Market Overview:
Deep brain stimulation (DBS) involves implanting electrodes within certain areas of the brain. In short, DBS is a surgery to implant a device that sends electrical signals to brain regions responsible for body movement. Electrodes are placed deep in the brain and are connected to a stimulator device. Deep brain stimulation devices will not cure the disease, but they can help reduce symptoms. In some cases, medications may still be needed for certain conditions.
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DBS, a neurosurgical procedure, is a first line treatment for people with movement disorders. Deep brain stimulation devices are often used to treat movement disorders, such as Parkinson’s disease, dystonia, essential tremor, and other neurological conditions. DBS has been approved by the Food and Drug Administration (FDA) as a treatment for Parkinson’s disease (PD), and essential tremor since 1997. Thus, there is an increasing demand for DBS devices.
Competitive Landscape:
Major players operating in the global deep brain stimulation devices market are Neuronetics, Cyberonics, Inc., Aleva Neurotherapeutics, Medtronic, Inc., Boston Scientific Corporation, and St. Jude Medical, Inc. (Abbott Laboratories), among others.
Key Market Drivers:
Increasing prevalence of neurological disorders coupled with the growing geriatric population is expected to propel growth of the deep brain stimulation devices market during the forecast period. For instance, according to the Parkinson’s Foundation, more than ten million people worldwide are living with Parkinson’s disease. Incidence of PD increases with age, but an estimated four percent of people with PD are diagnosed before age 50.
Moreover, increasing demand for deep brain stimulation devices, growing awareness among people about the deep brain stimulation devices, and introduction of technologically advanced products is expected to augment the growth of the deep brain stimulation devices market. For instance, in July 2021, Medtronic launched the Percept PC Deep Brain Stimulation System, enabled with BrainSense technology, designed to capture brain signals while simultaneously delivering therapeutic stimulation, inside and outside the clinic. It is indicated for patients with Parkinson’s disease, dystonia, tremor, and epilepsy.
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COVID-19 Impact Analysis:
The pandemic has affected all people, especially those with chronic diseases, including PD. COVID-19 may affect both motor and neuropsychiatric symptoms of PD patients. Moreover, the pandemic has impacted medical care and patients’ lives but elective procedures, such as DBS for PD. Thus, there is an increasing demand for DBS during the pandemic. This in turn is expected to increase the demand for deep brain stimulation devices across the globe, driving the growth of the market.
Key Takeaways:
- The deep brain stimulation devices market is expected to exhibit a CAGR of 8.3 % during the forecast period due to frequent launches and approvals of novel devices worldwide. For instance, in March 2021, Abbott announced the launch of its FDA-approved NeuroSphere Virtual Clinic by which deep brain stimulation patients can have their devices programmed and reset remotely, from the comfort of their homes without having to travel to a specialist.
- Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the deep brain stimulation devices market owing to the increasing prevalence of Parkinson’s disease, growing geriatric population, growing demand for minimally invasive procedures, and rapid adoption of new deep brain stimulation devices in these regions. For instance, according to the Parkinson’s Foundation, nearly one million people in the United States are living with Parkinson’s disease (PD), and approximately 60,000 Americans are diagnosed with PD each year.
Moreover, in January 2021, Medtronic plc announced the first enrollment in ADAPT-PD (Adaptive DBS Algorithm for Personalized Therapy in Parkinson’s), its trial evaluating the safety and efficacy of adaptive deep brain stimulation (aDBS) in patients with PD.
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Table of Content
Global Deep Brain Stimulation Devices Market Research Report
Section 1: Global Deep Brain Stimulation Devices Industry Overview
Section 2: Global Economic Impact on Deep Brain Stimulation Devices Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Deep Brain Stimulation Devices Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Deep Brain Stimulation Devices Market Forecast
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