7 October 2011. London, UK. A new report by visiongain, a London-based business information provider, predicts that the global neuromodulation devices market will be worth $11.61bn by 2021. The market generated sales of $2.70bn in 2010, according to Neuromodulation Devices: World Market Prospects 2011-2021, published in October 2011.
Neuromodulation is a rapidly evolving medical technique that provides symptomatic relief either through targeted drug delivery or electrical stimulation. Small electrical devices or drug pumps are surgically implanted. Electrical signals are generated by a pulse generator and sent through electrode wires to either provoke a biological response or release a small dose of a therapeutic agent. The technique has been approved for use in some movement disorders, psychiatric disorders and chronic pain, and is currently undergoing investigation for use in other indications, such as obesity, migraine and heart failure. The neuromodulation devices market is a small, emerging market at present, but one of the fastest growing segments in the medical devices market.
Hemant Mistry, healthcare industry analyst, says: "The market for neuromodulation devices will see strong growth in coming years, driven by a rise in age-related diseases, approval of innovative devices, and increased patient adoption of existing and newly-marketed products. The concept of neuromodulation as a therapeutic option for patients is not new, but has only started to garner interest, owing to patient's increased dissatisfaction with pharmacological intervention (high level of side effects, intolerance)".
Visiongain's research suggests that the world neuromodulation devices market will benefit from extensive research into the mechanisms behind the technology. An understanding of the mechanism by which neuromodulation therapies exert their effect will lead to the development of more effective and innovative devices. Additionally, there is an imperative need for the medical device companies to increase awareness amongst the patients about neuromodulation devices; this will lead to an increased patient adoption. Furthermore, improvements within the FDA (Food and Drug Administration) to make the device approval process clearer and more efficient will see more innovative devices being granted market approval.
Visiongain predicts that this market will grow rapidly to 2021. The future of the neuromodulation market appears promising and has significant potential for growth and investment, with the increasing demand for safer, less invasive therapies. This new report adds to visiongain's wide range of analytical reports in healthcare and other industry areas.
To view sample pages please visit http://www.visiongain.com/Report/693/Neuromodulation-Devices-World-Market-Prospects-2011-2021
For an exec summary please email Sara Peerun
Email: sara.peerun@visiongainglobal.com
Tel: +44 0207 3366100
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Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100
About visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-2-business conferences, newsletters, management reports and e-zines focusing on the Energy, Telecoms, Pharmaceutical, Defence, Materials sectors.
Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional, who needs independent, high quality, original material to rely and depend on.