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    MEA Neuromodulation Market Size Estimated to Reach $1.6 Billion by 2027
    (I-BusinessNews.Com, March 16, 2022 ) MEA Neuromodulation Market size is estimated to reach $1.6 billion by 2027, growing at a CAGR of 10.8% during the forecast period 2022-2027. Neuromodulation is "the alteration of nerve activity through targeted delivery of a stimulus, such as electrical stimulation or chemical agents, to specific neurological sites in the body". It is performed to order or standardize nervous tissue function. In spinal cord stimulation technology (SCS technology), gentle electric currents exercised to the spinal cord by way of tiny medical devices modulate pain signals and in certain settings substitute the feeling of pain with a gentle tingling termed paraesthesia. SCS technology is backed by a long clinical history, showing a considerable minimization in torturous pain (50% or greater decrease) in nearly all patients. SCS technology is an internal neuromodulation technique. Neuromodulation, a new therapeutic modality, which targets alternating nerve activity by way of a targeted transfer of a stimulus, has risen as a possible alternative in tinnitus treatment. Acetylcholine serves the role of a neuromodulator in the brain changing neuronal emotion, affecting synaptic transmission, activating synaptic plasticity, and matching the firing of groups of neurons. Acetylcholinesterase is the basic cholinesterase in the body. Neuromodulation by transcranial focused ultrasound (FUS) provides the possibility to non-invasively treat particular brain regions, with treatment location confirmed by magnetic resonance acoustic radiation force imaging (MR-ARFI). An extensive clarification of cholinergic neuromodulation is not yet feasible, given the huge count of behaviors, circuits, neuronal subtypes, and cholinergic receptors in the brain.



    The increasing application of neuromodulation in the treatment of conditions like Parkinson’s disease is set to drive the MEA Neuromodulation Market. The surging initiatives of governments to boost awareness by way of educational drives regarding neuromodulation technologies like SCS technology are set to propel the growth of the MEA Neuromodulation Market during the forecast period 2022-2027. This represents the MEA Neuromodulation Industry Outlook.



    The increasing application of neuromodulation in the treatment of conditions like Parkinson’s disease is set to drive the MEA Neuromodulation Market. The surging initiatives of governments to boost awareness by way of educational drives regarding neuromodulation technologies like SCS technology are set to propel the growth of the MEA Neuromodulation Market during the forecast period 2022-2027. This represents the MEA Neuromodulation Industry Outlook.



    MEA Neuromodulation Market Segment Analysis – By Technology:



    The MEA Neuromodulation Market based on technology can be further segmented into Internal Neuromodulation and External Neuromodulation (Non-Invasive). The Internal Neuromodulation Segment held the largest market share in 2021. This growth is owing to the increased application of spinal cord stimulation technology (SCS technology) in the treatment of extensive chronic back pain. The proliferating application of deep brain stimulation technology (DBS technology) for pain-alleviation, epilepsy, tremors, Parkinson’s disease, and dystonia, and some psychiatric ailments like Tourette syndrome, obsessive-compulsive disorder, and depression is further propelling the growth of this segment.



    Furthermore, the External Neuromodulation (Non-Invasive) segment is estimated to grow with the fastest CAGR of 11.5% during the forecast period 2022-2027 owing to the increased application of non-invasive neuromodulation for handling ailments connected to COVID-19 in conjunction with increased usage of neuromodulation techniques like SCS technology.



    MEA Neuromodulation Market Segment Analysis – By Application:



    The MEA Neuromodulation Market based on the application can be further segmented into Chronic Pain, Parkinson’s Disease, Depression, Dystonia, and Others. The Chronic Pain Segment held the largest market share in 2021. This growth is owing to the soaring application of internal neuromodulation techniques like SCS technology for treating chronic pain. Neuromodulation instruments perform by transferring mild electrical impulses to the spinal cord or peripheral nerves, assisting in the reduction of pain by barring pain signals from arriving at the brain. These determinants are further propelling the growth of this segment.



    Furthermore, the Parkinson’s Disease segment is estimated to grow with the fastest CAGR of 11.7% during the forecast period 2022-2027 owing to the surging application of deep brain stimulation technology (DBS technology) as a therapeutic modality for the treatment of Parkinson’s disease wherein electrical impulses are transferred to a targeted area of the brain accounting for the movement symptoms or motor symptoms brought about by Parkinson’s disease.



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    MEA Neuromodulation Market Segment Analysis – By Country:



    The MEA Neuromodulation Market based on the country can be further segmented into Kuwait, Qatar, Kingdom of Saudi Arabia, United Arab Emirates, South Africa, Nigeria, Egypt, and the Rest of the Middle East And Africa. South Africa (MEA Neuromodulation Market) held the largest share of the overall market in 2021. The growth of this region is owing to the expanding predominance of neurological ailments and the rising population of the elderly. There is increasing inclination among key players in the internal neuromodulation implants sector to turn the South African region into an emerging market owing to the enhanced healthcare facilities available in the region. The surging application of novel neuromodulation technologies like SCS technology and the extensive operation of key players like Aleva Neurotherapeutics SA in the deep brain stimulation (DBS) modality is further propelling the growth of the MEA Neuromodulation Market in the South African region.



    Furthermore, the Kingdom of Saudi Arabia region is estimated to be the region with the fastest CAGR of 12.1% over the forecast period 2022-2027. This growth is owing to factors like enhanced awareness of neuromodulation and increased application of progressive neuromodulation technologies like SCS technology. Sacral neuromodulation (SNM) is FDA-approved therapy for lower urinary tract and bowel dysfunction and it is newly launched in Saudi Arabia. The extensive operations of Cyberonics, Inc. (U.S.) (part of LivaNova now) and Dynatronics Corporation (U.S.) in the vagus nerve stimulation modality is further fuelling the progress of the MEA Neuromodulation Market in the Kingdom of Saudi Arabia region.



    MEA Neuromodulation Market Drivers



    Increased Application Of SCS Technology In Neuromodulation Is Projected To Drive The Growth Of MEA Neuromodulation Market:



    The application of neuromodulation for pain alleviation is among the fastest-growing fields of medicine, including numerous different attributes and influencing innumerable patients with abundant ailments globally. With the enhancement in proof of efficiency, the focus on SCS technology (Spinal Cord Stimulation technology) will heighten owing to its benefits like being minimally invasive, secure, and a reversible treatment modality with restricted side effect profile. There are numerous developed indications for the application of SCS technology like neuropathic back and leg pain, complex regional pain syndrome, spinal cord injury, and ischemic pain (vascular and angina pectoris). There is an increasing database of clinical-based proof to back the utilization of SCS technology. The rising use of SCS technology in neuromodulation is fuelling the growth of the MEA Neuromodulation Market during the forecast period 2022-2027.



    Technological Enhancements Are Expected To Boost The Demand Of MEA Neuromodulation:



    Technological enhancements have been significant and present neuromodulation developments have been twinned with the accelerated development of the neuromodulation device industry leading to the development of the next-generation neuromodulation systems. Exceptional technological progress has been accomplished in terms of electrode contact/lead design. Foremost, the novel multi-contact arrays accessible in conventional and five-column paddle leads (developed by St. Jude Medical, Inc, USA) have led to the capability to offer the enhanced programmable ability and likely treatment result. Mathematical modeling has featured the possible gains of tight-electrode spacing in electrode contact design whereby breaks in stimulation are averted (developed by Boston Scientific Neuromodulation, Valencia, Calif, USA). Initially, SCS technology included only a single channel, which implied that the stimulator had only one cathodal voltage output and one anodal voltage output, each one being linked to one or more lead contacts. Currently, multichannel systems have been built. (developed by Boston Scientific Neuromodulation, Valencia, Calif, USA). These kinds of technological enhancements are driving the growth of the MEA Neuromodulation Market during the forecast period 2022-2027.



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    MEA Neuromodulation Market Challenges



    Industry Challenges In The Neuromodulation Field Are Hampering The Growth Of The MEA Neuromodulation Market:



    There are restrictions in funding impelled by inconstant performance and outcomes. Some key players to have experienced this are Boston Scientific for heart failure and Cyberonics, now part of LivaNova, for depression. There needs to be increased focus on the essential learnings to enhance success or to not fail quickly. The long clinical investigations and prolonged regulatory procedures may diminish the excitement for financing and innovation. Reimbursement challenges may be encountered. Implantable neuromodulation therapies are conventionally indicated for drug-refractory treatment-resistant patients. It is challenging to treat the patient population of diverse etiologies, phenotypes, patient physiology, co-morbidities, and so on. These issues are hampering the growth of the MEA Neuromodulation Market.



    MEA Neuromodulation Industry Outlook



    Product innovation in neuromodulation devices, technological advancements in neuromodulation technologies, geographical expansion, R&D activities, mergers and acquisitions, partnerships, collaborations, approvals, and joint ventures are key strategies adopted by players in the MEA Neuromodulation Market. MEA Neuromodulation top 10 companies include:



    Medtronic, Middle East, And Africa



    Boston Scientific Corporation, Middle East, And Africa



    Abbott Laboratories, Middle East, And Africa



    Synapse Biomedical Inc., Middle East



    Aleva Neurotherapeutics SA



    NeuroPace, Inc., Middle East, And Africa



    NeuroSigma, Inc., Middle East, And Africa



    LivaNova PLC, Middle East, And Africa



    Neuronetics



    Nevro Corporation



    Acquisitions/Product Launches:



    In October 2021, Medtronic declared the introduction of the earliest-ever Open Innovation Platform in Asia-Pacific (APAC). The Open Innovation Platform will allow Medtronic to examine and accelerate partnership opportunities that may assist in influencing Artificial Intelligence (AI) and automation to focus on patient requirements. Medtronic is arranging to invest up to US$50 million over a duration of five years, beginning from FY 22, to back capacity, growth of talent, and technology.



    In May 2021, Medtronic declared the U.S. commercial introduction of the SonarMed airway monitoring system. The system uses acoustic technology to investigate endotracheal tube (ETT) impediments and confirm position in real-time. 415,000 neonates and infants need invasive mechanical ventilation per year worldwide and are intubated for more than 24 hours. In spite of endorsements and minimization endeavors, 75,000, or around one in five, of these neonates and infants will experience at least one unplanned extubation (UE).



    In October 2020, Medtronic declared the introduction of the Azure™ pacemaker with BlueSync™ technology, India’s earliest and only pacemaker that may convey directly with the smartphones and tablets of patients. The most recent inclusion to the Cardiac Rhythm & Heart Failure Portfolio of Medtronic in India, Azure is planned to precisely discover and minimize the possibility of atrial fibrillation. Azure is characterized by Medtronic-exclusive BlueSync Technology which allows automatized, safe wireless communication through Bluetooth Low Energy and remote supervision through the Medtronic CareLink™ Network.



    Key Takeaways



    By country, South Africa (MEA Neuromodulation Market) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of neurological ailments and accelerated medical advancements including neuromodulation technologies like SCS technology in the South African region.



    MEA Neuromodulation Market growth is being driven by the proliferating utilization of neuromodulation in handling chronic pain issues and the establishment of progressive neuromodulation technologies like SCS technology. However, the dearth of a skilled workforce and unsupportive reimbursement policies are some of the major factors hampering the growth of the MEA Neuromodulation Market.



    MEA Neuromodulation Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the MEA Neuromodulation Market report.



    Related Report:



    Neurotechnology Market

    https://www.industryarc.com/Report/19124/neurotechnology-market



    For more Lifesciences and Healthcare Market reports, please click here



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