Ground-breaking technological innovations and increasing neurological procedure growth will drive the U.S. Neuromodulation market, reports iData Research.
According to a new report series by iData Research (www.idataresearch.com), the leading global authority in medical device market research the U.S. Neuromodulation, Neurovascular, Neurosurgical and Monitoring Device Market will grow to over $5 billion by 2020. This growth will be fuelled by favourable reimbursement, increasing neurological procedure growth and extensive technological advancement, especially in the area of Neuromodulation.
Hydrocephalus can result when absorption of fluid into the bloodstream is hindered, resulting in an accumulation of cerebrospinal fluid (CSF). This condition can result in an increased intracranial pressure inside of the skull, tunnel vision, mental disability, progressive enlargement of the head and it may even cause death. “CSF leakage occurs in 2% to 3% of all head injuries, thus making it a prevalent condition in the hospital emergency room,” says Dr. Zamanian, CEO of iData. In 2013, there were close to 58,000 cerebrospinal fluid (CSF) shunting procedures performed in the U.S.
Hydrocephalus is treated surgically by the insertion of a shunt – a flexible, plastic tube with a one-way valve – into the ventricular system of the brain. The market for shunts represents an opportunity for innovation as companies attempt to curb the high failure rate wherein an estimated 40% of shunts fail within 2 years. The market for shunts is increasing due to growth in procedures and more importantly a shift towards pressure adjustable shunts, which cost nearly four times the cost of a fixed pressure shunt.
Other key findings from the iData Research 2014 Neurological Report:
- Deep Brain Stimulation: Used as a treatment for treatment-resistant movement and affective disorders such as Parkinson’s disease, tremors and dystonia. Currently, Medtronic is the only competitor within this market. The expected entry of St. Jude Medical and Boston Scientific will provide a catalyst for significant market growth by 2020.
- Neurovascular Flow Diversion Stenting: Has emerged as a new and promising endovascular treatment for aneurysms. Covidien’s Pipeline™, the only FDA approved flow diversion device, restores original, natural blood circulation while providing permanent long-term occlusion. The market will grow at a CAGR of 25% by 2020.
For Further Information
The global report series on the Markets for Neurological Devices is available for the U.S., 15 countries in Europe, Brazil, Japan, India and China. The full reports provide a comprehensive analysis including procedure numbers, units sold, market value, forecasts, as well as a detailed competitive market shares and analysis of major players’ success strategies in each market and segment.
The 2014 U.S neurological devices market report includes cerebrospinal fluid (CSF) shunts, CSF external drainage systems, intracranial pressure monitoring devices, detachable coils, liquid embolics, catheters, guidewires, traditional neurovascular stents and flow diversion stents, spinal cord stimulators, vagus nerve stimulators, sacral nerve stimulators, deep brain stimulators, gastric electric stimulators, neuroendoscopes, stereotactic frames, stereotactic frameless systems, ultrasonic aspirators, aneurysm clips, neurosurgical microscopes and intrathecal pumps.
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