Movement Disorder Market: Growing Demand to Impact Revenue Share during 2017-2022
The global movement disorder market is expected to represent a value of over US$ 1,000 Mn by the end of 2026
[UKPRwire, Wed Aug 07 2019] The purpose of this comprehensive forecast report presented by Fact.MR is to elaborate the various market projections impacting the global movement disorder market during the period through 2017-2022. This assessment delivers high-end statistics concerning market size, growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about market growth trends along with upcoming opportunities that are expected to reshape the overall structure of the movement disorder market during the forecast period.
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Prevalence of the mental disorders has continued to remain high among the old aged population globally. Neurological diseases such as Huntingtonís disease, Parkinsonís disease and multiple symptom atrophy (MSA) continues to propel demand for management of the movement disorders. Lack of production of brain chemical dopamine by the nerve cells in the brain leads to uncoordinated movements and mental disorders that impact the everyday activities of the persons. Inability to generate movements affects the functioning of nerves, brain and the spinal cord adversely. Neurological disorders has led to surge in diseases such as trauma, convulsive diseases, cerebrovascular diseases, brain tumors and degenerative diseases. Growing prevalence of such mental disorders impact the cognitive abilities and lead to increasing prevalence of insomnia, depression, swallowing, inability to chew and speaking. Surge in awareness attributed to increasing prevalence of the neurological diseases is expected to impact growth of the global movement disorders market positively.
Medications and treatments approved by FDA is also expected to impact growth of the global movement disorder market. Xadago (safinamide) tablets and Ingrezza capsules are two drugs that have recently cleared the FDA pipeline. Ingrezza capsules have recently received approval for treatment of dyskinesia and Xadago (safinamide) tablets have received approval of Parkinsonís disease. In addition, the FDA has also approved implantation of brain to reduce the tremor symptoms. These factors are further expected to boost growth of the global movement disorders market.
In order to gain a competitive edge, various companies operating in the global movement disorder market are focusing on product innovation and developments. Manufacturers are mainly concentrating on incorporating advanced technology in the medical devices for faster recovery and improved results. Equipped with the advanced features such as sensors, 360-degree stabilizing solutions and cloud technology. Parkinsonís spoon equipped with advanced technological features enable the end users to retrieve and store information regarding the status of the unwanted tremors and generates the algorithm of tremor patterns for optimal stabilization.
On the other hand, various factors continue to impact growth of the global movement disorders market negatively. Lack of investment in research and development will continue to inhibit growth of the global movement disorder market. In addition, slow approval of the medications developed is further likely to impact growth of the global market negatively. Moreover, poor method of therapeutics conducted continues to pose significant challenges towards growth of the global market. Growing need for medical devices with the uninterrupted functioning for treatment of the neurological disorders has led to an upsurge in adoption of rechargeable deep brain stimulator devices. On the basis of product type, the rechargeable deep brain stimulator devices segment is expected to generate significant revenues, accounting for a value of over US$ 500 Mn by the end of 2026. However, the non-rechargeable deep brain stimulator devices product type segment is expected to register the highest CAGR during the forecast period.
Based on end user, the hospitals segment is expected to represent the highest revenue growth, recording a value of less than US$ 100 Mn by the end of 2017. On the other hand, the clinics end user segment is expected to register a robust through 2026. By application, the Parkinsonís disease segment is expected to represent a significant revenue growth, accounting for a value of over US$ 400 Mn by the end of 2026. In contrary to this, the dystonia application segment is expected to register a healthy CAGR throughout the forecast period.
Leading market players operating in the global movement disorder market include Medtronic Plc, Abbott Laboratories, Boston Scientific Corporation and Mayo Clinic.
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