Wilmington, Delaware, United States, May 09, 2023 (GLOBE NEWSWIRE) -- The global deep brain stimulation devices market for Parkinson’s disease was valued at USD 0.85 Bn in 2020 and is anticipated to exceed USD 1.2 Bn by 2028 at a CAGR of 5.1% between 2021 and 2028.
In order to periodically keep a tab on patients suffering from Parkinson's disease, eHealth and telehealth apps became increasingly popular during the COVID-19 pandemic. The global market for deep brain stimulation devices for Parkinson's disease is driven by attractive reimbursement policies across healthcare institutions.
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Implantable pulse generators for DBS systems demand innovation in technology. Hence, market players are expected to invest significantly in R&D to maximize battery longevity, along with patient-compliance factors such as consistency in nighttime device shutdown or IPG recharging dependability. For medical technology companies to thrive in the global market, they must focus on device-specific aspects, including implantation site, careful electrode material selection, parameter delivery, and lead configuration option to reduce impedance mismatch.
Key Findings of Market Report
- Demand for deep brain stimulation devices for Parkinson's disease is likely to be driven by growing acceptance of minimally invasive methods. Deep brain stimulation surgical therapy is rapidly gaining momentum and becoming a common treatment option in cases where Parkinson's disease is present and has progressed to an advanced state in the patient.
Global Deep Brain Stimulation Devices Market for Parkinson’s Disease Market: Key Players
- NeuroSigma, Inc.
- Boston Scientific Corporation
- Medtronic, Inc.
- Adaptive Neuromodulation GmbH (ANM)
- St. Jude Medical, Inc.
- NeuroPace, Inc.
- Aleva Neurotherapeutics SA
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Global Deep Brain Stimulation Devices Market for Parkinson’s Disease Market: Growth Drivers
- Parkinson's disease (PD) patients who are at higher risk for chronic stress due to lockdown measures as well as dystonic patients receiving deep brain stimulation are likely to experience deterioration of their motor and psychological symptoms. In these situations, eHealth mobile and telehealth applications are essential in treating PD patients' symptoms. Additionally, in order to avoid delays in the medical care of patients, med-tech companies are stepping up their efforts to ensure a steady supply of DBS devices.
- The global deep brain stimulation devices market for Parkinson's disease is driven by rapid expansion of aging population and rise in demand for minimally invasive surgical methods. Additionally, increase in usage of surgical DBS devices over medication therapy by patients and medical professionals are expected to propel market development in the near future. This is a result of significant adverse effects and decreasing therapeutic efficacy of medications. This factor is projected to fuel market demand for deep brain stimulation devices in the next few years.
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21 - Tables
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Global Deep Brain Stimulation Devices Market for Parkinson’s Disease Market: Regional Landscape
- The global industry is anticipated to be driven by favorable government reimbursement policies and adverse drug-related side effects. Increase in number of Parkinson's disease patients opting for surgical therapy with DBS devices and rise in the elderly population are propelling the market in North America.
Global Deep Brain Stimulation Devices Market for Parkinson’s Disease Market: Segmentation
Product Type
- Single-Channel Deep Brain Stimulator
- Dual-Channel Deep Brain Stimulator
End-user
- Hospitals
- Ambulatory Surgical Centers
- Neurological Clinics
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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