The demand for electronic aspirin devices is likely to reach 220 thousand units by 2025, and is expected to augment at a significant CAGR during 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 new players, which is further likely to propel the market demand. However, potential side effects associated with electronic aspirin, and the lack of clinical data is anticipated to impede the market growth over the forecast period.
Electronic aspirin is a new medical technology that assists in relieving chronic pain such as migraine, cluster headache, and tension headache, among others. Electronic aspirin blocks the main nerve cell (sphenopalatine ganglion) SPG that creates headache, and helps in relieving pain. The technology comprises of two parts: a hand-held remote control device and a small nerve-stimulating device which is implanted inside the patients’ upper gum, through a minimally invasive surgery. Whenever the patient feels the headache, they can place the remote controller next to the implanted neuro-stimulator, which triggers an electrical charge that stimulates the SPG nerve cell, and blocks the pain-causing neurotransmitters.
Electronic Aspirin: Technological advancements are paving the way for migraine treatment
With increasing advancements in medical technology, electronic aspirin not only cures chronic headaches and migraines, but also improves their health and life expectancy rate. Migraine is considered as the most common neurological disorder in the U.S., and UK along with many developing countries. In addition, as per clinical trials by ATI, 68% of migraine patients have shown reported improvements after using electronic aspirin. Moreover, the patients can control the miniaturized nerve stimulating device through a remote control, making it easy to use.
Global Electronic Aspirin – Regional Insight
Geographically, electronic aspirin market is segmented into North America, Asia-Pacific, Europe, Middle East and Africa, and Central & South America. North America is anticipated to hold the major market share during the forecast period, followed by Europe. Increasing research and development activities, high prevalence of severe headache among the adult population in the U.S., and high capital investments are the factors significantly driving the regional growth. In addition, North America is further expected to register the highest CAGR over the forecast period, owing to the increasing adoption of electronic aspirin to cure chronic headaches as well as migraine. In addition, favorable government initiative for the approval and implementation of the electronic aspirin is further expected to impel the market growth during 2019-2025.
The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;
Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the total electronic aspirin market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the electronic aspirin market
Finalizing the overall size and share for the global electronic aspirin market
The years used for the assessment are as follows;
Forecast period: 2019 – 2025
To classify the global electronic aspirin market into segments and analyze their growth prospects individually.
To analyze market trends, opportunities, drivers and restraints associated with the electronic aspirin market.
Profiling key companies operating in the global electronic aspirin market.
To study market response with respect to the mergers and acquisitions in the industry.