Nov. 13, 2002
SAN JOSE, Calif.,
The growing demand for a better quality of life for patients suffering from neurological disorders is encouraging manufacturers to develop new adjunctive therapies. Neurostimulators are based on pacemaker technology and can treat symptoms associated with conditions such as epilepsy, Parkinson's disease, chronic pain, and urinary dysfunction.
New analysis from Frost & Sullivan (http://www.medicaldevices.frost.com ), U.S. Neurostimulation Markets, reveals that this industry generated revenues totaling $337.1 million in 2001. Revenues are expected to triple by 2008, reaching $1,121.8 million.
"A spin off from the understanding of electrophysiology technology developed for pacemakers and defibrillators, neurostimulation is one of the hottest and fastest growing sectors of the medical devices industry, but it remains a niche market," says Frost & Sullivan Industry Analyst Charlie Whelan.
The few companies with commercialized products in the neurostimulation market are all scrambling to expand the indications of their technology to cover new market opportunities.
"In determining which markets to enter, manufacturers must balance the potential for success against the investment required," says Whelan.
One of the most significant applications of the technology could be in the treatment of neuropsychiatric conditions, such as depression, anxiety disorders, and obesity. Though the indications have not yet received approval from the FDA, neurostimulation is also being used to treat chronic headaches, multiple sclerosis, Alzheimer's disease, angina, peripheral vascular disease, and many other conditions.
Neurostimulation is currently indicated for only a small group of patients suffering from conditions that do not respond well to more conservative therapies. However, data has shown that the treatments are effective for properly selected patients. Widespread market adoption is limited by the scarcity of large-scale, published data derived from randomized, controlled- trials and a general lack of awareness about the technology among patients and primary care physicians.
Nonetheless, the clinical benefits of neurostimulation over surgery and drug regimens -- it is less invasive, quickly testable, programmable, localized, and reversible -- are expected to continue to boost market adoption.
Frost & Sullivan will hold a conference call at 1:00 pm (EST)/ 12:00 pm (CST) on Tuesday, November 19, 2002 to provide industry participants an overview of the latest coverage on U.S. Neurostimulation Markets.
Frost & Sullivan is a global leader in strategic growth consulting. This ongoing growth opportunity analysis is part of the Medical Devices Subscription, which also includes market insights on the U.S. Infusion Pumps Market, U.S. CSF Management and Interventional Neuroradiology Markets, and U.S. Neurological Diagnostics/Monitoring Equipment Market. Frost & Sullivan also offers custom growth consulting to a variety of national and international companies. Interviews are available to the press.
U.S. Neurostimulation Markets Report: A295-54
SOURCE Frost & Sullivan
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