NEUROMODULATION DEVICES MARKET ANALYSIS

Neuromodulation Devices Market, by Device Type (Spinal Cord Stimulation Devices, Deep Brain Stimulation Devices, Sacral Nerve Stimulation Devices, Vagus Nerve Stimulation Devices, and Gastric Electric Stimulation Devices), by Application (Pain Management, Neurological and Movement Disorder Management, Musculoskeletal Disorder Management, Metabolism and GIT Management and Others (Incontinence Management, etc.)) by End User (Hospitals, Ambulatory Surgical Centers, Specialized Clinics, and Others (Nursing Facilities, etc.)) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) -

Published In : Jun 2023
Code : CMI3861
Pages :170
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges And Opportunities

Global Neuromodulation Devices Market - Driver

Increasing distribution agreements among key market players

On March 22, 2023, Helius Medical Technologies, Inc., a neurotech company, and HealthTech Connex Inc., a biotechnology company, entered an exclusive distribution agreement for the Portable Neuromodulation Stimulator (PoNS) device. This agreement granted HealthTech Connex Inc. the exclusive right to purchase, market, sell, and distribute Helius’s PoNS device throughout the metropolitan Vancouver and Fraser Valley regions of British Columbia, Canada, subject to established minimums.

Restraints & Challenges:

Increasing product recall by regulatory authorities

Global Neuromodulation Devices Market: Restraint

Increasing product recall by regulatory authorities can hinder the market growth which can be balanced by product launch by key market players

Increasing product recall by regulatory authorities is expected to hinder the market growth over the forecast period. For instance, in December 2019, LivaNova, a medical technology company, announced that the U.S. Food and Drug Administration (FDA) recalled Vagus Nerve Stimulation (VNS) device as FDA received 14 reports of rest errors that caused the neuromodulation system to stop delivering treatment