Deep Brain Stimulation Systems Market to be Valued at USD 2,122.8 Million by 2027 | Industry Trend –Potential Investment Opportunities and Favorable Reimbursement Scenario is Expected to Fuel the Market
The global Deep Brain Stimulation (DBS) Systems Market size 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. Moreover, side effects linked with the surgery and associated drugs, high cost of treatment along with high cost of deep brain stimulation systems might restrict the industry growth in the forecast period.
Top Companies in Deep Brain Stimulation Systems Market are:
Medtronic, Abbott, NeuroPace, Cyberonics, Fisher Wallace, Aleva Neurotherapeutics, and Boston Scientific Corporation, among others.
Deep Brain Stimulation Systems Market Drivers During Forecast Period:
By Product Outlook Segment:
Dual Channel DBS systems sub-segment accounted for a substantial share of the industry, occupying a 57.8% share. The growth can be accredited to the increasing use of advanced technology and enhanced safety attributes, such as painless management and wireless recharge capability, to reduce tremors linked with Parkinson’s disease.
By Regional Outlook Segment:
North America led the industry with a sizeable market share in the DBS systems market attributable to the rising incidences of depression disorders, fast-paced product approvals from FDA, and favorable reimbursement policies.
Key Highlights from the Report:
- Rising occurrences of involuntary body movements, predominantly in the geriatric population across the globe, has boosted the growth of the Parkinson’s disease application sub-segment. The sub-segment is anticipated to dominate market growth, occupying a share of approximately 39.7% of the global market.
- By the end of 2020, nearly 930,000 people are expected to be diagnosed with PD in the United States. This, in turn, bolstering the demand for deep brain stimulation systems equipped with advanced features that minimize occurrences of tremors associated with PD.
- Escalating patient pool suffering from PD, dystonia, epilepsy, and depression, among other neurological conditions in countries, such as India and China, are boosting the market growth in the APAC region. The APAC region reported the highest CAGR of 9% in 2019 and is expected to exhibit lucrative growth in the coming period.
For the purpose of this report, Emergen Research has segmented the Global Deep Brain Stimulation (DBS) Systems Market on the basis of product, application, end-user, and region:
Product Outlook (Revenue, USD Million; 2017–2027)
- Single Channel
Application Outlook (Revenue, USD Million; 2017–2027)
- Parkinson’s disease
- Fluid Replacement
- Obsessive-Compulsive Disorder (OCD)
- Pain Management
- Essential Tremor
End-Use Outlook (Revenue, USD Million; 2017–2027)
- Ambulatory Care Centre
- Neurology Centers
Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- This study segments the Deep Brain Stimulation Systems market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Deep Brain Stimulation Systems sectors.
- This Deep Brain Stimulation Systems report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Deep Brain Stimulation Systems market.
Key features of the report:
- To study the key aspects impacting the Deep Brain Stimulation Systems market size.
- To identify growth prospects in the Deep Brain Stimulation Systems market.
- To analyze the Deep Brain Stimulation Systems market segments and deduce the dominant trends observed in the industry.
- To examine the Deep Brain Stimulation Systems market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Deep Brain Stimulation Systems market and highlight the growth of each application.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Deep Brain Stimulation Systems Market Segmentation & Impact Analysis
4.1. Deep Brain Stimulation Systems Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Explore Complete Table of Content@ https://www.emergenresearch.com/industry-report/deep-brain-stimulation-system-market
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