Overview:
Deep brain stimulation is a neurosurgical medical procedure utilized in patients suffering from several neurological diseases like dystonia, essential tremor and Parkinson’s disease. In this medical procedure, thin copper electrodes are implanted in the cerebral cortex for delivering electric impulses, which alter the abnormal activities caused as a result of Parkinson’s disease. Deep brain stimulation does not fully cure the disorder, it helps in reducing the symptoms of the disease.
The global deep brain stimulation devices market for Parkinson’s disease is anticipated to be valued at US$ 3,567.6 Million in 2021 during the forecast period.
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Drivers:
Rising incidences of Parkinson’s disease is estimated to augment the growth of the global deep brain stimulation devices market for Parkinson’s disease during the forecast period. For instance, Nature journal published a study in July 2018, stating the prevalence of the disease in North America. It mentioned that in 2020, 930,000 individuals are expected to be suffering from Parkinson’s disease and by 2030 it will be 1,238,000.
Furthermore, increase population of elderly individuals is anticipated to propel growth of the global deep brain stimulation devices market for Parkinson’s disease during the forecast period. For instance, the U.S. Census Bureau estimated that by 2034,
Opportunities:
Advantages provided by deep brain stimulation as compared to other techniques is estimated to offer productive growth options for key players in the global deep brain stimulation devices market for Parkinson’s disease during the forecast period. For instance, a study from the Neurology journal, in June 2020, stated that deep brain stimulation can reduce the risk progression of the disease and also reduce the need for medicines in the early stages of Parkinson disease.
Furthermore, new advancements in the electrode designs of deep brain stimulation devices for Parkinson’s disease is estimated to fuel growth of the market.
Market Trends:
Deep brain stimulation devices used for Parkinson’s disease are unsafe from electromagnetic interference. According to a study in the Neurosurgery journal, in 2018, suggested that deep brain stimulation devices are unprotected from electromagnetic fields developed by other devices.
Research and developmental activities in deep brain stimulation is estimated to fuel growth of the global deep brain stimulation devices market for Parkinson’s disease. For instance, the journal Brain, published a study, mentioning that connections between various nerve cells can be the reason for developing behavioral problems and impulsivity in patients suffering from Parkinson’s disease.
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Key Takeaways:
In 2020, the dual-channel, among product accounted for 31.8% shares and it is estimated to reach up to 2,001.2 million by 2028, in the global deep brain stimulation devices marketfor Parkinson’s disease.
Increase in new studies on dual channel deep brain stimulation system is expected to fuel growth of the global deep brain stimulation devices marketfor Parkinson’s disease. For instance, a research comparing dual channel and single channel deep brain stimulation system, published in the Korean Movement Disorder Society, in 2020, mentioned that dual channel systems like G102, G102R and SceneRay, had increased access of neurologists for assessing and treating Parkinson’s disease.
Restraints:
The tax which is imposed on medical devices is anticipated to hamper the growth of the global deep brain stimulation devices market for Parkinson’s disease during the forecast period. The Affordable Care Act mentioned that 2.3% of excise tax will be imposed on manufacturers and importers of medical equipment and devices.
Furthermore, deep brain stimulation is used for high refractory patients only and it is expected to hinder the growth of the global deep brain stimulation devices market for Parkinson’s disease during the forecast period.
Key Players:
Key players active in the global deep brain stimulation devices market for Parkinson’s disease are MEDTRONIC, Inc, Aleva Neurotherapeutics SA, Sapiens Neuro and Boston Scientific Corp.
Key Developments:
Key players in the global deep brain stimulation devices market for Parkinson’s disease are focusing on receiving approval for new products. For instance, Aleva Neurotherapeutics gained approval for their product direct STIMTM in December 2019.
Recent Developments:
Various companies have been launching new devices for deep brain stimulation devices with advanced technological advancements, which can drive growth of the global deep brain stimulation devices market for Parkinson’s disease.
For instance, , Medtronic plc declared about the enrollment of their Adaptive DBS Algorithm for Personalized Therapy in Parkinson’s Disease in January 2021. Clinical trials of the Percept PC device can determine the efficacy and safety of the device and also help in providing therapy and management of symptoms related to Parkinson’s disease.
Technological advancements in the deep brain stimulation devices is expected to augment growth of the global deep brain stimulation devices market for Parkinson’s disease market. For instance, University of Houston biomedical engineer has shown evidences in the Nature Communications Biology in March 2021, mentioning that stimulating higher frequencies can bring about resonating waveforms which can be used for recalibration of dysfunctional circuits. This technology is helpful in treating Parkinson’s disease.
North America is expected to witness robust growth in the global deep brain stimulation devices market for Parkinson’s disease, followed by Europe and Asia Pacific. Rise in adoption of deep brain stimulation devices is expected to augment growth of the Global Deep Brain Stimulation Devices Market for Parkinson’s disease market. For instance, neurosurgeons from the University of Florida Health, in June 2021, implanted Medtronic’s SenSight Directional Lead System in patients of Parkinson’s disease and this was helpful in monitoring brain signals in real-time.
The following are the study objectives for this report:
✔SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyse market competition. By kind, application, and region, the market is defined, described, and forecasted.
✔Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
✔Determine whether trends and factors are driving or limiting market growth.
✔By identifying high-growth categories, stakeholders would be able to analyse market potential.
✔Conduct a strategic study of each submarket’s growth trends and market contribution.
✔Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
✔To create a strategic profile of the main players and analyse their growth plans in depth.
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Table of Contents with Major Points:
1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2022-2028 (USD Billion)
1.2.1. Deep Brain Stimulation Devices Market, by Region, 2022-2028 (USD Billion)
1.2.2. Deep Brain Stimulation Devices Market, by Type, 2022-2028 (USD Billion)
1.2.3. Deep Brain Stimulation Devices Market, by Application, 2022-2028 (USD Billion)
1.2.4. Deep Brain Stimulation Devices Market, by Verticles, 2022-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
2. Global Deep Brain Stimulation Devices Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
3. Global Deep Brain Stimulation Devices Market Dynamics
3.1. Deep Brain Stimulation Devices Market Impact Analysis (2022-2028)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
4. Global Deep Brain Stimulation Devices Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2022-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
5. Global Deep Brain Stimulation Devices Market, by Type
5.1. Market Snapshot
5.2. Global Deep Brain Stimulation Devices Market by Type, Performance – Potential Analysis
5.3. Global Deep Brain Stimulation Devices Market Estimates & Forecasts by Type 2022-2028 (USD Billion)
5.4. Deep Brain Stimulation Devices Market, Sub Segment Analysis
6. Global Deep Brain Stimulation Devices Market, by Application
6.1. Market Snapshot
6.2. Global Deep Brain Stimulation Devices Market by Application, Performance – Potential Analysis
6.3. Global Deep Brain Stimulation Devices Market Estimates & Forecasts by Application 2022-2028 (USD Billion)
6.4. Deep Brain Stimulation Devices Market, Sub Segment Analysis
6.4.1. Others
7. Global Deep Brain Stimulation Devices Market, by Verticles
7.1. Market Snapshot
7.2. Global Deep Brain Stimulation Devices Market by Verticles, Performance – Potential Analysis
7.3. Global Deep Brain Stimulation Devices Market Estimates & Forecasts by Verticles 2022-2028 (USD Billion)
7.4. Deep Brain Stimulation Devices Market, Sub Segment Analysis
8. Global Deep Brain Stimulation Devices Market, Regional Analysis
8.1. Deep Brain Stimulation Devices Market, Regional Market Snapshot
8.2. North America Deep Brain Stimulation Devices Market
8.3. Europe Deep Brain Stimulation Devices Market Snapshot
8.4. Asia-Pacific Deep Brain Stimulation Devices Market Snapshot
8.5. Latin America Deep Brain Stimulation Devices Market Snapshot
8.6. Rest of The World Deep Brain Stimulation Devices Market
9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Keyplayer1
9.2.1.1. Key InDurationation
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
…
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