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.

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