The Global Deep Brain Stimulation Devices Market size, by Application (Parkinson's Disease, Essential Tremor, Dystonia, and Others), by End User (Hospital & Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 1,188.9 Million in 2022, and is expected to exhibit a CAGR of 9.8% over the forecast period (2022 – 2030).
Key players in the market are focused on launching novel DBS therapies to expand their market share, which is expected to boost the market growth. For instance, in February 2019, Medtronic plc., launched its novel Deep Brain Stimulation (DBS) for medically-refractory epilepsy in the U.S. The newly launched DBS therapy uses a surgically implanted medical device, similar to a cardiac pacemaker, to deliver electrical stimulation to precisely targeted areas of the brain as adjunctive treatment for several neurological disorders. Increasing approval of new DBS systems is also expected to boost the market growth. For instance, in June 2021, Medtronic, a U.S. based medical device company, lands US FDA approval for brain stimulation leads (SenSight directional lead system) it expects to drive share gains. The SenSight leads have two functions that physicians previously had to choose between. SenSight implants both send electrical signals to treat movement disorders such as Parkinson’s disease, and capture brain signals that may inform the care of the patient.
Global Deep Brain Stimulation Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus or COVID-19 outbreak started in Wuhan, China in 2019 and has spread across all the continents of the world, affecting various industries globally. The economy in countries all over the world such as India, Italy, Bangladesh, Sri Lanka, the U.S., Morocco, and others has been disrupted due to lockdowns implemented by governments to combat the spread of coronavirus since 2020.
The COVID-19 pandemic has considerably impacted medical care and patients’ lives but elective procedures, such as DBS surgery for PD. For instance, in December 2020, according to the reports published in National Center for Biotechnology Information stated that lockdown restriction measures were associated with subjective worsening of motor and psychiatric symptoms in Parkinson Disease and dystonic patients treated with DBS, and that such measures may have exacerbated the burden of neurological disease and increased the chronic stress related to the DBS management.
Moreover, from the same above source a survey was carried out on behalf of the Parkinson Study Group (PSG) to understand the impact of the shutdown on deep brain stimulation (DBS) practices in North America in which 87% of sites reported that patients elected to cancel or postpone DBS electrode implants due to concern for COVID-19 exposure.
Thus, impact of the Coronavirus (COVID-19) pandemic has hindered the growth of the global deep brain stimulation device market during the forecast period.
Global Deep Brain Stimulation device Market: Key Developments
Increasing collaborations among key players to develop and introduce new deep brain stimulation device are expected to drive growth of the DBS device market. For instance, in January 2020, Abbott, a U.S. based multinational medical devices and health care company, announced that it had received approval from the U.S. Food and Drug Administration (FDA) for a new, expanded indication for the company's Infinity Deep Brain Stimulation (DBS) system to include targeting of an area of the brain called the internal Globus pallidus (GPi). The GPi plays an integral role in the motor function and can be targeted with DBS to improve the symptoms of Parkinson's disease not adequately controlled by medication.
In March 2020, NeuroPace, Inc., a medical technology company, announced that its RNS System has received U.S. Food and Drug Administration (FDA) approval of MRI labeling for the RNS (responsive neurostimulation) System, expanding treatment options for the approximately 1 million patients in the U.S. living with seizures that do not respond to medication.
Browse 31 Market Data Tables and 29 Figures spread through 150 Pages and in-depth TOC on Global Deep Brain Stimulation Devices Market, by Application (Parkinson's Disease, Essential Tremor, Dystonia, and Others), by End User (Hospital & Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2030
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/deep-brain-stimulation-devices-market-84
DBS devices are used in the treatment of diseases such as epilepsy and Parkinson’s disease. Therefore, high prevalence of these diseases is expected to drive demand for DBS devices, thereby propelling the global deep brain stimulation devices market growth over the forecast period. For instance, according to the data published by the Parkinson's Foundation, around one million people are expected to suffer from Parkinson's disease (PD) in the U.S. by 2020, and around 60,000 people in the U.S are diagnosed with PD, annually. According to the data published by Epilepsy Foundation, in 2015, around 3.4 million adults and children have active epilepsy in the U.S. The number increased from 2.3 million adults in 2010 to 3.4 million in 2015.
Key Takeaways of the Global Deep Brain Stimulation Devices Market:
- The global deep brain stimulation devices market is expected to exhibit a CAGR of 9.8% over the forecast period (2022–2030), owing to increasing product launches and approvals and robust pipeline of novel deep brain stimulation devices
- According to the World Health Organization, it was estimated that prevalence rate of Parkinson's disease was 8.5 million globally. moreover, in 2019, Parkinson Disease resulted in 5.8 million disability-adjusted life years, an increase of 81% since 2000, and caused 329 000 deaths, an increase of over 100% since 2000. the Parkinson's Disease has doubled in past 25 years
- Key players in the market are focused on approval and launch of technologically advanced products. For instance, in June 2021, Medtronic plc, the global medical technology, announced the U.S. Food and Drug Administration (FDA) approval and U.S. implants of the SenSight Directional Lead System used for Deep Brain Stimulation (DBS) therapy. SenSight is DBS directional lead that combines the benefits of directionality with the power of sensing, allowing physicians to deliver precise, patient-specific DBS therapy for the treatment of some symptoms associated with movement disorders like Parkinson's disease, dystonia and essential tremor, and medically refractory epilepsy.
- Furthermore, key players in the market are focused on adopting strategic partnerships and collaborations for the development and commercialization of novel deep brain stimulation devices. For instance, in August 2021, Mount Sinai, an integrated health care system, partners with Studio Elsewhere, design and technology studio, to launch Q-Lab, Q-Lab is an multi-modal research environment for comprehensive assessment and rehabilitative care of deep brain stimulation patients and surgery candidates across neuropsychiatric disorders including depression, Parkinson’s disease, obsessive compulsive disorder, and others.
- Major 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.
