Digital Therapeutics & Medical Devices for Migraine Market
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Digital Therapeutics & Medical Devices for Migraine Market – (By Type (Arm Device, Neck Device, Head/Forehead Device, and Others), By Age Group (Above 18 Years and Above 12 Years), By Mode of Action (Electrical Pulse, Mild Electrical Stimulation, and Deep Muscle Treatment)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Digital Therapeutics & Medical Devices for Migraine Market is expected to grow with a CAGR of 8.6% during the forecast period of 2024-2031.
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The digital therapeutics and medical devices market for migraines encompasses both software and hardware solutions designed to aid in the management and prevention of migraines. This sector is being driven by several key factors, including the rising prevalence of migraines, the growing adoption of digital health solutions, and the increasing demand for alternatives to traditional pharmaceutical treatments. Additionally, the market is expanding due to a heightened focus on self-care and patient empowerment, alongside advancements in technology that offer personalized and easily accessible migraine management solutions. However, concerns surrounding data privacy, particularly regarding the sensitive health information collected by these digital platforms, may pose challenges to the market’s growth. Furthermore, there is significant market potential for wearable devices and mobile applications that enable migraine tracking and alleviation, driven by growing consumer demand for self-managed health solutions.
List of Important Players in the Digital Therapeutics & Medical Devices for Migraine Market:
• Relivion MG
• gammaCore
• WeatherX
• Aculief
• Theragun
• Allay Lamp
• Shakti Mat
• Allodynic Therapeutics, LLC
• Amgen Inc.
• Bayer AG
• Cefaly Technology
• Cirrus Healthcare Products
• electroCore, Inc
• Eli Lilly and Company
• eNeura Inc.
• GlaxoSmithKline plc.
• Neurolief Ltd.
• Neuros Medical, Inc.
• Novartis AG
• Pfizer Inc.
• Salvia BioElectronics B.V.
• Theranica Bio-Electronics Ltd.
• Other Prominent Players
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Market Dynamics:
Drivers
The expansion of the digital therapeutics and medical devices market for migraines is primarily driven by the increasing global prevalence of migraines, a common neurological disorder. As more individuals are diagnosed with migraines, the demand for digital treatment options and medical devices continues to rise. Additionally, there is growing interest in non-pharmaceutical remedies due to concerns over the side effects of traditional migraine medications and individual health preferences. This shift towards non-drug solutions is fueling the need for digital therapeutics and medical devices, driving the market’s continued growth.
Challenges
Several challenges may impede the growth of the digital therapeutics and medical devices for migraine market. A significant hurdle is the lengthy and complex regulatory approval process for new digital solutions, particularly with agencies such as the FDA. Furthermore, insurers’ reluctance to cover innovative digital therapies contributes to reimbursement challenges. Healthcare practitioners and patients also express concerns regarding the efficacy and reliability of digital treatments compared to traditional methods. The market penetration and adoption of these digital solutions may be slowed due to the need for comprehensive clinical validation to establish their effectiveness and safety. These factors are expected to constrain the growth of the digital therapeutics and medical devices for migraine market in the coming years.
Regional Trends
The North American market for digital therapeutics and medical devices for migraines is anticipated to hold a significant share of global revenue, with projections indicating strong growth at a high compound annual growth rate (CAGR) in the near future. This growth is attributed to the region’s strong economic performance, well-established healthcare system, increasing public awareness of the need for effective pain management solutions, and high acceptance of technological advancements. Additionally, North America’s advanced research and development infrastructure, coupled with a high incidence of migraines, supports the market’s expansion. The Asia Pacific region is also experiencing significant growth in this market, driven by advancements in medical device technology, improved healthcare infrastructure, and increased awareness of migraine-related issues. The region’s growth is further supported by innovations in digital health, a growing focus on effective migraine treatments, and a push for more user-friendly and efficient healthcare solutions.
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Recent Developments:
• In January 2024, Neurolief is delighted to announce that Sawai Group Holdings Co., Ltd. made a strategic equity investment. An exclusive agreement was previously inked for the development and marketing of Neurolief’sRelivion, a groundbreaking non-invasive, at-home wearable electroceutical therapy for depression and migraines, in Japan. This investment further strengthens the strategic collaboration between Neurolief and the Japanese pharmaceutical corporation.
• In February 2024, Theranica, a leader in prescribed digital therapeutics, has announced that its Nerivio Remote Electrical Neuromodulation wearable, designed for the treatment and prevention of migraines, will be covered by a commercial insurance policy offered by Highmark Inc.
Segmentation of Digital Therapeutics & Medical Devices for Migraine Market-
By Type-
• Arm Device
• Neck Device
• Head/Forehead Device
• Others
By Age-Group-
• Above 18 Years
• Above 12 Years
By Mode of Action-
• Electrical Pulse
• Mild Electrical Stimulation
• Deep Muscle Treatment
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/digital-therapeutics–medical-devices-for-migraine-market/2356
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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