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Neuromodulation Market

Within the neurotechnology sector, the medical device market represents one of the most significant opportunities today. With multiple product categories growing annually at 20 percent or more, this dynamic market includes devices that interact with the nervous system, with neuromodulation representing the largest segment. This segment is expected to grow worldwide from $1.7 billion in revenues in 2008 to $4.6 billion in 2012.1

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 for approved and emerging indications. In 2008, a projected 44,600 spinal cord stimulation devices will be sold in the United States,2 and analysts estimate that this market still remains less than 10 percent3 penetrated.

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.

1 Neurotech Reports. The Market for Neurotechnology, 2008-2012. San Francisco, Calif.: 2007.
2 Millenium Research Group. U.S. Markets for Neuromodulation Devices. Toronto, Ontario: 2006.
3 The Goldman Sachs Group. Americas: Healthcare, Medical Devices. New Your, New York: February 2007.

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