Cranial & Auricular Electrostimulation Devices Market Share and Growth Factors Impact Analysis 2018
Posted: Mar 31, 2019
Electrostimulation devices emit electrical impulses to muscles, tissues, or parts of the body that cause muscle contraction. Electrical impulses generated by electrostimulation device are distributed through electrodes placed on the skin that is near to the muscles or tissues that are being stimulated. Electrodes are usually in a pad form and cling to the skin. The electric impulses imitate the action that usually stems from the central nervous system, impacting the muscle or tissue being treated. Electrical stimulation has several effects on the body which include, stimulating nerves to decrease pain, stimulating muscles to contract, increasing blood flow to speed healing and reduce inflammation, improving the flow of medication through the skin, and stimulating cells to reproduce and hasten healing. Cranial electrotherapy stimulation (CES) devices deliver weak impulses of electrical current to the mastoid processes, earlobes, or scalp. Auricular electrostimulation devices stimulate the acupuncture points on the ear.
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Cranial & auricular electrostimulation devices are used to treat various crippling conditions, such as, insomnia, anxiety, depression, and chronic pain. These devices are considered very influential and useful for patients who fail to attain relief from the usual invasive surgical or drug therapy treatment. Growth of the cranial & auricular electrostimulation devices market is expected to be driven predominantly by age-related neurological disorders, rapid technological advancements, improved clinical results, and strong funding for research and development in this field. For e.g., on September 18, 2018, The University of California, San Francisco received US$ 20 Mn grant from the family of audio pioneer, Ray Dolby. With this funding, the university is planning to start a brain-stimulation clinical trial in 2019. Using a network of electrodes on the surface of the brain, the study is likely to investigate identifying and targeting dysfunctional brain circuits to treat depression. However, limited key players, lack of awareness, and the U.S. FDA’s proposal to ban electrical stimulation devices (ESDs) due to their use in self-injurious or aggressive behavior are expected to hamper the growth of the cranial & auricular electrostimulation devices market during the forecast period.
The global cranial & auricular electrostimulation devices market can be segmented based on application, end-user and region. In terms of application, the cranial & auricular electrostimulation devices market can be divided into insomnia, anxiety, depression, and pain management. The pain management segment is expected to hold a substantial cranial & auricular electrostimulation devices market share during the forecast period owing to positive clinical results produced by the use of these devices as compared to results of traditional drugs or surgical interventions. Based on the end-user, the cranial & auricular electrostimulation devices market can be classified into hospitals, clinics, and home settings. The clinics segment is expected to hold a significant cranial & auricular electrostimulation devices market share during the forecast period, as it is noninvasive so does not require a high tech setting, has relatively fewer side effects (1% or less),is easy to use and does not require specialized staff and has the ability to treat depression, anxiety, and insomnia simultaneously. Furthermore, the use of cranial & auricular electrostimulation devices is cost-effective compared to other devices and drugs used in psychiatry. The ease of use of these devices is likely to boost the cranial & auricular electrostimulation devices market in hospital, clinics, as well as home settings.
In terms of region, the global cranial & auricular electrostimulation device market can be divided into five major regions, North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America contributed maximum revenue to the global cranial & auricular electrostimulation device market in 2016. It is expected to remain the leading market for cranial & auricular electrostimulation devices during the forecast period owing to factors, such as, presence of the key industry players, strong focus on research & development, technological advancements, and a large pool of patients suffering from health issues in the region. The cranial & auricular electrostimulation device market in Asia Pacific is expected to grow at a significant rate in the near future due to factors, such as, growing population and increasing awareness about treatment options in the region.
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Prominent players operating in the global cranial & auricular electrostimulation device market include Neuro-Fitness LLC, Electromedical Products International, Inc., Fisher Wallace, Johari Digital Healthcare LTD, Auri-Stim Medical, Inc., and Life Balance Intl.
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