July 17, 2020
According to the research report titled ‘Global Deep Brain Simulation Devices Market Size study, by Product (Single Channel Deep Brain Stimulator, Dual Channel Deep Brain Stimulator), by Application (Pain Management Epilepsy, Parkinson’s Disease, Essential Tremor, Others), by End-Use (Hospitals, Neurology Clinics, Ambulatory Surgical Centers, Research Centers) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global deep brain simulation devices market was worth USD 0.9 billion in 2018 and is expected to expand with a CAGR of 9.5% through 2026.
Rising pervasiveness of neurological diseases like Parkinson’s, increasing investment for neurological research & development, and surging demand for minimally invasive techniques owing to better patient outcomes are projected to drive the growth of global deep brain simulation devices market over the study period.
For the uninitiated, deep brain simulation (DBS) is a surgical procedure performed for treating several neurological disorders like weakening motor prodrome of dystonia, essential tremor, and Parkinson’s disease (PD). Patients who do not show any response to medicines for five years are recommended deep brain simulation therapy. The procedure involves insertion of electrodes in affected areas of brain, which then delivers electric impulses for addressing abnormal signals. This therapy is approved by the U.S. Food and Drug Administration, for patients who cannot undergo epilepsy surgery, wherein, the part of the brain that gives rise to seizures is removed.
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As per Global Burden of Disease study, in 2015, the prevalence of Parkinson’s disorder reached 6.2 million cases globally, with the numbers anticipated to rise to 13 million by the year 2040. Whereas, according to Parkinson’s Disease Foundations, 60,000 Americans are affected with Parkinson’s disease each year. These estimations indicate a higher demand for deep brain simulation devices in the coming years. Although, availability of alternative treatment options like surgeries and drug therapies, along with strict regulatory norms & policies may impede the market growth over the analysis period.
Citing the regional landscape, global deep brain simulation devices market is fragmented into Latin America, Europe, North America, Asia Pacific, and Rest of the World. North America presently holds significant market share, pertaining to rising instances of patients diagnosed with Parkinson’s disease and high availability of advanced deep brain simulation (DBS) devices in the region.
Meanwhile, Asia Pacific deep brain simulation devices market is slated to grow substantially over the anticipated timeline, attributable to increasing burden neurodegenerative disorders and unfulfilled demand for long-term & effective solutions in the region.
Major players in global deep brain simulation devices market are NeuroPace Inc., Beijing PINS Medical Co., Ltd., Functional Neuromodulation Ltd., Aleva Neurotherapeutics SA, Abbott Laboratories, Boston Scientific Corp., and Medtronic plc.