Deep Brain Stimulation Devices Market Size By Application (Parkinsons Disease, Epilepsy, Essential Tremor, Obsessive-Compulsive Disorder, Dystonia, Pain Management, Others), By End-use (Hospitals, Ambulatory Surgical Centers, Others), Industry Analysis Re

Deep Brain Stimulation Devices Market Size By Application (Parkinsons Disease, Epilepsy, Essential Tremor, Obsessive-Compulsive Disorder, Dystonia, Pain Management, Others), By End-use (Hospitals, Ambulatory Surgical Centers, Others), Industry Analysis Report, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2030

The deep brain stimulation devices market is set to witness substantial growth through 2030 owing to increasing occurrences of neurological illnesses. In addition, surging demand for minimally invasive surgical procedures is also expected to spur market expansion over the forecast timeframe.

Notably, industry players have been adopting profitable strategies to improve their business presence, enhancing the overall dynamics of the deep brain stimulation devices market. For instance, in June 2021, Bioinduction Ltd., a leading provider of DBS platform solutions, announced the successful implantation of its DBS device in patients diagnosed with Parkinson’s disease.

Bioinduction is credited with developing the world’s first miniaturized DBS system, dubbed the Picostem. Picostem can be inserted directly into the skull, which makes it cosmetically invisible. This much smaller device eliminates the need for chest incision, extension leads, neck-tissue tunneling, and a pocket for the battery.

Recently, in June 2022, a team at the Allegheny Health Network, a U.S.-based healthcare firm, announced the launch of a pivotal pilot study on the use of DBS therapy as a potential treatment method for opioid addiction. The study was planned to involve three patients with refractory OUD (opioid use disorder).

Earlier, in January 2022, physicians at Allegheny Health Network joined a clinical trial to study the efficacy of DBS therapy in treating Alzheimer’s disease. The earlier phases of the trial have indicated that the treatment could considerably benefit patients with mild Alzheimer's by stabilizing and enhancing their cognitive functions.

In another instance, in June 2021, the Michael J. Fox Foundation presented a novel guide to assist patients with Parkinson’s disease in making informed decisions about opting for DBS (deep brain stimulation) as a treatment for the motor symptoms of the disorder.

The deep brain stimulation devices market has been divided in terms of end-user, application, and region.

On the basis of end-user, the market has been categorized into ambulatory surgical centers, hospitals, and others. In 2021, the hospitals segment was valued at around $906 million in revenue as hospitals are equipped with advanced deep brain stimulation devices, which improve patient outcomes and the quality of care.

On the basis of application, the deep brain stimulation devices market has been segmented into epilepsy, obsessive-compulsive disorder, dystonia, Parkinson’s disease, essential tremor, pain management, and others. Owing to mounting prevalence of neurological disorders across the globe, the obsessive-compulsive disorder segment garnered more than 2.9% market share in 2021.

On the regional front, the Latin America deep brain stimulation devices market is expected to register over 10.7% CAGR between 2022 and 2030 due to increasing number of elderly patients with neurological disorders in the LATAM region.