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MedTech Outlook | Tuesday, October 04, 2022
GlobalData estimates that the neuromodulation market will reach $10.7 billion in 2030 and $6.8 billion in 2021.
FREMONT, CA: Neuromodulation is one of the most rapidly expanding areas for medical devices. Abbott's deep brain stimulation (DBS) system for treatment-resistant depression has gained breakthrough designation from the FDA, expanding the scope for neuromodulation devices. According to an analysis by GlobalData, the global neuromodulation market was worth $6.8 billion in 2021 and will reach $10.7 billion by 2030, expanding at a 5.2 percent compound annual growth rate (CAGR).
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The neuromodulation industry will expand as therapeutic areas grow. Currently, the market for neurological illnesses concentrates on refractory individuals. However, the market is turning to focus on other indicators, such as depression. DBS devices often treat movement disorders such as Parkinson's disease and essential tremors by providing electrical stimulation to particular brain targets via surgically implanted electrodes. Abbott is exploring the safety and efficacy of utilizing DBS to manage mood in patients with treatment-resistant depression after earning breakthrough device designation from the FDA. The breakthrough device designation will enable priority review for device development and assessment to expedite access to devices for patients and healthcare providers. In 2021, there were around 53,8 million people with major depressive illness in eight major markets (US, France, Germany, Italy, Spain, UK, Japan, and Canada), per GlobalData's epidemiology report. Between 30 and 40 percent, or 17.9 million patients, do not react to pharmaceutical therapy. After further investigation, DBS systems may offer a novel therapeutic option for people with treatment-resistant depression.
The neuromodulation market is trending toward the early-onset patient group. Using the subthalamic nucleus, DBS in early-stage Parkinson's disease, a pilot clinical trial at Vanderbilt University Medical Center reported five-year outcomes. It demonstrates that implantation of DBS in early-stage Parkinson's disease reduces the probability of disease progression and polypharmacy compared to optimal medical therapy alone. In 2021, the FDA designated the Vercise DBS system from Functional Neuromodulation as a breakthrough product for treating individuals with probable mild Alzheimer's disease. ADvance II is now enrolling up to 210 patients in the United States, Canada, and Germany in a double-blind, randomized, controlled trial. With higher procedural success rates, a greater knowledge of the stimulation mechanism, and excellent clinical trial outcomes, GlobalData anticipates that the market will penetrate early-onset neurological illnesses to improve patient quality of life before deterioration.
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