Global Deep Brain Stimulation Device Market to Surpass US$ 2,508.5 Million by 2030 - Coherent Market Insights

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Aug 16, 2022, 14:30 ET

SEATTLE, Aug. 16, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global deep brain stimulation device market is estimated to be valued at US$ 1,188.9 million in 2022 and is expected to exhibit a CAGR of 9.8 % during the forecast period (2022-2030).

Key Trends and Analysis of the Global Deep Brain Stimulation Device Market:

Major players operating in market are focusing on adopting strategies such as product approvals, which is expected to drive the market growth over the forecast period. For instance, in January 2021, Boston Scientific Corporation received the U.S. Food and Drug Administration (FDA) approval of its fourth-generation Vercise Genus Deep Brain Stimulation (DBS) System. The portfolio, approved for conditional use in a magnetic resonance imaging (MRI) environment, it consists of a family of Bluetooth-enabled, rechargeable and non-rechargeable, implantable pulse generators (IPGs) that power Cartesia Directional Leads, designed to provide optimal symptom relief.

Moreover, On April 12, 2022, Boston Scientific Corporation, announced that it has received the U.S. Food and Drug Administration (FDA) approval for its latest image guided programming software, Vercise Neural Navigator with STIMVIEW XT. Developed in collaboration with Brainlab AG, a software-driven medical technology company, STIMVIEW XT enables clinicians, the ability to visualize both lead placement and stimulation modeling of the brain anatomy of their patients living with Parkinson's disease or essential tremor.

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Key Market Takeaways:

Market players are focused on growth strategies such as signing distribution agreements with governments of respective countries. This in turn is expected to drive growth of the global deep brain stimulation device market. For instance, on July 13, 2022, Abbott, a U.S. based multinational medical devices and health care company, received breakthrough device designation from the US Food and Drug Administration for the use of its deep brain stimulation system in treatment-resistant depression, The breakthrough device designation builds on a series of clinical trials of other DBS systems in treatment-resistant depression, which have yielded mixed results but provided enough evidence of efficacy to support further research in deep brain stimulation.

Among Application, Parkinson disease segment generated significant revenue in 2022, owing to increasing incidence of Parkinson disease worldwide. For instance, on June 13, 2022, according to the World Health Organization the prevalence of Parkinson Disease has doubled in the past 25 years globally. Global estimates in 2019 showed over 8.5 million individuals with Parkinson Disease. Current estimates suggest that, in 2019, Parkinson Disease resulted in 5.8 million disability-adjusted life years, an increase of 81% since 2000, and caused 329 000 deaths, an increase of over 100% since 2000.

Among region, North America is expected to hold a dominant position in the global deep brain stimulation device market over the forecast period, owing to increasing number of inorganic growth strategies by key market players in the region. For instance, in March, 2021, Abbott, a U.S. based multinational medical devices and health care company, announced the U.S. launch of NeuroSphere Virtual Clinic, technology that allows patients to communicate with physicians, ensure proper settings and functionality, and receive new treatment settings remotely as needed. Approved by the U.S. Food and Drug Administration, the NeuroSphere Virtual Clinic has the potential to increase access to optimal treatment for patients suffering from chronic pain or movement disorders who don't live close to a care provider, have difficulty accessing care, or are unable to go to the doctor because of circumstances like COVID-19. NeuroSphere Virtual Clinic solves considerable issues patients with movement disorders, such as Parkinson's disease or essential tremor.

Key players operating in the global deep brain stimulation device market include Boston Scientific Corporation, Medtronic, Inc., St. Jude Medical, Inc. (Abbott Laboratories), Cyberonics, Inc., Neuronetics, and Aleva Neurotherapeutics SA are the key players that are forming the competitive landscape.

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Detailed Segmentation:

Global Deep Brain Stimulation Device Market, By Application:

Parkinson's Disease
Essential Tremor
Dystonia
Others

Global Deep Brain Stimulation Device Market, By End User:

Hospital & Clinics
Ambulatory Surgical Centers
Others

Global Deep Brain Stimulation Device Market, By Region:

North America

By Country:

U.S.
Canada

Europe

By Country:

U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe

Asia Pacific

By Country:

China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific

Latin America

By Country:

Brazil
Mexico
Argentina
Rest of Latin America

Middle East & Africa

By Country:

GCC Countries
Israel
South Africa
Rest of Middle East & Africa

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Find related trending report below:

Deep Brain Stimulation Devices Market for Parkinson's Disease, By Product (Single Channel, Dual-Channel), By Region ( North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

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