15 Nov 2018 - 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.
Rise in the geriatric population base, which is more susceptible to neurological disorders is also a high impact growth rendering driver. Also, coupled with advent of innovative and cost efficient technology for management of neurological disorders and chronic pain is expected to boost the growth potential throughout the forecast period. The advent of technologically advanced and sophisticated products such as implantable pulse generator (IPG) and consistent increase in R&D activities are projected to further impel lucrative opportunities in future.
IPG helps in efficient stimulation and provides varied proportions of electric current in between leads which are multi polar. The efficacy can also be increased with the use of feedback signals which are computer based to reduce risk of side effects. According to a report by Parkinson’s disease Foundation, the risk of Parkinson’s increases with increase in age with the median age for the disease being 55 to 60.
Also, the high prevalence of target diseases has a significant impact on the growth on the DBS industry. The inadequate efficacy associated with oral therapeutics, for instance, dopamine and its associated adverse effects are the major causes for the surge in adoption of DBS.
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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.
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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.
Competitive Insights
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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Rise in the geriatric population base, which is more susceptible to neurological disorders is also a high impact growth rendering driver. Also, coupled with advent of innovative and cost efficient technology for management of neurological disorders and chronic pain is expected to boost the growth potential throughout the forecast period. The advent of technologically advanced and sophisticated products such as implantable pulse generator (IPG) and consistent increase in R&D activities are projected to further impel lucrative opportunities in future.
IPG helps in efficient stimulation and provides varied proportions of electric current in between leads which are multi polar. The efficacy can also be increased with the use of feedback signals which are computer based to reduce risk of side effects. According to a report by Parkinson’s disease Foundation, the risk of Parkinson’s increases with increase in age with the median age for the disease being 55 to 60.
Also, the high prevalence of target diseases has a significant impact on the growth on the DBS industry. The inadequate efficacy associated with oral therapeutics, for instance, dopamine and its associated adverse effects are the major causes for the surge in adoption of DBS.
Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/deep-brain-stimulators-dbs-market/request-sample
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.
Browse Full Research Report @ https://www.millioninsights.com/industry-reports/deep-brain-stimulators-dbs-market
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.
Competitive Insights
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.
See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/medical-devices
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