Market Analysis and Insights: Global Deep Brain Stimulation Systems Market
Deep brain stimulation systems market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.5% in the forecast period of 2020 to 2027and expected to reach USD 1,954.35 million by 2027 from USD 1,017.57 million in 2019. Rising demand for early and accurate disease diagnosis is the factors for the market growth.
Deep brain stimulation systems is playing significant role to enable doctors to make appropriate clinical and diagnostic decisions across various levels of health care services. Increasing demand for diagnostic tests is augmenting the market growth as they are used for clinical diagnoses tests.
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Deep brain stimulation systems demand has been increased with rising cases of neurological disorders as compared to the past few years will accelerate the market growth. For instance, in January 2019, Abbott announced that they have received CE mark approval for their Bluetooth-enabled software upgrades to all currently installed Infinity DBS systems which deliver MR-conditional labelling and innovative features. After receiving CE mark approval, the company commercialize and expand their business in the market
High cost of deep brain stimulation devices and surgery will hamper the deep brain stimulation systems market as which further creates new opportunities for deep brain stimulation systems with growing advancement in novel technologies. Such technology support Deep Brain Stimulation Systems market growth in the forecast period to 2027.
This deep brain stimulation systems market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
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Global Deep Brain Stimulation Systems Market Scope and Market Size
Global Deep brain stimulation systems market is segmented on the basis of product type, application and type, end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of product type, the market is segmented into single-channel deep brain stimulator and dual-channel deep brain stimulator. Single-channel deep brain stimulator segment is dominating the market because single channel deep brain stimulators hold the highest market share as they have existed in the market before the dual channel models that accounts for high penetration. Moreover, single channel stimulators are highly preferred in treatment of Parkinson’s disease that adds to the overall share of these systems.
Rising cases of neurological disorders across the world is one of the prominent factors for growth of this market. Neurological disorders include various neurologic diseases which affect the brain and the autonomic and central nervous systems. There are more than 600 diseases of neurological disorders. Types of neurological disorders are including, Parkinson’s, Epilepsy, Essential Tremor, Tourette’s syndrome, among others.
According to the World Health Organization (WHO), worldwide, millions of people are affected by the neurological disorders. Each year more than 6 million people die due to stroke. Worldwide 50 million people have epilepsy disease. 80% of deaths due to the neurological disorders take place in low- and middle-income countries.
The deep brain stimulation surgery is used to treat a number of neurologic disorders diseases. In 1997, the Food and Drug Administration (FDA) approved the deep brain stimulation surgery for essential tremor; in 2002 and 2003, FDA approved deep brain stimulation surgery for the treatment of Parkinson’s disease and dystonia respectively
On the basis of application, the market is segmented into Parkinson’s disease, essential tremor, dystonia, epilepsy, obsessive-compulsive disorder. Parkinson’s disease segment is dominating in the market due to high volume of deep brain stimulator implantation. Deep brain stimulation (DBS) is the most commonly performed surgical treatment for the neurological disorder especially Parkinson’s disease. In addition, rising incidences of Parkinson disease across the globe is further fuelling the market growth during the forecast period. For instance, according to the American Association of Neurological Surgeons, in the U.S., it is estimated that each year 60,000 new cases of Parkinson’s disease are diagnosed.
On the basis of type, the market is segmented into rechargeable and non-rechargeable. In 2020, rechargeable segment is dominating in the market because these systems have high adoption than non-rechargeable systems due to their longevity. Moreover, these systems are usually smaller, lighter, and offer less discomfort as compared to the traditional ones.
On the basis of end user, the market is segmented into hospitals, ambulatory surgical centers (ASCs), and neurological clinic. Hospital’s segment is dominating in the market because hospital segment holds the highest market share as hospitals are the primary points for implantation of deep brain stimulation systems. It generally requires a stay of a day or more in a hospital. Moreover, as hospitals function round the clock and are generally equipped with extensive facilities, patients prefer these settings over others.
Deep Brain Stimulation Systems Market Country Level Analysis
Deep brain stimulation systems market is analysed and market size information is provided by country by product type, application, type, end user type as referenced above.
The countries covered in the deep brain stimulation systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific in the Asia-Pacific, South Africa, Rest of Middle East and Africa as a part of Middle East and Africa, Brazil and Rest of South America as part of South America.
Competitive Landscape and Deep Brain Stimulation Systems Market Share Analysis
Deep brain stimulation systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, concept cars, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to global Deep Brain Stimulation Systems market.
The major players covered in the report are
NeuroPace, Inc, Boston Scientific Corporation, Fisher Wallace, SceneRay Corporation, Limited, Beijing PINS Medical Co., Ltd, ALEVA NEUROTHERAPEUTICS SA, MEDTRONIC, and Abbott among other players domestic and global. Deep Brain Stimulation Systems market share data is available for Global, North America, Europe, Asia-Pacific, Middle East and Africa and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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