Market Trends of Global Foot Drop Treatment Industry
This section covers the major market trends shaping the Foot Drop Treatment Market according to our research experts:
Functional Electrical Stimulator Segment is Expected to Show a Significant Growth Rate in the Foot Drop Treatment Market
Functional Electrical Stimulator (FES) uses electrical pulses to stimulate the tissues that help in improving motion, increasing blood circulation, and preventing muscular atrophy.
Furthermore, the rising company activities in launching advanced products are expected to increase the demand for the treatment of foot drop, thereby boosting the market growth. For instance, in March 2022, announced its first product offering, the lightweight leg-worn Cionic Neural Sleeve, was granted Food and Drug Administration clearance for 'functional electrical stimulation to assist in gait for people with foot drop and leg muscle weakness.
Furthermore, the growing burden of brain and spinal disorders is expected to influence positively on the FES segment market. According to the study 'Prevalence of Spine Degeneration Diagnosis by Type, Age, Gender, and Obesity Using Medicare Data' published in the Scientific Report in March 2021, Age was a factor in the prevalence of diagnosed spinal degenerative disease, which was 27.3 percent overall. Additionally, according to an article published by the National Center for Biotechnology Information, in 2021, titled 'Spinal Cord Injuries', stated that in the United States, there are approximately 17,000 new cases of spinal cord injuries (SCI) each year. Thus, the increasing prevalence of spinal degeneration and spinal cord injury is anticipated to boost the market growth.
Thus, all aforementioned factors expected to boost the segment growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global foot drop treatment market due to the high prevalence of stroke, increasing spinal cord and brain disorders, and an increasing number of product approvals. Foot drop can arise due to a stroke.
According to an article published by the National Center for Biotechnology Information, in 2021, titled 'Spinal Cord Injuries', stated that in the United States, there are approximately 17,000 new cases of spinal cord injuries (SCI) each year. Moreover, according to the data published by the American Association of Neurological Surgeons, in the June 2021 report, it has been observed that more than 450,000 people in the United States are living with a spinal cord injury (SCI). Additionally, according to an article published by the National Center for Biotechnology Information, in March 2021, titled 'Prevalence of Spine Degeneration Diagnosis by Type, Age, Gender, and Obesity Using Medicare Data,' the prevalence rate of diagnosed spinal degenerative disease was found to be 27.3%. Thus, growing the prevalence of spinal cord disease is expected to drive the growth of the market over the forecast period.
Moreover, according to the statistics published by the Centers for Disease Control and Prevention (CDC) in April 2022, more than 795,000 Americans have strokes. Of this 610,000 are found to be new cases each year. Statistics also showed that Stroke is one of the leading causes of death in the United States and every 40 seconds, someone from the United States has a stroke. This huge patient base is expected to increase the demand for foot drop treatment in the region over the forecast period.
Hence, due to the aforementioned factors, the market is expected to see a surge over the forecast period.
