Neuromodulation represents one of the most significant market opportunities in the medical device industry today. With multiple product categories growing annually at 20 to 30 percent, this dynamic market generated over $704 million in 2002 and is expected to exceed the billion-dollar mark by 2005.

The neuromodulation market is characterized by few competitors, high technology, and substantial barriers to entry. In addition, it is a sizeable and highly under-penetrated market with a target population of several million patients with approved and emerging indications. In 2000, only 60,000 procedures were performed, indicating a clear under-penetration of neuromodulation therapies.

Advances in technology, procedural techniques, consumer advocacy, and demographics are converging to accelerate the use of neuromodulation. Pain management is receiving increasingly more attention and has emerged as a national agenda item.