Global Neurostimulation Device Market Size, Share, Growth and Future Scope

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Global Neurostimulation Device Market to Witness a 12.9% CAGR in Near Future.

NEW YORK - eTradeWire -- 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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A neurostimulation device is made of three basic components — a generator, leads, and a programmer. A generator is responsible for sending electrical impulses to the leads; it is implanted in the posterior pelvic region or in the abdominal area. Leads carry electrical impulses from the generator to the nerves of the spinal cord. To block the pain signals, the leads are inserted into the epidural space. The last component is the programmer, which is a handheld device that helps in the adjustments of electrical signals as per the patient's requirement. The whole set up comprises a neurostimulation device, which helps in pain management and studying of the brain activity.

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.

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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 (http://www.psmarketresearch.com/market-analysis/neurostimulation-devices-market) is expected to register a 12.9% CAGR during 2016–2022.

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Vijay Kumar
***@psmarketresearch.com


Source: P&S Intelligence
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Filed Under: Health

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