The global Deep Brain Stimulation (DBS) in Parkinson's Disease Market was valued at USD 2.3 billion in 2022. It is projected to reach USD 4.9 billion by 2032, with a forecasted revenue Compound Annual Growth Rate (CAGR) of 8.5%. The growth is primarily fueled by two major factors: the increasing aging population worldwide and the rising prevalence of Parkinson's disease.
Parkinson's disease affects millions of individuals globally, particularly in developed countries, and is a chronic, degenerative movement disorder. The market's revenue growth is expected to be driven by the growing prevalence of this disease and the limitations of existing treatment options.
DBS Parkinson's Disease is a neurosurgical procedure that involves the placement of electrodes in specific brain regions to regulate abnormal impulses and enhance motor functions in patients with Parkinson's. The market's revenue growth is supported by the rising demand for minimally invasive surgeries and advancements in DBS technology. Additionally, the precise placement of electrodes in the brain, made possible by innovative imaging techniques such as CT and MRI, contributes to the market's revenue growth.
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Major players in the global Deep Brain Stimulation Parkinson's Disease market include:
- Medtronic
- Boston Scientific Corporation
- Jude Medical
- Abbott Laboratories
- Aleva Neurotherapeutics
- Sapiens Neuro
- SceneRay Corporation
- Beijing PINS Medical Co. Ltd.
- Magstim
- Fisher Wallace
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Driving Factors of Deep Brain Stimulation (DBS) Parkinson's Disease Market:
- Increasing Prevalence of Parkinson's Disease: The rising incidence and prevalence of Parkinson's disease globally is a significant driver for the growth of the DBS market. As the number of patients with Parkinson's disease increases, the demand for effective treatments like DBS also grows.
- Aging Population: The aging population is more susceptible to developing Parkinson's disease, and as the global population continues to age, the number of patients requiring treatment options like DBS is expected to rise.
- Advancements in DBS Technology: Technological advancements in deep brain stimulation have led to improved devices, electrodes, and surgical techniques. These advancements enhance the effectiveness and safety of DBS procedures, attracting more patients and driving market growth.
- Minimally Invasive Surgeries: The growing preference for minimally invasive surgical procedures, including DBS, is driving market growth. Minimally invasive techniques offer shorter recovery times, reduced risks, and improved patient outcomes.
Restraints of Deep Brain Stimulation (DBS) Parkinson's Disease Market:
- High Cost of Treatment: Deep brain stimulation procedures can be expensive due to the cost of the device, surgery, hospitalization, and post-operative care. The high cost may limit access to DBS treatment for some patients, especially in developing regions.
- Adverse Effects and Risks: While DBS is generally considered safe and effective, there are still potential risks and adverse effects associated with the procedure. Concerns about these risks may deter some patients and physicians from opting for DBS as a treatment option.
- Limited Availability and Expertise: DBS procedures require specialized medical expertise, and not all healthcare facilities or regions may have access to qualified professionals and facilities for performing the surgery. This limitation can hinder the widespread adoption of DBS.
- Alternative Treatments: Some patients may opt for alternative treatments or continue with conventional medication, which could restrain the growth of the DBS market.
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