Neuromodulation Market: Innovation Brings High-Growth Rewards
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In the market for neuromodulation devices, the largest opportunity is in the treatment of chronic pain, a condition that affects more than 1.5 billion people worldwide. Innovation is driving growth in this sector as companies develop next-generation neuromodulation technologies designed to improve outcomes, and resolve some of the problems with existing devices; these technologies will significantly expand the treatable population, and will allow companies both large and small to capture market share based on device efficacy and the strength of clinical evidence.
Neuromodulation start-up Helius Medical Technologies is employing a simpler, more primal connection to send potentially therapeutic signals to the brain – the tongue. The company is entering pivotal clinical trials to test the technology in select patients with traumatic balance disorder and traumatic brain injury, and evaluating the device for use in patients with multiple sclerosis.
NeuroTherm makes devices for radiofrequency ablation of nerves in painful facet joints in the neck or back to treat chronic pain. Although it markets neurostimulators, St. Jude currently does not sell any devices in the radio-frequency ablation segment of the pain-therapy market.