Albany, NY -- (SBWIRE) -- 04/21/2018 -- Transparency Market Research (TMR) has published a new report, titled “Deep Brain Stimulation Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”.The report states that the global deep brain stimulation devices market for Parkinson’s disease will expand at a CAGR of 11.0% during the forecast period from 2013 to 2019. In 2012, the global deep brain stimulation devices market for Parkinson’s disease was worth US$4.5 bn and by 2019, it is projected to be worth US$9.4 bn.
According to The Parkinson’s Disease Foundation, there are around 10 million people around the world suffering from this condition and more than 1 million of these people are living in America. The global deep brain stimulation devices market for Parkinson’s disease is driven by the expanding geriatric population and the high prevalence of neurological conditions such as Alzheimer’s disease, dementia, and Parkinson’s disease.
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In addition to this, the global deep brain stimulation devices market for Parkinson’s disease will be driven by the rising demand for deep brain stimulation (DBS) devices due to the increasing popularity of minimally invasive procedures. DBS surgical therapy is currently the therapy of choice during the advanced stages of the Parkinson’s disease. On the other hand, chemotherapy is recommended generally during the early stages of the disease. Medical practitioners and patients are increasingly choosing DBS over drug therapy as the latter is considered to have several side effects. Furthermore, the efficacy of drug therapy cannot be gauged accurately.
Moreover, the favorable reimbursement scenario is also adding to the growing acceptance of these devices worldwide. The global deep brain stimulation devices market for Parkinson’s disease will also benefit from the rising availability of innovative deep brain stimulation devices.
On the other hand, the global deep brain stimulation devices market for Parkinson’s disease will be challenged by the risks associated with deep brain stimulation procedures. Furthermore, the implementation of certain policies from the government such as the Affordable Care Act in the U.S. will restrict the global deep brain stimulation devices market for Parkinson’s disease.
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Players in the global deep brain stimulation devices market for Parkinson’s disease will benefit from the opportunity provided by the high unmet needs in the emerging economies located in Asia Pacific and other regions. Regionlly, the global deep brain stimulation devices market for Parkinson’s disease is segmented into North America, Asia Pacific, Europe, and Rest of the World.
The global deep brain stimulation devices market for Parkinson’s disease is led by a handful of players. These include: Boston Scientific Corporation, Aleva Neurotherapeutics SA, St. Jude Medical, Inc., and Medtronic, Inc. The research study states that companies by focusing on improving public awareness regarding the disease, related consequences and treatment options can greatly benefit by expanding their reach. Furthermore, hiring CMOs for manufacturing deep brain stimulation devices will also help companies to boost their revenue. Another recommendation from the report is for companies to focus on enhanced product life and reducing prices of DBS devices to create better prospects.
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