Deep Brain Stimulation Devices Market for Parkinson’s Disease is expected to surpass US$ 6,234.3 Mn by The End of 2028
Deep brain stimulation devices are used in the last stage of disease associated with increased complications. Deep brain stimulation therapy is a proven-effective advanced surgical option used to treat mild to severe Parkinson’s disease symptoms.
Market Statistics:
Global deep brain stimulation devices market for Parkinson’s disease is expected to surpass US$ 6,234.3 Mn in terms of value by the end of 2028.
Global Deep Brain Stimulation Devices Market for Parkinson’s Disease: Drivers
Approval and launch of new products is expected to propel growth of the global deep brain stimulation devices market for Parkinson’s disease over the forecast period. For instance, in June 2020, The U.S. Food and Drug Administration (FDA) approved Medtronic Plc’s Percept PC Neurostimulator designed to allow for a more individualized use of deep brain stimulation therapy in people with Parkinson’s disease and related disorders.
Global Deep Brain Stimulation Devices Market for Parkinson’s Disease: Opportunities
R&D in deep brain stimulation is expected to offer lucrative growth opportunities for players in the global deep brain stimulation devices market for Parkinson’s disease. For instance, according to a study published in July 2020, in Neurology, the medical journal of the American Academy of Neurology, deep brain stimulation may not increase the risk of developing dementia in people with Parkinson’s disease.
Global Deep Brain Stimulation Devices Market for Parkinson’s Disease: Recent Developments
The technological advancement for developing and improving deep brain stimulation devices can be attributed to the growth of deep brain stimulation devices market. For instance, in September 2021, the Mayo Clinic and the Google Research Brain Team, developed a new type of artificial intelligence (AI) algorithm for accurately determining the interaction between different regions of the brain. This will help in improving the way brain stimulation devices used for treating Parkinson’s disease.
In addition, the increasing product approvals is further boosting the market growth. For instance, in January 2020, Abbott received the U.S. Food and Drug Administration (FDA) approval for Infinity Deep Brain Stimulation (DBS) system for including targeted area of the brain called the internal globus pallidus (GPi). This area plays an integral role in motor function and can be targeted with Deep Brain Stimulation (DBS) for improving the symptoms of Parkinson's disease.
Similarly, in January 2021, Boston Scientific Corporation received U.S. FDA approval for Vercise Genus Deep Brain Stimulation (DBS) System. It is used for treating Parkinson's disease by delivering targeted electrical stimulation via surgically-implanted leads in the brain. Hence, such technological innovations will help in improving better treatment for Parkinson’s disease which in turn will drive the market growth over the forecast period.
Global Deep Brain Stimulation Devices Market for Parkinson’s Disease: Restraints
Risks involved in deep brain stimulation devices for Parkinson’s disease are expected to hinder growth of the global deep brain stimulation devices market for Parkinson’s disease. Deep brain stimulation for Parkinson’s disease involves some complications post-surgery such as cerebral hemorrhage, paralysis, stroke, speech impairment, and other complications.
To know the latest trends and insights prevalent in the Deep Brain Stimulation Devices Market for Parkinson’s Disease, click the link below:
Global Deep Brain Stimulation Devices Market for Parkinson’s Disease - Impact of Coronavirus (Covid-19) Pandemic
People suffering from Parkinson's disease are not at a higher risk of contracting COVID-19. However, people suffering from Parkinson's disease may witness hardships in treatment if contracted with the infection. Some studies have also reported evidence for direct/indirect effects of SARS-CoV-2 on motor/non-motor symptoms of Parkinson's disease. Although extremely rare, Parkinson's-like symptoms have occurred in a few people with COVID-19. Moreover, without the vaccine, people suffering from Parkinson's disease are at high risk of complications and death.
Key Takeaways:
- The global deep brain stimulation devices market for Parkinson’s disease was valued at US$ 3,324.5 Mn in 2020 and is forecast to reach a value of US$ 6,234.3 Mn by 2028 at a CAGR of 8.3% between 2021 and 2028.
- The dual channel segment was valued US$ 1,057.2 Mn in 2020 and is expected to witness a CAGR of 7.8% over the forecast period.
Market Trends
R&D in deep brain stimulation is expected to boost growth of the global deep brain stimulation devices market for Parkinson’s disease. For instance, the study, “Magnetoelectric Materials for Miniature, Wireless Neural Stimulation at Therapeutic Frequencies,” published in June 2020, in the journal Neuron, proposed a miniature, wireless, and magnetically powered neural stimulator for deep brain stimulation therapy for Parkinson’s disease.
Deep brain stimulation is beneficial for patients with late‐stage Parkinson’s disease. For instance, the study, “Should We Consider Deep Brain Stimulation Discontinuation in Late‐Stage Parkinson’s Disease?” published in May 2020, in the journal Movement Disorders, most people with late-stage Parkinson’s disease demonstrated benefit from continued treatment with subthalamic deep brain stimulation.
Global Deep Brain Stimulation Devices Market for Parkinson’s Disease: Competitive Landscape
Major players operating in the global deep brain stimulation devices market for Parkinson’s disease include, Boston Scientific Corporation, MEDTRONIC, Inc., St Jude Medical, Inc., Sapiens Neuro, and Aleva Neurotherapeutics SA.
Global Deep Brain Stimulation Devices Market for Parkinson’s Disease: Key Developments
November 2019: Medtronic, Plc announced that its Activa patient programmer technology for deep brain stimulation therapy is now available to U.S. patients with Parkinson’s disease and other movement disorders.
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