Brain Stimulators Market: Rise in incidence of neurological disorders is expected to drive the market
Brain stimulation therapy is a procedure to treat certain mental disorders. Brain stimulation therapies involve activating or inhibiting brain activity directly with electricity. Electricity is provided directly by invasive or non-invasive brain stimulators placed on the scalp. Brain stimulators investigate the effects of electricity on basic processes such as gene expression and other aspects of molecular biology, neurochemical regulation, functional brain activity, sensorimotor function, and cognitive and affective processes. The stimulation technique uses a probe to outline patterns of neural connectivity in the brain and provides the information of brain activity in the form of graphs. The functioning of brain stimulators depends on battery powered adapter for the display of output on the patient monitor. Moreover, the system incorporates visual indicators of performance in order to provide the physicians an optimal performance. However, new developments in computer technology and rapidly growing cranial stimulation technique allows the scientific community to focus on the best practice within the medical industry, which is paving the way for early diagnosis and treatment of mental diseases.
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The global brain stimulators market is driven by rapid development in technology, funding for digital health companies, rise in incidence of neurological disorders, increase in government support for research & development, and adverse effects of present diagnostic & drug therapies. According to the U.S. Food and Drug Administration, deep brain stimulators were approved for treatment of movement disorders such as essential tremor, Parkinson's disease and dystonia, and recently, obsessive-compulsive disorder. Rise in prevalence of Parkinson's disease, epilepsy, dystonia, and other chronic pain is expected to drive the global brain stimulators market. However, long approval time, high cost of research & development and devices, and lack of awareness are factors expected to restrain the global brain stimulators market during the forecast period.
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The global brain stimulators market can be segmented based on product type, end-user, application, and region. In terms of product type, the market can be classified into transcranial magnetic stimulators, electroconvulsive therapy stimulators, deep brain stimulators, and others. Based on application, the global brain stimulators market can be categorized into Parkinson’s disease, essential tremor, dystonia, and others. In December 2017, Boston Scientific Corporation received the U.S. Food and Drug Administration (FDA) approval for the sale of Vercise Deep Brain Stimulation (DBS) System to treat the symptoms of Parkinson’s disease (PD), a degenerative condition that affects more than one million people in the U.S. and 10 million globally. Hence, deep brain stimulators as an invasive device will be more prominently used in the near future. In terms of end-user, the market can be divided into diagnostic laboratories, clinics, hospitals, and others.
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Geographically, the global brain stimulators market can be segmented into North America, Europe, Asia Pacific, and Rest of the World. North America dominated the global market due to advanced technology used in medical devices, increase in incidence of mental illnesses among the geriatric population, significant awareness, and high per capita health care expenditure. Early-phase diagnosis, treatment of disease, and after surgery effects drive the biotechnology and medical device market which in turn is expected to propel the brain stimulators market in North America. Europe was the second largest market for brain stimulators due to favorable government policies regarding health care infrastructure, high incidence of brain diseases due to environmental conditions, and awareness programs about different types of brain disorders. The market in Asia Pacific is likely to grow at a rapid pace due to increase in the geriatric population, rise in awareness among people, and increase in per capita expenditure. Additionally, economic growth supports improvement in health care infrastructure in developing countries such as India, China, Brazil, and South Africa. Hence, these factors are expected to contribute to the growth of the brain stimulators market in Asia Pacific and Rest of the World.
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Major players operating in the global brain stimulators market include Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Aleva Neurotherapeutics SA, Deep Brain Innovations, LLC, and SceneRay.
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