Bizizz Market Research has recently published a research report, “Deep Brain Stimulation Market By disease Type (Pain Management, Epilepsy, Essential Tremor, Obsessive-Compulsive Disorder (OCD), Depression, Dystonia, Parkinson’s Disease and Others), End-user (Hospitals, Neurology Clinics, Ambulatory Surgical Centers and Research Centers), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Deep Brain Stimulation Market was valued at US$ XX Bn in 2018 and it is anticipated to reach a market value of US$ 2.8 Bn by 2027, witnessing a CAGR of 9.6 % during the forecast period. Key drivers of the market include an increase in the number of cases related to brain disorders coupled with the latest technological advancements in treating these diseases.
There are different DBS techniques that were approved by the European and US regulator institutions. Such as The US Food and Drug Administration (FDA) had approved Boston Scientific Corporation’s Vercise Deep Brain Stimulation (DBS) System. It is applicable to the treatment of symptoms related to Parkinson’s disease (PD). Moreover, researchers are improving their current DBS systems, parallel in developing the next-generation medical equipment’s. The researchers are utilizing DBS for targeting various facets of the brain and comprehending in the treatment of patients suffering from Parkinson’s disease. Considerable changes in the latest systems exhibit enhanced clinical results. Nevertheless, there are the latest advancements in DBS technology are encouraging a huge patient community and healthcare facilitators. Such advancements in the DBS technology had contributed to the market growth of deep brain stimulation devices globally.
The Deep Brain Stimulation market is anticipated to register a CAGR of over 9.6% during the forecast period.
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By Application, Parkinson’s disease segment held a prominent share in the Global Deep Brain Stimulation Market in 2018.
Key drivers fuelling the market growth of Deep Brain Stimulation is raising global cases of Parkinson’s disease. According to Parkinson’s News in 2018, approximately 1.2 Mn patients of the U.S. were expected to suffer from Parkinson’s disease by 2030. This disease had estimated as a second-most occurrence of the neurodegenerative disorder in the U.S. As per the NHS UK, Parkinson’s disease registered an average of 1 in 500 patients. There are various undetected patients in the context of Parkinson’s disease. The DBS is a surgical procedure treating Parkinson’s disease generally utilized in treating patients of Parkinson’s disease for at least four years and anticipated to treat through medications who are suffering from motor disorders. The latest technology of DBS is stimulating its market growth globally.
North America is anticipated to dominate the Global Deep Brain Stimulation Market during the Forecast Period
The U.S. Food and Drug Administration (FDA) had made available for deep brain stimulation (DBS) devices, especially Brio System, in 2015, in the treatment of Parkinson’s disease and essential tremor. The Brio System’s approval would boost the rapid advancement of DBS technology. Moreover, the Boston Scientific Corporation had made available of DBS by the approval made by the US Food and Drug Administration (FDA) in December 2017, for its Vercise Deep Brain Stimulation (DBS) System. Thus, such offerings along with the growth in the incidences related to Parkinson’s disease have supported in propelling the growth of the deep brain stimulation equipment market.
Global Deep Brain Stimulation market was moderately consolidated with key players accounting for a significant share in 2018. The companies are catering to the latest technology offerings to treat these brain-related diseases.
Prominent players operating in the Global Deep Brain Stimulation Market are Beijing PINS Medical Co. Ltd, Boston Scientific Corporation, Fisher Wallace, Abbott Laboratories (St. Jude Medical), Functional Neuromodulation Ltd, Medtronic PLC, NeuroPace Inc., and Renishaw PLC., among others.
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