The global deep brain stimulation devices market size, by Application (Parkinson's Disease, Essential Tremor, Dystonia, and Others), by End User (Hospital & Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
Key players in the market are focused on launching novel DBS therapies to expand their market share, which is expected to boost the market growth. For instance, in February 2019, Medtronic plc. launched its novel Deep Brain Stimulation (DBS) for medically-refractory epilepsy in the U.S.. The newly launched DBS therapy uses a surgically implanted medical device, similar to a cardiac pacemaker, to deliver electrical stimulation to precisely targeted areas of the brain as adjunctive treatment for several neurological disorders.
Increasing approval of new DBS systems is also expected to boost the market growth. For instance, in 2017, the U.S. Food and Drug Administration approved Vercise Deep Brain Stimulation (DBS) system, developed by Boston Scientific Corporation. The Vercise DBS system is indicated in the treatment of symptoms of PD. 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). Approval and launch of such advanced devices is expected to boost the global deep brain stimulation devices market growth over the forecast period.
Browse 26 Market Data Tables and 29 Figures spread through 150 Pages and in-depth TOC on Global Deep Brain Stimulation Devices Market, by Application (Parkinson's Disease, Essential Tremor, Dystonia, and Others), by End User (Hospital & Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027
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DBS devices are used in the treatment of diseases such as epilepsy and Parkinson’s disease. Therefore, high prevalence of these diseases is expected to drive demand for DBS devices, thereby propelling the global deep brain stimulation devices market growth over the forecast period.
For instance, according to the data published by the Parkinson's Foundation, around one million people are expected to suffer from Parkinson's disease (PD) in the U.S. by 2020, and around 60,000 people in the U.S are diagnosed with PD, annually.
According to the data published by Epilepsy Foundation, in 2015, around 3.4 million adults and children have active epilepsy in the U.S. The number increased from 2.3 million adults in 2010 to 3.4 million in 2015.
Key Takeaways of the Global Deep Brain Stimulation Devices Market:
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