How is Rising Incidence of Neurological Conditions Driving Neurostimulation Device Industry Forward?

 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.

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.

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This Study Covers

• Historical and the present size of the neurostimulation device market

• Major factors driving the market and their impact during the short, medium, and long terms

• Market restraints and their impact during the short, medium, and long terms

• Recent trends and evolving opportunities for the market participants

• Historical and the present size of the market segments and understand their comparative future potential