The global neuromodulation devices market was valued at approximately USD 5.80 billion in 2024 and is projected to reach USD 10.39 billion by 2030, with an expected compound annual growth rate (CAGR) of 8.51% from 2025 to 2030. The rising prevalence of chronic pain, neurological disorders, and mental health conditions is anticipated to drive demand for effective and innovative treatment solutions.

 

Government funding is crucial in advancing the understanding and treatment of neurological disorders. By allocating financial resources to research initiatives, governments support significant discoveries, foster technological innovation, and encourage the development of more effective neuromodulation technologies. Such investments play a vital role in transforming the landscape of neurological disorder treatments and enhancing patient care. For example, data released by the National Institute of Neurological Disorders and Stroke (NINDS) in December 2023 indicated that research into Parkinson’s Disease (PD) received about USD 125 million in funding from NINDS, contributing to a total of USD 259 million allocated by the National Institutes of Health (NIH) for PD research. This substantial financial commitment highlights the focus on advancing research, diagnosis, treatment, and overall management of PD.

 

Increased government funding not only accelerates scientific advancements but also fosters collaboration between researchers, medical professionals, and technology developers, all aiming to improve the quality of life for individuals with neurological disorders. Moreover, public support can enhance the accessibility of neuromodulation technologies by lowering costs, improving insurance coverage, or providing subsidies for related expenses.

 

Key Market Trends & Insights

  • North America: The neuromodulation devices market dominated this region, holding a share of 43.68% in 2024.
  • S. Market: The U.S. neuromodulation devices market captured a significant portion of the overall market in 2024.
  • Product Segment: Spinal cord stimulators represented the largest market share, accounting for approximately 39.67% in 2024.
  • Application Segment: Parkinson’s Disease held the largest share by application, contributing around 26.90% in 2024.

 

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Market Size & Forecast

  • 2024 Market Size: USD 5.80 Billion
  • 2030 Projected Market Size: USD 10.39 Billion
  • CAGR (2025-2030): 8.51%
  • North America: Largest market in 2024

 

Key Companies & Market Share Insights

Key players in the market are concentrating on launching innovative products, pursuing acquisitions, and advancing technologies. For example, in November 2023, Boston Scientific Corporation completed the acquisition of Relievant Medsystems Inc., the developer of the Intracept Intraosseous Nerve Ablation System. This system is the only FDA-cleared therapy for treating vertebrogenic pain, a specific form of chronic low back pain. Such advancements in the neuromodulation devices market are expected to significantly contribute to market growth during the forecast period.

 

Key Players

  • Abbott
  • Medtronic
  • Boston Scientific Corporation
  • Nexstim
  • LivaNova PLC
  • Neuropace Inc.
  • Nevro Corporation
  • electroCore, Inc.
  • Axonics, Inc.
  • Laborie

 

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Conclusion

The neuromodulation devices market is on an upward trajectory, driven by the increasing incidence of chronic pain and neurological disorders. Significant government investments in research and development are enhancing treatment options and accessibility for patients. As key players continue to innovate and expand their offerings, the market is expected to experience robust growth in the coming years.