Deep Brain Stimulator Market Scope
Deep Brain Stimulator (DBS) is a neo-surgical device which is used to treat several disabling neurosurgical symptoms and implanting electrodes within certain areas of brain. In addition to this, it is most commonly used in the debilitating motor symptoms of various Parkinson’s disease including rigidity, stiffness, slowed movement, walking problems, tremor. Moreover, it is approved by U.S. Food and Drug Administrator to reduce seizures in difficult-to-treat epilepsy. As reported by American Associations of Neurological Surgeons, over 35,000 DBS implants took place worldwide which suggests that the applications for DBS therapy are expanding rapidly
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Billion) |
Key Companies Profiled | St. Jude Medical (United States), Boston Scientific (United States), Functional Neuromodulation (United States), Medtronic (United States), Aleva Neurotherapeutics (Switzerland), Cyberonics (United States), ElectroCore Medical (United States), EnteroMedics (United States), NeuroMetrix (United States), Abbott Laboratories (United States) and Aleva Neurotherapeutics SA (Switzerland) |
CAGR | 11.2% |
"According to AMA, the Global Deep Brain Stimulator market is expected to see growth rate of 11.2% and may see market size of USD2.3 Billion by 2028."The competitive landscape in the DBS market is expected to continue to intensify in the coming years, as new companies enter the market and existing companies develop new products. This will benefit patients and healthcare providers, as it will lead to more choice, lower prices, and better products. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Deep Brain Stimulator market throughout the predicted period.
St. Jude Medical (United States), Boston Scientific (United States), Functional Neuromodulation (United States), Medtronic (United States), Aleva Neurotherapeutics (Switzerland), Cyberonics (United States), ElectroCore Medical (United States), EnteroMedics (United States), NeuroMetrix (United States), Abbott Laboratories (United States) and Aleva Neurotherapeutics SA (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Deep Brain Innovations LLC (United States), Beijing Pins Medical Co. Ltd (China) and Sorin Group (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Deep Brain Stimulator market by Type , by Application (Chronic Pain, Dystonia, Essential Tremor, Depression, Obsessive-compulsive disorder, Epilepsy, Parkinsons Disease and Others) and Region with country level break-up.
On the basis of geography, the market of Deep Brain Stimulator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In August 2023, Medtronic and Roche entered into the partnership to develop DBS therapies for Alzheimer's disease. The collaboration brings together Medtronic's expertise in DBS technology with Roche's deep understanding of Alzheimer's disease biology and clinical research capabilities. The two companies have a strong track record of innovation, and they are well-positioned to develop new DBS therapies that could help millions of patients.
In January 2023, Abbott has launched Infinity DBS System which is designed to treat variety of neurological conditions. These system have advanced features, having smaller and powerful battery.
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Influencing Trend:
Growing preference for clinical trials and high R&D investments and Increasing robot-assisted implantations and integrated pulse generators
Market Growth Drivers:
Increase geriatric population and rapid rise in incidences of epilepsy globally and Soaring demand for home healthcare and rising healthcare expenditures Increasing incidence of Parkinson’s disease patients
Challenges:
High price of deep brain stimulator devices and Privacy issues related to the data gathered and shared by such devices and government regulations are the major challenges in the growth of the market
Restraints:
Lack of technical knowledge in underdeveloped economies and High cost of devices and risk of infection at the stimulator site
Opportunities:
Increasing treatment of Alzheimers disease and tinnitus, Technological advancements in deep brain stimulators and Expanding applications of deep brain stimulation