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Wearable Technologies To Warn Patients About Disease Progression


Wearable technology innovations are a new trend in the neurology device market. Wearable technology helps monitor symptoms automatically and also predicts some serious conditions such as seizures and disease progression before the patient is aware of them. These devices can collect health related data at anytime and anywhere and thus are useful in monitoring or diagnosing several kinds of neurological disorders such as Parkinson’s disease, multiple sclerosis and epilepsy and also helpful to neurologists treating those patients. For instance, Massachusetts Institute of Technology is testing a watch which is able to predict seizures by measuring skin moisture. Neurology devices with electro encephalo graphic (EEG) sensors are also being developed to record electrical signals along the scalp to measure brain activity.

NEUROLOGY DEVICES MARKET TO GROW TO 13.4 BILLION BY 2020 ACCORDING TO THE BUSINESS RESEARCH COMPANY.

The Business Research Company expects the neurology devices market to grow to $13.4 billion in 2020. The Americas was the largest region in the Neurology Devices market in 2016, accounting for $4.3 billion or 50.2% of the market share.

The chart below shows the year-on-year growth of the global neurology devices market during 2016 - 2020.

According to The Business Research Company’s Medical Equipment Consultant, Sandeep Kumar Bejini, surgeons and patients opting for neurological devices as a treatment option over drug therapies are increasing, thus boosting the demand for the neurology device market. Due to its cost effectiveness and cost to utility ratio, adoption of neurology devices, in particular neurostimulators and deep brain stimulators is increasing in the treatments of epilepsy, chronic pain, Parkinson's disease, migraines and post cancer pain. The increasing use of neurological devices can drive the market during the forecast period.

Abbott Laboratories is a USA based company which is involved in the development, manufacture and sale of healthcare products and which operates in more than 150 countries. Abbott Laboratories generated revenues of $5.2 billion for the financial year 2015. Abbott Laboratories’ growth strategy aims to expand its operations by acquiring companies involved in similar or diverse business in the healthcare industry. In January 2017, Abbott acquired St. Judes Medical, a US based medical device manufacturing company for $25 Billion.

Neurology devices are designed to aid diagnose, prevent, monitor and treat a variety of neurological disorders and conditions such as Parkinson’s disease, Alzheimer’s disease, epilepsy, major depression, spinal cord and traumatic brain injuries.

The neurology devices market is divided into four broad divisions.

Cerebrospinal Fluid Management (CSF) Devices are used in the treatment of hydrocephalus, a condition of excessive accumulation of CSF within the head. Based on the product type, these devices are classified into CSF shunts and CSF drainage systems. CSF shunts divert the cerebrospinal fluid from brain or spinal cord to other body regions. Most commonly used shunt systems are ventriculoperitoneal, ventriculoatrial, ventriculopleural and lumboperitoneal shunts. CSF drainage systems are further divided into ventricular drainage systems and lumbar drainage system.

Interventional Neurology or Neurovascular Devices are used to treat neurovascular diseases such as aneurysms, arteriovenous malformations, cavernous malformations and stroke. Based on the product type, these devices are classified into aneurysm coiling & embolization devices, support devices, cerebral balloon angioplasty & stenting systems and neurothrombectomy devices.

Neurosurgery Devices are used to perform neurosurgical procedures that are concerned with diagnosis, prevention and treatment of disorders affecting any portion of the nervous system. Products include neurosurgical navigation systems, embolization devices, stereotactic devices, intracranial shunts, surgical clips, endoscopic devices, stereotactic radiosurgery systems, aneurysm and AVM clips.

Neurostimulation Devices Market Neurostimulation is a procedure during which low voltage electricity is delivered to a specific nerve or target in the spinal cord or brain to affect the neuronal transmissions. This procedure is used to treat or to modulate motor functions in the conditions such as neuropathic pain, chronic pain, major treatment resistant depression, Parkinson’s disease, epilepsy, incontinence, gastroparesis and essential tremor. Neurostimulating Devices include microelectrodes, neurostimulators, spinal cord stimulators, deep brain stimulators, gastric electrical stimulator, transcranial magnetic stimulators, Sacral and Vagus Nerve Stimulaters.

Neurology Devices Global Market Briefing is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office the price is $1500 and $2000 if you wish to use across a multinational company.

About The Business Research Company

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The Business Research Company is a market research and intelligence company, which excels in company, market and consumer research.

It has research professionals at its offices in the UK, India and the US as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, chemicals and technology.

The Business Research Company's management has more than 20 years of varied business research experience. They have delivered hundreds of research projects to the senior management of some of the world's largest organizations.


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