Global neuromodulation market to grow by $6.21b until 2028

It is expected to witness a 12.57% CAGR within the forecast period.

The global neuromodulation market is expected to grow by $6.21b until 2028 at a compound annual growth rate (CAGR) of 12.57%, according to Technavio.

The report revealed that the market is driven by the growing geriatric population with a trend towards increasing neurology funding.

“Governmental backing, insurance coverage, and patient-centric solutions are shaping the market landscape,” the report said.

Moreover, advanced technologies such as deep brain stimulation (DBS), spinal cord stimulation (SCS), and functional neuromodulation are being examined, with miniaturised devices and personalised treatment options as key market trends.

However, affordability poses a challenge to the market’s further expansion.

“In developed and developing countries, the high cost of neuromodulation devices, including pulse generators, DBS surgeries, and SCS systems, hinders widespread adoption,” The report added.