It’s not really called PlayStation disease, but the scientific and technical term for this illness has been named PlayStation palmar hidradenitis. So what is it you ask? The British Journal of Dermatology describes the symptoms of this condition as sore red bumps on the hands, and is caused by excess gaming. And yes Xbox 360 and Nintendo Wii owners, you too are at risk of PlayStation disease. It’s not a console exclusive. There isn’t too much known about the illness but doctors suspect the disease occurs from a combination of sweaty hands and "tight and continuous grasping" of the console's controller”. And the remedy for such a disease is simply no gaming for approximately two weeks.

From news.bbc.co.uk

“Researchers outline the case of a 12-year-old girl who attended a Swiss hospital with intensely painful sores on the palms of her hands. The girl, who had been using a games console regularly, recovered fully after 10 days of abstinence.”

“However, her parents did say that she had recently started to play a video game on a PlayStation console for several hours a day, and had continued to play even after developing the sores.”

“The doctors suspect that the problem was caused by tight and continuous grasping of the console's hand-grips, and repeated pushing of the buttons, alongside sweating caused by the tension of the game.”

Source