Deep Brain Stimulation Devices Market- Insights
Deep brain stimulation (DBS) device, often described as brain pacemaker, aids in alleviating symptoms of Parkinson’s disease (PD). The device is implanted at one of the three U.S. Food and Drug Administration (FDA) approved brain sites to block the electrical signals from these sites to the brain. The three U.S. FDA approved targeted brain sites are ventrointermedialis (VIM) nucleus of the thalamus, subthalamic nucleus (STN), and globus pallidus pars interna (GPi). DBS surgery is performed on patients suffering from PD for at least four years and are on medications albeit with motor complications.
DBS is the most preferred option although there are other surgical options such as Thalamotomy and Pallidotomy, as it does not involve tissue destruction and is a reversible surgical treatment.
Frequent approval and Launch of novel devices is expected to fuel the global deep brain stimulation devices market growth
Key players in the market are focused on approval and launch of novel DBS devices to expand their product portfolio, which is expected to boost the market growth. For instance, in January 2019, Boston Scientific Corporation launched two new DBS devices namely the Vercise Primary Cell (PC) and Vercise Gevia Deep Brain Stimulation (DBS) systems.
In June 2015, the U.S. Food and Drug Administration (FDA) approved St. Jude Medical’s Brio Neurostimulation System, a DBS device that helps to reduce symptoms of Parkinson’s disease (PD) and essential tremor. Launch and approval of such novel devices is expected to significantly support the global deep brain stimulation devices market growth over the forecast period.
Furthermore, key players in the market are focused on launching upgraded versions of their already approved DBS devices in the market. For instance, in August 2018, Abbott Laboratories received the U.S. Food and Drug Administration (FDA) approval for an over-the-air software upgrade for all currently implanted Infinity DBS systems that deliver magnetic resonance (MR)-conditional labeling. Approval and launch of such upgraded DBS devices is expected to create conducive environment for the market growth over the forecast period.
The global deep brain stimulation devices market size was valued at US$ 831.6 Mn in 2018, and is expected to exhibit a CAGR of 9.7% over the forecast period (2020 – 2027).
Figure 1. Global Deep Brain Stimulation Devices Market Value (US$ Mn) Analysis and Forecast, and Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2019)
High prevalence of diseases such as Parkinson’s disease and epilepsy is expected to fuel the global deep brain stimulation devices market growth
Increasing prevalence of PD is expected to boost demand for DBS devices. For instance, according to the Parkinson’s Disease Foundation, as of 2016, over 10 million people are suffering from Parkinson’s disease, worldwide. The findings published by the organization demonstrated that incidence rate of PD increases with age and only 4% of people were diagnosed with PD before the age of 50 years. According to the same source, in 2017, the incidence rate of PD in the U.S is as high as 60,000, annually.
Moreover, according to Parkinson’s Australia Inc. around 11,544 new cases of PD were diagnosed in Australia in 2014. According to the statistics released by Parkinson Canada, the number of people suffering from PD in Canada is expected to reach over 163,700 by 2031 (double than the prevalence in 2011).
Increasing prevalence of epilepsy is also expected to boost demand for DBS devices. For instance, according to the data published by the Centers for Disease Control and Prevention, in 2015, around 1.2% of the U.S. population suffered from active epilepsy, which was around 3.4 million people and included 3 million adults and 470,000 children.
Therefore, high prevalence of PD and epilepsy worldwide is expected to drive the global deep brain stimulation devices market growth over the forecast period.
Figure 2. Global Deep Brain Stimulation Devices Market Value (US$ Mn) – Scenario Forecast, 2019 & 2027
Source: Coherent Market Insights Analysis (2019)
Key players operating in the global deep brain stimulation devices market include, Boston Scientific Corporation, Medtronic, Inc., St. Jude Medical, Inc. (Abbott Laboratories), Cyberonics, Inc., Neuronetics, and Aleva Neurotherapeutics SA.
Deep brain stimulation (DBS) surgery is performed as part of the treatment of various neural debilitating conditions such as Parkinson’s disease (PD), dementia, and Alzheimer’s disease. A patient fitted with a DBS device can get long-term relief from debilitating symptoms of PD. Although some patients may require medications post-surgery, there is significant reduction in side-effects caused due to medications, owing to use of DBS devices. A DBS device is mainly placed in one of the three U.S. Food and Drug Administration (FDA) approved target sites in PD. Most commonly preferred target sites are the Globus Pallidus Interna (GPi) and Subthalamic Nucleus (STN).
Approval and launch of novel and advanced DBS devices is expected to drive the global deep brain stimulation devices market growth over the forecast period. For instance, in 2017, Boston Scientific Corporation received the U.S. Food and Drug Administration for its Vercise Deep Brain Stimulation (DBS) system. Vercise DBS system is indicated for use in Parkinson’s disease treatment. DBS works by stimulating a targeted region of the brain through implanted leads that are powered by a device called an implantable pulse generator (IPG).
DBS devices are widely used in the treatment and management of diseases such as epilepsy and PD. Therefore, high prevalence of these diseases worldwide is expected to drastically increase demand for its management devices, thereby driving the global deep brain stimulation devices market growth over the forecast period. For instance, according to the data published by World Health Organization (WHO) in June 2019, epilepsy is a chronic non-communicable disease of the brain that affects people of all ages. Globally, around 50 million people suffer from epilepsy, making it one of the most common neurological diseases.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.