Deep Brain Stimulation Devices Market
Deep Brain Stimulation Devices Market: Deep brain stimulation therapy is a surgical treatment for the patients with movement and neuropsychiatric disorders. Deep brain stimulation procedure involves implantation of devices known as neurostimulator, which sends the electrical signals through implanted electrodes to specific targets of brain. Deep brain stimulation devices are surgically implanted and battery operated medical devices similar to heart pacemakers. It is indicated in Parkinson’s disease, essential tremor, dystonia, major depression and obsessive-compulsive disorder.
Deep brain stimulation devices market is mainly driven by the worldwide increase in prevalence of neurological disorders such as epilepsy, Parkinson’s disease and others. According to World Health Organisation (WHO), approximately 50 million people have epilepsy worldwide. In addition, rising demand for the minimally invasive device system and technological advancements in neurostimulation systems and lifestyle changes in developed and developing regions expected to boost the market growth during the forecast period. Furthermore, deep brain stimulation system does not involve in destruction of any brain part and no need for further surgery for adjustment. These factors expected to bolster the deep brain stimulation devices market. However, lack of skilled professionals and the risks involved in deep brain stimulation such as infection and malfunction of stimulator expected to hamper the deep brain stimulation market growth over the forecast period.
Global deep brain stimulation devices market is segmented based on product type, battery type, application and end user
Based on product type, market is segmented into
- Single Channel Devices
- Dual Channel Devices
Based on battery type, market is segmented into
- Non Rechargeable
Based on application, market is segmented into
- Parkinson’s Disease
- Pain Management
Based on end user, deep brain stimulation devices market is segmented into
- Ambulatory Surgical Centers (ASC’s)
There are few market players in deep brain stimulation devices market, but marketplace is dominated by the big and strong players who are acquired the other competitors to strengthen their position in the market. For instance, In August 2014, Medtronic Plc acquired Sapiens Steering Brain Stimulation (Sapiens SBS), a developer of deep brain stimulation system to strengthen their neuromodulation market segment. Furthermore, companies are focused on the advanced product development and new product launches to expand their market share. For instance, In June 2016, St. Jude Medical launched Infinity Deep Brain Stimulation system and directorial DBS lead for treatment of Parkinson’s, tremor and dystonia in Europe. Infinity DBS system got CE approval in September 2015.
Geographically, deep brain stimulation devices market has been segmented into Latin America, Europe, Asia- Pacific, North America, and the Middle East & Africa. North America deep brain stimulation devices market is expected to grow at significant rates owing to the factors such as an increase in prevalence of diseases such as Parkinson’s and growing demand for minimally invasive procedures for treatment of neurological disorders. According to Parkinson’s disease Foundation about 60,000 Americans are diagnosed with Parkinson’s disease each year. Europe region expected to grow at notable rates owing to established healthcare infrastructure and recent product launches such as Infinity DBS system by St. Jude Medical and prevalence of the diseases. Asia Pacific region expected to grow at significant rate considering the factors such as developing healthcare infrastructure, and growing incident rates of neurological disorders and increase in sedentary lifestyle.
Competition Assessment: Deep Brain Stimulation Devices Market
Some of the players in deep brain stimulation devices market are Medtronic Plc (U.S.), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), Aleva Neurotherapeutics SA (Switzerland), Soterix Medical Inc. (U.S.), Bioinduction Ltd. (UK), and St. Jude Medical Inc. (U.S.).
Market Developments: Deep Brain Stimulation Devices Market
- In September 2012, Boston Scientific Corporation received CE Mark Certification for its deep brain stimulation system Vercise for the use in treatment of Parkinson’s disease.
- In March 2011, Medtronic Plc launched Activa SC deep brain stimulation system in Europe and U.S.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2013 to 2016) and forecast (2017 to 2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market