Deep Brain Stimulation Market: 10.59% CAGR, Worth $906B by 2020
PUNE, India, April 28, 2016 /PRNewswire/ --
The 2016 global DBS report segments the deep brain stimulation market by application and divides into four broad segments covering Parkinson's Disease, Dystonia, Obsessive-Compulsive Disorder and Epilepsy. Increasing prevalence of neurological disorders is one of the critical factors driving the growth of this (DBS) deep brain stimulation market globally.
Complete report on deep brain stimulation market spread across 61 pages, analyzing 3 major companies and providing 36 data exhibits is now available at http://www.sandlerresearch.org/pressrelease/global-deep-brain-stimulation-market-2016-2020.html.
In this industry research report, the analysts have estimated factors such as the emergence of hybrid neuroprosthetic devices will contribute to the growth of the deep brain stimulation market until the end of 2020. Manufacturers are increasingly focusing on combining neuroprosthetic technologies with pharmacological and electrical neuromodulation therapies for the brain, brainstem, and spinal cord to improve the recovery of motor functions. This device is known as a hybrid neuroprosthetic device which includes a catheter implanted in the brain tissue and a subcutaneously placed drug reservoir, which can be periodically refilled.
A micro-computer is fixed closer to these components, which analyzes the electrophysical data and controls the reservoir. This combination of two technologies can result in much efficient and effective treatment of neurological disease, thereby impelling deep brain stimulation market growth over the predicted period. With more than 450 million people worldwide affected by neurological disorders, such as Alzheimer disease, brain injuries, epilepsy, Parkinson's disease (PD), strokes, peripheral neuropathy, and paralysis, the deep brain stimulation market has a positive outlook in the coming years. For instance, PD is a progressive neurological disorder that affects the central nervous system resulting in muscle stiffness and slow movement. Although PD cannot be cured completely with medicines, DBS is preferred as it can be used to improve motor symptoms.
The analysts forecast global deep brain stimulation market to grow at a CAGR of 10.59% during the period 2016-2020.Most DBS systems have received CE mark in Europe and then received approval in the US. Frequent approvals by regulatory services boost the market growth. The rise in the number of products seeking approval may help the market grow at a rapid pace during the forecast period.
During 2015, PD dominated the global deep brain stimulation market and accounted for more than 76% of the market share. DBS system is implanted in patients whose PD symptoms like tremor, rigidity and stiffness cannot be treated with the help of medicines. In such cases, MRI scanning is done to identify the diseased area in the brain so the physicians can implant the electrodes that stimulate motor neuron. According to the Parkinson's disease Foundation, close to 10 million people have PD around the world which is expected to drive this market until the end of 2020.
Key players in the global deep brain stimulation market: Boston Scientific Corp., Medtronic plc, and St. Jude Medical Inc. Other prominent vendors in the market are: Adaptive Neuromodulation, Aleva Neurotherapeutics, Beijing Pins Medical, NeuroPace, and NeuroSigma. Order a copy of Global Deep Brain Stimulation Market 2016-2020 report @ http://www.sandlerresearch.org/purchase?rname=53663.
Another related report is Global Neurostimulation Devices Market 2015-2019, which forecasts the worldwide neurostimulation devices market to grow at a CAGR of 5.37% over the period 2014-2019. Available pharmacological treatment for conditions such as chronic pain, epilepsy, Parkinson's disease, and depression are not sufficient for all patients at all stages of treatment. More than 100 million people suffer from these conditions in the US alone. Though drug therapy, physiotherapy, and surgeries are effective treatment options, they are not suitable for all patients. Browse complete report @ http://www.sandlerresearch.org/global-neurostimulation-devices-market-2015-2019.html.
Explore other new reports on Medical Device Market @ http://www.sandlerresearch.org/market-research/medical-device.
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