Deep Brain Stimulation Devices Market - Growth, Trends, and Forecast (2019 - 2024)

The Deep Brain Stimulation Devices Market is segmented by Product Type, Application (Parkinson’s Disease, Essential Tremor, Obsessive Compulsive Disorder, Epilepsy, Dystonia, and Other Applications), End User, and Geography.

Market Snapshot

Deep Brain Stimulation Devices Market 1
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Europe

Largest Market:

North America

CAGR:

11.8%

Key Players:

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Market Overview

The deep brain stimulation devices market is expected to register a CAGR of nearly 11.8% during the forecast period, 2019-2024. The major factors driving the growth of the market include the rapidly aging population, which is leading to risk and high prevalence of neurological disorders, growing demand for the devices, due to the rising popularity of minimally invasive procedures, and availability of technologically advanced deep brain stimulation devices.

  • Deep brain stimulation (DBS) is a widely used treatment for advanced Parkinson's disease (PD), essential tremor, and dystonia. However, over the last three decades, in addition to the extension of its clinical applications, there has been tremendous growth in the DBS technology.
  • Currently, there are multiple DBS systems that have been approved by the European and US regulatory agencies. The US Food and Drug Administration (FDA) approved Boston Scientific Corporation’s Vercise Deep Brain Stimulation (DBS) System. This system is used to treat the symptoms of Parkinson's disease (PD). Additionally, researchers are enhancing their existing DBS systems, while developing the next-generation devices.
  •  The researchers are using DBS to target different areas of the brain and studying the treatment in different populations suffering from Parkinson’s disease. Some changes in the new systems have shown improvement in clinical outcomes. Nevertheless, these new developments in the DBS technology are encouraging a large patient community and healthcare providers.
  • Hence, all such advancements in the DBS technology have to lead to the growth of the deep brain stimulation devices market.

Scope of the Report

As per the scope of this report, deep brain stimulator is a battery-operated medical device, which is also called neurostimulator. It is used in neurosurgical procedures, to treat a variety of disabling neurological symptoms. The market is segmented by product type, application, end user, and geography.

Product Type
Single-channel Deep Brain Stimulator
Dual-channel Deep Brain Stimulator
Application
Parkinson's Disease
Essential Tremor
Obsessive Compulsive Disorder
Epilepsy
Dystonia
Other Applications
End User
Hospitals
Ambulatory Surgical Centers
Neurological Clinics
Other End Users
Geography
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Under the Application Segmentation, Parkinson’s Disease is Expected to Dominate the Market

The major factor driving the growth of the segment is the rising global prevalence of Parkinson’s disease. According to Parkinson’s News in 2018, approximately 1.2 million people in the United States are estimated to suffer from Parkinson’s disease by 2030. It is the second-most common neurodegenerative disorder in the United States. Similarly, as per the estimates of the NHS UK, Parkinson's disease is found affecting around 1 in 500 people, which means that an estimated 127,000 people in the United Kingdom are suffering from the condition. In addition, there are thousands of patients who go undetected. DBS is the most commonly performed surgical treatment for Parkinson's disease. It is usually done in people, who have been suffering from Parkinson's disease for at least four years and have benefits from medications but have motor complications. Additionally, there is a rising technological advancement in the field of DBS, which is propelling the overall growth of the market.

Deep Brain Stimulation Devices Market 2

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North America is Expected to Dominate the Market

According to the Parkinson’s Foundation Prevalence Project, 930,000 people are estimated to suffer from Parkinson’s disease in the United States, by 2020. The combined direct and indirect costs of Parkinson’s in the United States, including treatment, disability, and similar costs, along with the lost income, owing to the patients’ inability to work, are estimated to be valued at USD 25 billion per year in the United States alone. Hence, the growing burden of Parkinson’s disease on the healthcare system, coupled with uncertain economic conditions in the United States, has forced the original equipment manufacturers (OEMs) to develop cost-effective devices for the treatment of neurological movement disorders. The US Food and Drug Administration (FDA) approved a deep brain stimulation (DBS) device, namely Brio System, in 2015, for the treatment of Parkinson’s disease and essential tremor. The Brio System’s approval has been good news for the patient community, as it may stimulate more rapid development of the DBS technology. Additionally, Boston Scientific Corporation received approval from the US Food and Drug Administration (FDA) in December 2017, for its Vercise Deep Brain Stimulation (DBS) System. Hence, all such product approvals and growing incidences of the Parkinson’s disease have helped in driving the growth of the deep brain stimulation devices market.

Deep Brain Stimulation Devices Market 3

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Competitive Landscape

The market is consolidated, owing to the presence of a few major market players. Some of the market players are Abbott Laboratories (St. Jude Medical), Beijing PINS Medical Co. Ltd, Boston Scientific Corporation, Fisher Wallace, Functional Neuromodulation Ltd, Medtronic PLC, NeuroPace Inc., and Renishaw PLC.

Major Players

  1. Abbott Laboratories (St. Jude Medical)
  2. Boston Scientific Corporation
  3. Medtronic PLC
  4. NeuroPace Inc.
  5. Renishaw PLC

* Complete list of players covered available in the table of contents below

Deep Brain Stimulation Devices Market 4

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rapidly Aging Population, Leading to Risk and High Prevalence of Neurological Disorders

      2. 4.2.2 Growing Demand for the Devices, Due to Rising Popularity of Minimally Invasive Procedures

      3. 4.2.3 Availability of Technologically Advanced Deep Brain Stimulation Devices

    3. 4.3 Market Restraints

      1. 4.3.1 Risks Associated with Deep Brain Stimulation Procedures

      2. 4.3.2 Implementation of Government Policies Negatively Affecting the Market

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Single-channel Deep Brain Stimulator

      2. 5.1.2 Dual-channel Deep Brain Stimulator

    2. 5.2 Application

      1. 5.2.1 Parkinson's Disease

      2. 5.2.2 Essential Tremor

      3. 5.2.3 Obsessive Compulsive Disorder

      4. 5.2.4 Epilepsy

      5. 5.2.5 Dystonia

      6. 5.2.6 Other Applications

    3. 5.3 End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Ambulatory Surgical Centers

      3. 5.3.3 Neurological Clinics

      4. 5.3.4 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 US

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 UK

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East & Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East & Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories (St. Jude Medical)

      2. 6.1.2 Beijing PINS Medical Co. Ltd

      3. 6.1.3 Boston Scientific Corporation

      4. 6.1.4 Fisher Wallace

      5. 6.1.5 Functional Neuromodulation Ltd

      6. 6.1.6 Medtronic PLC

      7. 6.1.7 NeuroPace Inc.

      8. 6.1.8 Renishaw PLC

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape Covers - Business Overview, Financials, Products, Strategies, and Recent Developments

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