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

By GlobalData Healthcare 29 Jan 2021 (Last Updated October 25th, 2021 13:58)

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

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

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

Each year, GlobalData estimates that approximately over 100,000 patients with Parkinson’s disease are classified as advanced, with almost 2% being treated with a DBS device. Prior to the ongoing COVID-19 pandemic, GlobalData estimated this to grow at approximately 7–8% over the next 10 years.

With over 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 the few leading manufacturers in this space. However, the neuromodulation market experienced one of the largest impacts from the COVID-19 pandemic, with leading manufacturers reporting a decline in sales of 40–50% during the peak in Q2 2020. The market saw a slow recovery in Q3 and Q4 2020 due to established COVID-19 protocols and the brief re-opening of services in Q3 2020. Abbott and Boston Scientific’s Q4 2020 earnings reports at the 39th Annual JP Morgan Healthcare conference 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.

GlobalData expects the neuromodulation market to continue to see advancements and the approvals of new devices. However, the ongoing pandemic and rising number of COVID-19 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 end of 2021 at the earliest, as vaccines will be continuously distributed throughout the year with the aim of limiting the rise in COVID-19 cases globally.

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