Boston Scientific Receives FDA Approval for Deep Brain Stimulation System Amid Slow-Recovering Neuromodulation Market

On January 25, Boston Scientific got FDA approval for its fourth generation Vercise Variety Deep Brain Stimulation (DBS) Market System used to treat symptoms in patients with advanced Parkinson's disease.

Each year, GlobalData estimates that approximately north of 100,000 patients with Parkinson's disease are classified as advanced, with almost 2% being treated with a DBS gadget. Before the ongoing Coronavirus pandemic, GlobalData estimated this to develop at approximately 7-8% over the course of the next 10 years.

With north of 100,000 potential patients in this indication, there is a large market opportunity for Boston Scientific to gain market share through the release of more advanced devices, especially since the company is one of only a handful of exceptional leading manufacturers in this space. Be that as it may, the neuromodulation market experienced one of the largest impacts from the Coronavirus pandemic, with leading manufacturers reporting a decline in sales of 40-half during the peak in Q2 2020. The market saw a sluggish recuperation in Q3 and Q4 2020 due to established Coronavirus protocols and the short re-opening of administrations in Q3 2020. Abbott and Boston Scientific's Q4 2020 earnings reports at the 39th Annual JP Morgan Healthcare gathering showed that there was still a decline in sales in this space, with Boston Scientific reporting a decline of 12% in Q4 2020 and an overall decline of 16% for FY2020.

For more Deep Brain Stimulators (DBS) pipeline products territory insights, download a free report sample

GlobalData expects the neuromodulation market to continue to see advancements and the approvals of new devices. Be that as it may, the ongoing pandemic and rising number of Coronavirus cases will make it extremely challenging for Boston Scientific and other companies to gain momentum on new product releases. GlobalData forecasts that the neuromodulation market will begin to see some growth near the finish of 2021 at the earliest, as vaccines will be continuously distributed throughout the year with the aim of limiting the ascent in Coronavirus cases globally.

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