Deep Brain Stimulation Devices Market will grow at 9.7% CAGR, to be valued at US$ 1898.4 Mn by 2027
Deep Brain Stimulation Devices Market Report Analyses competitive environment such as key players, future trends, growths, challenges and acquisitions in the market.
Deep Brain Stimulation Devices Market report includes historic data, present market trends, environment, technological innovation, upcoming technologies and the technical progress in the related industry.
Deep Brain Stimulation Devices Market- Insights
A deep brain stimulation (DBS) device, also known as brain pacemaker, helps to decrease the symptoms of neurological disorders such as the Parkinson's disease (PD). One of the three U.S. Food and Drug Administration (FDA) approved brain sites can be used to implant a DBS device to block the electrical signals from these sites to the brain. These sites include the ventrointermedialis (VIM) nucleus of the thalamus, subthalamic nucleus (STN), and globus pallidus pars interna (GPi).
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Major market players are also focused on launching upgraded versions of their already approved DBS devices in the market. For instance, in August 2018, Abbott Laboratories received the U.S. FDA approval for an over-the-air software upgrade for all currently implanted Infinity DBS systems that deliver magnetic resonance (MR)-conditional labeling.
The global deep brain stimulation devices market size was valued at US$ 831.6 Mn in 2018, and is expected to exhibit a CAGR of 9.7% over the forecast period (2020 – 2027).
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High prevalence of diseases such as Parkinson's disease and epilepsy is expected to fuel the global deep brain stimulation devices market growth
Increasing prevalence of PD is expected to boost demand for DBS devices. For instance, according to the Parkinson's Disease Foundation, as of 2016, over 10 million people are suffering from Parkinson's disease, worldwide. The findings published by the organization demonstrated that incidence rate of PD increases with age and only 4% of people were diagnosed with PD before the age of 50 years. According to the same source, in 2017, the incidence rate of PD in the U.S is as high as 60,000, annually.