Global Neurological Devices Market to Rise and Hit $13.6 Billion in 2019

Monday, June 25, 2018 Medical Gadgets
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LOS ANGELES, June 25, 2018 /PRNewswire/ --

FN Media Group Presents USA News Group News Commentary

 

An evolution in how we treat and rehabilitate our neuro pathways is underway. According to a new report, the global neurology devices market is projected to hit a value of $13.6 billion in 2019, coupled

with a very impressive growth rate. With the rise comes deeper investment into cutting-edge research, and more widespread relief and recovery for patients around the world.

This growth in the global market for neurology devices is being driven through an emphasis on developing superior neuromodulation and neurostimulation techniques leveraging minimally invasive procedures that benefit patients. The result has been a drive by companies to pour more into R&D, in an effort to better treat and rehabilitate the brain.

Developers large and small are answering the call, in this wave of new neurological devices including Helius Medical Technologies, Inc. (NASDAQ: HSDT) (TSX: HSM), Johnson & Johnson (NYSE: JNJ), Neurotrope, Inc. (NASDAQ: NTRP), Stryker Corporation (NYSE: SYK), and Eyecarrot Innovations Corp. (TSX.V: EYC) (OTC: EYCCF).

With an aging population, as well as younger generations encountering heavier doses of stimulus, it's no wonder that this segment of the healthcare field is rising rapidly. Increasing instances of cerebral stroke and other acute disorders, such as epilepsy, Alzheimer's and Parkinson disease, as well as injury-induced trauma are filling medical offices with patients seeking remedies for their brains.

In particular, patients are looking for non-invasive devices, instead of seeking neurology drugs. The largest segment in the global neurology devices market currently is that of neurostimulation.

Leading the way in neurostimulation therapy are two tech developers in particular. Helius Medical Technologies is moving forward with its PoNS device that treats neurological symptoms caused by disease and trauma. Eyecarrot Innovations Corp. (TSX.V: EYC) (OTCQB: EYCCF) has already rolled out its flagship Binovi platform dealing in treating the pandemic of binocular vision dysfunction.

However, the bigger players such as Johnson & Johnson seem to be preferring to tackle neurological treatment still through the surgical approach. J&J launched its Cerenovus product portfolio for stroke care late last year, as the number of strokes annually are projected to rise from 1.1 million in 2000 to 1.5 million by 2025.

NEUROLOGY BY THE NUMBERS 

According to the National Institute of Neurological Disorders and Stroke (NINDS), approximately 50 million people in the US are afflicted by these types of disorders-leading to expensive forms of therapy.

However, with the rise in the number of patients, so too has there been a rise in demand in particular for non-invasive therapies.

But much like the rollout of Johnson & Johnson's Cerenovus product portfolio, with its devices designed to increase blood flow to the brain, there's still plenty of market share available for invasive treatments as well.

According to the lead analyst involved in publishing the recent report on the sector by Transparency Market Research, today's patients are primarily choosing neurology devices over other drugs due because of the former's zero side effects and greater efficiency.

In the case of neurological non-invasive therapy, however, no segment could be larger and more treatable than that of vision impairment.

The World Health Organization estimates 253 million people live with vision impairment, among which, 36 million are blind, and 217 million have moderate to severe vision impairment. But current research is discovering other causes for concern among poor vision sufferers besides biological factors such as eye shapes and external damage. The most alarming discovery is that of the rise of a condition known as binocular vision dysfunction, labeled by experts in the field as a new pandemic.

According to Tom Frinzi, worldwide president of surgical for Johnson & Johnson's Vision wing, the demographics in the vision market are beyond compelling. Frinzi states that eye health represents an $80 billion market-the third largest behind cardiology and oncology.

And not all vision impairments require surgery nor corrective lenses. Vision therapy is on the rise, utilizing the concept of neurological training and rehabilitation. Vision can essentially be improved through extensive therapy sessions that strengthen ocular muscles, and reduce distortions caused by misalignment.

Enter Eyecarrot Innovations, a junior tech company that has developed a platform called Binovi, which is being adopted by eye doctors across the continent. Using smart devices, Binovi can not only send encrypted data through peer-to-peer communication to the eye doctor for progress monitoring, but patients have the option of sharing their data with researchers to help future vision sufferers.

NONINVASIVE TREATMENT DEVELOPERS 

Helius Medical Technologies, Inc. (NASDAQ: HSDT) (TSX: HSM) - Focused on the development of products for the treatment of neurological symptoms caused by disease or trauma, Helius Medica Technologies has made a name for itself through its noninvasive platform technologies that amplify the brain's ability to heal itself. Most recently, the company announced it will be submitting a request for US FDA clearance on its Portable Neuromodulation Stimulator (PoNS) investigational medical device. The company has already held pre-submission meetings with the FDA, and expects to submit their request during Q3 2018. The request is for clearance for the PoNS device to treat chronic balance deficit due to mild- to moderate-traumatic brain injury.

Johnson & Johnson (NYSE: JNJ) - Johnson & Johnson recently divested its Codman Neurosurgery business late last year to Integra LifeSciences Holding Corporation for approximately $1.045 billion. However, it followed up the divestiture by launching its Medical Devices Companies platform, CERENOVUS, with a portfolio that includes aneurysm coils, vascular reconstruction devices and other technologies used to treat cerebral aneurysms and stroke.

Neurotrope, Inc. (NASDAQ: NTRP) - Neurotrope is aggressively targeting the treatment of Alzheimer's disease, primarily through its lead product candidate bryostatin, a natural product isolated from a marine invertebrate organism, a bryozoan called Bugula neritina. Bryostatin has also been developed for other neurodegenerative or cognitive diseases and dysfunctions, such as Fragile X and Niemann-Pick Type C. The company also has a license for the use of bryostatin structural derivatives, known as bryologs, for use in the treatment of central nervous system disorders, lysosomal storage diseases, stroke, cardioprotection, and traumatic brain injury; and a license agreement to an accelerated synthesis of bryostatin-1.

Stryker Corporation (NYSE: SYK) - Stryker operates through three segments including a Neurotechnology and Spine segment, through which the company provides neurotechnology products including several used for minimally invasive endovascular techniques. Stryker most recently made waves through a potentially monumental takeover bid of rival Boston Scientific valued at more than $110 billion, which would be one of the largest medical device transactions on record.

Eyecarrot Innovations Corp. (TSX.V: EYC) (OTCQB: EYCCF) - Eyecarrot is persistently tackling a rising medical pandemic, still not talked about often enough- binocular vision dysfunction (BVD). Through its Binovi vision therapy platform, Eyecarrot not only targets BVD, but also other visual impairments. Their portfolio consists of visual and neuro-cognitive processing products for diagnosing and remediating visual perception disorders. By tackling an issue that's possibly afflicting 25% of the population, Eyecarrot has the potential to access a massive segment of the optometry market.

TACKLING A QUIET PANDEMIC 

The rise of the pandemic of binocular vision dysfunction is serious business. With its proprietary, cost-effective screening tool, dubbed "Binovi", Eyecarrot Innovations Corp. (TSX.V: EYC) (OTCQB: EYCCF) is almost single-handedly addressing a condition that's wreaking havoc on the vision of a huge portion of the world's population, and causing reduced productivity, headaches, and overall discomfort and disorientation in what could be billions of sufferers.

An estimated 1 in 4 of the global population are affected by binocular vision dysfunction. Eyecarrot's Binovi platform screens and rehabilitates impacted patients through the company's proprietary software and brain exercises. According to eye doctors using the platform, even their other 3 out of 4 patients can benefit greatly from Binovi to achieve higher levels of ocular performance.

Eyecarrot aims to help hundreds of millions of people with Binovi-a strategy that is not only noble, but also potentially very lucrative as well. In terms of revenue, Eyecarrot holds a very conservative goal of generating $1/year from every user. With Facebook monetizing approximately $10-15/year from its users, Eyecarrot's $1 per-year-per-user model remains a conservative estimate.

By targeting an affliction that impacts a quarter of the world's population with its effective Binovi platrom, Eyecarrot has targeted a niche among the neurological device market that not only seems to have been overlooked, but is also growing at a rapid pace.

For a more in-depth look into Eyecarrot Innovations Corp., visit the following report from USA News Group on the company http://usanewsgroup.com/2018/05/23/vision-therapy-the-market-size-is-huge-the-investment-opportunity-is-even-larger/

Article Source: 

USA News Group  http://usanewsgroup.com    info@usanewsgroup.com

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SOURCE USA News Group



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