As digital health technologies proliferate, the FDA is taking a closer look at how they can capture information about a person’s health outside of a clinical setting. For Parkinson’s disease, a handful of wearable technologies have already been cleared to track symptoms. With the demand for advanced disease management and a transformative shift towards accuracy and efficiency in digital health technologies, the FDA’s call for innovating Parkinson’s freezing of gait detection using artificial intelligence (AI) contributes significantly to the sector’s increasingly crucial role in healthcare and symptom management, according to GlobalData.
According to GlobalData, the market for neurological devices was valued at $12.5 billion in 2023 and is expected to grow by a CAGR of 4.60 per cent to reach $20.9 billion in 2033. This growth underscores the increasing importance and demand for advanced diagnostic and monitoring technologies in neurology, including those targeting Parkinson’s disease.
Cynthia Stinchcombe, Medical Devices Analyst at GlobalData, states, “The market for neurological devices is witnessing significant growth and diversification. The growth of the market is supported primarily by the continuous increase in neurological disorder prevalence due to the ageing population and changing lifestyles.”
GlobalData projects that with the continuous advancements in technology and the introduction of innovative therapies, the landscape of neurological devices is set to transform, offering new hope to millions affected by neurological diseases such as Parkinson’s.
Stinchcombe adds: “The advancements in digital health technologies, driven by initiatives like the FDA’s call for innovating Parkinson’s freezing of gait detection using AI signify a major step forward in managing and monitoring Parkinson’s disease. With the industry focusing on both established and emerging digital health solutions, the scope for neurology diagnostics is widening, offering a brighter future for those affected by these conditions.”
GlobalData’s analysis underscores the importance of innovative digital health technologies in the evolving landscape of neurology diagnostics, highlighted by the FDA’s call for advancing Parkinson’s freezing of gait detection using AI. This initiative significantly enhances monitoring and management capabilities with superior accuracy and real-time feedback compared to traditional methods. Leveraging the expertise in AI and wearable technology, these advancements broaden patient accessibility and promise improved outcomes by providing timely and precise symptom tracking, setting a new standard in the field.
Stinchcombe concludes: “Amidst an ageing population and the increasing prevalence of Parkinson’s disease, the progress being made is not just promising; it is a beacon of hope for patients. The dynamic expansion of digital health technologies, driven by relentless innovation and research, marks a hopeful era for patients. The FDA’s call for advancing AI-driven detection of Parkinson’s freezing of gait is a testament to the potential of these technologies to significantly improve patient care and outcomes.”