Overview:
Deep brain stimulation is a medical procedure in which electrodes are used for treating disorders associated with movement like Parkinson’s disease, dystonia, essential tremor and some other neurological disorders. Deep brain stimulation devices can be used for patients in the last stage of the disorder when the complications have increased. This therapy has been proven to be effective and an advance surgical alternative for treating Parkinson’s disease.
Global Deep Brain Stimulation Devices Market for Parkinson’s disease is estimated to be valued at US$ 6,234.3 Million by 2028.
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Impact of Covid-19:
Patients of Parkinson’s disease do not have the risk of getting infected by COVID-19. However, patients of Parkinson’s disease can experience difficulties if they get infected by the coronavirus. Various studies have shown evidences depicting the effect of SARS-CoV-2 and the symptoms of Parkinson’s disease. In rare cases, people infected with COVID-19 have shown symptoms similar to Parkinson’s disease. However, people with Parkinson’s disease are at a huge risk if they are not given the vaccine for COVID-19.
Drivers:
Increase in product launches and approvals is estimated to fuel growth of the global deep brain stimulation devices market for Parkinson’s disease during the forecast period. For instance, the U.S. Food and Drug Administration, approved Percept PC Neurostimulator manufactured by Medtronic Plc, in June 2020. This is used for providing a more personalized deep brain stimulation therapy for individuals suffering with Parkinson’s disease.
Opportunities:
Increasing research and development activities in the deep brain stimulation is anticipated to offer productive growth opportunities for players in the global deep brain stimulation devices market for Parkinson’s disease. For instance, an article was published in the journal Neurology, stating that the patients suffering from Parkinson’s disease and having the risk of developing dementia may not be caused due to deep brain stimulation.
Restraints:
Various risks are involved in deep brain stimulation devices for Parkinson’s disease and these are expected to hamper growth of the global deep brain stimulation devices market for Parkinson’s disease during the forecast period. Post-surgery complications like paralysis, cerebral hemorrhage, speech impairment, and stroke are witnessed in deep brain stimulation for Parkinson’s disease.
Key Takeaways:
- The global deep brain stimulation devices market for Parkinson’s disease was valued at US$ 3,324.5 Million in 2020 and is estimated to reach a value of US$ 6,234.3 Million by 2028 at a CAGR of 8.3%.The dual channel segment which was valued at US$ 1,057.2 Million in 2020 and is anticipated to witness a CAGR of 7.8% during the forecast period.
Market Trends
Increasing research and development in the deep brain stimulation is anticipated to augment growth of the global deep brain stimulation devices market for Parkinson’s disease. For instance, Magnetoelectric Materials for Miniature, Wireless Neural Stimulation at Therapeutic Frequencies, study was published in the journal Neuron in June 2020. This study proposed that a wireless, miniature neural stimulator, which is powered magnetically can be used deep brain stimulation therapy for Parkinson’s disease.
Deep brain stimulation can be useful for patients in the last stage of Parkinson’s disease. For instance, the study published in the journal Movement Disorders, “Should We Consider Deep Brain Stimulation Discontinuation in Late‐Stage Parkinson’s Disease?” stated that many patients in the last stage of Parkinson’s disease showed benefited by continuing their treatment using sub thalamic deep brain stimulation.
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Key Players:
Key players active in the global deep brain stimulation devices market for Parkinson’s disease are MEDTRONIC, Inc., Sapiens Neuro, Boston Scientific Corporation, Aleva Neurotherapeutics SA and St Jude Medical, Inc.
Key Developments:
Medtronic, Plc declared that their Activa patient programmer technology used for deep brain stimulation therapy will be available in the United States of America, in November 2019. Tis can be used for treating patients with movement disorders and Parkinson’s disease.
Recent Developments:
Rising technological advancements responsible for the development and enhancing deep brain stimulation devices can contribute to the growth of global deep brain stimulation devices market for Parkinson’s Disease. For instance, the Mayo Clinic and the Google Research Brain Team, developed an AI (artificial intelligence) algorithm for determining the interaction between various regions of the brain. This improves the way brain stimulating devices treat Parkinson’s disease.
Moreover, rising product approvals is also estimated to propel growth of the for Parkinson’s Disease market. For instance, Abbott gained approval from the U.S. Food and Drug Administration, in January 2020, for their Infinity Deep Brain Stimulation system. This system targets the area in the brain called as internal globus pallidus, which plays an important role in motor functions.
Similarly, Boston Scientific Corporation also gained approval from the U.S. Food and Drug Administration, in January 2021, for their Vercise Genus Deep Brain Stimulation System. This can be used for delivering electrical stimulation by using surgical implants in the brain, for treating Parkinson’s disease. Such advancements in technology can help in enhancing the treatment of Parkinson’s disease, which will fuel growth of the global deep brain stimulation devices market for Parkinson’s disease.
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Deep Brain Stimulation Devices Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Deep Brain Stimulation Devices Industry Impact
Chapter 2 Global Deep Brain Stimulation Devices Competition by Types, Applications, and Top Regions and Countries
2.1 Global Deep Brain Stimulation Devices (Volume and Value) by Type
2.3 Global Deep Brain Stimulation Devices (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Deep Brain Stimulation Devices Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Deep Brain Stimulation Devices Market Analysis
Chapter 6 East Asia Deep Brain Stimulation Devices Market Analysis
Chapter 7 Europe Deep Brain Stimulation Devices Market Analysis
Chapter 8 South Asia Deep Brain Stimulation Devices Market Analysis
Chapter 9 Southeast Asia Deep Brain Stimulation Devices Market Analysis
Chapter 10 Middle East Deep Brain Stimulation Devices Market Analysis
Chapter 11 Africa Deep Brain Stimulation Devices Market Analysis
Chapter 12 Oceania Deep Brain Stimulation Devices Market Analysis
Chapter 13 South America Deep Brain Stimulation Devices Market Analysis
Chapter 14 Company Profiles and Key Figures in Deep Brain Stimulation Devices Business
Chapter 15 Global Deep Brain Stimulation Devices Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology
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