The Global Market for Deep Brain Stimulation Devices is Projected to Reach US$1.2 Billion by 2024
Growing Incidence of
Parkinson’s Disease, Technological Advancements, and Increased R&D Drive
the Global Deep Brain Stimulation Devices Market, According to a New Report by Global
Industry Analysts, Inc.
GIA launches comprehensive analysis of industry segments, trends,
growth drivers, market share, size, and demand forecasts on the global Deep
Brain Stimulation Devices market. The global market for Deep
brain stimulation devices is projected to reach US$1.2 billion by 2024, driven by increasing prevalence of Parkinson’s disease,
increased research and development, and technological advancements.
The global Deep Brain Stimulation (DBS) devices market is driven by growing
incidence and prevalence of targeted neurological conditions, including
Parkinson’s disease; high unmet needs; increasing awareness; growing evidence
of DBS effectiveness; and novel devices. Product innovations, technological
advancements, and increased research and development are the other factors
driving the demand for deep brain stimulation devices. Patients are finding
these DBS devices much useful because they eliminate side effects of
medications. And since surgeries for implanting DBS devices are minimally
invasive, they leave behind limited scars and also heal faster. However, market
restraints include high device costs and infection risk at the site of implant.
Over the recent years, the deep brain stimulation space witnessed the
emergence of new pulse generators, replacing conventional products with limited
functionality and agility. Novel features, such as voltage as well as current
mode stimulation, interleaving stimulation, or multiprogramming became a
possibility with these devices. Also, a DBS system has now become full body MRI
tolerable, while earlier devices were approved for only partial body scans. Yet
another significant development has been the shift towards closed loop
functionality, which generates stimulation based on activation from sensors,
thereby addressing the negative outcomes of continuous stimulation seen with
traditional DBS systems. Closed loop stimulation has been shown in studies to
be more effective than the conventional open-loop based systems. Other advances
include multidirectional DBS leads. Despite the ongoing progress in system
design, there are several areas of DBS that remain unexplored that could be the
target for future developmental efforts. For instance, there have lately been
studies for ascertaining deep brain stimulation’s positive impact on the
hippocampus and entorhinal cortex regions of the brain. With tremendous
potential that exists for DBS technology in terms of unmet medical needs and
myriad indications that can be targeted, the future presents exciting
opportunities for the technology that would in turn drive innovations in this
space.
As stated by the new market research report
on Deep
Brain Stimulation Devices, the U.S. represents
the largest market worldwide
supported by significant research activity in the area, high incidence and
prevalence of Parkinson’s disease and other targeted therapies, relatively
higher awareness of the conditions, sophisticated and well-established
healthcare infrastructure, and significant expertise and experience among
surgeons on DBS. Industry players have lately been seeking to establish
presence in developing markets, where there is more potential for future
growth. Emerging countries, such as the Asia-Pacific and Latin America, which
are witnessing growing awareness about the devices, are expected to result in
increased sales in these markets in the coming years.
Key players in
the market include Medtronic, Boston Scientific, Abbott Laboratories, Aleva
Neurotherapeutics SA, Beijing PINS Medical, and SceneRay.
The research
report titled “Deep Brain Stimulation
Devices: A Global Strategic Business Report” announced by Global
Industry Analysts Inc., provides a comprehensive
review of market trends, growth drivers,
competition, mergers and acquisitions, and other strategic industry activities
of major companies worldwide. The report provides market estimates and
projections in terms of Value (US$) for all major geographic markets, such as
the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and
Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin
America, and Rest of World.
For enquiries
e-mail us at rsd@strategyr.com or info411@strategyr.com
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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