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The cold air does not seem to blow towards the neuromodulation track
.
In the context of this year's capital winter, the track is still favored by investment institutions and goes against
the trend.
It has not only attracted the help of well-known institutions such as Sequoia Capital, Hillhouse Venture Capital, and Qiming Venture Capital, but also the situation of investors increasing the amount after the completion of investment has frequently appeared
.
From the perspective of financing frequency, the neural regulation track has walked out of a "J-shaped" curve
.
Since January this year, a total of 10 financing events have occurred in the primary market in this field, with a total financing amount of more than 700 million yuan, which is at an all-time high
.
.
Note: In this statistics, the financing amount of undisclosed events of financing amount is counted as zero; The financing amount of tens of millions of yuan / more than ten million yuan is counted as 10 million yuan; The financing amount of hundreds of millions of yuan/more than 100 million yuan/more than 100 million yuan is counted as 100 million yuan
.
Even so, the neuromodulation track still maintains a relatively low-key and secretive posture
.
Not only is it difficult to find detailed information about neuroregulation in public sources, but the voices
of investors and track participants are rarely heard in the market.
They all seem to have reached a tacit agreement - submersion
.
"Neuromodulation is a valuable track
.
But you have to understand, you have to dig
deeper.
Since I started tracking the field of neuroregulation in 2019, I have rarely seen industry information
.
I have also talked to many practitioners, they are really low-key, they are down-to-earth technology, 90% of practitioners prefer to wait for the product to be made before disclosing
information.
In an internal exchange with colleagues, the colleague said
.
A practitioner with more than ten years of experience in the neuromodulation industry told Arterial Network that neuromodulation has a very broad space
for development for different indications in the future.
But it is precisely for this reason that practitioners need to think more about
how this technology can truly meet clinical needs.
The technologies involved are relatively complex, including neurosurgical stereotactic technical materials, medical imaging technology, neuroelectrophysiology technology and computer technology, etc.
, for the Chinese market that is still in the early stage of development, practitioners must devote more time to overcoming technical problems
.
for different indications.
In the field of neuroregulation, it seems that there has been a layer of mist
.
If it weren't for the frequent financing events in the field of neuroregulation this year, perhaps we would have really missed this pearl
.
So what is the current development status of the domestic neuromodulation field? What is the gap between domestic enterprises and overseas enterprises? How do Europe and the United States conduct research and monetize this area? Arterial Network took these questions to sort out the current situation of the industry at home and abroad, hoping to find answers
from them.
There are more than ten types of applications, and the global market size has reached 5.
8 billion US dollars
8 billion US dollars
Because the nervous system innervates the activities of various important organs of the human body, neuromodulation technology is widely
used.
Its applications mainly include deep brain stimulation (DBS), spinal cord stimulation (SCS), vagus nerve stimulation (VNS), etc.
, and treat diseases such as nervous system injury, motor dysfunction, chronic pain, spasticity, epilepsy, gastrointestinal and bladder dysfunction, peripheral vascular disease, cardiac ischemia, audiovisual impairment, and psychogenic diseases (such as depression, obsessive-compulsive disorder, tourette syndrome) and many other fields
.
Although the traditional field of neuroregulation only includes the neuroregulation of the central nervous system, such as deep brain stimulation and spinal cord stimulation
.
However, with the proposal of new measures to develop innovative neuroscience technologies and the establishment of regional neuromodulation centers, neuromodulation research and application are developing
rapidly.
Over the past few decades, hundreds of thousands of patients have benefited from neuromodulation as a therapeutic technology, and new applications for neuromodulation are constantly being discovered
.
According to relevant statistics, in 2020, the global market size of neuromodulation has reached 5.
8 billion US dollars
.
At the same time, the diseases treated by this technology have also expanded from movement disorders such as Parkinson's disease, dystonia and essential tremor to psychiatric diseases such as tourette syndrome, obsessive-compulsive disorder and anorexia, as well as pain and epilepsy
.
Domestic deep brain electrical stimulator and domestic vagus nerve stimulator have also come out, and their main technical indicators have reached international standards, and some technical indicators have been at the leading level
.
The development of technology has further reduced the cost of treatment for the benefit of patients
.
.
17 neurotechnologies have been approved as innovative medical devices by the State Food and Drug Administration, and domestic substitution and innovative development potential have emerged
17 neurotechnologies have been approved as innovative medical devices by the State Food and Drug Administration, and domestic substitution and innovative development potential have emergedCompared with the hot basic research and new clinical applications abroad, the application scope of domestic neuromodulation technology is limited, and the lack of basic research and pioneering application may be the impression
left by the field of neuromodulation for a long time.
However, in the process of sorting out the industry, we found that neural regulation is a potential track
with wide market development space and a good competitive landscape in the future.
Since the introduction of deep stimulation system (DBS) in China in 1998, neuromodulation has been greatly developed
in China.
with wide space for future market development and a good competitive pattern.
Since the introduction of deep stimulation system (DBS) in China in 1998, neuromodulation has been greatly developed
in China.
Review its developments
.
For a long time in the past, the localization of DBS hardware equipment, the establishment of multidisciplinary teams, the lack of unified and perfect guidelines and standardized processes for various operations in the implementation of DBS, and the high price of overseas products have become important factors
restricting the development of the domestic market.
From the establishment of the China Branch of the International Association of Neuromodulation (INS) in 2007, to the establishment of the Neuromodulation Professional Committee of the Chinese Medical Doctor Association in Beijing on October 30, 2010, the Chinese Medical Doctor Association has provided an academic exchange platform for domestic and international practitioners in neuromodulation and held a national neuromodulation conference
every year.
The development of the domestic neuromodulation market has gradually been promoted, and with the passage of time and the efforts of practitioners, the above problems have been solved
one by one.
After market research, we found that the breakthrough of the "stuck neck" problem has made the neuromodulation market burst out of a broader space for development, and also created more opportunities
for domestic substitution.
After all, relative to the global market, China's neuromodulation market is still in the early stage of development, and the competitive landscape is good and not crowded
.
The neuromodulation technology has a very broad development space in the indications, and its targeting, reversible, persistent and adjustable treatment characteristics also create space
for the subsequent improvement of the market scale of the technology.
for the subsequent market scale of this technology.
Combing through the list of innovative medical devices approved by the State Food and Drug Administration in recent years, it is not difficult to find that there are currently 17 neuroregulation-related technologies in China, showing great potential
for domestic substitution and innovative development.
At the same time, these breakthroughs are not limited to traditional technologies such as deep brain stimulation (DBS), spinal cord stimulation (SCS), and vagus nerve stimulation (VNS), but also innovative breakthroughs
have been made around the sacral nerve stimulation system (SNM).
On top of traditional technologies, neuromodulation companies including Jingyu Medical and Pinchi Medical have also made many innovative iterations
.
around the sacral nerve stimulation system (SNM).
On top of traditional technologies, neuromodulation companies including Jingyu Medical and Pinchi Medical have also made many innovative iterations
.
The development momentum of domestic enterprises is gratifying, and the application scope of products is even wider than that of overseas enterprises
The development momentum of domestic enterprises is gratifying, and the application scope of products is even wider than that of overseas enterprisesIn the list of innovative medical devices approved by the State Food and Drug Administration, the products of Jingyu Medical and Pinchi Medical account for the vast majority
.
Among them, Jingyu Medical is deeply engaged in the field of deep brain stimulation (DBS) treatment, and at the same time explores cutting-edge technologies
such as invasive brain-computer interfaces for medical use on this basis.
Pinchi Medical focuses on the research and development, production and sales of brain pacemakers, vagus nerve stimulators, spinal cord stimulators, sacral nerve stimulators and other series of neuromodulation products, which can treat Parkinson's disease, epilepsy, pain, urinary incontinence and other functional neurological diseases
.
The dual-channel implantable deep brain stimulation pulse generator kit is the first innovative neuromodulation medical device
approved by the State Food and Drug Administration developed by Jingyu Medical.
approved by the State Food and Drug Administration developed by Jingyu Medical.
The implantable pulse generator, which contains a variety of control programs, is an integral part of
the brain pacemaker system.
Controlled electrical impulse signals are transmitted to specific areas
of the brain through electrode wires and extension wires.
At the same time, the pulse generator is a two-channel implantable deep brain stimulation pulse generator
.
Based on the design of Jingyu medical stimulation chip, the application of this product can realize the left and right brain abnormal frequency program control
.
Not only that, the stimulation parameters such as polarity, voltage/current, pulse width and frequency of each channel stimulation contact of the product can be independently programmed, and has two stimulation mode selections of constant voltage and constant current, as well as up to 13 groups of stimulation program storage and selection, providing fine control and selection conditions
for patients' periodic symptom fluctuations.
The product was and is representative of the product then and still is innovative.
At the beginning of this year, Pinchi Medical's "implantable spinal cord nerve stimulator" (SCS) was officially approved for marketing
.
According to the official website of Pinchi Medical, this product series is the first spinal cord nerve stimulation product series
with independent intellectual property rights in China.
The product adopts a new generation of spinal cord nerve stimulation comprehensive technology system, which can not only reduce the cost of the product, but also realize the automatic recall of preset stimulation parameters according to the patient's posture, so that the patient can achieve a satisfactory treatment state
.
and remote regulation to reduce the number of patient trips to and from the hospital
.
The breakthrough of this product represents that China has broken the foreign monopoly in this field and filled the technical gap
.
.
In addition to Jingyu Medical and Pinchi Medical, other domestic manufacturers have explored
gastrointestinal diseases, bladder dysfunction, diabetes, pain, nervous system damage, motor dysfunction and other fields.
gastrointestinal diseases, bladder dysfunction, diabetes, pain, nervous system damage, motor dysfunction and other fields.
For example, Midapex is developing innovative applications for neuromodulation therapies in inflammatory bowel disease, diabetes, and functional gastroenterology, and some products are applying for FDA approval, and some products are about to undergo clinical trials
.
Lingchuang Medical Valley focuses on the research and development of medical devices and consumables in the field of pain and neuromodulation, and innovates wireless implantable neuromodulation products
in the R&D department.
The closed-loop neurostimulator (EpilcureTM) developed by Jialiang Medical fills the technical gap of the corresponding domestic neurological disease treatment, and realizes the closed-loop treatment of electrical stimulation and minimally invasive ablation of neurological diseases based on the self-developed
LITT (magnetic resonance guided laser ablation).
In addition, Zhilian Brain Control has also developed highly intelligent electronic control products, vagus nerve electrical stimulation regulation software system, polysomnography transcranial stimulation regulation and control system, etc
.
Norcon has formed a three-dimensional R&D pipeline layout
with auditory reconstruction products as the core, visual reconstruction products and neuromodulation stimulators as the assistance.
Shenwoo Medical, which recently received nearly 100 million yuan in Series B financing, has mastered core technologies such as electrodes, chips, wireless charging, algorithms, positioning and fixation, cloud management, and big data, independently built a neural regulation platform, and promoted the development of neural regulation products
with different technical paths and different application scenarios.
Although the competition pattern in the field of neuromodulation is good and not crowded, there are only 17 companies in China (due to the relationship between time and the amount of information, the data we collect may not be comprehensive, if you are also a startup in the field welcome to contact the arterial network) involved in the research and development of neuromodulation products, but in fact, the application scope of related products has covered gastrointestinal diseases, bladder dysfunction, diabetes, pain, nervous system damage, motor dysfunction, epilepsy, psychogenic diseases, sleep disorders, audiovisual disorders, cardiovascular and cerebrovascular diseases, etc
。 After comparing with 18 overseas companies, we found that the application scope of domestic products is even wider than that of overseas enterprises
.
.
The similarity is that pain is still the most mature application field of neuromodulation products, and motor dysfunction and epilepsy are the mainstream scenarios
in neuromodulation applications.
in neuromodulation applications.
After in-depth communication with a number of enterprises, Chende Capital believes that "the increase in the scale of the neuromodulation market in the future is inevitable, and its potential will be reflected
in indications and engineering technology.
In addition to the relatively mature Parkinson's, epilepsy, pain, etc.
, we see that the international community is also actively exploring new indications, such as rheumatoid arthritis, hypertension, spinal cord injury, stroke rehabilitation, etc.
, and its clinical progress is worthy of attention
.
At the same time, neural regulation technology also has a lot of room for improvement in engineering technology, and even the long-established DBS is still in continuous
iteration.
As a platform-based technology, electrode refinement and IPG miniaturization are common goals
of invasive control devices.
”
in indications and engineering technology.
Internationally, it is also actively exploring new indications, such as rheumatoid arthritis, hypertension, spinal cord injury, stroke rehabilitation, etc.
, and its clinical progress is worthy of attention
.
Neural regulation technology also has a lot of room for improvement in engineering technology, and even the long-established DBS is constantly iterating
.
As a platform-based technology, electrode refinement and IPG miniaturization are common goals
of invasive control devices.
Giants such as Medtronic, Abbott, and Boston Scientific have in-depth layout, and innovation and iteration around traditional products are the mainstream trend
Giants such as Medtronic, Abbott, and Boston Scientific have in-depth layout, and innovation and iteration around traditional products are the mainstream trendOverseas not only Medtronic, Abbott, Boston Scientific and other giants lay out the neuromodulation market
.
From the perspective of financing rounds, the overseas market is also nearly mature
.
Among the 18 companies counted by Arterial Network, 10 have been successfully listed
.
However, domestic companies have not yet run out of listed enterprises, and there is still great room for
development.
.
However, domestic companies have not yet run out of listed enterprises, and there is still great room for
development.
At the same time, in 2022, the overseas neuromodulation field is still hot, with a momentum
of "rushing forward".
Although Medtronic, Abbott, Boston Scientific and other enterprises have rich product pipelines, the giants still take the field of neuroregulation as one of the development priorities, and have made many layout and strategic adjustments
.
of "rushing forward".
Medtronic, Abbott, Boston Scientific and other enterprises have rich product pipelines, but the giants still take the field of neuroregulation as one of the development priorities, and have made many layout and strategic adjustments
.
This year, medical company Axonics announced the expansion of its intellectual property portfolio for sacral neuroregulation, and Medtronic announced the appointment of Ashwini
Dr.
Sharan is the Chief Medical Officer of the Neuromodulation Division and Percept™, a deep brain neurostimulator with sensory technology
PC was approved
by the State Food and Drug Administration.
Abbott announced that the FDA granted DBS system breakthrough device designation
for the treatment of refractory depression.
The overseas market in the field of neuroregulation can be described as a series of happy events, and its relatively mature development model can provide reference
for domestic enterprises in the early stage of development.
for domestic enterprises in the early stage of development.
This time, Arterial Network briefly sorted out the products and business models of the 18 overseas neuromodulation companies counted, and summarized
them in the form of charts.
them in the form of charts.
Among them, Medtronic, as one of the earliest companies to enter the neuromodulation device market, has the most comprehensive
layout.
Deep brain electrical stimulation DBS, vagus nerve stimulator CNS, spinal cord electrical stimulation SCS, sacral nerve stimulator SNM and other fields have been released
.
Around the traditional deep brain neurostimulator, Medtronic has been iteratively upgraded, and its self-developed Percept™
The PC has perceptual technology that continuously captures and records patient brain signals, providing clinicians with more intuitive and objective data
.
At present, the product is not only CE marked licensed, US FDA
Approved, and this year has been approved by the NMPA for the treatment
of Parkinson's disease, essential tremor, epilepsy and dystonia.
It can be seen that Medtronic not only has advantages in the layout of the whole line of neuromodulation products, but also has a certain degree of leadership
in the rapid commercialization of products.
Abbott is deeply engaged in the patient population of chronic pain and movement disorders, providing neuromodulation products
.
On the inherent basis, Abbott also found a new breakthrough this year, developing DBS that can be used to treat refractory depression (TRD), and the device was awarded breakthrough medical device designation
by the US FDA.
Boston Scientific has two major areas of spinal cord stimulation and deep brain stimulation, and has also developed two major products of indirect decompression system (IDS) and radiofrequency ablation (RFA) in minimally invasive solutions, forming a multi-dimensional neuromodulation product portfolio
.
LivaNova has provided clinical use
to more than 130,000 patients worldwide with its in-depth research on VNS therapy and medical technology innovation in the fields of neuromodulation and cardiovascular.
LivaNova has provided clinical use
to more than 130,000 patients worldwide with its in-depth research on VNS therapy and medical technology innovation in the fields of neuromodulation and cardiovascular.
Nevro's products are innovative, with companies innovating the use of artificial intelligence in spinal cord stimulation (SCS) systems to enable personalized pain optimization and relief solutions
.
RNS of NeuroPace
System is the world's only FDA-approved closed-loop brain response neurostimulation system
.
The innovation of NeuroSigma products is that TNS neuromodulation therapy has been applied to treat epilepsy, as well as psychogenic diseases
such as ADHD, depression, attention deficit hyperactivity disorder (ADHD) and post-traumatic stress disorder (PTSD).
Although Neuronetics' neuromodulation products also target psychogenic diseases, they differ from NeuroSigma in that they use MRI-intensive magnetic field pulses to achieve non-invasive therapies
for psychiatric and neurological disorders.
Neuronetics is also the only company
approved by the FDA to develop non-systemic and non-invasive treatments for depression.
NeuSpera Medical's products reflect the trend and value
of miniaturization of neuromodulation products.
NeuSpera
Medical is committed to the ultimate in miniaturized neuromodulation devices and has exclusive miniature neuromodulation technology
.
Not only that, Neuspera
Medical continues to focus on miniaturization, using its fourth-generation mid-range wireless energy transfer technology to shrink the device so that it can be implanted deeper for the treatment of chronic pain and overactive bladder for precise neuromodulation
.
Neuroelectrics innovatively combines transcranial electrical stimulation and data application platform Starstim
tES integrates to improve the lives of patients with brain disorders by providing personalized brain stimulation therapy anytime, anywhere, to optimize treatment options
for neurological and psychiatric disorders.
CVRx's innovation lies in the company's application of neuromodulation technology to fight high blood pressure and heart failure
.
The device is implanted under the skin near the collarbone to stimulate the body's neuroreflex system to help control blood flow
.
Currently, CVRx has developed the second generation of minimally invasive implant system BAROSTIM
NEO has been granted
a FDA humanitarian device exemption.
Among the technologies innovated and applied by overseas enterprises in the field of neural regulation, we can still see the current mainstream development trend in the field of medical devices, that is, miniaturization, refinement, and digitalization, and the application of artificial intelligence technology to the field of neural regulation may be inevitable
in the future.
in the future.
As Shoudong Wang, founder of Shennet, said, nerve damage is almost irreversible
.
Under the trend of population aging, the field of neuromodulation will inevitably derive more room
for development.
With the advancement of future research, diabetes, anorexia, and rare diseases may become the application fields of
neuromodulation products.
Although our neuromodulation devices and matchboxes are about the same size as matchboxes from a product design point of view, miniaturization is still a major direction in addition to expanding the application field in the future, because it can make this invasive device acceptable to more users, making it a more universal treatment modality
.
for development.
With the advancement of future research, diabetes, anorexia, and rare diseases may become the application fields of
neuromodulation products.
In the future, miniaturization will continue to expand the application field, because it can make this invasive device more accessible to more users, making it a more universal treatment method
.
Through the review of the products and development models of overseas enterprises, we find that it is a development model
to continuously improve the corresponding product layout while rapidly promoting the logic of product commercialization.
However, in addition to developing new indications, continuous iteration of traditional technologies or single technologies is one of the mainstream models for the development of
overseas enterprises.
After all, developing new indications means greater difficulty and more investment, and continuous technology iteration for a certain field can create more irreplaceable advantages for enterprises and shape their leading position
in a single field.
.
However, in addition to developing new indications, continuous iteration of traditional technologies or single technologies is one of the mainstream models for the development of
overseas enterprises.
Continuous technology iteration for a certain field can create more irreplaceable advantages for enterprises and shape their leading position
in a single field.
Basic research has made breakthroughs one after another, and the fog has cleared
Basic research has made breakthroughs one after another, and the fog has clearedBreakthroughs in innovative research are inseparable from basic research
.
In addition to the development of the industry, domestic basic research on neural regulation has been in full swing and many breakthroughs
have been made.
have been made.
At the beginning of this year, Arterial Network conducted an interview
with Yang Fan of Shenzhen Advanced Institute.
During the interview, we learned that the Institute of Brain Cognition and Brain Diseases, Shenzhen Institute of Advanced Technology, Chinese Academy of Sciences, and Yang Fan's research group of the Shenzhen-Hong Kong Institute of Brain Science Innovation have been published in the journal Nature Communication
An optogenetic approach for regulating human parathyroid was published in Communications
The latest research results
of hormone secretion.
The team applied optogenetic technology to parathyroid hormone (Parathyroid Hormone.
PTH) to achieve precise rhythmic regulation of PTH secretion and intervention in bone loss
caused by secondary hyperparathyroidism.
This research not only effectively expands the application of optogenetic technology in the field of bone and endocrinology research, but also brings innovative development
in neuroscience.
In addition to the research of Yang Fan's research group, other domestic neuroregulation-related research processes are still advancing
.
According to incomplete statistics of the arterial network, Xiao Lei's team at Fudan University and Pan Yufeng's team at Southeast University have made breakthrough research on neural regulation to clear away the layers of clouds lingering on the nervous system
.
As we delve deeper into the neuromodulation track, the fog gradually clears
.
We see the value
of neuromodulation technology under the relatively mature development model of overseas enterprises.
Under the aging trend, the field of neuromodulation has a broad market space
.
I also saw the gradually clear figures of entrepreneurs and researchers, and their exploration and contribution
to neural regulation.
When the ark of exploring the sea of stars in brain science sails out, we must have reason to believe that the neuromodulation Chinese market will be able to run out of giants
such as Medtronic, Abbott, Boston Scientific, and Axonics.
*Reference: Neuromodulation Technology and Application
*Reference: Neuromodulation Technology and Application
