Deep Brain Stimulation (DBS) Devices Market to Register Healthy Growth through 2025
Increasing patient pool
suffering from Parkinson’s disease and multiple sclerosis to drive global deep
brain stimulation (DBS) devices market
According
to TechSci Research report, “Global
Deep
Brain Stimulation (DBS) Devices Market By Product Type (Single-channel Deep
Brain Stimulator, Dual-channel Deep Brain Stimulator), By Type (Rechargeable,
Non-Rechargeable), By Application (Obsessive Compulsive Disorder, Parkinson’s
Disease, Essential Tremor, Epilepsy, Dystonia, Others), By End User (Hospitals,
Ambulatory Surgical Centers (ASCs), Neurological Clinic, Research Centers), By Region,
Forecast & Opportunities, 2025”, the market is expected to witness significant CAGR during
the forecast period owing to extensive usage of these devices in the treatment
of various neurological disorders such as essential tremor, Parkinson's
disease, dystonia, epilepsy and obsessive compulsive disorder. Rising
prevalence of lifestyle diseases including depression and chronic pain is also one
of the key factors behind the growth of deep brain stimulation (DBS) devices
market. Furthermore, increasing cases of neurological disorders and growing
investment on R&D activities in neurological sector are some other major
factors driving the growth of this market. Also, growing aging population
around the world and rising demand for minimal invasive surgery are expected to
propel the global deep brain stimulation (DBS) devices market through 2025.
Moreover, potential advantages of deep brain stimulation
devices like improved postoperative outcome control and its long-term
effectiveness are also augmenting the market growth. Adding to this, adoption
of technologically advanced products is also supporting the growth of global
deep brain stimulation (DBS) devices market. However, the market is also
experiencing some challenges. The side effects associated with the use of deep
brain stimulation devices such as allergic reaction and tingling or prickling
of the skin are expected to hamper the market growth. Moreover, availability of
alternative treatment options like drug therapies and surgeries might further
restrict the market growth during the forecast period. The outbreak of COVID-19
has also put challenge before suppliers and consumers of deep brain stimulation
(DBS) devices.
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The global
deep brain stimulation (DBS) devices market is segmented based on product type,
type, application, end user and region. Based on product type, the market is
segmented into single-channel deep brain stimulator and dual-channel deep brain
stimulator. Among them, the dual-channel deep brain stimulator accounted for
largest market share in 2019 and is further expected to hold its dominance
through 2025. The reasons can be attributed to their increasing use in surgical
procedures for treating Parkinson's disease.
Based
on application, the global deep brain stimulation (DBS) devices market is
segmented into obsessive compulsive disorder, Parkinson’s disease, essential
tremor, epilepsy, dystonia and others. Among them, the Obsessive-Compulsive
Disorder (OCD) segment is anticipated to witness highest CAGR during the
forecast period owing to increasing cases of OCD. DBS devices are more
effective than other therapeutics such as serotonin reuptake inhibitors.
Major players operating in the global deep
brain stimulation (DBS) devices market include Boston Scientific Corporation,
Abbott Laboratories (St. Jude Medical), Beijing PINS Medical Co. Ltd, Fisher
Wallace, NeuroSigma, Inc., Functional Neuromodulation Ltd, Medtronic PLC,
NeuroPace Inc., Renishaw PLC, ALEVA NEUROTHERAPEUTICS SA, LivaNova PLC, SceneRay
Corporation, Nevro Corporation and Neuronetics Inc. The market players are focusing
on launching innovative devices and investing on latest technologies to
strengthen their market position in global market.
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“North
America dominated the global
deep brain stimulation (DBS) devices market in 2019 owing to increase in FDA
approvals for these devices in clinical applications. However, Asia
Pacific is expected to undergo fastest CAGR through
2025 owing to growing awareness about various neurological disease treatment options. The region is also witnessing increasing prevalence of
neurodegenerative disorders, which require long term solutions,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Deep Brain Stimulation (DBS) Devices Market By
Product Type (Single-channel Deep Brain Stimulator, Dual-channel Deep Brain Stimulator),
By Type (Rechargeable, Non-Rechargeable), By Application (Obsessive Compulsive
Disorder, Parkinson’s Disease, Essential Tremor, Epilepsy, Dystonia, Others),
By End User (Hospitals, Ambulatory Surgical Centers (ASCs), Neurological
Clinic, Research Centers), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global deep
brain stimulation (DBS) devices market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in global
deep brain stimulation (DBS) devices market.
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