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The market for deep brain stimulation (DBS) devices is expected to grow to

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Pune, July 11, 2024 (GLOBE NEWSWIRE) — Deep Brain Stimulation (DBS) Devices Market Size Analysis:

“According to SNS Insider Research, Deep Brain Stimulation (DBS) Device Market The company is valued at USD 1.25 billion in 2023 and is projected to cross USD 3.10 billion by 2032, at a compound annual growth rate (CAGR) of 11.12% during the forecast period 2024-2032.”

High incidence of various types of neurological diseases such as: Epilepsy is expected to drive demand for deep brain stimulation devices, which in turn will provide impetus to growth trends over the forecast period. One of the most common neurological diseases in the world Epilepsy affects about 50 million people worldwide, which is in line with the facts documented in the WHO Key Facts as of February 2023. The same source reported that one in 200 people are diagnosed with epilepsy, with the vast majority (80%) of them living in low- and middle-income countries.

Moreover, leading market players are further engaged in launching new and advanced DBS devices in many countries across the world to facilitate the growth of the industry. For example, in August 2022, Medtronic Private Limited (India), a subsidiary of Medtronic plc (Ireland), unveiled the SenSight system with a directional lead for DBS therapy to treat movement disorders and epilepsy. Medtronic plc also announced the launch of its Percept PC DBS system in South Korea to help control tremor and Parkinson’s disease patients. These are the first products to be advertised as incorporating extracellular, closed-loop neural recording technology with DBS therapy delivery for the treatment of neurological patients.

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Analysis of the main players mentioned in this report are:

  • Abbott Laboratories
  • Beijing Pinchi Medical Equipment Co., Ltd.
  • Boston Scientific Corporation
  • Fisher Wallace Laboratories
  • Functional Neuromodulation Sp. z o. o.
  • Medtronic
  • NeuroPace Inc.
  • Renishaw PLC controller
  • Aleva Neurotherapeutics S.A.
  • LivaNova PLC
  • Other players

Deep Brain Stimulation (DBS) Devices Market Report Scope:

Report Attributes Details
Market size in 2023 1.25 billion US dollars
Market size by 2032 3.10 billion US dollars
CAGR CAGR 11.12% from 2024 to 2032
Base year 2023
Forecast period 2024-2032
Historical data 2020-2022
Key regional reach North America (USA, Canada, Mexico), Europe (Eastern Europe (Poland, Romania, Hungary, Turkey, rest of Eastern Europe), Western Europe), Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, rest of Asia Pacific), Middle East and Africa (Middle East (UAE, Egypt, Saudi Arabia, Qatar, rest of Middle East), Africa (Nigeria, South Africa, rest of Africa), Latin America (Brazil, Argentina, Colombia, rest of Latin America)
Key growth factors •A rapidly aging society is responsible for the increase in the number of neurological disorders, which generates the need for deep brain stimulation devices
•Sudden increase in demand for deep brain stimulation devices due to the growing popularity of minimally invasive procedures.

Segmentation dynamics

Parkinson’s disease is expected to reach 66.01% of the market share in the coming years. The growing population of Parkinson’s disease patients worldwide has led to an increased demand for effective therapeutic solutions. Deep brain stimulation devices are an effective treatment for the symptoms associated with Parkinson’s disease and can significantly improve the quality of life of many patients. The second most common neurodegenerative disorder in people aged 50 years and above is Parkinson’s disease, as per the NIH article from January 2023. Hence, the rising incidence of Parkinson’s disease is expected to increase consumer demand for new treatment options using advanced DBS technologies, which in turn will lead to the growth of the deep brain stimulation device market.

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In addition, more than 90,000 people aged 40 and older are living with Parkinson’s disease, as documented by the Canadian federal government in an April study. Over the past few years, advances in DBS technology—including improved overall targeting and programming features along with reduced side-effect profiles—have increased therapeutic efficacy, dramatically increasing the growth of the deep brain stimulation device market.

The major segments and sub-segments of the deep brain stimulation (DBS) devices market are:

By product

  • Single channel
  • Dual channel

By application

  • Pain management
  • Epilepsy
  • Essential tremor
  • Obsessive-compulsive disorder (OCD)
  • Depression
  • Dystonia
  • Parkinson’s disease
  • Others

According to purpose

  • Hospitals
  • Neurological clinics
  • Outpatient Surgery Centers
  • Research centers

Regional analysis

Geographically, North America dominates a significant share of 52.3% of the global market. The high share is attributed to factors driving the market growth such as the emergence of high prevalence of various neurological disorders, presence of leading players in the market, and higher number of products in the pipeline. For example, as per the CDC statement in May 2022, currently around 3 million adults in the United States are suffering from epilepsy. Moreover, in October 2022, the American Psychiatric Association stated that in the United States, the anxiety disorder Obsessive Compulsive Disorder Imperative OCD affects around 2-3% of people annually. Hence, higher incidences of various neurological disorders in the North American region are expected to generate high demand for advanced deep brain stimulation devices, rapidly increasing the market growth.

Last changes

  • In March 2023 Michigan Tech In March 2023, scientists developed a “smart” deep brain stimulation system. The focus was on a closed-loop deep brain stimulation device system that changes stimulation signals based on the symptoms experienced by Parkinson’s patients.

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Table of Contents – Key Points

1. Introduction

2. Industry Flow Chart

3. Research methodology

4. Market dynamics

4.1 Drivers

4.2 Limitations

4.3 Possibilities

4.4 Challenges

5. Porter’s 5 Forces Model

6. Pest Analysis

7. Deep Brain Stimulation (DBS) Devices Market Segmentation by Product

8. Deep Brain Stimulation (DBS) Devices Market Segmentation by Application

9. Deep Brain Stimulation (DBS) Devices Market Segmentation by End Use

10. Regional analysis

11. Company profiles

12. Competitive Landscape

13. Use Case and Best Practices

14. Conclusions

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