DEEP BRAIN STIMULATION DEVICES MARKET ANALYSIS
Global deep brain stimulation device market size was valued at US$ 1,188.9 million in 2022 and is expected to witness a CAGR of 9.8% over the forecast period (2022 – 2030).
Figure 1. Global Deep Brain Stimulation Device Market Share (%), by Application, 2022
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 2022, 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 2021, the incidence rate of PD in the U.S is as high as 60,000, annually.
Increasing prevalence of epilepsy is also expected to boost demand for DBS devices. For instance, according to the data published by the World Health Organization, on February 9, 2022, around 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. Nearly 80% of people with epilepsy live in low and middle-income countries like India, Kenya and Bangladesh.
Therefore, high prevalence of PD and epilepsy worldwide is expected to drive the global deep brain stimulation devices market growth over the forecast period.
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.
Figure 2. Global Deep Brain Stimulation Device Market Share (%), by Region, 2022
Deep Brain Stimulation Devices Market Report Snapshots
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