Increasing investments in research and development activities, rising demand for minimally invasive procedures and rising public awareness in several developed and developing countries are expected to drive global market revenue growth.
Increasing investments in research and development activities, rising demand for minimally invasive procedures and rising public awareness in several developed and developing countries are expected to drive global market revenue growth
Emergen Research has published its latest report titled, “Deep Brain Stimulation (DBS) Systems Market Analysis, By Product (Dual-Channel & Single Channel), By Application (Parkinson’s Disease, Pain Management, Obsessive-Compulsive Disorder (OCD), Epilepsy, Essential Tremor, Depression, Dystonia), By End Use, By Region, Forecasts To 2027”
According to Emergen Research, the global deep brain stimulation (DBS) systems market size was USD 1277.5 million in 2019 and is expected to reach USD 2122.8 million in 2027 and register a revenue CAGR of 8.1% during the forecast period, 2020-2027.
Market Dynamics:
Deep brain stimulation (DBS) is a neurological procedure that involves implantation of electrodes in brain that delivers electrical impulses to block abnormal activity causing symptoms. The DBS has three parts including neurostimulator, led, and an extension that coordinate electric pulses and help in reducing symptoms of tremors, stiffness, slowness, and walking problems caused by many neurological diseases. One of the key factors surging demand for deep brain stimulation systems is the increasing prevalence of lifestyle-associated diseases such as chronic pain and depression, neurological disorders such as Parkinson’s disease, Alzheimer’s disease, dystonia, multiple sclerosis, and epilepsy among others.
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Revenue growth of the global market is attributed to factors such as technological advancements in deep brain stimulating systems including rechargeable implantable pulse generators, robot-assisted implantation, and rising adoption of advanced DBS systems in many hospitals, ambulatory care services, and neurological centers. In addition, increasing geriatric population and rising focus on developing advanced products are expected to fuel market growth going ahead. However, high cost of DBS devices, limited access to advanced treatment, and availability of other treatments such as surgeries and drug therapies, and high chances of side effects of DBS products are expected to hamper overall market growth during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Epilepsy Segment to Register Highest Revenue Growth:
The epilepsy segment is expected to register highest revenue growth over the forecast period. This can be attributed to rising incidence of epilepsy across the globe, high usage of deep brain stimulation due to low therapeutic response to other treatments, and increasing awareness about availability of advanced treatments and products.
Hospital Segment to Account for Largest Revenue Share:
The hospital segment is expected to account for largest revenue share over the forecast period owing to increasing prevalence of various neurological disorders, availability of advanced technological systems for complicated surgeries, improving healthcare infrastructure and treatment facilities.
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Asia Pacific to Register Rapid Revenue CAGR:
Asia Pacific market revenue is expected to expand at a rapid CAGR during the forecast period owing to increasing prevalence of various chronic diseases such as Parkinson’s disease, OCD, epilepsy, and depression across the region, improving healthcare infrastructure and rising awareness about deep brain stimulation devices. In addition, increasing healthcare spending, increasing adoption of advanced treatment and devices, increasing number of hospitals and neurology centers across the region are expected to fuel Asia Pacific market growth during the forecast period.
Major Companies in the Market Include:
- Abbott Laboratories
- Aleva Neurotherapeutics SA
- Boston Scientific Corporation
- Functional Neuromodulation Ltd.
- Beijing PINS Medical Co., Ltd.
- Medtronic plc
- NeuroPace Inc.
- Nevro Corporation
- Neuronetics Inc.
For the purpose of this report, Emergen Research has segmented Deep Brain Stimulations (DBS) systems on the basis of product, application, end use and region:
Product Outlook (Revenue, USD Million; 2017-2027)
- Dual Channel
- Single Channel
Application Outlook (Revenue, USD Million; 2017-2027)
- Fluid Replacement
- Parkinson’s Disease
- Pain Management
- Obsessive-Compulsive Disorder (OCD)
- Epilepsy
- Essential Tremor
- Depression
- Dystonia
- Others
End Use Outlook (Revenue, USD Million; 2017-2027)
- Hospitals
- Ambulatory Care Center
- Neurology Center
- Others
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Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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