Global Deep Brain Stimulation Devices Market By Product, By Application, By End-Use, By Region and Companies - Industry Segment Outlook, Market Assessment , Competition Scenario, Trends and Forecast 2023-2032

Report Overview

The global market for deep brain stimulation devices was valued at USD 1,238 million in 2021. It is expected to reach USD 3162.48 million at a CAGR of 8.9% between 2023 and 2032. Market growth is expected to be driven by the increasing number of patients with involuntary movements due to multiple sclerosis, Parkinson’s disease, and dystonia.

The market is also expected to significantly increase demand for minimally invasive treatments due to improved patient outcomes. The industry is expected to grow due to the addition of telehealth consultations and eHealth applications to monitor PD patients routinely during the COVID-19 pandemic. This market report gives a detailed analysis of the deep brain stimulation devices market size, share, growth, key trends, and other key factors.

Global Deep Brain Stimulation Devices Market Analysis

Product Analysis

The market can be divided into two types based on product: dual-channel deep-brain stimulation devices and single-channel deep-brain stimulation devices. Due to its greater adoption in surgical procedures, the dual-channel segment dominates the industry and will hold a share of 55.3% in 2021.

Dual channels are one of the safest and most effective devices for surgical procedures. The segment growth is driven by the rising prevalence of neurological disorders, increasing surgical procedures for PD, and growing numbers of hospitals that use dual-channel DBS systems. Technological advances and new product launches further drive segment growth.

In 2020, Abbott’s Infinity DBS System was approved by FDA for an expanded indication. This approval is for Parkinson’s Disease. This system will enable targeting the area of the brain known as the internal Globus Pallidus, which is associated with Parkinson’s disease symptoms.

The single-channel deep brain stimulation devices segment will grow at a 9.8% compound annual growth rate from 2023 to 2032. Healthcare professionals prefer Single-channel DBS devices because they offer more programming options for neurologists.

Application Analysis

The market can be divided by application into pain management, epilepsy and essential tremor (OCD), obsessive-compulsive disorders, depression, dystonia, and Parkinson’s disease. The industry share for Parkinson’s disease is 64.3%, with the U.S. FDA approving deep brain stimulation therapies. This is due to the high prevalence of PD in the world.

The epilepsy market is expected to grow at a 13.1% compound annual growth rate between 2023 and 2032. In the next few years, epilepsy segment growth will be fueled by increased awareness of advanced treatment options and improved healthcare infrastructure. Epilepsy is one of the most prevalent neurological diseases in the world. Due to its low therapeutic response to medication and lower success rates with surgeries, DBS is being used in epilepsy. This will also facilitate segment growth.

End-Use Analysis

Hospitals dominated the market growth in the end-use segment with 52.18% of the total industry share by 2021. This segment’s growth can be attributed to increased hospital DBS surgeries and the rise in Parkinson’s disease and essential tremors. The hospital market will be further impacted by the introduction of DBS devices that are more advanced and have favorable reimbursement policies.

Medtronic, for example, offers comprehensive services that can secure and maintain coverage and payment for DBS devices. Hospitals are also advancing in technology. Advanced devices are used extensively in hospitals to offer better treatment. These devices not only simplify treatment but also help provide faster and more accurate results. All neurological disorders, including Parkinson’s, can be diagnosed and treated in specialized hospitals using the most advanced equipment.

Key Market Segmentation

By Product

• Dual Channel
• Single Channel

By Application

• Pain Management
• Epilepsy
• Essential Tremor
• Other Applications

By End-Use

• Neurology Clinics
• Hospitals
• Research Centers
• Ambulatory Surgical Centers

Market Dynamics

COVID-19 has negatively affected the industry by directly impacting demand and production, disrupting the supply chain, and increasing financial burdens on businesses. Brain surgeries were often delayed or canceled to reduce the spread of coronavirus.

The market is expected to grow and recover because most countries around the globe have removed lockdown restrictions. Companies have used strategies to address supply chain disruptions, like rerouting logistics and sourcing from other partners. Major firms plan to expand geographically and open more warehouses in different areas to operate through multiple channels in the worst-affected areas.

These attributes are expected to lead to lucrative market growth opportunities. This industry will also benefit from technological advances in DBS technology. Improved microelectrode design, robot-assisted implantation, multi-target stimulation, and rechargeable pulse generators are just a few technological innovations. These technological advances have resulted in DBS devices that are less harmful and more effective than traditional methods.

According to analysts from Research, the rising popularity of minimally-invasive procedures is expected to boost sales of deep brain stimulation equipment to treat Parkinson’s disease. The Parkinson’s disease segment is dominating the market, with a share of 65.13 percent by 2021, due to the increase in U.S. FDA approvals for deep brain stimulation treatments and the incidence of PD across the globe.

Deep brain stimulation is only utilized in those with the highest refractory conditions, generally within the context of expert medical research and interdisciplinary treatments that are expected to restrict market expansion.

The main factors behind the rapid growth of deep brain stimulation device market growth are the growing prevalence of neurological diseases as well as the desire for a more targeted method, and technological advances.

Regional Analysis

North America dominated this market, with a 53.6% share in 2021. This is due to increased government funding and initiatives to raise awareness about Parkinson’s Disease (PD).

Asia Pacific will continue to lead the industry from 2023 to 2032. This is due to the increasing prevalence of neurodegenerative diseases and the unmet need for long-term, effective solutions. This region is expected to see a rise in awareness of neurological disease treatments and improvements in the clinical developmental framework in emerging economies.

The high growth potential in emerging countries like India, Japan, and China will likely aid market growth. Regional growth will also be boosted by establishing organizations such as the Asia-Pacific Centre for Neuromodulation, which was established to conduct research and promote awareness about deep brain stimulation.

Key Regions and Countries covered in thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Industry Share & Key Players Analysis:

The industry’s key players focus more on product launches and technological advances. In 2019, the FDA China approved LivaNova and MicroPort Scientific for RegaTM pacemakers. These pacemakers are among the most compact in the Chinese market for cardiac rhythm management. This approval will increase the company’s presence in China and expand its reach into the Chinese industry.

Market innovators include NeuroPace Inc. and Aleva Neurotherapeutics SA. These competitors offer products that are competitive in price and functionality as well as technologically advanced. These competitors are focusing on product marketing and fundraising to support R&D growth. The following are some of the major players in the global deep-brain stimulation industry:

Маrkеt Кеу Рlауеrѕ:

• Abbott Laboratories
• Medtronic Plc
• Boston Scientific Corporation
• Aleva Neurotherapeutics S.A.
• Nexstim
• LivaNova PLC
• NeuropaceNeuropace Inc.
• Ѕt Јudе Меdісаl
• Веіјіng Ріnѕ
• ЅсеnеRау
• Other Key Players

These are the major companies in this market.