As per the report, the market for deep brain stimulation devices for Parkinson’s diseases will cross US$3.2 bn by the end of 2020. On the basis of geography, the market is led by North America and this is expected to continue for the rest of the forecast period. The region is expected to lead on account of the high demand for advanced devices, high population of aged people, and high disposable income of the people. There are several research and development activities which is undertaken by the government of the U.S. and this will boost the development of innovative drugs and devices. Europe is the second largest regional market for deep brain stimulation devices for Parkinson’s diseases. Asia Pacific will also be a lucrative regional market and is on the third position.
Rising Popularity of Minimally Invasive Procedures Fuelling Adoption of Brain Stimulation Devices
According to a market expert from TMR, “the growing popularity of minimally invasive procedures will drive the demand for deep brain stimulation devices for Parkinson’s Disease. Deep brain stimulation surgical therapy is currently gaining traction and has risen to a popular therapy of choice when the Parkinson’s disease in the patient is at its advanced stage. As drug therapy has many side effects, doctors and patients are increasingly opting for deep brain stimulation surgical therapies. In addition to this, the efficacy of drug therapy cannot be determined in terms of certainty. This is another factor which is driving doctors and patients to choose deep brain stimulation surgical therapy over drug therapy.
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Another factor which is aiding the growth of this market is the favourable reimbursement scenario across many parts of the world. Moreover, the growing acceptance of these devices on a wide scale will also bolster the demand for deep brain stimulator devices. Market players are also contributing to the growth of the market by putting their efforts towards research and development, which in turn is leading to the introduction of innovative and advanced devices.