FDA approval of deep brain stimulators for treatment-resistant depression will drive APAC market: GlobalData

The analytics company claimed that the Asia-Pacific DBS market is expected to grow at a compound annual growth rate (CAGR) of 8.2% through 2030. Within APAC, China accounted for the highest market share in 2021, followed by Japan and Australia.

FDA approval of deep brain stimulators for treatment-resistant depression will drive APAC market: GlobalData
Reportedly, the company aims for a year-on-year growth of 50-100 percent. (File)

GlobalData, a data and analytics company, said on Friday that as Abbott has recently received the US Food and Drug Administration’s nod to use its DBS device for treatment-resistant depression (TRD), it provides an opportunity for the company to expand the use of these devices and gain market share in the Asia-Pacific (APAC) region, where over one-fourth of the population is suffering from depression.

The analytics company claimed that the Asia-Pacific DBS market is expected to grow at a compound annual growth rate (CAGR) of 8.2% through 2030. Within APAC, China accounted for the highest market share in 2021, followed by Japan and Australia.

“Depression patients who fail to respond to the available medications have limited options. Abbott’s DBS device approval will give a ray of hope to patients suffering from TRD. Depression became more prevalent and widespread in the wake of the COVID-19 pandemic, affecting a very large population. Asian countries must prioritize the prevention and treatment of depressive disorders as cases are increasing significantly over the years,” Rohit Anand, Medical Devices Analyst at GlobalData said in a statement.

The company also stated that at the moment only a handful of pharmaceutical interventions are available. A significant number of patients do not respond to these therapies. Some of the other available treatment options such as vagus nerve stimulation (VNS) are approved for long-term treatment of chronic or recurrent depression but have limited efficacy, it stated.

“Patients with TRD will be greatly benefited as the approval of DBS will provide an alternative to physicians. The adoption of DBS to treat TRD will expand the DBS market by taking a share of VNS for the depression indication. However, the risk of infections during surgery and price will remain the key challenges,” Anand added.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos