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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The economic impact of mental illness is long lasting. As per Coherent Market Insights, there are over 7 million people suffering from Parkinson’s disease as of 2015, with around 1.7 million and 60,000 cases diagnosed each year in China and the U.S., respectively. Over half of the deep brain stimulation market share is currently captured by the U.S. Industry players are expected to establish their footprint in emerging markets by creating awareness among patients and healthcare providers. This would help them expand their business presence and generate high return on investment (ROI). Some of the ongoing clinical research suggests deep brain stimulators to be highly effective in treatment approach towards Alzheimer patients. Positive FDA nod for Alzheimer treatment could further commercialize the deep brain stimulation market size. Many more players are expected to enter the market in near future.
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