May 18, 2020
As per the report titled ‘Global Deep Brain Stimulation 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 stimulation devices market was worth USD 0.9 billion in 2018 and is projected to expand at 9.5% CAGR over 2019-2026.
Deep brain stimulation (DBS) is a surgical procedure used for treating various neurological disorders such as debilitating motor symptoms of Parkinson's Disease, dystonia, and essential tremor. The treatment is approved by the U.S. Food and Drug Administration (FDA) for patients who cannot undergo epilepsy surgery wherein the tissues in the brain area that cause seizures are separated or eliminated.
According to a study, Global Burden of Disease 2015, approximately 6.2 million people worldwide suffered from Parkinson’s disease in 2015 and it is estimated that the number will grow to 13 million by the year 2040. Increasing prevalence of neurological disorders such as Parkinson’s disease, along with inflowing investments for neurological R&D, and surging demand for minimally invasive procedures on account of improved patient outcomes are driving the growth of global deep brain stimulation devices market.
However, growing availability of other treatment options including drug therapies and surgeries, coupled with stringent regulations & policies will hinder the market growth during the forecast period.
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As per the regional analysis, North America deep brain stimulation devices market is anticipated to display strong growth trends during the assessment period. According to Parkinson’s Disease Foundation, it is estimated that about 60,000 Americans are diagnosed with Parkinson’s disease each year. Wide availability of advanced deep brain stimulation devices across the region is supporting the regional market expansion.
Asia Pacific deep brain stimulation devices market is also expected to see substantial gains over the forecast period, owing to rising prevalence of neurodegenerative disorders and surging demand for effective and long-term treatment solutions in the region.
Major players in global deep brain stimulation devices market are Boston Scientific Corporation, Medtronic, Abbott, Functional Neuromodulation Ltd., Aleva Neurotherapeutics SA, Beijing PINS Medical Co., Ltd., Neuronetics Inc., NeuroPace Inc., Cyberonics, Inc., and Nevro Corporation.