Increasing Prevalence of Parkinson’s Disease and Approval and Launch of New Products to Augment Growth of Deep Brain Stimulation Devices Market

 

Deep brain stimulation is a non-invasive neurosurgical treatment involving the placement of an electronic device called a simulator that emits electronic pulses, into the brain. These pulses are delivered to the area where there is the greatest need for stimulation, in the area known as the cerebral cortex. The purpose of this treatment is to increase brain function and improve brain function. This treatment is often used in conjunction with other procedures and is also very successful when it is used alone.

Market Dynamics

Increasing prevalence of Parkinson’s disease is expected to propel growth of the global deep brain stimulation devices market. For instance, according to the study, ‘Prevalence of Parkinson’s disease (PD) across North America”, published in July 2018 in the journal Nature, the number of people suffering from PD is expected to reach 930,000 in 2020 and 1,238,000 in 2030.   

Increasing number of clinical trials for deep brain stimulation devices is expected to offer lucrative growth opportunities for players in the global deep brain stimulation devices market. For instance, in January 2021, Medtronic plc announced the first enrollment in ADAPT-PD, a trial evaluating the safety and efficacy of adaptive deep brain stimulation in patients with Parkinson's disease. Similarly, in October 2020, Keck Medicine of USC announced to enroll individuals in an international phase 3 clinical trial to examine the safety and effectiveness of deep brain stimulation to treat Alzheimer’s.

However, there are risks in adoption of deep brain stimulation devices such as cerebral hemorrhage, paralysis, stroke, speech impairment, and other complications, which are expected to hinder growth of the global deep brain stimulation devices market.

Competitive Landscape

Major players operating in the global deep brain stimulation devices market include, Boston Scientific Corporation, Medtronic, plc., St. Jude Medical, Inc. (Abbott Laboratories), Cyberonics, Inc., Neuronetics, and Aleva Neurotherapeutics SA.

Major players operating in the global deep brain stimulation devices market are focused on approval and launch of new products to expand their product portfolio. For instance, in June 2020, Medtronic Plc received the U.S. Food and Drug Administration (FDA) approval for its Percept PC Neurostimulator designed to allow for a more individualized use of deep brain stimulation therapy in people with Parkinson’s disease and related disorders. Similarly, in December 2019, Aleva Neurotherapeutics received CE Mark for its flagship product, the directSTIMTM Deep Brain Stimulation System.