Deep Brain Stimulation Devices Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027 Segmented By Product Type (Dual-channel Deep Brain Stimulator, Single-channel Deep Brain Stimulator), By Type (Rechargeable, Non-Rechargeable), By Application (Parkinson’s Disease, Epilepsy, Essential Tremor, Dystonia, Obsessive Compulsive Disorder) By End User (Hospitals, Ambulatory Su
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationDeep Brain Stimulation Devices Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027 Segmented By Product Type (Dual-channel Deep Brain Stimulator, Single-channel Deep Brain Stimulator), By Type (Rechargeable, Non-Rechargeable), By Application (Parkinson’s Disease, Epilepsy, Essential Tremor, Dystonia, Obsessive Compulsive Disorder) By End User (Hospitals, Ambulatory Su
Global deep brain stimulation (DBS) devices market stood at USD1215.12 million in 2021 and is expected to grow at an impressive rate of 7.23% during the forecast period. This can be attributed to the rising demand for minimally invasive operations, the adoption of technologically advanced products, and the increasing aging population, which is more prone to neurological disorders such as epilepsy, Parkinson's disease, Alzheimer's disease, and chronic pain. Investment in neurological R&D has increased by various governments across the globe. Side effects such as allergic response and tingling or prickling of the skin due to the implantation of a deep brain stimulation device into the body and an increase in device cost are the key barriers to the growth of the deep brain stimulation devices market. The availability of other therapeutic options such as medication therapy and surgery, on the other hand, limits the market for deep brain stimulation devices. According to the World Ageing 2020 research, the global population of people aged 65 and up will be around 727 million by 2020. By 2050, its population is expected to reach 1.5 billion people. Furthermore, between 2020 and 2050, the number of elderly people will grow in all regions. The proportion of the global population aged 65 and up is predicted to rise from 9.3% in 2020 to roughly 16.0% in 2050. The elderly population is predicted to expand, and this group is more prone to neurological issues, thus driving the market in the near future. DBS is being used to target multiple parts of the brain, and the treatment is being studied in diverse Parkinson's disease populations. Clinical results have improved as a result of several improvements in the new systems. Nonetheless, these new advancements in DBS technology are enticing a huge patient population as well as healthcare practitioners.
Sudden Outbreak & Spread of COVID-19 Affects Market Growth
Many economies throughout the world have been negatively impacted by the COVID-19 outbreak. As of March 25, 2022, the pandemic infected over 477 million people in over 100 nations. Patients avoided visiting the hospital or neurological clinics for consultations or surgeries because of the fear of the virus spreading. After the surgeries, frequent visits to the hospital are mandatory. Patients delayed surgeries and continued medicine during the course of time. Lockdown imposed by various governments across the globe, in response to prevent the spread of COVID-19, caused disruption in transportation and logistics.
Increasing Demand for Minimally Invasive Surgeries Supporting Market Growth
The growing demand for minimally invasive operations is one of the most important factors for the deep brain stimulator device industry. Deep brain stimulation is a minimally invasive targeted surgery that is mostly used to treat dystonia, Parkinson's disease, and essential tremor. When compared to standard surgical approaches, minimally invasive procedures provide various advantages, including a shorter recovery period, smaller incisions, and less scarring and pain. As a result of the numerous patient benefits, these procedures are in high demand. Furthermore, these techniques rely on extremely small incisions that are just large enough to accommodate thin tubes and cameras. As a result, the above advantages substantially impact the expanding demand for such surgical operations, pushing market expansion.
Technological Advancements to Drive Deep Brain Stimulation Devices Market
Deep brain stimulation technologies are expected to gain popularity as a result of technological improvements. Robot-assisted insertion, improved microelectrode designs, multi-target stimulation, rechargeable implantable pulse generators, and tailored directed programming are among the technological advancements. DBS devices, as a result of these developments, are demonstrating fewer side effects, increased efficacy, and symptomatic alleviation in Parkinson's patients when compared to previous techniques. The Infinity Deep Brain Stimulation (DBS) System from Abbott, for example, is a highly advanced new DBS that can aid patients with their symptoms. It is the world's first wireless iOS software DBS mobile platform, allowing for more efficient and tailored therapy administration with fewer side effects.
Rising Geriatric Population Supports Market Growth
One of the primary factors of deep brain stimulation systems market growth is the growing geriatric population. People of this age are more susceptible to chronic illnesses. Neurological diseases are among the most frequent illnesses that affect the elderly. Neuropathy, Parkinson's disease, Alzheimer's disease, dystonia, and other neurological disorders that affect older individuals are most frequent. According to the National Institutes of Health, adults aged 65 and up account for 8.5% of the global population or 617 million people. As a result of the growing geriatric population and the rising frequency of neurological illnesses, the deep brain stimulation systems market is expected to develop at a healthy rate during the forecast period.
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Market Segmentation
North America dominates the overall deep brain stimulation devices market, with the United States having the biggest market. The United States deep brain stimulation devices market stood at USD312.79 million in 2021
Company Profiles
Major companies in the market are Medtronic Plc, Abbott Laboratories, Inc. (St. Jude Medical), Boston Scientific Corporation, Beijing PINS Medical Co. Ltd, NeuroSigma, Inc., Functional Neuromodulation Ltd., Fisher Wallace, NeuroPace Inc., Renishaw PLC., Aleva Neurotherapeutics SA, LivaNova PLC., SceneRay Corporation, Nevro Corporation, Neuronetics Inc., among others. Major players operating in the market are following strategies such as mergers and acquisitions, new therapy, among others, in order to stay competitive and have an edge over other players in the market.
| Attribute | Details |
| Market Size Value in 2021 | USD1215.12 Million |
| Revenue Forecast in 2027 | USD1826.47Million |
| United States Market Size Value in 2021 | USD312.79 Million |
| Growth Rate | 7.23% |
| Base Year | 2021 |
| Historical Years | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million and CAGR for 2017-2021 and 2022-2027 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Product Type · Type · Application · End User |
| Regional Scope | North America; Asia Pacific; Europe, South America; Middle East & Africa |
| Country Scope | United States; Mexico; Canada; Germany; United Kingdom; France; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE; Kuwait. |
| Key Companies Profiled | Medtronic Plc, Abbott Laboratories, Inc. (St. Jude Medical), Boston Scientific Corporation, Beijing PINS Medical Co. Ltd, NeuroSigma, Inc., Functional Neuromodulation Ltd., Fisher Wallace, NeuroPace Inc., Renishaw PLC., Aleva Neurotherapeutics SA, LivaNova PLC., SceneRay Corporation, Nevro Corporation, Neuronetics Inc. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope
In this report, global deep brain stimulation devices market has been segmented into following categories, in addition to the industry trends which have also been detailed below
Deep Brain Stimulation Devices Market
- Dual-channel Deep Brain Stimulator
- Single-channel Deep Brain Stimulator
Deep Brain Stimulation Devices Market
- Rechargeable
- Non- Rechargeable
Deep Brain Stimulation Devices Market
- Parkinson’s Disease
- Epilepsy
- Essential Tremor
- Dystonia
- Obsessive Compulsive Disorder
- Deep Brain Stimulation Devices Market, By End User
- Hospitals
- Ambulatory Surgical Centers (ASCs)
- Neurological Clinics
- Others
- Deep Brain Stimulation Devices Market, By Region
Competitive Landscape
Company Profiles
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Company Information
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