Deep Brain Stimulation (DBS) Systems Market Worth USD 2,122.8 Million By 2027 | Emergen Research
- Deep Brain Stimulation Systems Market Size - USD 1,227.5 Million in 2019, DBS Systems Market Growth - CAGR of 8.1%, DBS Devices Market Trends- Rising prevalence of Obsessive Compulsive Disorder (OCD), potential investment opportunities and favorable reimbursement scenario is expected to fuel the market in the forecast period
- Technological advancements in Deep Brain Stimulation (DBS) Systems, prevalence of Parkinson's disease, dystonia and epilepsy, together with rising demand for painless and wireless rechargeable systems are expected to fuel the market growth
VANCOUVER, B.C., Sept. 15, 2020 /PRNewswire/ -- The global Deep Brain Stimulation (DBS) Systems Market was valued at USD 1227.5 million in 2019 and is expected to reach USD 2,122.8 million by 2027, growing at a CAGR of 8.1% according to a new report by Emergen Research. In general, geriatric population suffers from unconscious movements of the body leading to Parkinson's disease, multiple sclerosis and dystonia. In the United States, more than 60,000 people are diagnosed with Parkinson's disease each year, with approximately 10 million people presently living with Parkinson's disease globally. High prevalence of such diseases among elderly coupled with rising geriatric population are fuelling up the demand for the deep brain stimulation systems worldwide. In addition, increasing incidences associated with depression, essential tremor and obsessive compulsive disorder (OCD) are further multiplying the demand of deep brain stimulation systems in the industry.
Minimally invasive surgical techniques play a considerable role in treating neurological symptoms like tremors, movement control and rigidity among other symptoms leading to Parkinson's disease and dystonia. The systems directed in deep brain stimulation safeguards minimal damage to the surrounding brain tissues. Technologically advanced implanted systems have an ability to get recharged wirelessly without further surgical activities. Furthermore, epilepsy is currently affecting more than 50 million people across the world accounting for a substantial proportion of the entire world's disease burden. Side effects linked with the surgery and associated drugs, high cost of treatment along with high cost of deep brain stimulation systems might restrict the industry growth in the forecast period.
Dual channel deep brain stimulation systems product segment accounted for the largest market share of around 57.8%, owing to use of advanced technology and safety features like painless management and wireless recharge to reduce tremors associated with Parkinson's disease
Due to increase in occurrence of unconscious body movements especially in the geriatric population across the globe, Parkinson's disease application segment of the deep brain stimulation systems dominated the market with revenue share of approximately 39.7%
Approximately, 930,000 people are expected to be suffering from the Parkinson's disease in the United States by the end of 2020. Thus, the demand for deep brain stimulation systems is set to increase significantly in the coming years with advanced features to minimise the tremors accompanying the disease
Abbott received expanded indication from the U.S. FDA, in January 2020, for directional deep brain stimulation system to treat Parkinson's disease. With this approval the associated product will treat effectively not just Parkinson's disease but also essential tremor
Large patient pool suffering from Parkinson's disease, epilepsy, dystonia and depression due to growing geriatric population especially in countries like India and China has stimulated the market in the Asia Pacific region. Asia Pacific registered highest CAGR of 9.0% in 2019 and is set to showcase a high rate of growth in the forecast period
Key market players operating in the market include Abbott, Medtronic, Aleva Neurotherapeutics, NeuroPace, Cyberonics, Boston Scientific Corporation and Fisher Wallace among other companies
North America dominated the industry with a largest market share in the deep brain stimulation (DBS) systems market. The growth prospects of the market are attributed to increase in occurrence of depression disorders, product approvals from the US Food and Drug Administration (FDA) along with favorable reimbursement scenarios and potential technological advancements in systems.
Emergen Research have segmented Deep Brain Stimulation (DBS) Systems Market on the basis of product, application, end use and region:
Product Outlook (Revenue in Million USD; 2017–2027)
Application Outlook (Revenue in Million USD; 2017–2027)
Obsessive-Compulsive Disorder (OCD)
End Use Outlook (Revenue in Million USD; 2017–2027)
Ambulatory Care Centre
Regional Outlook (Revenue in Million USD; 2017–2027)
o Rest of the Europe
o South Korea
o Rest of Asia-Pacific
Middle East & Africa
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