As per the published report, the global deep brain stimulation devices market size is estimated to arrive at USD 2.3 billion by 2028. It is projected to develop by 9.3% CAGR from 2021 to 2028.
Presentation of the technologically sophisticated products, rising knowledge regarding the product and increase in prevalence of neurological complaints, are some of the factors credited to the enlargement of the market for deep brain stimulation devices.
The globally rising occurrences of neurological complaints like depression, Parkinson's disease and epilepsy is expected to completely influence the expansion of the market.
For example, consistent with Depression and Bipolar Support Alliance, in the U.S, approximately 17.3 million adults are affected by major depressive ailment. Therefore, huge number of populace stricken by such circumstances and illnesses is anticipated to increase development of the deep brain stimulation (DBS) devices market, throughout the forecast period.
Prospective paybacks of deep brain stimulation devices like enhanced postoperative results and continuing benefits are expected to power the enlargement of the market. Moreover, these developments assist clinical researchers in the analysis of effectiveness for the addition of deep brain stimulation devices, in the remedy of additional neurological complaints. These features are anticipated to increase the demand for deep brain stimulation devices, during the forecast period.
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Further key findings from the report suggest:
• Due to the growth in alertness, concerning the treatments within the region, greater occurrences of psychological ailments, and the availability of extremely trained medical doctors, North America held major 51.9% revenue share and dominated the global market, in 2020
• As a result of globally increasing incidences of the sickness, the Parkinson’s disease section held 65.2% share on the basis of application, and led the market in 2020. In line with UCB statement, in Canada, approximately 100,000 people are suffering with Parkinson’s disease, at present, and above 6,600 fresh cases are identified every year.
• Hospitals held the major 52.0% revenue share and ruled the market in 2020, in the end use section. This is accredited to the growth in the incidences of neurological complaints and enlargement in the figure of deep brain stimulation surgical treatments, carried out in hospitals
• By means of the 57.2% share the dual channel segment dominated the market in 2020, on the basis of product. Rising acceptance of double-channel deep brain stimulation devices for the remedy of some neurological turmoil, like epilepsy, dystonia, Alzheimer’s, and Parkinson’s disease, are propelling the expansion of the section.
Million Insights segmented the global deep brain stimulation devices market based on End Use, Application, Product, and Region.
Deep Brain Stimulation Devices Product Outlook (Revenue, USD Million, 2016 - 2028)
• Single Channel
• Dual Channel
Deep Brain Stimulation Devices Application Outlook (Revenue, USD Million, 2016 - 2028)
• Pain Management
• Essential Tremor
• Obsessive-compulsive Disorder (OCD)
• Parkinson’s Disease
Deep Brain Stimulation Devices End-use (Revenue, USD Million, 2016 - 2028)
• Neurology Clinics
• Ambulatory Surgical Centers
• Research Centers
Deep Brain Stimulation Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• Asia Pacific
• South Korea
• Latin America
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
Various companies for deep brain stimulation devices market are:
• LivaNova PLC
• Aleva Neurotherapeutics S.A.
• Neuropace Inc.
• Boston Scientific Corporation
• Abbott (St. Jude Medical)