Deep Brain Stimulation (DBS) Systems Market was valued at USD 1227.5 million in 2019 and is expected to reach USD 2,122.8 million by 2027, at a CAGR of 8.1% according to a new report by Emergen Research. In general, geriatric population suffers from unconscious movements of the body leading to Parkinson’s disease, multiple sclerosis and dystonia. In the United States, more than 60,000 people are diagnosed with Parkinson’s disease each year, with approximately 10 million people presently living with Parkinson’s disease globally. High prevalence of such diseases among elderly coupled with rising geriatric population are fuelling up the demand for the deep brain stimulation systems worldwide. In addition, increasing incidences associated with depression, essential tremor and obsessive compulsive disorder (OCD) are further multiplying the demand of deep brain stimulation systems in the industry.
Minimally invasive surgical techniques play a substantial role in treating neurological symptoms like tremors, movement control and rigidity among other symptoms leading to Parkinson’s disease and dystonia. The systems directed in deep brain stimulation safeguards minimal damage to the surrounding brain tissues. Technologically advanced implanted systems have an ability to get recharged wirelessly without further surgical activities. Furthermore, epilepsy is currently affecting more than 50 million people across the world accounting for a substantial proportion of the entire world’s disease burden.
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The Deep Brain Stimulation Systems Market Report offers extensive knowledge and information about the Deep Brain Stimulation Systems market pertaining to market size, market share, growth influencing factors, opportunities, and current and emerging trends. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Deep Brain Stimulation Systems market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.
Some Key Highlights from the Report
- Dual channel deep brain stimulation systems product segment accounted for the largest market share of around 57.8%, owing to use of advanced technology and safety features like painless management and wireless recharge to reduce tremors associated with Parkinson’s disease
- Due to increase in occurrence unconscious body movements especially in the geriatric population across the globe, Parkinson’s disease application segment of the deep brain stimulation systems dominated the market with market share of approximately 39.7%
- Approximately, 930,000 people in total are expected to be suffering from the Parkinson’s disease in the United States by the end of 2020. Thus, the demand for deep brain stimulation systems is set to increase significantly in the coming years with advanced features to minimise the tremors accompanying the disease
- Abbott received expanded indication from the U.S FDA, in January 2020, for directional deep brain stimulation system to treat Parkinson’s disease. With this approval the associated product will treat effectively not just Parkinson’s disease but also essential tremor
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The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.
Key Players Profiled in the Report are:
Abbott, Medtronic, Aleva Neurotherapeutics, NeuroPace, Cyberonics, Boston Scientific Corporation and Fisher Wallace among other companies
Furthermore, the report provides a comprehensive overview of the Deep Brain Stimulation Systems market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Deep Brain Stimulation Systems market expected to boost the growth of the industry in the coming years.
Emergen Research have segmented Deep Brain Stimulation (DBS) Systems Market on the basis of product, application, end use and region:
Product Outlook (Revenue in Million USD; 2017–2027)
- Dual Channel
- Single Channel
Application Outlook (Revenue in Million USD; 2017–2027)
- Fluid Replacement
- Parkinson’s Disease
- Pain Management
- Obsessive-Compulsive Disorder (OCD)
- Epilepsy
- Essential Tremor
- Depression
- Dystonia
- Other
End Use Outlook (Revenue in Million USD; 2017–2027)
- Hospitals
- Ambulatory Care Centre
- Neurology Centers
- Others
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Key Questions Answered in the Report:
What is the growth rate of the Deep Brain Stimulation Systems market? What is the anticipated market valuation of Deep Brain Stimulation Systems industry by 2027?
What are the key growth driving and restraining factors of the Deep Brain Stimulation Systems market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Deep Brain Stimulation Systems industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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