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Electronic Aspirin Market Overview
The global electronic aspirin market is expected to witness considerable growth during the forecast period due to the increasing headache, stress related work and rise in demand for advanced medical devices. Electronic aspirin is a novel technology that aims to reduce pain in conditions such as migraines, cluster headaches and other head and facial pain. The key end user in the electronic aspirin market include hospitals, ambulatory surgical centers (ASCs) and others.
Aspirin is the most accepted brand available in the market for headache and pain and has been extended to be used for heart attack and stroke. Electronic aspirin relieves pain through nerve stimulated implantable device and is used to block the Sphenopalatine Ganglion Signals (SPG), which is a group of nerve cells associated with the trigeminal nerve and is characterized with the identification of headache disorders in humans. Electronic aspirin is implanted permanently in the upper gum on the side of head severely affected by headache. The implant tip will connect to the SPG bundle, whenever patient feels headache, the device would help through remote control for pain relief.
Electronic Aspirin Market Dynamics
Growth Drivers and Restraints
Increasing number of cigarette consumers, rising prevalence of headaches and migraine are some of the key factors marking the growth in the electronic aspirin market. According to a journal on Headache and Pain, published by the American Association for the Advancement of Science (AAAS), smoking more than five cigarettes a day triggers headache effectively.
According to the World Health Organization (WHO) 2016, the prevalence of headache disorder among adults is about 50% globally. As per the Migraine Research Foundation (MRF), migraine is the third most prevalent disease and about 1 billion people suffer from the same, globally. Further, factors such as side effects associated with electronic aspirin, stringent regulation for medical devices and lack of clinical data may impede the growth of the market.
Electronic Aspirin Market Insights by Geography
Electronic aspirin is still under clinical development and seeking approval from the United States Food Drug and Administration (USFDA). In addition to increasing future expectation for electronic aspirin market is driven by, increasing prevalence of headaches, rising healthcare expenditure and high demand for advanced medical devices. In developed countries, increase investment in research and development will further boost the growth of electronic aspirin market.
Electronic Aspirin Market Competitive Landscape
Currently, only Autonomic Technologies Inc (ATI) is investing in the development of electronic aspirin. The company is mainly focusing on the development of new therapies for treatment of cluster headaches. For instance, in March 2017, ATI received an expanded indication (CE mark) in the Europe for the Pulsante SPG Microstimulator system to include pain relief for highly affected migraine patients. The Pulsante Microstimulator System provides on demand stimulation of the SPG, which is known for cluster headache and migraine. It is the first implantable neuro stimulation therapy to receive CE mark for headache and migraine related pain reliefs.
ELECTRONIC ASPIRIN MARKET SEGMENTATION
By End User