Neurostimulation and Neuromodulation Becoming Preferred Chronic Pain Treatments

According to the Parkinson’s Disease Foundation (PDF), this neurodegenerative disease affects nearly 7–10 million people globally. The foundation also estimates that around 60,000 new cases of this disease are reported in the U.S. each year. The PDF further states that epilepsy is also a common neurological disorder of the brain, affecting people of all age groups. Additionally, the World Health Organization (WHO) reports that nearly 50 million people are currently affected by epilepsy and approximately 2.4 million new cases are reported every year, worldwide.

Thus, the rising prevalence of such neurological diseases along with Alzheimer’s disease, depression, and fecal incontinence will accelerate the nerve repair and regeneration market at 11.9% CAGR during 2017–2023. Incidence of such disorders is increasing at a significant rate, on account of the rising population of the elderly. The aged pool is most likely to be affected by these diseases, due to weak immune system. For instance, according to the World Population Aging Report 2019, the population size of individuals aged 65 years and above will be 1.5 billion by 2050.

Among the different types of neurostimulation and neuromodulation devices, medical professionals mostly rely on external neurostimulation devices, such as transcranial magnetic stimulation (TMS) and transcutaneous electrical nerve stimulation (TENS). These devices deliver stimulation through electrodes, which are applied externally. Additionally, the medical facilities also use biomaterials like nerve connectors, nerve conduits, nerve wraps, and nerve protectors, to treat neurological disorders and chronic pain related to these diseases.

According to P&S Intelligence, North America is the frontrunner in the nerve repair and regeneration market, wherein the U.S. has emerged as the leader. This is attributed to the rising cases of peripheral nerve injuries and availability of technologically advanced products in the region. Whereas, the European market has been led by Germany, followed by France and the U.K. On the other hand, the Asia-Pacific (APAC) market is expected to exhibit the fastest growth in the foreseeable future, due to the surging incidence of neurological disorders and escalating geriatric population in the region.

Thus, the increasing prevalence of epilepsy, Parkinson’s disease, fecal incontinence, Alzheimer’s disease, and depression will amplify the application of nerve repair and regeneration devices in the foreseeable future.