The Neuromodulation Devices market was valued at $6.8 billion globally in 2021, and will reach $10.7 billion in 2030, at a compound annual growth rate (CAGR) of 5.2%. The large prevalence of neurological conditions impacting the aging population is a significant driver of the market, according to GlobalData, a leading data and analytics company.

Neuromodulation Devices are specialized surgical devices used for the treatment of disease or conditions of the Central Nervous System (CNS) and spine.

GlobalData’s latest report, ‘Neuromodulation Devices Market Size (Value, Volume, ASP) by Segments, Share, Trend and SWOT Analysis, Regulatory and Reimbursement Landscape, Procedures, and Forecast, 2015-2030’, reveals that North America holds the largest share of the market. Asia-Pacific (APAC) is one of the fast-growing regions as there are still many emerging and developing markets in the APAC region where patients do not necessarily have access to basic healthcare. The market is segmented into six main categories: Deep Brain Stimulators (DBS), Spinal Cord Stimulators (SCS), Vagus Nerve Stimulators (VNS), Sacral Nerve Stimulators (SNS), Gastric Electric Stimulators (GES), Peripheral Nerve Stimulators (PNS) and Leads.

Tina Deng, MSc, Principal Medical Devices Analyst at GlobalData, comments: “One of the most interesting developments in the Neuromodulation Devices market has been the application of DBS systems to treat depressive disorders. DBS systems are commonly used to treat movement disorders such as Parkinson’s disease and essential tremor by sending electrical stimulation through surgically implanted electrodes to specific targets in the brain, but they may provide a new option to treat patients with treatment-resistant depression after further research.”

According to GlobalData’s epidemiology analysis, there were over 53.8 million people with major depressive disorder in the eight major markets (8MM*) in 2021. Around 30% to 40% of them—17.9 million patients—do not respond to pharmacological treatments.

Abbott has recently received Food and Drug Administration (FDA) breakthrough designation for its DBS system in treatment-resistant depression, which expands the indication of Neuromodulation Devices. The company is working on evaluating DBS safety and efficacy in regulating mood and reducing the symptoms of treatment-resistant depression.

Additionally, the Vercise DBS system from Functional Neuromodulation received breakthrough device designation from the FDA in 2021 in treating patients with mild probable Alzheimer’s disease. The company’s ADvance II pivotal study is currently enrolling up to 210 patients in a double-blind, randomized, controlled trial in the US, Canada, and Germany.

Deng adds: “Both Abbott and Vercise’s FDA breakthrough device designations will provide priority review of their device development and clinical trials program, providing timely access for healthcare providers to devices showing positive clinical outcomes for patients.”

*8MM: US, France, Germany, Italy, Spain, UK, Japan, and Canada