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Jaimy Lee, reporter for Modern Healthcare, the industry’s leading source of healthcare business and policy news, research and information, has a piece on the major growth forecast in neurological device market made by iData Research.
The U.S. neurological device market, which has seen several global manufacturers snapping up smaller companies that make neuromodulation devices, is expected to grow by $5 billion over the next five years, a research firm predicts.
That growth will likely come about as a result of an increase in neurological procedures, wider acceptance of neuromodulation, and the development of more advanced technology, notably in the neuromodulation category, according to a new report from iData Research, a Canadian medical-device research firm.
Neuromodulation devices include spinal cord stimulators and deep brain stimulators. Stimulators can be used to treat neurological disorders such as Parkinson’s disease and tremors.
The market leader in three of the five neuromodulation markets is Medtronic, according to iData Research. In August, the Minneapolis-based manufacturer said it would acquire Sapiens Steering Brain Stimulation, a privately held company based in Eindhoven, Netherlands, that is developing deep-brain stimulation technologies.
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