BANGALORE, India, March 1, 2021 /PRNewswire/ -- Deep Brain Stimulation Devices Market is Segmented by Application (Parkinson's Disease, Epilepsy, Essential Tremor, Dystonia, Obsessive Compulsive Disorder, and Others) and End User (Hospitals, Ambulatory Surgical Centers, Neurological Clinics, and Others): Opportunity Analysis and Industry Forecast, 2019–2026. This report is published on Valuates Reports in the Health Category.
The global Deep Brain Stimulation Devices Market was valued at USD 881.9 Million in 2018 and is projected to reach USD 2,802.6 Million by 2026, registering a CAGR of 15.5%.
Major factors driving the growth of deep brain stimulation devices market size are a rise in prevalence of lifestyle diseases such as depression and chronic pain, increased neurological disorders, and investment for neurological R&D. In addition, growing demand for minimally invasive surgery, acceptance of technologically advanced products, and rise in the aging population also propels the deep brain stimulation devices market growth.
TRENDS INFLUENCING THE DEEP BRAIN STIMULATION DEVICE MARKET SIZE
The potential benefits of deep brain stimulation devices, such as long-term effectiveness and improved postoperative outcome management, are expected to drive the growth of deep brain stimulation device market size. These advances help clinical researchers use deep brain stimulation systems in the treatment of other neurological conditions in investigational efficacy trials.
Large patient pool suffering from Parkinson's disease, epilepsy, dystonia, and depression due to the growing geriatric population is expected to drive the growth of deep brain stimulation device market size. Deep brain stimulation devices are one of the safest and most effective devices used in surgical procedures.
DEEP BRAIN STIMULATION DEVICE MARKET SHARE ANALYSIS
Due to higher acceptance in surgical procedures, the dual-channel deep brain stimulation segment is expected to hold the largest deep brain stimulation device market share. One of the safest and most powerful instruments used in surgical procedures is dual deep brain stimulation devices. Therefore, the growth of the market is driven by a growing number of surgical procedures for Parkinson's disease, the prevalence of debilitating neurological disorders, and an increasing number of hospitals using dual-channel deep brain stimulation devices.
The hospital segment is expected to hold the largest deep brain stimulation market share based on end-user during the forecast period. This is due to the use of technologically advanced deep brain stimulation devices in operation theaters and intensive care units, the increasing number of deep brain stimulation surgeries, and the rising prevalence of PD.
North America is expected to hold the largest deep brain stimulation market share based on the region during the forecast period. North America's dominance is attributed to the higher number of R&D activities, presence of skilled technicians, and wide availability of technologically advanced deep brain stimulation devices. In addition, the rise in the prevalence of different neurological disorders is another factor that is boosting the region's demand for deep brain stimulation devices.
On the other hand, Asia-Pacific is expected to record the highest growth during the forecast period due to an increase in healthcare expenditure and an increase in the prevalence of different neurological disorders, such as epilepsy and others.
Abbott Laboratories, Aleva Neurotherapeutics SA, Boston Scientific Corporation, Functional Neuromodulation Ltd., Beijing PINS Medical Co., Ltd., Medtronic plc, NeuroPace Inc., Nevro Corporation, and Neuronetics Inc.
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SIMILAR REPORTS :
- Deep Brain Stimulation System Market by Product Type - Subthalamic DBS, Globus pallidus DBS, Thalamic DBS, Pedunculopontine nucleus DBS, Application - Parkinson's disease, Chronic pain, Depression, Obsessive-Compulsive Disorder, Tourette syndrome, Tremor, Others, by key players , by Regions: North America, Europe, China and Japan, etc.
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