Global Market for Neuromodulation Devices to Grow to $6.8 Billion by 2017
1/15/2013 8:18:57 AM
A new market report from MarketsandMarkets, a Dallas-based market research firm, is projecting that the global market for neuromodulation devices is set to grow to $6.8 billion by 2017. Another report from October estimated that this same market will increase to $7.07 billion in 2018. Neuromodulation devices, whether implanted or external, treat certain diseases by sending mild electrical pulses and/or drug infusion to a target nerve. The report notes that thisis the fastest-growing segment of the broader medical devices sector driven by higher demand for less invasive and minimally invasive alternatives to the treatment of chronic pain, epilepsy, obesity, urinary incontinence and stroke and brain injury among other conditions. An aging population together with the rise of age-related diseases like Alzheimer’s, epilepsy, Parkinson’s disease and spinal cord injury is fueling the market.