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The global neuromodulation market has been forecast significant growth over the next five years, with the industry set to hit a market value of $6.8 billion value by 2017.
Neuromodulation is the physiological process by which a given neuron uses several different neurotransmitters regulate diverse populations of central nervous system neurons.
This is in contrast to classical synaptic transmission, in which one presynaptic neuron directly influences a single postsynaptic partner. Neuromodulators secreted by a small group of neurons diffuse through large areas of the nervous system, affecting multiple neurons. Examples of neuromodulators include dopamine, serotonin, acetylcholine, histamine and others.
The neuromodulation technique acts directly upon nerves or the target area where the activity of nerves is altered due to biological responses produced by electrical stimulation or drug infusion. These devices include small electrodes that are attached to the brain, the spinal cord, or peripheral nerves.
These precisely placed leads are connected by means of an extension cable to a pulse generator to generate electrical stimulation.
An aging population together with the rise of age-related diseases like Alzheimer's, epilepsy, Parkinson's disease and spinal cord injury is fuelling the global neuromodulation industry.
According to the International Neuromodulation Society, about 40 million to 50 million patients worldwide suffer from epilepsy, and 1.5 million people currently (2012) suffer from Parkinson disease in the U.S.
The large pool of patients that suffer from depression, stroke, anxiety disorders, lower back pain, urinary incontinence, and tremor offers the neuromodulation industry opportunities to grow in the next five years.
Neuromodulation devices have emerged as one of the fastest growing segments of the medical device market due to high demand for minimally invasive and non-invasive treatment.
With advancements in technology, neuromodulation is expected to become a promising therapeutic area and high growth has been forecast for the industry over the next decade, as it offers symptomatic relief mainly from chronic pain, incontinence, heart failure, headache, depression, and epilepsy.
Key players currently dominating the global neuromodulation market include Medtronic, St. Jude Medical, Cyberonics and Boston Scientific, while some emerging companies are Functional Neurmodulation, which aims to treat Alzheimer's with deep brain stimulation; MicroTransponder, which is using neurostimulation to treat tinnitus and NeuroSigma, which is targeting a whole host of conditions including epilepsy, post-traumatic stress disorders and obesity.
For more information on the global neuromodulation market, see the latest research: Global Neuromodulation Market
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