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Deep Brain Stimulation (DBS) Devices Market Size

Deep Brain Stimulation (DBS) Devices Market Size

Pune, July 11, 2024 (GLOBE NEWSWIRE) — Deep Brain Stimulation (DBS) Devices Market Size Analysis:

“According to SNS Insider Research, Deep Brain Stimulation (DBS) Devices Market Its size is estimated at 1.25 billion USD in 2023 and is expected to exceed 3.10 billion USD by 2032, with a compound annual growth rate (CAGR) of 11.12% in the 2024-2032 forecast period.”

High prevalence of various neurological diseases, such as: Epilepsy It is expected to increase the demand for deep brain stimulation devices, which is expected to provide a boost to growth trajectories over the forecast timeframe. Epilepsy, one of the most common neurological diseases in the world, affects approximately 50 million people worldwide, which is in line with the facts documented in the WHO key facts for February 2023. The same source stated that 1 in 200 people are diagnosed with Epilepsy, and the vast majority (80%) of them live in low and middle-income countries.

Moreover, leading market players are increasingly busy launching new and advanced DBS devices in multiple countries globally to facilitate the growth of the industry. For instance, in August 2022, Medtronic Private Limited (India), a subsidiary of Medtronic plc (Ireland), introduced the SenSight directional lead system for DBS therapy to manage movement disorders and Epilepsy. Medtronic plc also announced the launch of its DBS system Percept PC in South Korea to help control tremors and Parkinson’s disease patients. These are the first products billed to incorporate extracellular, closed-loop neural recording technology with DBS therapy applied to treat neurological patients.

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Major Player Analysis Listed in This Report:

  • Abbott Laboratories
  • Beijing Pinchi Medical Equipment Co., Ltd.
  • Boston Scientific Company
  • Fisher Wallace Laboratories
  • Functional Neuromodulation Ltd.
  • Medtronic
  • NeuroPace Inc.
  • Renishaw PLC
  • Aleva Neurotherapeutic SA
  • LivaNova PLC
  • Other players

Deep Brain Stimulation (DBS) Devices Market Report Scope:

Report Attributes Detail
Market Size in 2023 1.25 Billion US Dollars
Market Size to 2032 3.10 Billion US Dollars
CAGR Compound annual growth rate of 11.12% from 2024 to 2032
Foundation Year 2023
Forecast Period 2024-2032
Historical data 2020-2022
Significant Regional Coverage North America (USA, Canada, Mexico), Europe (Eastern Europe (Poland, Romania, Hungary, Turkey, Rest of Eastern Europe) Western Europe) Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe)), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East (UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East), Africa (Nigeria, South Africa, Rest of Africa), Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Key Factors Enabling Growth Rapidly Aging Population Responsible for Increasing Neurological Disorders, Creating Need for Deep Brain Stimulation Devices
•Demand for Deep Brain Stimulation Devices is Increasing Due to the Growing Popularity of Minimally Invasive Procedures.

Segmentation Dynamics

Parkinson’s disease is projected to reach a market share of 66.01% in the coming years. The increasing population of Parkinson’s disease patients worldwide has led to an increasing need for successful therapeutic solutions. Deep brain stimulation devices are an effective treatment for symptoms associated with Parkinson’s disease and can significantly improve the quality of life of many patients. According to a January 2023 article by NIH, Parkinson’s disease is the second most common neurodegenerative disorder in people aged 50 and above. Therefore, the increasing prevalence of Parkinson’s disease is expected to increase consumer demand for new treatment options through advanced DBS technologies, which in turn is expected to drive the growth of the deep brain stimulation device market.

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Additionally, an April study by the Canadian Federal Government documented that more than 90,000 people in the age group of 40 and above are living with Parkinson’s disease. Over the past few years, advances in DBS technology – including improved overall targeting and programming capabilities and reduced side effect profiles – have increased therapeutic efficacy, which is rapidly driving the deep brain stimulation devices market growth.

Major Segments and Sub-Segments Listed in the Deep Brain Stimulation (DBS) Devices Market are:

By Product

  • Single channel
  • Dual channel

By Application

  • Pain Management
  • Epilepsy
  • Essential tremor
  • Obsessive Compulsive Disorder (OCD)
  • Depression
  • Dystonia
  • Parkinson’s disease
  • Others

By End Use

  • Hospitals
  • Neurology Clinics
  • Outpatient Surgery Centers
  • Research centers

Regional Analysis

By geography, North America dominates a significant share of 52.3% of the global market. The high share is due to the market growth drivers such as the emergence of high prevalence of different neurological disorders, presence of market leading players, and a larger number of product line products. For example, according to the CDC statement in May 2022, currently, around 3 million adults in the United States suffer from Epilepsy. Moreover, in October 2022, the American Psychiatric Association stated that in the United States, anxiety disorder Obsessive Compulsive Disorder Compulsive OCD affects around 2-3% of people every year. Therefore, higher incidences of different neurological disorders in the North American region are expected to create a high demand for advanced deep brain stimulation devices, skyrocketing the market growth.

Recent developments

  • In March 2023, Michigan Technology In March 2023, researchers created the ‘Smart’ Deep Brain Stimulation System, focusing on a closed-loop deep brain stimulation device system that changes stimulation signals according to the symptoms of Parkinson’s patients.

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Table of Contents – Important Key Points

1. Introduction

2. Industry Flow Chart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restrictions

4.3 Opportunities

4.4 Challenges

5. Porter’s 5 Forces Model

6. Pest Analysis

7. Deep Brain Stimulation (DBS) Devices Market Segmentation by Product

8. Deep Brain Stimulation (DBS) Devices Market Segmentation by Application

9. Deep Brain Stimulation (DBS) Devices Market Segmentation by End Use

10. Regional Analysis

11. Company Profiles

12. Competition Environment

13. Use Case and Best Practices

14. Conclusion

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