The global Deep Brain Stimulation (DBS) Parkinson’s Disease Market size reached a value of USD 2.3 Billion in 2022 and is projected to achieve a revenue Compound Annual Growth Rate (CAGR) of 8.5% in the forecast period, as indicated in the latest report from Reports and Data.
Parkinson’s disease, a chronic and degenerative movement disorder, affects millions of individuals worldwide, with a higher prevalence in industrialized nations. The rising incidence of Parkinson’s disease, coupled with the limited effectiveness of current treatments, is expected to drive the growth of market revenue.
Deep Brain Stimulation (DBS), a neurosurgical procedure used to manage Parkinson’s disease, entails the placement of electrodes in specific brain regions to regulate abnormal impulses and enhance motor function in Parkinson’s patients. The market’s expansion is primarily driven by the growing demand for minimally invasive surgical techniques and the introduction of innovative DBS technology. Notably, the precise positioning of electrodes in the brain, made possible by advanced imaging techniques such as CT and MRI, contributes to the market’s growth.
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Additionally, there has been a significant increase in research and development (R&D) efforts aimed at developing new DBS systems and improving the procedure’s effectiveness and safety. The market is experiencing substantial growth due to ongoing clinical trials assessing the potential of DBS in treating various neurological conditions, including epilepsy, depression, and obsessive-compulsive disorder.
Key players in the Deep Brain Stimulation (DBS) Parkinson’s Disease Market:
- Medtronic
- Boston Scientific Corporation
- Jude Medical
- Abbott Laboratories
- Aleva Neurotherapeutics
- Sapiens Neuro
- SceneRay Corporation
- Beijing PINS Medical Co. Ltd.
- Magstim
- Fisher Wallace
Some Key Highlights in the Report:
- In 2021, a significant portion of the revenue was attributed to single-channel deep brain stimulation (DBS) due to its effectiveness and cost-efficiency. DBS involves implanting electrodes into specific brain regions to manage Parkinson’s disease symptoms. Single-channel DBS, a less invasive procedure using a single electrode, offers a more economical alternative compared to dual-channel DBS and other advanced treatments. Moreover, its simplicity makes it a preferred choice for patients seeking a less complex option.
- In 2022, the hospitals segment emerged as the leading revenue contributor for several reasons. The availability of skilled medical professionals and state-of-the-art hospital facilities played a pivotal role. Hospitals are equipped with advanced technology and employ experienced neurosurgeons crucial for performing DBS surgeries. Furthermore, hospitals possess the essential resources and infrastructure to provide comprehensive patient care, including crucial post-operative support and rehabilitation services, essential for the procedure’s overall success. Consequently, this segment is experiencing revenue growth as hospitals remain the preferred choice for Parkinson’s disease patients seeking DBS treatment.
- In 2022, the North American market dominated revenue share, driven by two primary factors: a growing elderly population and an increasing prevalence of Parkinson’s disease. Additionally, the rising awareness of the benefits of DBS therapy for treating Parkinson’s disease is expected to boost revenue in this region. Furthermore, the number of research and development initiatives focused on DBS therapy is on the rise, contributing to the anticipated revenue growth in the market.
- The Asia Pacific market is projected to achieve the highest compound annual growth rate (CAGR) in revenue throughout the forecast period. This growth in the region can be attributed to two major factors: a rising elderly population and an increasing prevalence of Parkinson’s disease, particularly in countries like China, India, and Japan. These factors are expected to propel revenue growth in the market.
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For the purpose of this report, Reports and Data has segmented the global Deep Brain Stimulation (DBS) Parkinson’s disease market on the basis of Product Type Outlook, End-use Outlook, and Regional Outlook:
Product Type Outlook (Revenue, USD Billion; 2022 – 2032)
- Single-channel DBS
- Duel-channel DBS
- Others
End-use Outlook (Revenue, USD Billion; 2022 – 2032)
- Hospitals
- Ambulatory Surgery Centers
- Others
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Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2020–2021) and forecast (2022–2032) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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