Neurostimulator Device Market Trends

Growth Drivers

• Increasing Elderly Population – Growing ageing populations are a result of longer life expectancies and lower birth rates. On account of more people surviving to later ages, the prevalence of dementia cases will actually rise in the coming years. As per recent estimates, by 2060, there will be more than 90 million Americans over the age of 65.

• Rising Prevalence of Neurological Disorders – The increase in diseases affecting the body's central nervous system, which includes the brain, spinal cord, and nerves, is caused by a number of reasons, including ageing and increasing environmental pollution. According to research including more than 60 million older Americans found a strong link between air pollution and an increased risk of hospital admissions for a number of neurological illnesses, such as Alzheimer's disease, Parkinson's disease, and other dementias.

• Growing Demand for Minimally Invasive Surgeries – Minimally invasive procedures are growing in popularity as a result of ongoing advancements in the medical field, particularly in the neurological field, as neurosurgery is a very complicated surgery. These procedures have advantages such as quicker recovery, smaller incisions, less pain and scarring, increased accuracy, and shorter hospital stays. In 2018, more than 15 million minimally invasive cosmetic operations were performed in the US.

• Surging Rate of Lifestyle-Related Disorders –Our daily lives include a range of nerve control and mental stress. For instance, nutrition, cognitive stimulation, physical exercise, and stress management are few of lifestyle choices that impact on brain health and quality of life. Increasing consumption of drugs and alcohol, physical inactivity, and a poor diet may all raise chances of getting certain diseases later in life. As per the World Health Organization, around 70% of all deaths worldwide are caused by lifestyle-related diseases.

Challenges

• Adverse effects such as an allergic reaction owing to the implantation of a neurostimulator device in the body - The possibility of such danger occurs as spinal cord stimulation requires putting a device into the patient’s body. There are situations when medical intervention is insufficient, and the generator and lines must be completely removed surgically. The components of a spinal cord stimulator might cause an allergic response in a patient. The Consequences that may result from stimulation include, sensations of numbness or tingling, having face- or arm-related muscle tension, communication issues, problems with balance, lightheadedness, and others.
• Exorbitant cost of neurostimulator equipment
• Existence of other treatment options, such as drug therapies and surgeries