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Marketing Campaigns Driving Growth In the US Neuromodulation
Device Market
September 18, 2006 - Waltham, Mass. -- Millennium Research
Group (MRG), the global authority on medical technology market
intelligence, finds that growth in the US neuromodulation
device market will be due in part to a strong increase in
demand as companies target both physicians and the general
public with marketing and advertising campaigns. This
market, comprising spinal cord stimulators, implantable drug
pumps, deep brain stimulators, sacral nerve stimulators,
vagus nerve stimulators, and gastric electric stimulators,
will also benefit from the introduction and adoption of new,
higher priced devices with superior features. According
to a new report entitled US Markets for Neuromodulation Devices
2006, this market will experience significant growth over
the next five years, rising from over $1.1 billion in 2005
to nearly $3.0 billion by 2010.
Spinal cord stimulators comprise conventional and rechargeable
implantable pulse generators and radio frequency (RF) systems.
These devices are implanted to treat chronic pain and can
potentially be used to treat angina pain and chronic migraines.
Over the next five years, the market for spinal cord stimulators
will shift from conventional devices to rechargeable devices. Rechargeable
devices have a longer life span than conventional devices
and can be operated at a higher level of power, thus providing
more pain relief. Additionally, with the use of rechargeable
devices, patients are not required to wear an external component,
as they are with RF systems. As a result, by 2010 rechargeable
systems will constitute the largest segment of the spinal
cord stimulation market, and RF systems will no longer be
sold in the US.
MRG’s US Markets for Neuromodulation Devices 2006
report covers several key industry competitors, including
Medtronic (MDT); Advanced Neuromodulation Systems, a subsidiary
of St. Jude Medical (STJ); Cyberonics (CYBX), Advanced Bionics,
owned by Boston Scientific (BSX); and Codman, a Johnson & Johnson
company (JNJ).
About Spinal Cord Stimulators
Spinal cord stimulators are
used to treat chronic pain. In
spinal cord stimulation, a pulse generator is implanted—typically
in the hip area—and leads are inserted into the epidural
space of the spine and connected to the pulse generator by
flexible extensions, which accommodate patient movement. After
the system is implanted, the physician programs the pulse
generator to deliver the appropriate level of stimulation.
About Decision Resources
Decision Resources, Inc., (www.decisionresources.com) is a world leader in research publications, advisory services, and consulting designed to help clients shape strategy, allocate resources, and master their chosen markets.
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