The device industry would do well to focus on the treatment needs of individuals suffering from nerve-related disorders as implanted technologies that deliver electrical stimulation begin to supplant drugs for treating certain nerve-related disorders.
So said Harry Glorikian, managing partner of Scientia Advisors, a global management consulting firm, in announcing the results of a study released today.
Scientia, based in Cambridge, MA and Palo Alto, CA, specializes in growth strategies for major and emerging companies. Scientia advises companies based on proprietary studies, many of which are self-funded.
“With an aging population and increasing concern about efficacy and health care costs, there is a growing need for treatments that are quicker, safer, more effective and less expensive than drug-based therapies,” Glorikian said.
“Neurostimulation can be advantageous to patients because it is not addictive, does not depend on individuals’ genetic makeup, and does not ordinarily cause systemic side effects,” Glorikian said. “By diminishing the need for ongoing medication and treatment, neurostimulation devices could also help reduce overall health care costs.“
In its study, Scientia found that the neurostimulation market has been growing at an average rate of 16 per cent since 2007. Scientia projects growth rates of 14- to-23 percent for certain technologies through 2012.
“Emerging companies are developing exciting new methods for treating a variety of nerve-related disorders. With added proof of safety and clinical efficacy, we expect that doctors will increasingly recommend surgically implanted devices instead of—or along with-- pharmaceuticals for many patients,” Glorikian said.
Scientia projects the most rapid growth for: