope of the Neuromodulation Devices Market Report:
Coverage: Global
Study Period: 2022 to 2032
Key Neuromodulation Devices Companies: Medtronic, Abbott Laboratories, Boston Scientific Corporation, LivaNova PLC, NeuroSigma, Inc., NEVRO CORP., Synapse Biomedical Inc., NeuroPace, Inc., Bioventus, Soterix Medical Inc., Neuronetics Inc., ALEVA NEUROTHERAPEUTICS, Magstim, SPR Therapeutics, Inc., Theranica Bio-Electronics Ltd., electroCore, Inc., Neuros Medical, Magnus Medical, Inc., Integer Holdings Corporation, Mainstay Medical, and others.

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