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