Rising geriatric population, growing prevalence of neurological disorders such as Parkinson’s disease, epilepsy, and dystonia, and continuous advancements in neurosurgical technologies are among the key factors expected to drive market revenue growth.
Rising geriatric population, growing prevalence of neurological disorders such as Parkinson’s disease, epilepsy, and dystonia, and continuous advancements in neurosurgical technologies are among the key factors expected to drive market revenue growth
New York, December 14, 2021 – Reports and Data has published its latest report titled “Deep Brain Stimulation Devices Market, By Product Type (Single-channel Deep Brain Stimulators, Dual-channel Deep Brain Stimulators), By Application (Parkinson’s Disease, Epilepsy, Essential Tumors, Obsessive Compulsory Disorder, Dystonia, and Others), By End-use (Hospitals & Clinics, Ambulatory Surgical Centers, Neurological Clinics, Academic and Research Institutes, and Others), and By Region, Forecast to 2028”
According to the latest report by Reports and Data, the global deep brain stimulation devices market size was USD 1.15 Billion in 2020 and is expected to reach USD 2.48 Billion in 2028 and register a revenue CAGR of 10.2% during the forecast period, 2021-2028.
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Drivers, Restraints, and Opportunities:
The global deep brain stimulation devices market revenue growth is supported by key factors such as rising prevalence of chronic neurological disorders such as Parkinson’s disease, epilepsy, and essential tumor, growing need for advanced equipment and solutions for treatment of the neurological diseases, and emergence of technologically advanced solutions, such as thin film electrodes that reduce the risk of infections, level of invasiveness, post-operative complications, and hence, patient discomfort. Growing use of the deep brain stimulation (DBS) technique in treatment of various neurological disorders, rising demand for minimally invasive surgical procedures, and rapid development of DBS devices with advancements in leads, extensions, and batteries are other major factors expected to contribute significantly to the global deep brain stimulation devices market revenue growth over the upcoming years.
Deep brain stimulation (DBS) is a neurosurgical procedure that is performed to enable targeted circuit-based neuromodulation in the brain. DBS is a widely known therapy for neurodegenerative disorders such as Parkinson’s disease, Alzheimer’s disease, dementia, dystonia, essential tumor, epilepsy, and Tourette syndrome (TS); depressive disorders; and neuropsychiatric disorders including obsessive compulsory disorder (OCD). The procedure mainly involves implantation of a neurostimulator that delivers electrical impulses to the brain’s targeted areas and regulates chemical imbalances or abnormal activities in the brain that lead to various neurological conditions. Rising incidences of road accidents and severe physical injuries, increasing cases of traumatic brain injury, and increasing approvals by healthcare regulatory bodies such as the U.S. FDA for new and more advanced deep brain stimulation devices and solutions are factors expected to further drive the revenue growth of the global market in near future.
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
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Dual-channel Deep Brain Stimulators Segment Accounted for Largest Revenue Growth in 2020:
Based on product type, the global deep brain stimulation devices market is segmented into single-channel deep brain stimulators and dual-channel deep brain stimulators. The dual-channel deep brain stimulators segment held the largest revenue share in the global market in 2020. Major factors contributing to this segment’s revenue growth are rising prevalence of Parkinson’s disease, dystonia, OCD, essential tumors, and other neurological disorders, increasing volumes of neurological surgeries, and growing use of dual-channel based deep brain stimulation devices in neurosurgical procedures due to their higher safety and efficacy than the single-channel devices.
Parkinson’s disease Application Segment to Lead in Terms of Fastest Revenue CAGR:
Based on application, the global deep brain stimulation devices market is segmented into Parkinson’s disease, epilepsy, essential tumor, OCD, dystonia, and others. The Parkinson’s disease segment is expected to register the fastest revenue CAGR in the global market over the forecast period. Rising geriatric population, increasing burden of neurological disorders such as Parkinson’s disease, increasing rate of hospital admissions for neurosurgical procedures, and growing use of deep brain stimulation devices in treatment of the neurodegenerative disease to improve motor symptoms and enhance the patients’ quality of life are key factors expected to drive this segment’s revenue growth.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America deep brain stimulation devices market was the most dominant in terms of revenue share in the global market in 2020. Increasing occurrences of neurological disorders such as epilepsy, dementia, and Parkinson’s disease, rapid adoption of advanced deep brain stimulation devices in treatment procedures, continuous advancements in neurosurgical technologies, and increasing R&D programs and clinical studies aimed at further improving the efficacy of DBS devices are key drivers for the North America market revenue growth. Rising government investments in the healthcare sector, increasing regulatory approvals for new neurosurgery techniques and solutions, and presence of state-of-the-art healthcare infrastructure and leading market players in the region, including Boston Scientific Corporation, Abbott Laboratories, and Neuronetics Inc., further drive the North America market growth.
Major Companies in the Global Deep Brain Stimulation Devices Market Include:
- Boston Scientific Corporation
- Abbott Laboratories
- Medtronic PLC
- Neuronetics Inc.
- Beijing PINS Medical Co., Ltd.
- NeuroPace Inc.
- Functional Neuromodulation Ltd.
- Nevro Corporation
- LinaNova PLC
- NeuroOne Medical Technologies Corp.
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Market Segmentation:
For the purpose of this report, Reports and Data has segmented the global deep brain stimulation devices market based on product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Single-channel Deep Brain Stimulators
- Dual-channel Deep Brain Stimulators
Application Outlook (Revenue, USD Billion; 2018-2028)
- Parkinson’s Disease
- Epilepsy
- Essential Tumor
- Obsessive Compulsory Disorder (OCD)
- Dystonia
- Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Neurological Clinics
- Academic and Research Institutes
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of Middle East & Africa
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