Global Deep Brain Stimulation Devices Market is expected to foresee significant growth. North America to lead the growth!

Deep brain stimulation (DBS) is an elective surgical procedure in which electrodes are implanted into certain brain areas. These electrodes, or leads, generate electrical impulses that control abnormal brain activity. These electrical impulses can also be used for adjusting the chemical imbalances within the brain that cause various conditions while the stimulation of brain areas is controlled by a programmable generator that is placed under the skin in the upper chest. The rising prevalence of lifestyle diseases such as depression and pain, along with the increasing cases of neurological disorders are the important driving factors for the deep brain stimulation devices market. For instance, according to the WHO, with an estimated 3.8% of the global population is affected by depression, including 5.0% among adults and 5.7% among adults older than 60 years.

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The increasing demand for technological advancements in neurological imaging techniques is expected to drive the deep brain stimulation devices market at a CAGR of 12%, during the forecast period. Factors such as the growing adoption of advanced devices along with the rising geriatric population also catalyze the growth of the deep brain stimulation devices market.

Based on the application, the market has been categorized into pain management, epilepsy, essential tremor, obsessive-compulsive disorder (OCD), Parkinson’s disease, depression, dystonia, and others. Among them, the Parkinson’s disease segment holds a considerable share of the market. The surging prevalence of Parkinson’s disease, along with the increasing number of treatment options for the disease are the important factors fueling segmental growth. For instance, as per the Parkinson’s Foundation, nearly 90,000 people in the U.S. are diagnosed with Parkinson’s disease each year and more than 10 million people worldwide are living with it.

Based on the end-use, the market has been categorized into hospitals, neurology clinics, ambulatory surgical centers, and research centers. Among them, the hospital segment holds a significant share of the market. The increasing number of deep brain stimulation surgeries performed in hospitals attributes to the growth of the segment. Furthermore, the hospitals are specialized in the treatment of multiple disorders, as well as provide diagnostic, pharmaceutical, and critical care facilities under a single roof which is also a driving factor for the significant market share of the segment.

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For a better understanding of the market adoption of the deep brain stimulation devices industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. In 2020, North America is anticipated to hold a considerable market share. The major factors such as the presence of major economies such as the United States in the region are attributed to the presence of market players and frequent product launches in the region. For instance, in January 2021, Boston Scientific received FDA approval for its fourth generation Vercise Genus Deep Brain Stimulation (DBS) System used to treat symptoms in patients with advanced Parkinson’s disease.

Some of the major players operating in the market include Abbott; Boston Scientific Corporation; Medtronic; Aleva Neurotherapeutics; Nexstim Oyj; LivaNova PLC; NeuroPace, Inc.; Functional Neuromodulation Ltd.; SceneRay Co., Ltd.; and Neuronetics.

Global Deep Brain Stimulation Devices Market Segmentation

Market Insight, by Application

· Pain management

· Epilepsy

· Essential tremor

· Obsessive-compulsive disorder (OCD)

· Parkinson’s disease

· Depression

· Dystonia

· Others

Market Insight, by End-Use

· Hospitals

· Neurology clinics

· Ambulatory surgical centers

· Research centers

Market Insight, by Region

· North America

o US

o Canada

o Rest of North America

· Europe

o Germany

o United Kingdom

o France

o Italy

o Spain

o Rest of Europe

· Asia-Pacific

o China

o Japan

o India

o Rest of Asia-Pacific

· Rest of the World

Top Company Profiles

· Abbott

· Boston Scientific Corporation

· Medtronic

· Aleva Neurotherapeutics

· Nexstim Oyj

· LivaNova PLC

· NeuroPace, Inc.

· Functional Neuromodulation Ltd.

· SceneRay Co., Ltd.

· Neuronetics