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The global Deep Brain Stimulation (DBS) Parkinson's disease market size was valued at USD 2.3 billion in 2022 and is expected to reach USD 4.9 billion by 2032

NEW YORK , NY, UNITED STATES, May 8, 2023 /EINPresswire.com/ -- The global Deep Brain Stimulation (DBS) Parkinson's Disease market was valued at USD 2.3 billion in 2022. It is projected to reach USD 4.9 billion by 2032, with a compound annual growth rate (CAGR) of 8.5% during the forecast period. The market is primarily driven by the increasing aging population worldwide and the rising prevalence of Parkinson's disease, contributing to the growth in market revenue.

Parkinson's disease affects millions of individuals globally, particularly in developed countries, and is characterized as a chronic and degenerative movement disorder. The inadequate efficacy of existing treatments and the growing prevalence of Parkinson's disease are key factors fueling the revenue growth in the market.

Deep Brain Stimulation (DBS) for Parkinson's disease is a neurosurgical procedure that involves implanting electrodes in specific brain regions to control abnormal impulses and enhance motor functions in patients. The market's revenue growth is driven by the increasing demand for less invasive surgeries and advancements in DBS technology. Precise electrode placement in the brain, facilitated by innovative imaging techniques like CT and MRI, further contributes to the market's growth.

Moreover, there is a rise in research and development (R&D) efforts to develop novel DBS systems and improve the effectiveness and safety of the technique. Clinical trials exploring the potential of DBS in treating various neurological conditions such as epilepsy, depression, and obsessive-compulsive disorder also contribute to the expansion of the market.

However, certain factors may hinder the market's growth, including the high cost associated with DBS procedures, lack of reimbursement policies in developing nations, and potential complications related to the procedure. The COVID-19 pandemic has also impacted market growth due to the temporary suspension of elective procedures and disruptions in the supply chain.

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Segments Covered in the Report

The segmentation of the Deep Brain Stimulation (DBS) Parkinson's Disease market is categorized into different segments based on product type outlook, end-use outlook, and regional outlook.

In terms of product type outlook, the market includes single-channel DBS, dual-channel DBS, and others. These segments represent different variations and configurations of the DBS technology used in the treatment of Parkinson's disease.

When considering the end-use outlook, the market can be divided into hospitals, ambulatory surgery centers, and others. These segments represent the various healthcare facilities where DBS procedures are performed and patients receive treatment.

Regionally, the market is analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions provide insights into the market dynamics and opportunities specific to each geographical area.

The country scope within these regions includes the United States, Canada, the United Kingdom, Germany, France, BENELUX (Belgium, Netherlands, Luxembourg), China, India, Japan, South Korea, Brazil, Saudi Arabia, the United Arab Emirates, and Turkey. These countries are key markets within their respective regions, and their analysis helps in understanding the market trends and growth potential at a more granular level.

Understanding the segmentation of the market based on product type, end-use, and region provides a comprehensive view of the DBS Parkinson's Disease market landscape. It enables stakeholders to identify specific market opportunities, tailor their strategies accordingly, and make informed decisions to drive growth and success in the industry.

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Strategic development:

Market players in the Deep Brain Stimulation (DBS) Parkinson's Disease industry are implementing various strategies to strengthen their market position. These strategies include entering strategic agreements, developing innovative products, and acquiring small and medium-sized players. Recent strategic developments in the market include:

In March 2021, Medtronic plc announced the acquisition of Medicrea International, a privately-held French company specializing in patient-specific implants and instruments for spine surgery. This acquisition aimed to expand Medtronic's portfolio of minimally invasive surgical solutions for spine surgery and enhance its position in the global DBS Parkinson's Disease market.

In November 2020, Abbott Laboratories introduced the Infinity Deep Brain Stimulation system, designed to aid physicians in treating patients with Parkinson's Disease and essential tremor. The system features a small-sized wireless implant that delivers targeted brain stimulation, improving patient outcomes and quality of life.

In October 2020, Boston Scientific Corporation acquired Farapulse, Inc., a California-based medical device company that develops a non-thermal ablation system for cardiac arrhythmias. This acquisition aimed to broaden Boston Scientific's portfolio of cardiac rhythm management devices and strengthen its position in the global DBS Parkinson's Disease market.

In September 2020, Beijing PINS Medical Co. Ltd. completed its Series B+ financing round, raising $68 million. The company plans to utilize the funds to develop and introduce innovative treatment solutions for DBS Parkinson's Disease, further solidifying its position in the global market.

In August 2020, NeuroPace, Inc. obtained FDA approval for its RNS System, a device designed to treat patients with refractory epilepsy. The RNS System utilizes DBS to deliver precise electrical stimulation to seizure-causing areas in the brain, reducing the frequency and severity of epileptic episodes.

Competitive Landscape:

The competitive landscape of the Deep Brain Stimulation (DBS) Parkinson's Disease market features several key players striving to establish a strong market presence. These companies are engaged in developing innovative technologies, entering strategic partnerships, and expanding their product portfolios to gain a competitive edge. Some of the prominent players in the market include Medtronic, Boston Scientific Corporation, St. Jude Medical (now part of Abbott Laboratories), Aleva Neurotherapeutics, Sapiens Neuro, SceneRay Corporation, Beijing PINS Medical Co. Ltd., Magstim, and Fisher Wallace.

Medtronic, a leading player in the DBS Parkinson's Disease market, focuses on providing a range of advanced medical devices and therapies. Boston Scientific Corporation is known for its comprehensive portfolio of medical solutions, including DBS devices. Abbott Laboratories, following its acquisition of St. Jude Medical, has strengthened its position in the market with innovative DBS systems.

Other notable players in the market include Aleva Neurotherapeutics, Sapiens Neuro, SceneRay Corporation, Beijing PINS Medical Co. Ltd., Magstim, and Fisher Wallace. These companies are actively involved in the development of cutting-edge technologies, clinical trials, and strategic collaborations to enhance their market presence.

The competitive landscape of the DBS Parkinson's Disease market is characterized by intense competition and the pursuit of technological advancements. Players are focused on expanding their market reach through geographical expansions, product launches, and acquisitions. With the growing demand for DBS in the treatment of Parkinson's Disease, these key players are striving to provide innovative solutions and improve patient outcomes, contributing to the overall growth and development of the market.

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In conclusion, the global deep brain stimulation parkinsons disease market is highly competitive, with a few major players dominating the market. These companies are actively involved in developing new technologies and products, investing in research and development, and engaging in strategic partnerships and collaborations to maintain their market share and drive revenue growth.

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