Deep Brain Stimulation Devices Market Size to Exceed US$ 1.2 Billion by 2028, TMR Study

Posted on 2024-03-25 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-25 — /EPR Network/ — Transparency Market Research Inc. –

The global deep brain stimulation (DBS) devices market for Parkinson’s disease was valued at US$ 0.85 billion in 2020, with an estimated compound annual growth rate (CAGR) of 5.1% from 2021 to 2028. Analysts predict that by the end of 2028, the market is expected to exceed US$ 1.2 billion.

In the current landscape, telehealth and eHealth applications are witnessing increased adoption, particularly during the ongoing COVID-19 pandemic, enabling regular monitoring of Parkinson’s disease (PD) patients. Favorable reimbursement policies across healthcare facilities worldwide are fueling the expansion of the DBS devices market for Parkinson’s disease.

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However, there’s a pressing need for technological advancements in the implantable pulse generators (IPGs) of DBS systems. To address this, companies operating in the global Parkinson’s disease market should focus on increasing research and development efforts to maximize battery longevity. Additionally, attention should be given to patient-centric elements such as enhancing the reliability of IPG recharging and ensuring consistency in nightly device shutoff.

DBS Surgical Therapy V/S Drug Therapy: Which is Better?

Analysts from Transparency Market Research (TMR) predict that the increasing preference for minimally invasive procedures will spur the demand for deep brain stimulation devices used in treating Parkinson’s disease. Deep brain stimulation surgery has gained significant traction, emerging as a preferred therapeutic approach particularly in advanced stages of Parkinson’s disease.

With drug therapy often linked to adverse effects, both physicians and patients are increasingly turning to deep brain stimulation surgery. Furthermore, the uncertainty surrounding the efficacy of drug therapy adds to the momentum favoring deep brain stimulation surgery as the treatment of choice among doctors and patients alike.

Major Players:

Libra, Activa, Vercise, Aleva Neurotherapeutics SA, Adaptive Neuromodulation GmbH (ANM), NeuroSigma, Inc., and NeuroPace, Inc.

Market Segmentation:

Product Type
- Single-Channel Deep Brain Stimulator
- Dual-Channel Deep Brain Stimulator

End-user
- Hospitals
- Ambulatory Surgical Centers
- Neurological Clinics
- Others

Market Drivers and Challenges:

Drivers:

Growing prevalence of neurological disorders.
Technological advancements in DBS devices.
Increasing investments in healthcare infrastructure.
Rising geriatric population globally.
Growing acceptance of DBS therapy among patients and physicians.

Challenges:

High cost associated with DBS procedures.
Limited awareness in developing regions.
Stringent regulatory requirements.
Potential side effects and complications.
Challenges related to reimbursement policies.

Increase in Government Initiatives: Key Driver

An increase in the number of neurological disorders such as ischemic stroke, Alzheimer’s disease, tremors, trauma, and Parkinson’s disease (PD) are primary factors responsible for the growth of the global deep brain stimulation devices market
Additionally, the surge in the geriatric population and rise in demand for minimally invasive surgical techniques boost the growth of the global market. Moreover, the change in preferences of patients and healthcare professionals to adopt surgical DBS devices over drug therapy is projected to fuel the growth of the global market for deep brain stimulation devices in the near future. This can be attributed to a considerable number of side effects and loss of effectiveness of drugs and other therapies.

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Market Trends:

Miniaturization of DBS devices for enhanced patient comfort.
Integration of advanced technologies like artificial intelligence for precise targeting.
Shift towards rechargeable DBS systems for improved convenience and cost-effectiveness.
Increasing focus on personalized medicine approaches in neurology.

Future Outlook:

The future of the DBS devices market looks promising, with continued technological innovations and expanding applications. As researchers delve deeper into understanding neurological disorders and refining DBS therapy, the market is expected to witness significant growth, offering new hope to millions of patients worldwide.

Key Market Study Points:

Market size and growth projections.
Regional analysis and market dynamics.
Competitive landscape and key players.
Technological advancements and innovations.
Regulatory landscape and challenges.
Emerging trends and future outlook.

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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