SAN FRANCISCO, March 31, 2020 /PRNewswire/ -- The global deep brain stimulation devices market size is anticipated to reach USD 2.16 billion by 2027, expanding at a CAGR of 9.6% over the forecast period, according to a new report by Grand View Research, Inc. Increasing prevalence of neurological diseases, preference for targeted therapy, and technological advancements are driving the deep brain stimulation (DBS) devices market growth.
Key suggestions from the report:
- The dual channel product segment dominated the market in 2019 owing to new product launches by key players in the market
- Based on application, the Parkinson's disease segment dominated the market in 2019 owing to increasing prevalence of the disease worldwide and increasing number of FDA approvals for Deep Brain Stimulation therapies
- The hospital end-use segment held the largest share in the market owing to increasing prevalence of neurological disorders and favorable reimbursement policies
- North America dominated the DBS devices market with the highest revenue share in 2019 owing to rising prevalence of movement and psychiatric disorders, government initiatives, and increasing investment in R&D by the key players
- Some of the key players operating in the deep brain stimulation devices market are Medtronic, Abbott, Boston Scientific Corporation, and Aleva Neurotherapeutics SA.
Read 130 page research report with ToC on "Deep Brain Stimulation Devices Market Size, Share & Trends Analysis Report, By Product, By Application (Parkinson's Disease, Essential Tremor), By End Use, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/deep-brain-stimulators-dbs-market
According to the World Health Organization (WHO), around 50 million people are living with epilepsy globally. According to the Centers for Disease Control and Prevention (CDC), around 1.2% population of U.S. was suffering from epilepsy in 2015, which was around 3.4 million people including 470,000 children. In addition, according to the Shake It Up Australia Foundation, every 40 minutes, one Australian is diagnosed with Parkinson's disease. Increasing number of these neurological disorders is anticipated to further drive the market growth.
Technological advancements such as enhanced microelectrode designs, multi target stimulation, integrated implantable pulse generators, robot-assisted implantation, and individualized directed programming are expected to drive the market growth. Due to these advancements, deep brain stimulators have demonstrated greater efficacy and symptomatic relief in patients with movement disorders than conventional methods along with lesser adverse effects. According to a study by the U.S. National Library of Medicine, improved electrode design has increased the efficiency of deep brain stimulators by reducing the frequency of surgical replacements and has led to reduced adverse effects.
Grand View Research has segmented the global deep brain stimulation devices market based on product, application, end use and region:
- Deep Brain Stimulation Devices Product Outlook (Revenue, USD Million, 2016 - 2027)
- Deep Brain Stimulation Devices Application Outlook (Revenue, USD Million, 2016 - 2027)
- Deep Brain Stimulation Devices End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Deep Brain Stimulation Devices Regional Outlook (Revenue, USD Million, 2016 - 2027)
Find more research reports on Medical Devices Industry, by Grand View Research:
- Brain Mapping Instruments Market – The global brain mapping instruments market size was valued at USD 1.49 billion in 2018 and is anticipated to grow at a CAGR 5.8%.
- Brain Implants Market – The global brain implants market size was valued at USD 3.01 billion in 2016. Rising incidence of neurological disorders such as Parkinson's, Alzheimer's, epilepsy, depression, and essential tremors.
- Mechanical Ventilators Market – The global mechanical ventilators market size was valued at USD 4.30 billion in 2018 and is expected to record a CAGR of 6.6% during the forecast period.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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