Transparency Market Research, in its latest report, estimates that the global deep brain stimulation devices market for Parkinson’s disease, which was worth $4.5 billion in 2012, will grow to $9.4 billion by 2019, at a CAGR of 11%. The report, titled ‘Deep Brain Stimulation Devices Market for Parkinson’s Disease (North America, Europe, Asia-Pacific and Latin America) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019’, analyses the worldwide market and its various segments, while providing razor-sharp insights into what drives the industry.
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Parkinson’s disease is the second-most progressive and persistent degenerative disorder of the central nervous system and can be treated by therapies such as stem cell therapy, chemotherapy, surgical treatment, and physical therapy. There are multiple drug therapies that can help treat PD: levodopa/Carbidopa therapy, anti-cholinergic, dopamine agonists, Catechol-O-Methyltransferase (COMT) inhibitors, and MAO-B inhibitors. Deep brain stimulation (DBS) is a surgical intervention that is performed in advanced stages of PD. The research report tracks various technological advancements, trends, innovations, and forces that have impacted the global deep brain stimulation devices market for Parkinson’s disease.
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There has been a significant rise in the number of PD cases worldwide, along with an increase in ageing population that has aided the growth of the market. In the U.S. alone, there are over one million people suffering from PD and nearly 60,000 Americans are diagnosed with the disorder every year. A growing number of patients are opting for DBS surgical therapy due to the fact that side-effects of medical therapy are greater compared to DBS and are comparatively ineffective. Demand for minimally invasive surgeries has been on the rise and favorable reimbursement policies are expected to spur the growth of the market.
In contrast, the element of risk involved in DBS procedures and enforcement of the Affordable Care Act in the U.S. are factors that will inhibit the deep brain stimulation devices market for Parkinson’s disease market.
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The four main regions covered in the report are North America, Asia-Pacific, Europe, and Latin America. Valued at over $2 billion in 2012, North America enjoys the largest market share, followed by Europe, Latin America, and Asia-Pacific. The reason Asia-Pacific lags behind other regional markets is overpriced surgical treatment coupled with stringent government insurance policies.
The companies active in the global deep brain stimulation devices market for Parkinson’s disease include St. Jude Medical, Inc., Boston Scientific Corporation, Medtronic, Inc., Sapiens Neuro, ANM Adaptive Neuromodulation GmbH, Aleva Neurotherapeutics SA, Neurospace, and Synaptix, Neurosigma, Inc.