The Global Deep Brain Stimulation Market was valued at US$ 720.9 Million in 2016, according to a new report by published by Coherent Market Insights. Increasing Parkinson’s disease prevalence rate along with product innovation is expected to boost overall demand for deep brain stimulation systems across the globe in the near future.
Deep brain stimulation market has gained traction owing to technological advancements and high prevalence rate of Parkinson’s disease and dystonia disease. Most of the device sales are concentrated in developed regions namely North America and Europe. Emergence of deep brain stimulation market has revolutionized the overall treatment approach to mental health care. These devices are can improve motor functions by 70% in Parkinson’s patients.
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Increasing prevalence of mental illness is taking a significant toll on the economy. As per Coherent Market Insights, over 7 million people suffering from Parkinson’s disease were recorded in 2015, with around 1.7 million and 60,000 cases diagnosed each year in China and the U.S., respectively. The U.S. contributes to over half the deep brain stimulation market share, making U.S. an attractive market for players to establish their footprint. This in turn, is expected to help the market players expand their business presence and generate high return on investment (ROI) in emerging economies. Some of the ongoing clinical research suggests deep brain stimulators is highly effective in treatment approach towards Alzheimer patients. Positive FDA nod for Alzheimer treatment could further commercialize the deep brain stimulation.
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