Deep Brain Stimulation Devices Market is Thriving According to New Report: Opportunities Rise For Stakeholders by 2026


Posted November 5, 2019 by coherent123

Deep brain stimulation (DBS) surgery is performed as part of the treatment of various neural debilitating conditions such as Parkinson’s disease (PD), dementia, and Alzheimer’s disease.

 
Deep brain stimulation (DBS) surgery is performed as part of the treatment of various neural debilitating conditions such as Parkinson’s disease (PD), dementia, and Alzheimer’s disease. A patient fitted with a DBS device can get long-term relief from debilitating symptoms of PD. Although some patients may require medications post-surgery, there is significant reduction in side-effects caused due to medications, owing to use of DBS devices. A DBS device is mainly placed in one of the three U.S. Food and Drug Administration (FDA) approved target sites in PD. Most commonly preferred target sites are the Globus Pallidus Interna (GPi) and Subthalamic Nucleus (STN).

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Market Dynamics

Approval and launch of novel and advanced DBS devices is expected to drive the global deep brain stimulation devices market growth over the forecast period. For instance, in 2017, Boston Scientific Corporation received the U.S. Food and Drug Administration for its Vercise Deep Brain Stimulation (DBS) system. Vercise DBS system is indicated for use in Parkinson’s disease treatment. DBS works by stimulating a targeted region of the brain through implanted leads that are powered by a device called an implantable pulse generator (IPG).

Frequent approval and Launch of novel devices is expected to fuel the global deep brain stimulation devices market growth

Key players in the market are focused on approval and launch of novel DBS devices to expand their product portfolio, which is expected to boost the market growth. For instance, in January 2019, Boston Scientific Corporation launched two new DBS devices namely the Vercise Primary Cell (PC) and Vercise Gevia Deep Brain Stimulation (DBS) systems.

In June 2015, the U.S. Food and Drug Administration (FDA) approved St. Jude Medical’s Brio Neurostimulation System, a DBS device that helps to reduce symptoms of Parkinson’s disease (PD) and essential tremor. Launch and approval of such novel devices is expected to significantly support the global deep brain stimulation devices market growth over the forecast period.


The global deep brain stimulation devices market size was valued at US$ 831.6 Mn in 2018, and is expected to exhibit a CAGR of 9.7% over the forecast period (2020 – 2027).

Detailed Segmentation:

Global Deep Brain Stimulation Devices Market, By Application:
Parkinson's Disease
Essential Tremor
Dystonia
Others

Global Deep Brain Stimulation Devices Market, By End User:
Hospital & Clinics
Ambulatory Surgical Centers
Others

Global Deep Brain Stimulation Devices Market, By Region:
North America
Europe
Asia Pacific
Latin America
Middle East
Africa

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High prevalence of diseases such as Parkinson’s disease and epilepsy is expected to fuel the global deep brain stimulation devices market growth

Increasing prevalence of PD is expected to boost demand for DBS devices. For instance, according to the Parkinson’s Disease Foundation, as of 2016, over 10 million people are suffering from Parkinson’s disease, worldwide. The findings published by the organization demonstrated that incidence rate of PD increases with age and only 4% of people were diagnosed with PD before the age of 50 years. According to the same source, in 2017, the incidence rate of PD in the U.S is as high as 60,000, annually.

Moreover, according to Parkinson’s Australia Inc. around 11,544 new cases of PD were diagnosed in Australia in 2014. According to the statistics released by Parkinson Canada, the number of people suffering from PD in Canada is expected to reach over 163,700 by 2031 (double than the prevalence in 2011).

Key players operating in the global deep brain stimulation devices market include, Boston Scientific Corporation, Medtronic, Inc., St. Jude Medical, Inc. (Abbott Laboratories), Cyberonics, Inc., Neuronetics, and Aleva Neurotherapeutics SA.

About Coherent Market Insights

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.


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Issued By COHERENT4484
Country India
Categories Health
Tags deep brain stimulation devices market
Last Updated November 5, 2019