According to Report, the Deep Brain Stimulation Devices market size is expected to hit around US$ 2.8 billion by 2030 and registering growth at a CAGR of 9.5% during forecast period 2021 to 2030.
According to Report, the Deep Brain Stimulation Devices market size is expected to hit around US$ 2.8 billion by 2030 and registering growth at a CAGR of 9.5% during forecast period 2021 to 2030.
Growth Factors
The market is expected to expand at a CAGR of 9.3% from 2021 to 2028. Surge in incidence of neurological disorders, growing awareness about the deep brain stimulation devices and introduction of technologically advanced productsis attributing to the growth of market.
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The incidence of neurological disorders such as Parkinson's disease, epilepsy, and depression is increasing globally, which is anticipated to positively impact the market growth. For instance, according to Depression and Bipolar Support Alliance, around 17.3 million adults in the U.S. are suffering from major depressive disorder. Thus, large number of people suffering from such conditions and disorders is expected to boost market growth during the forecast period.
Potential benefits of Deep Brain Stimulation (DBS) devices such as long-term benefits and better postoperative outcomes, are anticipated to fuel the market growth. Additionally, these advancements help clinical researchers in investigational efficacy studies for the inclusion of DBS devices in the treatment of other neurological disorders. Such factors are expected to raise the demand for DBS devices over the forecast period.
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Report Attributes |
Details |
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Market Size in 2021 |
USD 1.17 Billion |
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Revenue Forecast by 2030 |
USD 2.8 Billion |
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CAGR |
9.5% from 2022 to 2030 |
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Largest Market |
North America |
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Fastest Growing Region |
Asia Pacific |
Product Insights
Based on the product, the market is segmented into single-channel and dual-channel deep brain stimulation devices. The dual-channel segment is dominating the market with a share of 57.12% in 2021 owing to its higher adoption in surgical procedures. Dual channels is one of the safest and most effective devices used in surgical procedures. Thus, the high prevalence of disabling neurological diseases, the increasing number of surgical procedures for PD, and the growing number of hospitals using dual-channel DBS devices are driving the segment growth. Moreover, technological advancements and new product launches are further impelling segment growth. For instance, in January 2020, Abbott’s Infinity DBS system secured FDA approval for the expanded indication of received approval for Parkinson's disease from the U.S. FDA. This system will allow targeting of the specific area of the brain called internal Globus Pallidus (GPi), which is associated with Parkinson's disease symptoms.
However, the single-channel deep brain stimulation device segment is expected to grow at the highest compound annual growth rate (CAGR) of 10.0% from 2022 to 2030. Healthcare professionals believe that single-channel offers more programming options to neurologists, which led to an increased preference for single-channel DBS devices. According to the Parkinson’s Foundation, the geriatric population is more prone to neurological diseases. For instance, as per the World Ageing 2019 report, it is estimated that globally there were about 703 million people aged 65 years in 2019. Thus, the increasing geriatric population, growing awareness about neurological diseases among patients, and preference by healthcare professionals are anticipated to trigger the segment growth.
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Application Insights
Based on application, the market is segmented into pain management, epilepsy, essential tremor, obsessive-compulsive disorders (OCD), depression, dystonia, Parkinson's disease, and others. Parkinson's disease segment is dominating the market with a share of 65.13% in 2021 owing to the increasing number of U.S. FDA approvals for deep brain stimulation therapies and the high prevalence of PD worldwide. In December 2017, Boston Scientific Corporation received approval for the Vercise deep brain stimulation device system from the U.S. FDA for the treatment of PD. According to the Parkinson’s Foundation, around 60,000 people in the U.S. are diagnosed with PD every year. This is expected to drive the segment growth in the coming years.
However, the epilepsy segment is expected to grow at the highest compound annual growth rate (CAGR) of 16.1% from 2022 to 2030. Growing awareness about advanced treatment options for epilepsy coupled with developing healthcare infrastructure is expected to further fuel segment growth in the coming years. According to the World Health Organization (WHO), approximately 50 million people are suffering from epilepsy and it is one of the most common neurological diseases worldwide.DBS is used in epilepsy due to the low therapeutic response of medication in seizures and reduced success rates associated with surgeries. This will further lead to segment growth.
End-Use Insights
In the end-use segment, hospitals dominated the overall market growth with a share of 51.88% in 2021. The growth of this segment can mainly be attributed to the increase in the number of DBS surgeries performed in hospitals and the surge in the prevalence of Parkinson’s disease, essential tremor. Furthermore, the availability of technologically advanced DBS devices coupled with favorable reimbursement policies is expected to drive the hospital market further during the forecast period. For instance, Medtronic offers comprehensive services to secure and maintain coverage as well as payment for various DBS devices.
Furthermore, hospitals are currently advancing in terms of technology, and advanced devices are being extensively used in hospitals to provide better treatment. These devices are not just simplifying treatment procedures, but are also helping provide better, faster, and more accurate results. Mostly, all neurological disorders, including Parkinson’s disease, are diagnosed and treated by professional neurologists, who are available in specialty hospitals, using advanced equipment.
However, the Ambulatory Surgical Centers (ASC) segment is expected to grow at the highest compound annual growth rate (CAGR) of 10.3% from 2022 to 2030. This is due to the lower cost of procedures as compared to hospitals, convenient access to patient care, reduced waiting time, and low infection rate as compared to neurology clinics and hospitals. Furthermore, according to a study conducted by Advancing Surgical Care, 92% of patients were satisfied with the medical care and service provided in the ASCs, thus, boosting the segment growth. In addition, most of the neurosurgeries can now be performed at ASCs, as surgical procedures undertaken here are advanced and less invasive. Thus, the growth of the segment can majorly be attributed to shorter procedure time and ongoing advancements in minimally invasive surgical techniques.
Regional Insights
North America dominated the market with a share of 51.59% in 2021 owing to the increase in government funding and initiatives for raising awareness about Parkinson’s disease (PD) is expected to drive the demand for deep brain stimulators. For instance, in 2015, Parkinson’s Foundation funded more than 40 research projects for PD. In addition, an increase in FDA approvals for deep brain stimulators for the treatment of PD is contributing to the market growth. For instance, in October 2016, St. Jude Medical received approval from the U.S. FDA for its St. Jude Medical Infinity DBS and its directional lead technology for use in the treatment of PD.
Furthermore, the presence of major competitors, availability of sophisticated healthcare infrastructure, and supportive government initiatives are also responsible for the market growth in this region. For instance, the National Institute of Neurological Disorder and Stroke (NINDS) supports research activities related to DBS for determining its safety and effectiveness in the treatment of PD.
However, Asia Pacific is expected to significantly lead the market in the future from 2022 to 2030. This is attributed to the rising prevalence of neurodegenerative disorders coupled with the unmet demand for effective and long-term solutions. Rising awareness about neurological disease treatment options and improvements in the clinical development framework of emerging economies is expected to drive the market growth in this region. Moreover, the presence of high growth opportunities in developing countries such as Japan, China, and India are likely to contribute to the market growth. Furthermore, the establishment of organizations such as the Asia-Pacific Centre for Neuromodulation (APCN), which is founded for conducting research and promoting awareness about the associated benefits of deep brain stimulation, is anticipated to boost regional growth.
Key Players
- Abbott (St. Jude Medical)
- Medtronic
- Boston Scientific Corporation
- AlevaNeurotherapeutics S.A.
- Nexstim
- LivaNova PLC
- Neuropace Inc.
Market Segmentation
- Product Outlook
- Single Channel
- Dual Channel
- Application Outlook
- Pain Management
- Epilepsy
- Essential Tremor
- Obsessive Compulsive Disorder (OCD)
- Depression
- Dystonia
- Parkinson’s Disease
- Others
- End-use Outlook
- Hospitals
- Neurology Clinics
- Ambulatory Surgical Centers
- Research Centers
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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