Global "Deep
Brain Stimulators (DBS) Market" 2020
Industry research report covers the industry overview with Marketplace Size,
Share, Development, futuristic cost, earnings, demand and distribution data. Its
vast repository offers an analytical summary of the marketplace that can help
to the new and existing player to take a significant decision.
In this report, we
thoroughly examine and analyse the Global market for Deep Brain Stimulators
(DBS) so that market participants can improve their business strategy and
ensure long-term success. This report provides players with useful information
and suggests result-based ideas to give them a competitive advantage in the
global Deep Brain Stimulators (DBS) industry. It will show how other players
compete in the global Deep Brain Stimulators (DBS) Market and explain the
strategies you use to differentiate yourself from other participants.
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Industry Insights
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.
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.
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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