GlobalData11.08.19
The Indian deep brain stimulators (DBS) market, which accounted for approximately 13.6 percent of the Asia-Pacific DBS market in 2018, is expected to grow at a compound annual growth rate (CAGR) of 9.4 percent through 2028, according to GlobalData, a data and analytics company.
In India, DBS are currently used for the treatment of advanced neurological diseases such as Parkinson's, tremors, dystonia, and epilepsy that cannot be adequately treated with currently available medications.
The company’s report, "Neuromodulation Devices - Neurology Market Analysis and Forecast Model," reveals that rise in the prevalence of neurological conditions impacting the aging population is the major driver of the DBS market in India.
In 2017, Functional Neuromodulation Ltd. was granted European CE mark approval for its DBS devices for the treatment of Alzheimer’s disease (AD). The company has initiated clinical studies to access DBS in patients with mild AD to get U.S. Food and Drug Administration (FDA) approval. These approvals will help companies to promote DBS aggressively in patients with AD in India.
Rohit Anand, a medical devices analyst at GlobalData, commented: “The prevalent cases of Alzheimer’s Disease (AD) in India are expected to double in the next decade. Currently, only a handful of pharmaceutical interventions are available to provide symptomatic relief but none of the therapies can stop the progression of AD effectively and some of the drugs have considerable side effects.”
The lack of efficacy led to the exploration of alternative treatments and DBS has been explored as a potential treatment option for patients with AD.
Anand concluded: “Patients with AD will be greatly benefited if a deep brain stimulator gets FDA approval as this will further encourage Indian practitioners to use this device in patients with AD. Adoption of DBS to treat AD will further fuel the growth of DBS market in India. However, awareness of the devices for the treatment of AD and price sensitivity will remain a challenge.”
Four thousand of the world’s largest companies, including over 70 percent of FTSE 100 and 60 percent of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and solutions, all in one platform. GlobalData’s mission is to help clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.
In India, DBS are currently used for the treatment of advanced neurological diseases such as Parkinson's, tremors, dystonia, and epilepsy that cannot be adequately treated with currently available medications.
The company’s report, "Neuromodulation Devices - Neurology Market Analysis and Forecast Model," reveals that rise in the prevalence of neurological conditions impacting the aging population is the major driver of the DBS market in India.
In 2017, Functional Neuromodulation Ltd. was granted European CE mark approval for its DBS devices for the treatment of Alzheimer’s disease (AD). The company has initiated clinical studies to access DBS in patients with mild AD to get U.S. Food and Drug Administration (FDA) approval. These approvals will help companies to promote DBS aggressively in patients with AD in India.
Rohit Anand, a medical devices analyst at GlobalData, commented: “The prevalent cases of Alzheimer’s Disease (AD) in India are expected to double in the next decade. Currently, only a handful of pharmaceutical interventions are available to provide symptomatic relief but none of the therapies can stop the progression of AD effectively and some of the drugs have considerable side effects.”
The lack of efficacy led to the exploration of alternative treatments and DBS has been explored as a potential treatment option for patients with AD.
Anand concluded: “Patients with AD will be greatly benefited if a deep brain stimulator gets FDA approval as this will further encourage Indian practitioners to use this device in patients with AD. Adoption of DBS to treat AD will further fuel the growth of DBS market in India. However, awareness of the devices for the treatment of AD and price sensitivity will remain a challenge.”
Four thousand of the world’s largest companies, including over 70 percent of FTSE 100 and 60 percent of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and solutions, all in one platform. GlobalData’s mission is to help clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.
