The pharmaceutical industry is making use of AI for discovering new-fangled drugs. January 2020 witnessed the invention of the very first drug molecule using AI, whose patent lay with Japanese and British scientists. The medicine is being used for treating OCD (obsessive-compulsive disorder). Likewise, several promising formulas are being discovered as an outcome of AI-enabled lab experimenting. This would how the Anxiety Treatment Devices Market look in the near future.
Anxiety Treatment Devices are devices which are used to deliver electrical signals to the brain for the treatment of anxiety, depression, trauma etc. The Cranial electrotherapy stimulation is a neurostimulation therapy, used in the treatment of anxiety. In this therapy, a cell phone sized device delivers a mild form of electric stimulation pulses to the brain, for the treatment of anxiety, depression, and insomnia.
The electrodes are placed on the earlobes for the transmission of electrical signals to the brain. The alpha-stim cranial electrotherapy stimulation device is used to deliver a mild microcurrent, through small chips which are worn on the ear lobes. The microcurrent is very mild and is not felt by the patient.
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Another device, which is used to treat the anxiety disorder is Fisher Wallace stimulator, which is one of the FDA cleared anxiety treatment devices. Fisher Wallace stimulator stimulates serotonin production and alpha waves production. Most of the patients get relief from the anxiety symptoms, by using this device.
The growing incidence of anxiety and depression is the major factor contributing to the growth of anxiety treatment devices market. Increasing healthcare awareness is another important factor driving the growth of anxiety treatment devices market. High adoption of poor lifestyle habits and lack of physical activities, is expected to increase the stress, which can contribute towards the growth of anxiety treatment devices market.
An increasing geriatric population can increase the growth of the anxiety treatment devices market, as they are more prone to anxiety, depression, and phobias. Other factors, such as the growing number of mental hospitals, technological advancement, increasing stress due to hectic routine etc., can contribute to the overall growth of anxiety treatment devices market. The increasing number of hospitals and trauma centers can increase the growth of anxiety treatment devices market. Increasing psychological studies can lead to the innovation of new technologies for the treatment of anxiety, which can be a growth factor for the anxiety treatment devices market.
There are certain side effects of using anxiety treatment devices such as headache, blurred vision etc. which can hinder the growth of anxiety treatment devices market. The high cost of treatment or lack of skilled professionals can also be a factor, restraining the growth of anxiety treatment devices market.
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Market Segmentation:
The global Anxiety Treatment Devices market is segmented on basis of device type, indication, end user and geographic region:
Segmentation by Device Type:
- Alpha Stim
- Fisher Wallace
- Other Anxiety Treatment Devices
Segmentation by Indication:
- Panic Disorder
- Obsessive Compulsive Disorder
- Post-Traumatic Stress Disorder
- Special Phobias
- Others
Segmentation by End User:
- Hospitals
- Specialty Clinics
- Trauma Centers
Some of the key players involved in global Anxiety Treatment Devices market are Allevia Health, Inc., Fisher Wallace Laboratories, LLC, Electromedical Products International, Inc., Mind Alive Inc., Bharat Medical Systems.
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