Growing prevalence of various medical conditions and diseases has led to introduction of innovative technologies in the medical field. One of such technology that has shifted the focus of healthcare providers to a new era of disease treatment is implantable pulse generator.
New York, NY -- (SBWIRE) -- 09/20/2017 -- Growing prevalence of various medical conditions and diseases has led to introduction of innovative technologies in the medical field. One of such technology that has shifted the focus of healthcare providers to a new era of disease treatment is implantable pulse generator.
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Implantable pulse generator is a battery-powered micro-electronic medical device that is implanted in the body, delivers electric stimulation to the nervous system in order to stimulate or block various nerve impulses in the body. The technology is adapted from the technology used in cardiac rhythm management and holds promise in treatment of variety of medical conditions such as reducing back pain, treatment of hypertension and obesity and curing diabetes without daily injections of insulin.
In some situations implantable pulse generators are used to treat such conditions for which medicines either have not been completely effective or have shown some side effects. Whereas in other conditions use of such technology is looked as a way to control the disease progression more conveniently either alone or in combination with medicine.
For example, implantable pulse generators are playing an extremely important role in treatment of various neurological disorders especially in treatment of Parkinson's diseases, tremor and dystonia through deep brain stimulation (DBS). Presently, the technology is utilized for individuals who do not adequately respond to the medications. However, individuals which show some degree of improvements after taking medication for Parkinson's will only be benefitted from DBS.
Additionally utilization of advanced ceramic materials in designing of IPG devices are also playing an important role alternative to the titanium device casing due to its biocompatibility. Use of such ceramic materials and high-pin density feed through assemblies, play an important role in enhancing the technology and improving the treatment outcomes to enable next-gen neuromodulation devices in the market. Implantable pulse generator is highly potential treatment option for patient who do not obtain relief from medication and surgical treatment.
Global market for implantable pulse generator is expected to grow at healthy growth rates owing to growing incidence of various chronic disorders such as neurological and cardiovascular disorders. Other prominent factors fueling the increasing penetration of implantable pulse generator includes ease of implants with enhanced clinical performance, strong reimbursements, greater patient awareness and referrals and improved technology enabling market leadership. The technology proves to be cost effective when compared to alternative therapies with minimal complications. Additionally, reduced medication dosage with minimal side effects Dyskinesia, improved motor symptoms for comparatively longer period of time are some of the other factors that have largely contributed towards higher market growth of implantable pulse generator over the forecasted period.
Based on product type, the global implantable pulse generator market is segmented into the following:
Implantable cardiac pacemakers
Implantable nerve stimulators (FES)
Limb function stimulation
Implantable infusion pumps
Implantable active monitoring devices
Based on applications, the global implantable pulse generator market is segmented into the following:
Based on end user, the global implantable pulse generator market is segmented into the following:
Ambulatory Surgical Centers
Home Care Settings
In terms of geography North America accounts for the largest market share in global implantable pulse generator market followed by Europe. Favorable reimbursement policies and sophisticated healthcare infrastructure. With increasing FDA approvals and increased device complexity to deliver enhanced features and more tailored effects is expected to drive the growing need of implantable pulse generator in the near future. Asia Pacific represents the fastest growth market for implantable pulse generator owing to growing number of manufacturers launching new and innovative IPG devices.
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Some of the key players in global implantable pulse generator market includes, Medtronic, Inc., Boston Scientific Corporation, St. Jude Medical, Inc., Synapse Biomedical, Inc., Nevro Corporation , Neurosigma, Inc., Neuropace, Inc., Cyberonics, Inc., and BioControl Medical. These players are entering into mergers & acquisitions, strategic collaborations, and product portfolio expansions, which are their key sustainability strategies to maintain their profit margins in the long run. Also many startup companies' have entered in this lucrative market space to capitalize over the opportunities present in implantable pulse generator market.