Neurostimulation Device Market to Witness a 12.9% CAGR in Coming Yearsby Vijay K. Web Marketing
As per the Parkinson’s Disease Foundation, about 7–10 million people suffer from Parkinson’s disease, globally. In the U.S., each year, 60,000 new cases of Parkinson’s disease are reported. Further, epilepsy is one of the most common neurological disorders and affects people of all age groups. The World Health Organization said that about 50 million people across the world suffer from epilepsy, and about 2.4 million people are diagnosed with the condition every year. Chronic pain is associated with these diseases and many other conditions and may even be a result of injuries, which greatly affects the way of life. In a study conducted by the International Association for the Study of Pain, it was reported that about 2.8% of the total diabetic population suffered from peripheral neuropathic pain in 2000, and it is predicted to grow to 4.4% by 2030.
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Neurostimulation devices are programmable, implantable medical devices that provide electrical stimulation to the targeted area. These implantable systems modulate neuronal activity in specific cortical, deep subcortical, cranial, spinal, and peripheral nerve structures, thereby providing relief to the patients.
The demand for these devices was the highest in North America among all the regions, namely Asia, Europe, and Rest of the World. This was attributed to the surging geriatric population and the growing incidence of neurological disorders in the region. Further, the popularity of minimally invasive treatment and the increasing research & development activities in the development of innovative neurostimulation devices have been instrumental in driving the regional market forward. The neurostimulation device market is expected to register a 12.9% CAGR during 2016–2022.
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These devices are used for treating various conditions including depression, gastroparesis, hearing loss, epilepsy, neurologic urinary and fecal incontinence, Parkinson’s disease, and pain management. During 2012–2015, neurostimulation devices were utilized the most for pain management and would continue being their largest application area in the coming years as well. In terms of duration, pain can be chronic or acute. Chronic pains more commonly affect nerves, bones, and the back. These pains can be debilitating, and to treat them, neurostimulation devices are used. These devices work by generating mild electric signals that reach the brain faster than pain signals, and trick the patient into feeling the tingling sensation instead of pain, they block pain signals before they reach the brain, thereby providing relief to patients. Some common pain management devices available in the neurostimulation device market are peripheral nerve stimulation device and SCS device.
Created on Oct 28th 2020 04:21. Viewed 73 times.