Market Trends of Chile Neurology Devices Industry
Sacral Nerve Stimulation Devices Segment is Expected to Have a Significant Market Share Over the Forecast Period
The sacral nerve stimulation devices are mostly used for patients for whom drug therapy or other types of medications are not successful. It is performed with the help of a small device, which is capable of sending electrical impulses to the targeted sacral nerves located in the lower back region. These devices are found to be successful in treating bladder problems. Hence, with increasing incidences of overactive bladder and bowel incontinence, the sacral nerve stimulation devices segment is expected to grow during the forecast period.
According to an article published by a few Chilean authors in SpringerLink in February 2022, electric nerve stimulation procedures such as sacral nerve stimulation are widely used for the treatment of overactive bladder in patients. Thus, the increasing use of sacral nerve stimulation in the treatment of overactive bladder is expected to boost segment growth during the forecast period of the study.
Furthermore, according to the data published by the United Nations Population Fund Dashboard in 2022, an estimated 13% of the population in Chile will be aged 65 years and older in 2022. Thus, the rising geriatric population is expected to enhance the market growth, as old age is often associated with diseases that require sacral nerve stimulation treatment. Moreover, the rising healthcare spending in the country is also expected to boost segment growth.
Hence, the aforementioned factors, such as the rising prevalence of overactive bladder and urinary incontinence and the rising healthcare expenditure, are expected to boost segment growth during the forecast period of the study.
Deep Brain Stimulation Devices Segment is Expected to Have a Significant Growth During the Forecast Period
Deep brain stimulation (DBS) is a neurosurgical technique that regulates neuron activity by using internal pulse generators to through electrodes in specific target areas of the brain. These devices are used for the treatment of various neurological diseases such as dystonia, Alzheimer's disease, Parkinson's disease, and epilepsy, among others. Thus, the rising prevalence of such neurological disorders in Chile and the rising geriatric population is expected to boost the segment growth.
For instance, according to an article published by Chilean authors in MDPI in September 2022, Drug-induced oromandibular dystonia encompasses a wide variety of hyperkinetic and hypokinetic extrapyramidal involuntary movements, manifesting in the form of dystonia in patients, and it is often found that oromandibular movement disorders were consistent with dystonia. Thus, the prevalence of dystonia in the country associated with a variety of movements is expected to boost segment growth, as deep brain stimulation is often used for the treatment of neurological disorders such as dystonia.
Furthermore, the rising geriatric population in the country is also expected to enhance segment growth, as elderly people are often associated with a high prevalence of neurological disorders. For instance, according to the data updated by the UN World Population Prospects in 2022, an estimated 3,477 thousand people were more than 60 years old in Chile in 2021.
Hence, the aforementioned factors, such as the rising prevalence of dystonia and Parkinson's disease and the rising geriatric population, are expected to boost the segment growth during the forecast period of the study.
