27 Sep 2019
in Medical Devices
India’s deep brain stimulators market to grow at CAGR of 9.4% through 2028, says GlobalData
The Indian deep brain stimulators (DBS) market, which accounted for approximately 13.6% of the Asia-Pacific DBS market in 2018, is expected to grow at a compound annual growth rate (CAGR) of 9.4% through 2028, according to GlobalData, a leading 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 got 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 US FDA approval. These approvals will help companies to promote DBS aggressively in patients with AD in India.
Rohit Anand, Medical Devices Analyst at GlobalData, comments: “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 concludes: “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.”