The global deep brain stimulation devices market size is expected to reach USD 2.48 Billion in 2028 and register a CAGR of 10.2% over the forecast period

NEW YORK CITY, NY, UNITED STATES, September 8, 2022 /EINPresswire.com/ -- The global deep brain stimulation devices market size is expected to reach USD 2.48 Billion in 2028 and register a CAGR of 10.2% over the forecast period, according to the latest report by Reports and Data. Rising incidence rate of neurological disorders, rapidly aging population, and increasing advancements in imaging technologies are some key factors expected to drive market revenue growth over the forecast period.

Recent advancements in neuroimaging has significantly improved Deep Brain Stimulation (DBS) target visualization and facilitated more effective lead localization. Increasing utilization of Magnetic resonance imaging (MRI) and Computed tomography (CT) with DBS is enabling healthcare professionals to create a 3-D image of brain to locate the targeted area to place the electrode and reduce the possibility of any post-operative complications. These novel imaging technologies has allowed major improvements in surgical targeting and post-operative deep brain stimulation programming along with enabling a better understanding of DBS mechanism. Hence, advancements in imaging technology is increasingly allowing healthcare professionals to perform deep brain stimulation more accurately as well as to also avoid the risk of microelectrode recording.

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The field of deep brain stimulation is rapidly evolving with advancements in patient selection, pulse generator technology, electrode, and target identification coupled with the development of more efficient and improved stimulation paradigms such as closed-loop stimulation. Increasing product development and approval of deep brain stimulation devices is expected to boost market growth. Currently, the U.S. Food & Drug Administration (FDA) has approved deep brain stimulation devices of three manufacturers; namely Medtronic PLC, Abbott Laboratories, and Boston Scientific Corporation to treat neurological disorders.

Increasing number of clinical trials to investigate the efficacy of closed-loop or adaptive deep brain stimulation devices is expected to boost growth of the market. A closed-loop deep brain stimulation devices employs a control algorithm to optimize the electrical stimulation parameter according to the brain clinical state. The adaptive deep brain stimulation system potentially can adjust brain stimulation automatically according to patients clinical state and significantly improve clinical outcome. This is expected to boost revenue growth of the market in the near future. However, high cost of deep brain stimulation procedure is expected to limit adoption of DBS devices and restrain market growth to a certain extent over the forecast period.

Some Key Highlights From the Report:

In January 2021, Medtronic PLC announced the launch of Adaptive Deep Brain Stimulation Trial (aDBS) in Parkinson’s Disease patients. The randomized study will take place at 12 leading research institutes in the United States, Canada, and Europe. Through this trail, the efficacy and safety of aDBS will be tested in Parkinson’s Disease patients.
Single-channel deep brain stimulation segment revenue is expected expand at a robust CAGR during the forecast period, attributable to increasing preference for single channel neurostimulators for its low-cost, ease of use, simplicity, low power consumption, and miniaturized dimensions.
Parkinson’s Disease segment is expected to lead in terms of revenue share over the forecast period owing to increasing number of individuals with PD globally, rising awareness about various treatment procedures available – including DBS – and availability of advanced DBS devices for PD treatment.
Ambulatory Surgical Centers (ASCs) segment revenue is expected to expand at a rapid CAGR over the forecast period due to increasing number of ambulatory care visits to treat neurological disorders and high preference among patients to visit these facilities owing to cost-effective services, convenient and easy access to services, availability of advanced equipment, and low risk of acquiring surgical site infections.
North America is expected to account for largest revenue share over the forecast period, attributable to robust presence of major players such as Abbott Laboratories, Boston Scientific Corporation, and Neuronetics Inc., among others, which are focusing on developing more advanced DBS systems and increasing number of product approvals by U.S. Food & Drug Administration (FDA).

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Deep Brain Stimulation Devices market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Boston Scientific Corporation, Abbott Laboratories, Medtronic PLC, Neuronetics Inc., Beijing PINS Medical Co., Ltd., NeuroPace Inc., Functional Neuromodulation Ltd., Nevro Corporation, LinaNova PLC, and NeuroOne Medical Technologies Corp.

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Deep Brain Stimulation Devices Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

Single-Channel Deep Brain Stimulator
Dual-Channel Deep Brain Stimulator

Application Outlook (Revenue, USD Billion; 2018-2028)

Parkinson’s Disease (PD)
Epilepsy
Essential Tumor
Obsessive Compulsory Disorder (OCD)
Dystonia
Others

End-Use Outlook (Revenue, USD Billion; 2018-2028)

Hospitals
Ambulatory Surgical Centers (ASCs)
Neurological Clinics
Academic and Research Institutes

Geographic Segment Covered in the Report:

The Deep Brain Stimulation Devices report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)

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Key market aspects are illuminated in the report:

Executive Summary: It covers a summary of the most vital studies, the Global Deep Brain Stimulation Devices market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.

Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Deep Brain Stimulation Devices market, the years measured, and the study points.

Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.

Manufacture by Region: This Global Deep Brain Stimulation Devices report offers data on imports and exports, sales, production and key companies in all studied regional markets.

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