20 November 2019 - The
global market size for Deep Brain Stimulators (DBS) in
2016 was worth USD 618.6 million and is anticipated to grow with a CAGR 17.2%
throughout the forecast period. The growth can be attributed to the high
prevalence of neurological disorders such as Alzheimer’s disease, epilepsy, essential
tremor, dystonia, Parkinson’s diseases and obsessive-compulsive disorders. This
in turn raises the clinical urgency to adopt of this stimulation device in
aforementioned indications.
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Application Insights
The deep brain stimulators are commonly used for Parkinson’s
disease owing to its ability to keep track of symptom fluctuations which are
short-lived as the disease progresses. The use of DBS shows higher efficacy
when compared to other oral medication available, hence leading to dominant
market share. In terms of revenue generated in 2016, Parkinson’s disease is
followed by OCD and dystonia.
The higher number of benefits associated with this treatment
is also major contributor for the share registered by Parkinson disease in the
application segment. These include improvement in motor symptoms for longer
duration, increased relief from other non motor symptoms such as sleep
disturbances and muscle cramps. Other benefits include minimum incidences of drug
induced adverse effects including dyskinesia and lower dose of medication
thereby resulting in greater adoption of DBS in comparison with conventional
therapeutic options. The life quality is also enhanced with use of beep brain
stimulators due to improvement in motor symptoms. The aforementioned factors
are the key driving factor for market growth throughout the forecast period.
Moreover, DBS finds use in pain management and increasingly
used for treating epilepsy in the regional market of Europe is projected to
drive the market in future. The continuous research for its usage in newer
array of applications is projected to further impel market growth.
Regional Insights
The overall market was dominated by North American region in
2016 with share of over 50.0%. The high share can be attributed to various
factors such as favorable healthcare infrastructure and supportive
reimbursement policies of the region. Rise in awareness related to application
and benefits associated with them are major contributors to the share attained
by North America over the previous years.
Asia Pacific is expected to witness exponential CAGR
throughout the forecast period. Moreover, the pending approval for
commercialization of DBS for epilepsy treatment by U.S.FDA is anticipated to
further strengthen regional consumer base. Increasing disposable income,
consistent rise in patient awareness and high healthcare expenditure of
emerging countries is predicted to present with high potential growth prospects
across Asia Pacific.
Market Segment:
Global Deep Brain
Stimulators Application Outlook (Revenue, USD Million, 2012 - 2020)
• Pain
Management
• Epilepsy
• Essential
Tremor
• Obsessive
Compulsive Disorder (OCD)
• Depression
• Dystonia
• Parkinson’s Disease
• Others
Deep Brain
Stimulators Regional Outlook (Revenue, USD Billion, 2012 - 2020)
• North
America
• U.S.
• Europe
•
Germany
• UK
• Asia Pacific
•
Japan
• RoW
•
Brazil
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The prominent players in the market include Aleva
Neurotherapeutics SA, Boston Scientific, St. Jude Medical Inc. and Medtronic
Plc. The nature of the industry is oligopolistic with a rise in focus by key
players on providing advance technologies to maintain their competitive edge
and increase penetration.
Various strategies adopted by the major manufacturers are
promoting awareness level amongst patients as well as healthcare professionals.
This is achieved with the help of promotional campaigns which will be fruitful
to increase acceptance of deep brain stimulators in the future.
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