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Market Overview of Global Deep Brain Stimulation Devices market:
According to our latest research, the global Deep Brain Stimulation Devices market looks promising in the next 5 years. As of 2022, the global Deep Brain Stimulation Devices market was estimated at USD 1215.28 million, and it's anticipated to reach USD 2193.9 million in 2028, with a CAGR of 10.35% during the forecast years.
Deep brain stimulation (DBS) is an operation in which equipment is implanted, which sends electrical signals to the brain area responsible for body movement. Electrodes are placed deep in the brain and connected to stimulation devices. Similar to cardiac pacemakers, neurostimulators use electrical impulses to regulate brain activity. DBS can help alleviate the symptoms of tremor, slowness, stiffness and walking problems caused by Parkinson's disease, dystonia or essential tremor.
Impact of COVID-19 on the Industry
Since 2019, the sudden COVID-19 epidemic has swept the world, which has had a great impact on all walks of life. Closed management and more medical resources in many cities have affected the daily medical care of patients with Parkinson's Disease, Essential Tremor, Dystonia to varying degrees. During the epidemic, the number of operations decreased, and many hospitals chose conservative treatment and delayed treatment strategies. Under the influence of the epidemic, people pay more and more attention to life and health, and their awareness of treating diseases is constantly improving. Generally speaking, with the gradual recovery of the epidemic, R&D, production and demand will gradually recover, which has some impact on the development of the industry.
Increased competition
Medtronic competes with Abbott and Boston Scientific for the DBS market. All three companies have sought to improve their offerings in recent months, with Boston Scientific winning FDA approval for its fourth-generation Vercise Genus system in January and Abbott introducing its NeuroSphere Virtual Clinic in March. The competition among vendors will increase during the forecast period. Vendors will compete to deliver competitive advantages in the market on the basis of pricing, user-friendly interfaces, value-added benefits, and service portfolios. During the forecast period, we expect this competition to intensify with an increase in product extensions.
Active medical equipment policy
The government in a relatively stable political region has the ability to encourage the development of Deep Brain Stimulation Devices industry, and the United States has signed the latest expenditure agreement, announcing the formal abolition of the consumption tax on medical devices. China's medical device regulatory policy is more perfect. On August 26, 2019, China Food and Drug Administration issued the Rules of Unique Identification System for Medical Devices, aiming at implementing the Notice of the General Office of the State Council on Printing and Distributing the Reform Plan for the Treatment of High-value Medical Consumables and the Regulations on the Supervision and Administration of Medical Devices, further strengthening the supervision and management of the whole life cycle of medical devices, and innovating the supervision mode. Good political environment will promote the development of Deep Brain Stimulation Devices industry.
Region Overview:
In 2021, the share of the Deep Brain Stimulation Devices market in Asia Pacific stood at 44.06%.
Company Overview:
Medtronic is one of the major players operating in the Deep Brain Stimulation Devices market, holding a share of 63.49% in 2022.
Medtronic
Medtronic plc is an American-Irish registered medical device company that primarily operates in the United States. Medtronic has an operational and executive headquarters in Fridley, Minnesota in the US. Medtronic was founded in 1949 in Minneapolis by Earl Bakken and his brother-in-law, Palmer Hermundslie, as a medical equipment repair shop.
Boston Scientific
Boston Scientific Corporation, doing business as Boston Scientific, is a manufacturer of medical devices used in interventional medical specialties, including interventional radiology, interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology and gynecology.
Segmentation Overview:
As for product types, the Single-channel DBS segment held the largest market share in 2021.
Single-channel DBS
These devices provide stimulation to one DBS lead, treating a target in one hemisphere of the brain. For example, Medtronic Activa SC neurostimulator.
Dual Channel DBS
Dual channel DBS devices can provide bilateral stimulation. E.g. Medtronic Activa PC neurostimulator, Medtronic Activa RC neurostimulator.
Application Overview:
By application, the Parkinson's Disease segment occupied the biggest share from 2017 to 2022.
Parkinson's Disease
Tremor, rigidity, and slowness of movement caused by the death of dopamine-producing nerve cells responsible for relaying messages that control body movement.
Essential Tremor
Involuntary rhythmic tremors of the hands and arms, occurring both at rest and during purposeful movement. Also may affect the head in a "no-no" motion.
Dystonia
Involuntary movements and prolonged muscle contraction, resulting in twisting or writhing body motions, tremor, and abnormal posture. May involve the entire body, or only an isolated area.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Deep Brain Stimulation Devices market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Deep Brain Stimulation Devices Market Report:
Market Size Estimates: Deep Brain Stimulation Devices market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Deep Brain Stimulation Devices market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Deep Brain Stimulation Devices market
Segment Market Analysis: Deep Brain Stimulation Devices market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Deep Brain Stimulation Devices market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Deep Brain Stimulation Devices Market: Revenue and sales volume of major countries in each region
Deep Brain Stimulation Devices Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Deep Brain Stimulation Devices market in major regions.
Deep Brain Stimulation Devices Industry Value Chain: Deep Brain Stimulation Devices market raw materials & suppliers, manufacturing process, distributors, downstream customers
Deep Brain Stimulation Devices Industry News, Policies & Regulations
Key players in the global Deep Brain Stimulation Devices market are covered in Chapter 12:
Medtronic
Beijing Pins Medical
Boston Scientific
SceneRay
Abbott
In Chapter 2 and Chapter 15.1, based on types, the Deep Brain Stimulation Devices market from 2018 to 2028 is primarily split into:
Single-channel DBS
Dual Channel DBS
In Chapter 3 and Chapter 15.2, based on applications, the Deep Brain Stimulation Devices market from 2018 to 2028 covers:
Parkinson's Disease
Essential Tremor
Dystonia
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Deep Brain Stimulation Devices market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028