The latest market report published by Credence Research, Inc. “Deep Brain Stimulation Devices Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global deep brain stimulation devices market was valued at US$ 699.6 Mn in 2017 and expected to reach US$ 1,889.4 Mn by 2026, expanding at a CAGR of 11.6% from 2018 to 2026.
Browse the full report Deep Brain Stimulation Devices Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://www.credenceresearch.com/report/deep-brain-stimulation-devices-market
Since the first application of deep brain stimulation (DBS) in the 1990s, the indications for the potential use of deep brain stimulation devices have been expanding. At present, over 1.5 million individuals have undergone DBS treatment for several approved and off label indications. Reversibility and titratability are the key features of deep brain stimulation devices augmenting their appeal in the field of clinical neurology. Despite their perceived advantages, the USFDA has been cautious in the approval and widespread adoption of deep brain stimulation treatments. Parkinson’s disease, epilepsy and tremors have been approved by the FDA with dystonia and obsessive compulsive disorders being granted exemption under humanitarian grounds. Conversely, the European commission is being more liberal in granting direct approval for these conditions. DBS has been applied for several conditions with proved benefits. However, due to scarcity of the number of procedures, robust evidence owing to difficulty in performing double blind randomized trials for such conditions is lacking.
As the global burden of neurological diseases is increasing, the healthcare infrastructure worldwide is augmenting its efforts towards introducing and incorporating new treatment methods and modalities that shall assist in mitigating the ever-growing toll of diseases. High morbidity has therefore created clinical urgency for long-term treatment options such as deep brain stimulation. Deep brain stimulation devices have proven evidence to have an important role in offering potential treatment to conditions such as epilepsy, tremors, and Parkinson’s disease, and are being further explored for their viability in other neurological areas.
Advancements in deep brain stimulation device technologies are shaping the growth of this market. Some of such advancements include customized programming, robot-assisted implantations, integrated pulse generators, and so on. Such progresses have allowed better treatment outcomes and safety profile to deep brain stimulation devices, particularly in treatment of movement disorders. At present, among the several approved applications of deep brain stimulation devices, Parkinson’s disease dominates the global market both in terms of revenue and volume. Parkinson’s disease is a common neurological disease with less treatment alternatives, and the available treatments are often administered for life. Long-term costs of Parkinson’s medications have led to increased adoption of deep brain stimulation devices, therefore gaining a greater market share. Additionally, the recently approved epilepsy application is expected to undergo the fastest growth during the forecast period. Lower therapeutic response to medication and lower outcomes from surgeries will urge chronic patients to adopt deep brain stimulation as a potential treatment.
The global deep brain stimulation devices market is highly competitive and consolidated. The market is characterized by the presence of limited number of players. The major companies operating in this market are engaged in developing next generation devices that shall deliver better treatment outcomes, with expanded application areas with legal sanction. The companies are also actively engaged expanding their geographical reach, and improving distribution channels with partnerships and distribution agreements.
Key Market Movements:
- Growing prevalence of neurodegenerative diseases such as Parkinson’s disease and other movement disorders
- Lack of availability of viable and more efficacious treatment options for such diseases
- Growing preference of neurostimulation devices for treatment of neurological conditions
- Intensive marketing strategies in North America and Europe
- Intensive research and development activities promoting the efficacy of DBS devices