Germany Commanded the Largest Share of 27.2% of European Neuromodulation Market in 2014

Date: 2015-08-13

“The European Neuromodulation market is estimated to grow at a CAGR of 13.6% from 2014 to 2019. In 2014, Germany commanded a larger share of around 27.2% of the European neuromodulation market, followed by France. Increasing incidences of peripheral nerve injuries and neurological disorders, technological developments in nerve repair, and favorable reimbursement policies are expected to drive the market growth in this region. However, lacks of surgeons and patient awareness have an adverse effect on the neuromodulation market. 

In this report, the European neuromodulation market is broadly classified on the basis of procedure type and modality. The procedure segment is classified into internal stimulation and external stimulation. Based on modalities, the neuromodulation market is categorized into spinal cord stimulation, deep brain stimulation, vagus, nerve stimulation, sacral nerve stimulation, gastric electric stimulation, transcutaneous electrical nerve stimulation (TENS), and transcranial magnetic stimulation (TMS).

Geographically, the market is divided into six countries, namely Germany, France, the U.K., Italy, Spain, and the RoE. Germany commanded the largest share of 27.2% of the European neuromodulation market in 2014, followed by France. The market in Germany is estimated to grow at a CAGR of 13.9% during the forecast period. 

Neuromodulation is one of the largest and fastest-growing segments of the global medical devices market. The number of novel neuromodulation devices approved by the FDA grew 35% in 2007, promising new neuromodulation therapies for diverse disorders such as migraine, obesity, obsessive compulsive disorder, and depression. Advances in neuromodulation therapies are multi-disciplinary, requiring the close collaboration of neuroscientists, engineers, and clinicians to reach fruition.

The report has profiled the leading players in this market along with their developments (new product launches and partnerships, agreements, collaborations, and joint ventures) over the past few years and strategies adopted by them to sustain and strengthen their position in the European neuromodulation market. Boston Scientific (U.S.), Cyberonics (U.S), Medtronic, Inc. (U.S.), Depuy Synthes (Johnson & Johnson) (U.S.), and St. Jude Medical Inc. (U.S.) are some of the key players engaged in this market.

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