The electrical and magnetic neurostimulation technologies market reached $16.3 billion in 2011 and is expected to grow moderately during the next few years, according to a recent report from life sciences research publisher Kalorama Information.
In its report, "Markets for Electrostimulation Devices," Kalorama notes that several types of medical devices using electrical and magnetic stimulation are driving the market, including electromuscular stimulation of muscle tissue, which can aid in the recuperation of overworked muscles, and transcranial magnetic stimulation (TMS), a non-invasive technique that uses an electromagnet placed on the patient's scalp to alter brain activity.
In recent years, "repetitive TMS has received a growing attention in the popular and scientific media, and the market forecasts reflect growing professional medical acceptance," said Bruce Carlson, publisher of Kalorama Information. "We're seeing steady market growth for transcutaneous electrical nerve stimulation as well, which is commonly used for pain management."
These treatment options provide an alternative to drug therapies, said Carlson.
"Increasingly they are used in neurological or psychological treatments where drugs fail," he said. "In the past, the only treatments for neurological conditions were drug therapy, invasive surgery or, in some cases, behavioral or lifestyle changes."
Despite the growth trend, the market still has some work to do to improve its image, said Carlson.
"The industry still struggles with perception of quality issues, which are anecdotal but nonetheless present," he said. "The popularity of lower-quality, cheaper systems available through alternative medical outlets diminishes the perceived value of other therapeutic equipment, and less expensive devices may be considered unproven. Past problems associated with stimulation equipment such as tissue damage, allergic reactions, interference with pacemakers and radiofrequency interference have created anecdotal safety concerns."