Deep Brain Stimulation Devices Market for Parkinson’s Disease: Overview
- Parkinson’s disease is one of the most common chronic and progressive neurological disorders, which is characterized by postural instability, bradykinesia, akinesia, and tremors due to loss of dopamine producing neurons in substantia nigra of the mid-brain
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Increase in Government Initiatives: Key Driver
- Increase in number of neurological disorders such ischemic stroke, Alzheimer’s disease, tremors, trauma, and Parkinson’s disease (PD) are primary factors responsible for the growth of the global deep brain stimulation devices market
- Additionally, surge in the geriatric population and rise in demand for minimally invasive surgical techniques boost the growth of the global market. Moreover, change in preferences of patients and healthcare professionals to adopt surgical DBS devices over drug therapy is projected to fuel the growth of the global deep brain stimulation devices market in the near future. This can be attributed to considerable number of side effects and loss of effectiveness of drug and other therapies.
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North America to Dominate Deep Brain Stimulation Devices Market for Parkinson’s Disease
- Based on product type, the global deep brain stimulation devices market for Parkinson’s disease has been segmented into single-channel deep brain stimulator, and dual-channel deep brain stimulator
- In terms of end-user, the global deep brain stimulation devices market for Parkinson’s disease has been classified into hospitals, ambulatory surgical centers, neurological clinics, and others
- In terms of region, the global deep brain stimulation devices market for Parkinson’s disease has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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- North America is projected to dominate the global market during the forecast period, accounting for 38.60% share by 2028. The market in the region is anticipated to reach US$ 0.48 Bn by 2028.
- North America's largest market share can be attributed to increase in the number of patients undergoing surgical therapy that utilizes DBS devices for treating Parkinson’s disease and surge in the geriatric population. Additionally, favorable government reimbursement policies and risk of side effects related to medication treatments are expected to boost the growth of the market in North America.
- Small market share of Asia Pacific, Latin America, and Middle East & Africa can be ascribed to lack of awareness, lack of favorable government support & other insurance policies, and high cost of these devices
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Major Players
- Major players operating in the global deep brain stimulation devices market are Medtronic, Inc., St. Jude Medical, Inc. and Boston Scientific Corporation. These companies have commercialized several significant DBS devices in the global market such as Libra, Activa, and Vercise. Other companies that are prominently active in the market are Aleva Neurotherapeutics SA, Adaptive Neuromodulation GmbH (ANM), NeuroSigma, Inc., and NeuroPace, Inc. DBS products of these players are not yet commercially available in the market, as these are still under clinical trials.
- Companies focus on introducing innovative products that are easy to use for physicians as well as patients. These companies aim to make the devices more portable, affordable, efficient, and effective.
- Each of these players has been profiled in the deep brain stimulation devices market for Parkinson’s disease report based on parameters such as company overview, financial overview, business strategies, application portfolio, business segments, and recent developments
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