Frost Radar™: Neuromodulation Devices for Neuropsychiatric Disorders, 2025

The increasing burden of neuropsychiatric conditions on healthcare systems and pharmacotherapy challenges including side effects, limited and delayed efficacy, and non-responsiveness calls for alternative solutions that are effective and easy to use. Neuromodulation devices use electrical or magnetic impulses to stimulate nerve activity. They can be implanted or non-invasive in nature. Transcranial magnetic stimulation, transcranial electrical stimulation, deep brain stimulation, and vagus nerve stimulation offer targeted interventions and can be customized to a patient’s unique needs.

There is a shift toward non-invasive and home-based solutions that offer long-term, painless therapy. Non-invasive neuromodulation has no risk of infection, which is common with implants. A standard protocol for operating devices is essential to achieve consistent outcomes across settings. Despite a history dating back to 1960s, neuromodulation as a therapy is still in an emerging phase. The market remains fragmented, with a need for partnerships with regulators, such as the US Food and Drug Administration and European Medicines Agency to develop frameworks; collaboration with payers to develop payment models; and public-private or industry partnerships to develop novel and patient-centric neuromodulation devices.

Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar. The publication presents competitive profiles of each company on the Frost Radar considering their strengths and the opportunities that best fit those strengths.