Product Code: RP-ID-10324692 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10324692
Market Overview:
Global Deep Brain Simulation Devices Market Size study, by Product (Single Channel Deep Brain Stimulator, Dual Channel Deep Brain Stimulator), by Application (Pain Management Epilepsy, Parkinson’s Disease, Essential Tremor, Others), by End-Use (Hospitals, Neurology Clinics, Ambulatory Surgical Centers, Research Centers) and Regional Forecasts 2019-2026
Global Deep Brain Simulation Devices Market is valued approximately at USD 0.9 billion in 2018 and is anticipated to grow with a growth rate of more than 9.5% over the forecast period 2020-2026. Deep brain simulation (DBS) is a surgical procedure used in the treatment of various neurological disorders such as debilitating motor symptoms of Parkinson's Disease (PD), essential tremor and dystonia. DBS therapy is generally advised to the patients who do not respond to medicines for five years. In this therapy, electrodes are inserted in particular areas of affected brain, which delivers electrical impulses that control abnormal impulses. Further, this treatment is permitted by the U.S. Food and Drug Administration (FDA), for patients who cannot have epilepsy surgery, that separates or eliminates the part of the brain that causes seizures. Rise in prevalence of neurological disease such as Parkinson, surging investment for neurological R&D, and escalating demand for minimally invasive techniques due to enhanced patient outcomes are the few factors responsible for high CAGR of the market over the forecast period. According to study of Global Burden of Disease 2015, it is estimated that the prevalence of Parkinson’s disease to be approximately 6.2 million people worldwide in 2015 and it would reach approximately 13 million people with Parkinson’s by 2040. Also, numerous Parkinson’s Disease Foundation reveals that approximately 60,000 Americans are diagnosed with Parkinson’s disease every year. This, in turn, is expected to accelerate the demand of deep brain simulation devices across the world. However, the availability of other treatment options such as drug therapies and surgeries and stringent regulatory framework are some major factors expected to impede the growth of global deep brain simulation devices market over the forecast period.
The regional analysis of global Deep Brain Simulation Devices Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing number of patients diagnosed with Parkinson, along with the wide availability of technologically advanced deep brain stimulation devices in the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period, due to rising prevalence of neurodegenerative disorders aided with unmet demand for effective and long-term solutions in the region.
Major market player included in this report are:
Medtronic plc
Boston Scientific Corporation
Abbott Laboratories
Aleva Neurotherapeutics SA
Functional Neuromodulation Ltd.
Beijing PINS Medical Co., Ltd.
NeuroPace, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Single Channel Deep Brain Stimulator
Dual Channel Deep Brain Stimulator
By Application:
Pain Management
Epilepsy
Parkinson’s Disease
Essential Tremor
Others
By End-Use:
Hospitals
Neurology Clinics
Ambulatory Surgical Centers
Research Centers
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Deep Brain Simulation Devices Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Boston Scientific Corporation
Abbott Laboratories
Aleva Neurotherapeutics SA
Functional Neuromodulation Ltd.
Beijing PINS Medical Co., Ltd.
NeuroPace, Inc.
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