NEW YORK, June 17, 2019 (GLOBE NEWSWIRE) -- The demand for electronic aspirin is likely to register a significant CAGR during the 2019-2025. Rising prevalence of neurological illness across the globe, technological advancements in medical devices, and government initiatives for product approval are the key factors attributing to the market growth. Moreover, increasing investment in research and development activities is expected to attract the new players, which is further likely to propel the market demand.
Given the statistics from migraine research foundation, migraine is the third prevalent neurological illness affecting mostly people in the age group between 25 to 55. As per estimates, approximately 39 million people in the U.S., and one billion people across the globe are affected by migraine, which has led to the development of electronic aspirin. Emerging as a nascent technology, electronic aspirin holds high potential for better and efficient treatment of neurological disorders such as migraines, cluster headaches, head and facial pain and among others. The aforementioned factors are tend to have a positive impact on the growth of electronic aspirin market.
Electronic Aspirin: A new non-pharmacologic treatment for migraine
Migraine is described as an intense or throbbing pain in one area of the head. The main cause of migraine includes stress and anxiety, alcohol consumption, and other natural factors. Traditionally, there was no permanent solution to treat migraine. As a result, electronic aspirin has been developed to treat cluster headaches, predominantly migraines. The device is implanted permanently in the upper gum to cure the headache and other neurological disorders. The implant tip connects the SPG cluster, whenever the patient feels headache, the device would help in relieving pain by using a remote control.
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Key findings from the report:
- The demand for electronic aspirin devices is expected to reach 220 thousand units by 2025
- Based on Component:
• Demand for implantable device is expected to grow at a higher CAGR over the forecast period (2019-2025). However, remote control device is expected to hold major share of the market during 2019-2025. - Based on End-use:
• The hospitals segment is expected to be the major end–use for electronic aspirin during 2019-2025 - Based on Region:
• North America, being at the forefront for the developments in the electronic aspirin market, would hold the largest share in the global market, followed by Europe during the forecast period.
The report segments the global electronic aspirin market on the basis of component, end-use and region.
By Component
- Fixation Plate/ Implantable Device
- Remote Control Device
By End-Use
- Ambulatory surgical centres (ASCs)
- Hospitals
- Others
By Region
- North America
- Asia-Pacific
- Europe
- Central & South America (CSA)
- Middle East and Africa (MEA)
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