Pune, June 19, 2020 (GLOBE NEWSWIRE) -- The global deep brain stimulation devices market size is expected to reach USD 1,676.8 million by 2026, exhibiting a CAGR of 11.6% during the forecast period. The growing prevalence of neurological disorders can be a crucial factor augmenting the growth of the market during the forecast period, states Fortune Business Insights, in a report, titled “Deep Brain Stimulation Devices Market Size, Share & Industry Analysis, By Product Type (Dual Channel Deep Brain stimulators, Single Channel Deep Brain Stimulators), By Application (Parkinson's Disease, Dystonia, Essential Tremor, Others), By End User (Hospitals, Specialty Clinics, Others) and Regional Forecast, 2019-2026” the market size stood at USD 696.4 million in 2018.
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The report deep brain stimulation devices market includes:
- Market drivers, latest industry trends and market restraints
- Strategies of companies and competitors
- Accurate data and current market figures
- Regional data in terms of revenue
An Overview of the Impact of COVID-19 on this Market:
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Market Driver:
Increased Minimally invasive surgeries to Bolster Growth
The market is primarily is driven by the increasing demand for minimally invasive surgeries among patients. The shift from traditional surgical techniques to minimally invasive procedures owing to its benefits, such as faster recovery time span, smaller incisions, reduced scarring, and pain will aid the expansion of the market. The growing cases of dystonia, Parkinson’s disease, and tremors will spur opportunities for the market during the forecast period. Moreover, the growing geriatric population can be an essential factor enabling the growth of the market.
As per the National Institutes of Health (NIH), 8.5 percent of people worldwide that is around 617 million people are aged 65 and over. Neurological diseases are commonly found in older people, which, in turn, will bolster the growth of the market. In addition, the increasing neurological disorders Parkinson’s disease, Alzheimer’s disease, Dystonia, and others in the aged population will subsequently encourage the growth of the market.
Regional Analysis:
Developed Healthcare Infrastructure to Foster Growth in North America
The market in North America is predicted to witness a significant growth rate during the forecast period. The growth in the region is attributed to developed healthcare infrastructure with advanced facilities. The increasing research and development activities by key players will propel healthy growth of the market in the region. The presence of major companies such as Medtronic, Abbott, Boston Scientific, and others will enable expansion of the market in the region. Asia Pacific is likely to rise tremendously during the forecast period owing to the increasing disposable income in countries such as Japan, China, and India.
The increasing healthcare expenditure will further promote the expansion of the market in the region. The growing awareness regarding various neurological conditions such as epilepsy, essential tremors, and Parkinson’s disorder will further encourage the growth of the market in the forthcoming years. The development of specialty clinics and multispecialty hospitals and others. In addition, the growing number of neurologists and medical professionals will further enhance the growth of the market in the region.
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Key Development:
- February 2019: Medtronic unveiled Deep Brain Stimulation (DBS) for medically-refractory epilepsy in the U.S.
- January 2019: Boston Scientific Corporation launched the Vercise Gevia and Vercise Primary Cell (PC) Deep Brain Stimulation (DBS) Systems featuring the Vercise Cartesia Directional Lead.
List of the Leading Companies in the DBS Devices Market:
- Abbott (ST. JUDE MEDICAL)
- Medtronic
- Boston Scientific Corporation
- Beijing PINS Medical Co., Ltd.
- Others
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Industry Background of Deep Brain Stimulation Devices Market
- New Product Launch
- Porter’s five forces analysis
- Key Merger and Acquisition Strategies by Top Players
- Overview on Technological Advancements Pertaining to the Deep Brain Stimulators
- Global Deep Brain Stimulation Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Dual Channel Deep Brain stimulators
- Single Channel Deep Brain Stimulators
- Market Analysis, Insights and Forecast – By Application
- Parkinson's Disease
- Dystonia
- Essential Tremor
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Country
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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