Deep Brain Stimulation Devices Market
The increasing burden of disease and mortality has created medical urgency that has induced the urgency to incorporate long-term solutions, such as deep brain stimulators. These stimulators play a vital role in providing therapeutic solutions for various ailments, such as depression, epilepsy, etc. Furthermore, the technological advancements observed in deep brain stimulation devices have further shaped the deep brain stimulation devices market globally. The advancements include enhanced microelectrode designs, multi-target stimulation, robot-assisted implantation, integrated implantable pulse generators, MRI, and individualized directed programming. The advancements witnessed related to deep brain stimulation devices have enhanced the efficacy and reduced the adverse effects along with providing symptomatic relief to patients with movement disorders as compared to other conventional methods.
The prevalence of obesity-induced depression, anxiety, and stress globally is constantly rising. As per the National Institute of Mental Health (NIHM), in 2012, around 15 to 16 million adults in the U.S. went through major depressive episodes. Additionally, as per the WHO, more than 300 million adults globally suffer from depression. Furthermore, the growing cases of Parkinson’s disease along with the ambiguity of economic conditions faced by some developed economies, such as the U.S. and Europe, has forced the original equipment manufacturers to develop cost-effective devices for treating Parkinson’s disease. Additionally, the preference given by professionals to deep brain stimulation devices over drug therapies is likely to further boost the global deep brain stimulation devices market in the future. However, the risk of infection and high costs associated with the use of these devices might hinder the deep brain stimulation devices market on a global scale.
The global deep brain stimulation devices market is segmented on the basis of product, application, and battery type. By product type, the deep brain stimulation devices market is bifurcated into single channel and dual channel deep brain stimulators. The application segment of this market includes chronic pain, dystonia, essential tremor, depression, obsessive-compulsive disorder, epilepsy, Parkinson’s disease, and others (Alzheimer’s, tinnitus, etc.). By battery type, the global market includes rechargeable and non-rechargeable batteries.
By region, North America dominated the global deep brain stimulation devices market in 2018, owing to the high-quality standards maintained by the medical device manufacturers, increasing cases of Parkinson’s disease, high demand for advanced devices, increasing geriatric population, and rising disposable income of the regional population. Europe is the second largest deep brain stimulation devices market globally, due to the increasing investments made by key players for R&D and continuous innovation in medical technology. The Asia Pacific region is also expected to be a lucrative regional market in the future, owing to the growing prevalence of Alzheimer’s in China. Additionally, Thailand, India, Taiwan, and Singapore have proven to be major medical tourism destinations due to low surgery cost and the presence of highly efficient healthcare professionals.
Some leading players of the global deep brain stimulation devices market include Boston Scientific Corporation, Medtronic, Inc., Aleva Neurotherapeutics SA, and St. Jude Medical, Inc., among others.