Market Trends of Muscle Stimulator Industry
Neurological Disorders Segment is Expected to Have a Significant Market Share During the Forecast Period
Neurological disorders such as Parkinson's disease, dystonia, dementia, and Alzheimer's disease are often treated with the help of electrical stimulators. Factors such as the rising prevalence of neurological diseases and the rising usage of muscle stimulators for the treatment of neurological conditions are expected to boost segment growth
For instance, according to an article published by International Parkinson and Movement Disorder Society in July 2022, a study was conducted in Sweden, which showed that the pooled prevalence of cervical dystonia was 11.75 per 100,000 people in Sweden. Thus, the high prevalence of dystonia in such countries is expected to boost segment growth.
Furthermore, according to an article published by Frontiers in January 2023, a study was conducted in Argentina, which showed that there is a normal decline in spatial memory related to ageing in older people, and this is dramatically increased in neuropathological conditions such as Alzheimer's disease (AD). This indicates that the high burden of Alzheimer's Disease (AD) in the elderly population of the country is expected to create opportunities for market players to market electrical stimulator devices for the early screening and treatment of AD, thereby propelling the market growth. Moreover, the rising research funding for neurological disorders is also expected to boost segment growth, as it will help in the development of new electric stimulators.
Hence, the aforementioned factors, such as the rising prevalence of various neurological disorders, Are expected to boost the segment growth during the forecast period of the study.
North America is Expected to Hold a Significant Share in the Market in the Forecast Period
North America is expected to hold a significant market share due to the growing healthcare expenditure for innovation and development of medical devices, increasing musculoskeletal disorders, and the presence of a well-established healthcare infrastructure.
For instance, according to an article published by ScienceDirect in March 2022, a study was conducted in Mexico which showed that the prevalence rate of Parkinson's disease in the urban parts of Mexico ranged from 2.1% in the 65-69-year-old age group to 11.9% in 75-79-year-old age group. Thus, the high prevalence of Parkinson's disease in the country is expected to boost segment growth.
Furthermore, the launches in the region are also expected to boost the market growth. For instance, in March 2021, the United States Food and Drug Administration (FDA) authorised the marketing of a new device called Portable Neuromodulation Stimulator (PoNS), which is indicated for use as a short-term treatment of gait deficits due to mild to moderate symptoms from multiple sclerosis (MS). The device is intended to be used by prescription only as an adjunct to a supervised therapeutic exercise program in patients 22 years of age and older.
Thus, the above mentioned factors such as the rising prevalence of various neurological diseases and the increasing product launches are expected to acclerate the market growth in the region during the forecast period.
