Deep brain stimulation systems market 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
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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Market Drivers and Restraints:
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.
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. Hospitals 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.
The major players covered in the 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.
Major TOC Of The Report
Chapter One: Deep Brain Stimulation Systems Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Deep Brain Stimulation Systems Market Competition, by Players
Chapter Four: Global Deep Brain Stimulation Systems Market Size by Regions
Chapter Five: North America Deep Brain Stimulation Systems Market Revenue by Countries
Chapter Six: Europe Deep Brain Stimulation Systems Market Revenue by Countries
Chapter Seven: Asia-Pacific Deep Brain Stimulation Systems Market Revenue by Countries
Chapter Eight: South America Deep Brain Stimulation Systems Market Revenue by Countries
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Key Report Highlights
Comprehensive pricing analysis based on different product types and regional segments
Market size data in terms of revenue and sales volume
Deep insights about regulatory and investment scenarios of the global Deep Brain Stimulation Systems Market
Analysis of market effect factors and their impact on the forecast and outlook of the global Deep Brain Stimulation Systems Market
The detailed assessment of the vendor landscape and leading companies to help understand the level of competition in the global Deep Brain Stimulation Systems Market
A roadmap of growth opportunities available in the global Deep Brain Stimulation Systems Market with the identification of key factors
The exhaustive analysis of various trends of the global Deep Brain Stimulation Systems Market to help identify market developments
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Key Questions Answered in Report:
What is the key to the Deep Brain Stimulation Systems Market?
What will the Deep Brain Stimulation Systems Market Demand and what will be Growth?
What are the latest opportunities for Deep Brain Stimulation Systems Market in the future?
What are the strengths of the key players?
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