Global Deep brain stimulation devices market for Parkinsons disease was valued at USD 1.79 billion in 2013 and is expected to grow at a CAGR of 8.9% from 2014 to 2020, to reach an estimated value of USD 3.21 billion in 2020.
Albany, NY -- (SBWIRE) -- 07/28/2016 -- Technological advancement has also aided the growth of this market. Recently, a research team from the Tel Aviv University has been working on an advanced biometric computer chip implant known as Rehabilitation Nano Chip (ReNaChip) that would support healthcare professionals and neurosurgeons in restoring normal brain functions. The innovative ReNaChip would significantly enhance the existing technology known as DBS by delivering electrical stimulation to the appropriate brain area. In addition, companies such as Boston Scientific Corporation has recently introduced its flagship product named "Vercise DBS". This product is expected to enhance the battery life of the device by 25 years thus competing on pricing with replaceable battery providers for DBS that lasts just for 5 years. Furthermore, an independent unique MICC technology (Multiple Independent Current Control) has been incorporated in Vercise DBS system to control the side-effects of stimulation by controlling the current level at each individual contact on the lead.
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Growing pool of geriatric population is observed to be the major cause for the development of various neurological disorders such as Parkinson's disease (PD), Alzheimer's disease (AD), dystonia and others. Parkinson's disease is one of the most common chronic and progressive movement disorders that exhibit the cardinal symptoms of postural instability, bradykinesia, akinesia and tremors due to loss of dopamine producing neurons in substantia nigra of the mid-brain. The mean age of the onset of Parkinson's disease is 55 to 60 years. According to the Parkinson's Disease Foundation (PDF), approximately 10 million people are currently living with Parkinson's disease world over.
Deep brain stimulation devices market has been categorized on the basis of geography into four major regions, namely North America, Europe, Asia Pacific and Rest of the World (RoW). These geographical regions have been further segmented into major national markets that are located globally, such as, the U.S., Canada, the U.K., Germany, France, Italy, Spain, Japan, China, India, Australia and Brazil among others. Presently, there are multiple treatment options available across geographies to treat patients suffering from various neurological disorders. These include chemotherapy, stem cell therapy, physical therapy and surgical treatment. Most of these therapies are widely used treatment options for Parkinson's disease. Among drug therapies, the most potent medication is levodopa/carbidopa therapy. Other drugs used to treat PD are dopamine agonists, anti-cholinergic, MAO-B inhibitors and catechol-O-methyl transferase (COMT) inhibitors.
However, after long term chemotherapy treatment, the drugs lose their effectiveness. In the advanced stages of Parkinson's disease, surgical intervention becomes imperative. Presently, surgical interventions that utilize deep brain stimulation (DBS) devices are considered to be highly effective and safer treatment option as compared to other brain surgeries such as thalamotomy, pallidotomy and subthalamotomy. Global market for DBS devices market for treating Parkinson's disease was valued at USD 1.79 billion in 2013. Among four major regions of the world, North America held the leadership position in terms of revenue with approximately 43.0% share of the global DBS devices market for PD in 2013.
Leading players such as Medtronic, Inc., St. Jude Medical, Inc. and Boston Scientific Corporation are continuously investing in R&D activities to increase the applicability of DBS devices in treating various movement disorders. Currently, the DBS procedure entails implantation of two leads for bilateral stimulation; however, research is currently being carried out to implant multiple lead array systems to stimulate various sites in brain. The three major players of this market i.e. Medtronic, Boston Scientific and St. Jude have created a strong entry barrier for new entrants, hence are dominating this market. However, few new entrants such as Aleva Neurotherapeutics SA, NeuroPace, Inc. and others are expected to launch their new DBS devices in coming years, which are currently under clinical trials for the treatment of Parkinson's disease.
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