Deep Brain Stimulation Devices Market is Expected to Reach ~US$ 3033.4 million by 2030

Dec 2, 2022 - 13:45

0 42

Deep Brain Stimulation Devices Market is Expected to Reach ~US$ 3033.4 million by 2030

According to the Market Statsville Group (MSG), the global deep brain stimulation devices market size is expected to grow from USD 1,318.5 million in 2021 to USD 3033.4 million by 2030, at a CAGR of 9.7% from 2022 to 2030. The deep brain stimulation (DBS) device, also known as a brain pacemaker, assists in relieving parkinson's disease symptoms (PD). The device is implanted in one of three FDA-approved brain locations in the United States to restrict electrical impulses from these areas of the brain. The three FDA-approved targeted brain locations in the United States are the ventrointermedialis (VIM) nucleus of the thalamus, the subthalamic nucleus (STN), and the globus pallidus pars interna (GPi). DBS surgery is conducted on individuals who have had Parkinson's disease for at least four years and are taking drugs, although with motor problems.

Although there are alternative surgical treatments such as Thalamotomy and Pallidotomy, DBS is the recommended choice since it does not entail tissue damage and is a reversible surgical procedure. The electrodes are in charge of creating electric impulses and assisting in managing chemical imbalances in the brain. Such impulses are efficiently regulated by a neurostimulator and battery placed in the patient's chest. DBS treats people with Parkinson's disease, essential tremor, dystonia, epilepsy, and other conditions.

Request Sample Copy of this Report: https://www.marketstatsville.com/request-sample/deep-brain-stimulation-devices-market

Global Deep Brain Stimulation Devices Market Definition

The growing older population, which increases the risk and incidence of neurological illnesses, increased demand for the devices as minimally invasive treatments become more popular, and the availability of advanced deep brain stimulation technologies are the primary drivers driving the market's expansion. The rising number of patients suffering from involuntary movements caused by Parkinson's disease, dystonia, and multiple sclerosis is predicted to fuel market expansion. Furthermore, a significant market driver is a rising demand for less invasive procedures due to improved patient outcomes.

COVID-19 Impact on the Global Deep Brain Stimulation Devices Market

The COVID-19 pandemic has negatively influenced the market by directly hurting demand and production, disrupting the supply chain, and raising the financial burden on enterprises. Brain procedures have frequently been postponed or canceled during this interval to minimize coronavirus transmission. Neurosurgical operations plummeted by 55% in the worst-affected countries, including the United States, Russia, India, Brazil, France, the United Kingdom, Italy, and Spain.

Manufacturers have found it difficult to service their surgeon clients since certain hospitals have limited or modified access requirements. As a result, they foresee a fall in procedural volumes in 2020, stifling market growth. However, expanded worldwide tele-consultancy operations for follow-up and routine check-ups to address the symptoms of Parkinson's disease patients during the pandemic are playing an important role in enhancing market growth. As a result, such developments are projected to influence DBS adoption in the next years considerably.

Global Deep Brain Stimulation Devices Market Dynamics

Drivers: Severe adverse effects and medication interactions due to drug absorption by non-targeted locations

Demand for DBS devices is expected to be driven by severe adverse effects and pharmaceutical combinations caused by drug absorption in non-targeted areas. These drugs can greatly improve motor function but can also have negative effects, especially as the condition progresses. Long-term use of the medication levodopa, for example, can result in hallucinations, dyskinesia, neurotoxic effects, and severe metabolic abnormalities. As a result of such negative effects, physicians are increasingly resorting to specialist treatment alternatives, such as deep brain stimulators. As a result, market growth will accelerate over the forecast period.

Restraints: Excise duties on medical device

Excise taxes on medical devices are expected to hinder the Global Deep Brain Stimulation Devices Market for Parkinson's disease. The Affordable Care Act in the United States imposes a 2.3 percent excise tax on medical equipment importers and manufacturers. Due to this trend, patients who need deep brain stimulation devices for Parkinson's disease have noticed increased costs. Deep brain stimulation is also only utilized in the most refractory patients and conditions, generally in conjunction with skilled multidisciplinary therapy and clinical research, which is expected to restrict the market growth.

Opportunities: Adoption of new technological in manufacturing DBS Devices

Deep brain stimulation technologies are gaining popularity as technology grows. Among the technological advancements are robot-assisted insertion, rechargeable implanted pulse generators, better microelectrode designs, multi-target stimulation, and personalized directed programming. As a result of these advancements, DBS devices display fewer side effects, greater effectiveness, and symptomatic relief in Parkinson's patients compared to prior approaches. The growing senior population is also driving market growth in the coming years since older individuals are more vulnerable to illnesses including Parkinson's and Alzheimer's.

Scope of the Global Deep Brain Stimulation Devices Market

The study categorizes the deep brain stimulation devices market based on product, application, and end-use at regional and global levels.

Direct Purchase Report: https://www.marketstatsville.com/buy-now/deep-brain-stimulation-devices-market?opt=2950

By Product Outlook (Sales, USD Million, 2017-2030)

Single Channel
Dual Channel

By Application Outlook (Sales, USD Million, 2017-2030)

Pain Management
Epilepsy
Essential Tremor
Obsessive Compulsive Disorder (OCD)
Depression
Dystonia
Parkinson’s Disease
Others

By End Use Outlook (Sales, USD Million, 2017-2030)

Hospitals
Neurology Clinics
Ambulatory Surgical Centers
Research Centers

By Region Outlook (Sales, USD Million, 2017-2030)

North America
- US
- Canada
- Mexico
Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
South America
- Brazil
- Argentina
- Colombia
- Rest of South America
The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA

Access full Report Description, TOC, Table of Figure, Chart, etc: https://www.marketstatsville.com/table-of-content/deep-brain-stimulation-devices-market

Hospital segment accounts for the largest market share by end-use

Based on the end-use, the deep brain stimulation devices market is divided into hospitals, neurology clinics, ambulatory surgical centers, and research centers. The hospital segment dominated the market for deep brain stimulation devices due to a growth in the number of hospitals around the world. A professional neurologist, who may be found at specialized facilities, can also diagnose and treat neurological issues utilizing modern technology. Thus, the hospital segment of the global deep brain stimulation devices market is thriving.

North America accounts for the largest market share by Region

Based on the regions, the global deep brain stimulation devices market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Due to the increased approvals by FDA for deep brain stimulation devices in clinical applications, North America dominated the global market for these devices in 2021. For instance, the FDA in the United States authorized Brio, a deep brain stimulation device, in 2015 for the treatment of Parkinson's disease. Furthermore, an increasing number of people identified with Parkinson's disease, along with increased government financing and attempts to raise awareness about movement disorders, is likely to fuel demand for deep brain stimulation devices in the region.

As a result, such market trends are likely to assist North America in dominating the overall market.

Request For Report Description: https://www.marketstatsville.com/deep-brain-stimulation-devices-market

Key Market Players in the Global Deep Brain Stimulation Devices Market

The global deep brain stimulation devices market is highly competitive, with key industry players adopting strategies such as partnerships, acquisitions, product development, agreements, and expansion to strengthen their market positions. Most companies in the market are indulged in expanding business across regions, enhancing their capabilities, and molding strong partner relations.

Major players in the global deep brain stimulation devices market are: