Vancouver, British Columbia, April 06, 2021 (GLOBE NEWSWIRE) — The global deep brain stimulation systems market size is expected to reach USD 2,122.8 Million in 2027 at a CAGR of 8.1% during the forecast period, according to latest analysis by Emergen Research. Increasing incidence of Parkinson’s disease, dystonia, epilepsy, and other involuntary movement disorders among the geriatric population are key factors expected to drive market revenue growth over the forecast period. According to some reports, over 60,000 individuals are diagnosed with Parkinson’s disease annually in the United States and around 10 million individuals are living with the disease across the globe. Increasing prevalence of such neurological conditions among the aging and elderly population and rapid increase in geriatric population across the globe are key factors boosting demand for deep brain stimulation systems globally. Furthermore, increasing incidence of depression, Obsessive Compulsive Disorder (OCD), and essential tremors are expected to further fuel demand for deep brain stimulation systems over the forecast period.
Neurological symptoms such as tremors, movement control, and rigidity that are a characteristic of Parkinson’s disease and dystonia are generally treated through minimally invasive surgical procedures. The systems integrated in the deep brain ensures there is minimal to no damage to surrounding brain tissues. In addition, technologically advanced systems can be recharged wirelessly without needing further surgeries and this is expected to further boost demand for deep brain stimulation systems globally. However, some side effects associated with critical surgeries and drugs, high treatment costs, and high costs associated with deep brain stimulation systems can potentially hamper market growth to a certain extent over the forecast period.
Some Key Highlights From the Report:
- Dual-channel deep brain stimulation systems product segment is expected to account for a significant revenue share in the global market over the forecast period, which can be attributable to increasing incorporation of advanced features such as wireless recharging and pain-free management in dual-channel systems to treat essential tremors associated with Parkinson’s disease.
- Parkinson’s disease segment is expected to account largest revenue share in the global market over the forecast period owing to increasing occurrence of involuntary movements among a rapidly increasing geriatric population in countries across the globe.
- Increasing pool of geriatric patients suffering from Parkinson’s disease, epilepsy, dystonia, and depression in countries such as India and China is expected to contribute to significantly to revenue growth of the market in Asia Pacific. Increasing awareness about deep brain stimulation systems and availability of proper treatments and technologically advanced facilities are factors expected to further fuel revenue growth of the market in the region.
- North America accounted for largest revenue share in the global market in 2020 and is expected to register significant revenue growth over the forecast period. Steady growth can be attributed to increasing incidence of depression disorders, favorable reimbursement scenarios, rapid technological advancements in deep brain stimulation systems, and increasing product approvals from the U.S. FDA.
- Some major companies operating in the market include Abbott Laboratories, Medtronic, Aleva Neurotherapeutics, NeuroPace, Cyberonics, Boston Scientific Corporation, and Fisher Wallace among others.
- In January 2020, Abbott Laboratories received expanded indication from the U.S. FDA for directional deep brain stimulation systems for the treatment of Parkinson’s disease. The product is designed to also treat essential tremors along with Parkinson’s disease.
For the purpose of this report, Emergen Research has segmented the global deep brain stimulation systems market on the basis of product, application, end use, and region:
Product Outlook (Revenue, USD Million; 2017–2027)
- Dual Channel
- Single Channel
Application Outlook (Revenue, USD Million; 2017–2027)
- Fluid Replacement
- Parkinson’s disease
- Pain Management
- Obsessive-Compulsive Disorder (OCD)
- Essential Tremor
End Use Outlook (Revenue, USD Million; 2017–2027)
- Ambulatory Care Centre
- Neurology Centers
Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends: https://www.emergenresearch.com/industry-report/deep-brain-stimulation-system-market
Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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