Deep Brain Stimulation Devices Industry Overview
The global deep brain stimulation devices market size was valued at USD 1.05 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030. The increasing number of patients suffering from involuntary movements associated with Parkinson’s disease, dystonia, and multiple sclerosis is expected to drive market growth. In addition, increasing demand for minimally invasive techniques due to enhanced patient outcomes is also a high-impact rendering driver for the market. Moreover, the introduction of telehealth consults and eHealth apps to routinely monitor PD patients during the COVID-19 pandemic is further expected to support the deep brain stimulation (DBS) devices market growth over the forecast period.
The outbreak of COVID-19has negatively impacted the market by directly affecting the demand & production, creating a disruption in the supply chain, and increasing the financial burden on firms. To reduce the spread of the coronavirus, brain surgeries have frequently been postponed or even canceled during this timeframe. In worst-affected nations, such as the U.S., Russia, India, Brazil, France, the U.K., Italy, and Spain, neurosurgical operations fell by 55%.
Gather more insights about the market drivers, restraints, and growth of the Global Deep Brain Stimulation Devices Market
Manufacturers have found it difficult to serve their surgeon customers since some hospitals have restricted access to their facilities or changed access regulations. As a result, they saw a decrease in procedural volumes in 2020, which is expected to stifle market growth. However, globally increased activities in tele-consultancy for follow-up and routine check-ups to address the symptoms of PD patients during the pandemic are playing a key role in improving market growth. Thus, such trends are expected to have a significant impact on the adoption of DBS in upcoming years.
Additionally, most nations across the world have eased lockdown restrictions and recommence certain elective surgeries, thus the market is projected to recover and grow during the forecast period. Companies have been using strategies such as rerouting logistics, sourcing from additional partners, and air freight delivery to deal with supply chain disruptions. In addition, major firms are planning to geographically expand their businesses and establish more warehouses in various areas to conduct their operations through multiple available channels in worst-affected regions to satisfy demand. These characteristics are projected to generate lucrative market growth prospects for the market.
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Deep Brain Stimulation Devices Market Segmentation
Grand View Research has segmented the global deep brain stimulation devices market based on product, application, end-use, and regions:
Deep Brain Stimulation Devices Product Outlook (Revenue, USD Million, 2018 - 2030)
- Single Channel
- Dual Channel
Deep Brain Stimulation Devices Application Outlook (Revenue, USD Million, 2018 - 2030)
- Pain Management
- Epilepsy
- Essential Tremor
- Obsessive-compulsive Disorder (OCD)
- Depression
- Dystonia
- Parkinson’s Disease
- Others
Deep Brain Stimulation Devices Application Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals
- Neurology Clinics
- Ambulatory Surgical Centers
- Research Centers
Deep Brain Stimulation Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights:
March 2020: NeuroPace, Inc. received approval from the U.S. FDA for MRI labeling for its RNS System.
January 2020: Abbott’s Infinity DBS system secured FDA approval for the expanded indication of received approval for Parkinson's disease from the U.S. FDA. This system will allow targeting of the specific area of the brain called internal Globus Pallidus (GPi), which is associated with Parkinson's disease symptoms.
Key Companies profiled:
Some prominent players in the global Deep Brain Stimulation Devices market include
- Abbott (St. Jude medical)
- Medtronic
- Boston Scientific Corporation
- Aleva Neurotherapeutics
- Nexstim
- LivaNova PLC
- Neuropace Inc.
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