Deep Brain Stimulation Devices Market Analysis

Deep Brain Stimulation Devices Market Share

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Based on application, the Parkinson's disease (PD) segment is expected to foresee notable gains. The disease is a neurological disorder that causes difficulty in walking, shaking, stiffness, coordinating as well as balancing. Symptoms of Parkinson's typically appear gradually and worsen as time passes. People may have difficulty talking and walking as the disease progresses. The Parkinson's disease segment accounted for around 66.9% of the market share in 2021, and the trend will continue to build momentum in coming future owing to the rising number of cases.
 

According to the Parkinson’s Foundation, every year more than 10 million people worldwide are diagnosed with PD. Around one million individuals in the U.S. are living with Parkinson's disease, and this number is expected to rise to 1.2 million by 2030. Consequently, due to large population suffering from this disease, the demand for deep brain stimulation devices is also on the rise in the market.
 

 

With respect to end-use, the market is divided into hospitals, ambulatory surgical centers, and others. Among them, the hospitals segment accounted for over USD 906 million in 2021 owing to the rising prevalence of various neurological conditions that can be treated effectively by under-skilled healthcare professionals in hospital settings.
 

Similarly, availability of better treatment facilities and advanced deep brain stimulation devices is a key reason that is driving patients to seek neurological treatment at hospitals. Hospitals also employ the highest-quality of professional staff, including experienced and skilled neurologists, nurses, and technicians that collaborate to give patients the best surgical care in a pleasant environment that further secures the market progression.
 

 

North America deep brain stimulation devices market share is expected to grow at a 12.9% CAGR across the projected timeframe. Increasing occurrence of neurological disorders, high R&D expenditure, product approvals from the US Food and Drug Administration (FDA), and technological advancements are major factors that accelerate market progress in North America.
 

For instance, in 2021 researchers at the MIT (Massachusetts Institute of Technology) developed a method to stimulate deep cells in the brain using multiple electric fields. This method has been shown to selectively stimulate deep brain cells without affecting the activity of overlying structures. Such ongoing technological advancements in the deep brain stimulation devices market, along with other factors such as availability of advanced infrastructure across the region and favorable medical insurance policies, are proving beneficial to market.