Deep Brain Stimulation (DBS) Devices Market Size, Share & Industry Analysis, By Product Type (Dual Channel Deep Brain stimulators, Single Channel Deep Brain Stimulators), By Application (Parkinsons Disease, Dystonia, Essential Tremor, Others), By End User (Hospitals, Specialty Clinics, Others) and Regional Forecast, 2019-2032

The global deep brain stimulation devices market size was valued at USD 696.4 million in 2018 and is projected to reach USD 2,974.1 million by 2026, exhibiting a CAGR of 10.8% during the forecast period.  

Deep brain stimulation is a surgical procedure to implant a device that send electrical signals to brain areas responsible for body movements. A DBS system has three parts that are implanted inside the human body, which includes a neurostimulator, an extension and a lead that connects the pacemaker device to the brain to coordinate electrical pulses. DBS devices help in reducing the symptoms of stiffness, tremor caused by several neurological diseases such as Parkinson's disease, dystonia, or essential tremor. A deep brain stimulation surgeries allow people to lower their medications, thus eliminating side effects potentially.

The deep brain stimulation systems market is estimated to witness lucrative growth during the forecast period, owing to the growing prevalence of neurological disorders. The increasing incidence of Parkinson’s diseases across several regions of the world is one of the major factors stimulating market growth. For instance, as per the Parkinson's Foundation, more than 10 million people worldwide are living with Parkinson’s disease. Also, rising prevalence of essential tremor and dystonia will further boost demand for DBS devices. Hence, the aforementioned factor will significantly support deep brain stimulation devices market growth across the forecast timeframe.

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Moreover, people above the age of 65 years are prone to neurological disorders. Hence, the increasing rate of geriatric population will strongly stimulate the prevalence of neurological disorders, thus augmenting market size. Also the growing awareness among the population pertaining to various neurological ailments is another considerable factor supporting the adoption of DBS surgeries and thereby augmenting market growth.

MARKET DRIVERS

“Rising Demand for Minimally Invasive Surgical Procedures Will Strongly Support Market Growth”

One of the most crucial drivers for deep brain stimulators market growth is the increasing demand among the population for minimally invasive surgeries. DBS is a minimally invasive targeted surgery predominantly used to treat movement disorders in dystonia, Parkinson’s disease, and essential tremor. Minimally invasive procedures offer several benefits compared to traditional surgical techniques, such as faster recovery time span, smaller incisions, reduced scarring and pain. Hence, owing to various patient benefits, these surgeries are in high demand. Moreover, in several cases, less invasive surgery also suggests a higher accuracy rate compared to traditional operative methods. Also, these procedures rely on tiny incisions only large enough for the insertion of thin tubes and cameras. Hence, the aforementioned benefits have a significant impact on the growing demand for such surgical procedures, thus propelling market growth.

 “Growing Rate of Geriatric population at an Unprecedented Rate will Augment Market Growth”

The Increasing rate of geriatric population is one of the major drivers augmenting deep brain stimulation systems market growth. People at such an age are more prone to chronic ailments. Neurological diseases are some of the most common ailments that can be seen in older people. A few of the most common neurological disorders that affect older people include neuropathy, Parkinson’s disease, Alzheimer’s disease, Dystonia, and others. As per the National Institutes of Health (NIH), 8.5 percent of people worldwide that is around 617 million people are aged 65 and over. Hence, the growing geriatric population coupled with rising prevalence of neurological disorders, will support the DBS systems market to witness a positive growth trajectory across 2018-2026.

SEGMENTATION

By Product Type Outlook

“Dual Channel Deep Brain Stimulators Segment to Grow Rapidly Owing to Increasing Technological Advancements”

On the basis of product type, the market can be segmented into dual channel deep brain stimulators and single-channel deep brain stimulators. The dual-channel deep brain stimulator segment is estimated to hold dominant shares in the market. High growth is due to increasing technological advancements in the deep brain stimulators. Dual-channel stimulators have more advance technology compared to the single channel stimulators. To simplify the procedure for bilateral stimulation and to enhance the patient’s comfort level, one sided dual channel stimulators were developed that offers stimulation of electrical pulses through two DBS leads. Hence, growing advancements pertaining to DBS stimulators will significantly augment market growth across the forecast period.

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The single-channel deep brain stimulation devices are expected to witness stable growth during the forecast period. The technology included in the single-channel deep brain stimulators are comparatively less advance than the dual-channel technology. Hence, the market size for single-channel deep brain stimulators is expected to be minimum. However, the increasing prevalence of chronic neurological ailments across the globe is one of the factors augmenting its market growth. Also, the adoption of single channel DBS systems can be seen in the developing economies of the world pertaining to its affordable price compared to the dual channel devices. Hence, the aforementioned factors will subsequently boost segmental expansion during the forecast period.

By Application Outlook

“Parkinson's Disease Segment to Lead: Increasing Patient Pool Will Favor Growth”

On the basis of application, the global market can be segmented into Parkinson's Disease, dystonia, essential tremor, and others. Parkinson's disease segment is anticipated to hold major segment shares, pertaining to the growing prevalence of the disorder. Moreover, the increasing rate of geriatric population suffering from neurological conditions has further augmented segmental growth. The surge in number of patients suffering from Parkinson’s disease will significantly augment market size during the forecast period. Additionally, growing healthcare expenditure in various regions of the world will further boost deep brain stimulation for Parkinson’s disease across the forecast period.

Furthermore, there are few other segments that are expected to witness steady growth across the forecast period, such as, dystonia, essential tremor and others. Deep brain stimulation for dystonia is estimated to witness substantial growth owing to its increasing prevalence rate across various regions of the world. Moreover, increasing awareness among the population of developing economies pertaining to various rare neurological ailments will significantly foster market size. Hence, the aforementioned factors will considerably augment segment size across 2018-2026.    

By End User Outlook

“Presence of State-of-the-Art Facilities in the Hospital Settings Will Spur Revenue Generation”

On the basis of end user, the market is classified into hospitals, specialty clinics, and others. The hospitals segment is anticipated to hold dominant shares, owing to the presence of state-of-the-art facilities across the hospital settings. Moreover, deep brain stimulation surgeries require extreme precision and efficient medical attention when needed. Hence, the availability of the afore mentioned factors augment hospitals segment growth in the deep brain stimulation devices market.

Specialty clinics segment is estimated to witness stable growth during the forecast period. Steady growth is attributable to the increasing trend of specialty clinics across several economies of the world. The growing penetration rate of specialty clinics, in the developing economies is one of the major growth fostering factor. Also, increasing prevalence of chronic neurological ailments is another important factor contributing to the stable growth of the segment.

REGIONAL ANALYSIS

The industry report on deep brain stimulation devices covers different regions that include North America, Europe, Asia Pacific, and the Middle East and Africa. Of these, the market in North America is anticipated to emerge dominant during the forecast period. This is attributable to the increasing developments in the healthcare sector as a result of growing research and development activities in this industry. Moreover, major players operating in the industry has an established presence in the U.S., which will further propel market expansion. For instance, major companies such as Medtronic, Abbott, Boston scientific and few others held maximum shares in the deep brain stimulation devices market share in the U.S., thus augmenting regional growth across 2018-2026. Also, increasing patient pool suffering from neurological disorders will further stimulate North America’s market expansion.

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Asia Pacific is expected to witness the highest growth in the market value attributed to the growing demand in countries such as Japan, China and India. Owing to the increasing disposable incomes across the region leading to higher healthcare expenditure. Additionally, growing awareness among the population pertaining to various neurological conditions such as epilepsy, essential tremors and Parkinson’s disorder will further stimulate Asia Pacific DBS market size. Also, increasing number of medical settings such as specialty clinics and multispecialty hospitals is also a major growth stimulating factor. Furthermore, growing percentage of neurologists and medical professionals working in the Asian market is a chief reason fostering market growth.

On the other hand, Europe is projected to witness significant growth in the market because of the presence of several countries with a prevalence of chronic neurological disorders. The high growth countries, such as UK, Germany and France, will contribute to the growth of the European market. In Latin America, the market for deep brain stimulation devices is anticipated to undergo a restricted growth as compared to the other regions. However, the increasing awareness in key regions such as Brazil will drive the market in the future. The Middle East and Africa are expected to witness steady growth in the future on account of the rising prevalence and awareness of neurological disorders.

INDUSTRY KEY PLAYERS

“Medtronic to Hold Considerable Market share Owing to Increasing R&D Activities Pertaining to Neuromodulation”

The global market is dominated by few of the key companies owing to their strong product portfolio, key strategic decisions, and dominance of market share. These include a group of 3 key companies with wider geographic presence and persistent R&D, resulting in a strong product portfolio. The market is highly consolidated in nature, with three major players operating in the market. Moreover, inorganic growth strategies such as mergers and acquisitions will further stimulate the deep brain stimulation devices market revenue.

List Of Key Companies Covered:

• Abbott (ST. JUDE MEDICAL)


• Medtronic


• Boston Scientific Corporation


• Beijing PINS Medical Co., Ltd.


• Others

REPORT COVERAGE

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The deep brain stimulation devices market analysis presents a comprehensive assessment of the global market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per the market segments, helping our readers to get a comprehensive overview of DBS systems market.

Along with this, the report provides an extensive analysis of the global market dynamics and competitive landscape and scenario. Various key insights presented in the report are the prevalence of Parkinson’s disease by key countries, 2018, company market share analysis, key industry developments, and new product launch. Along with these, the other key insights include key strategies adopted by the market leaders, competitive landscape, and company profiles.

Report Scope & Segmentation

INDUSTRY DEVELOPMENTS:

• February 2019: Medtronic announced the launch of Deep Brain Stimulation (DBS) for medically-refractory epilepsy in the U.S. Such novel product launch will assist the company to broaden its customer base as well as generate more revenue.


• January 2019: Boston Scientific Corporation has launched the Vercise Gevia and Vercise Primary Cell (PC) Deep Brain Stimulation (DBS) Systems featuring the Vercise Cartesia Directional Lead. This new feature technology is designed to allow specialists and physicians to control the shape, range, direction and position of electrical lead stimulation for the treatment of neurological diseases through highly-personalized therapy.


• January 2017: Abbott announced the acquisition of St. Jude Medical, Inc.; one of the leading medical device company. Such acquisition enabled the company to expand its medical device portfolio in the market.