The global deep brain stimulation devices market size is expected to reach USD 1,676.8 million by 2026, exhibiting a CAGR of 11.6% during the forecast period. The growing awareness among the population concerning various neurological ailments will be a crucial factor in accelerating the deep brain stimulation (DBS) devices market revenue during the forecast period. In addition, the increasing cases of epilepsy around the world will fuel demand for deep brain stimulation devices in the forthcoming years.
According to the World Health Organization, Epilepsy is a chronic non-communicable disease of the brain that affects people of all ages. Around 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. In addition, the increasing prevalence of neurological diseases in low and middle-income countries will propel the growth of the market in the foreseeable future. For instance, as per the World Health Organization survey, nearly 80% of people with epilepsy live in low- and middle-income countries.
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The report further shares the following information:
- Comprehensive analysis of the upcoming trends and prospects in the market;
- 360-degree evaluation of the factors driving and restraining market growth;
- Detailed research into the regional and competitive landscape influencing the market;
- Careful study of the market segments.
Unveiling of Vercise Gevia™ Deep Brain Stimulation Systems to Benefit in Revenue Generation
Boston Scientific Corporation, a manufacturer of medical devices used in interventional medical specialties, including interventional radiology and interventional cardiology launched the Vercise™ Primary Cell (PC) and Vercise Gevia™ Deep Brain Stimulation (DBS) Systems featuring the Vercise Cartesia Directional Lead. The new ground breaking systems feature technology designed to allow physicians to control the range, shape, position and direction of electrical stimulation to treat the symptoms of Parkinson’s disease (PD) through highly-personalized therapy and are approved by the U.S. Food and Drug Administration (FDA).
The launch of the new systems by Boston Scientific Corporation will boost the deep brain stimulation devices market trends during the forecast period owing to the engineered systems, which allows customized stimulations compared to other devices. Furthermore, Maulik Nanavaty, senior vice president and president, Neuromodulation, Boston Scientific said in a statement “Our newest generation Vercise Directional DBS Systems are supported by years of clinical data and real-world experience on the advantages of directionality and offer programming software with features that give physicians the ability to tailor therapy for individual patient needs.”
Rising Patient Pool to Encourage Growth in Asia Pacific
Asia Pacific is expected to witness the highest growth in the market owing to the growing demand in countries such as Japan, China and India. The increasing disposable income leading to higher healthcare expenditure will also aid growth in the region. Furthermore, the growing awareness regarding various neurological conditions such as epilepsy, essential tremors and Parkinson’s disorder will fuel demand for DBS in Asia Pacific.
The increasing number of medical settings such as specialty clinics and multispecialty hospitals is also a major factor stimulating growth in the region. The market in North America stood at USD 323.4 million in 2018 and is expected to flourish rapidly. The presence of major players in the region will uplift the deep brain stimulation devices market share.
Developed Healthcare Infrastructure to Foster Growth in North America
The market in North America is predicted to witness a significant growth rate during the forecast period. The growth in the region is attributed to developed healthcare infrastructure with advanced facilities. The increasing research and development activities by key players will propel healthy growth of the market in the region. The presence of major companies such as Medtronic, Abbott, Boston Scientific, and others will enable expansion of the market in the region. Asia Pacific is likely to rise tremendously during the forecast period owing to the increasing disposable income in countries such as Japan, China, and India.
The increasing healthcare expenditure will further promote the expansion of the market in the region. The growing awareness regarding various neurological conditions such as epilepsy, essential tremors, and Parkinson’s disorder will further encourage the growth of the market in the forthcoming years. The development of specialty clinics and multispecialty hospitals and others. In addition, the growing number of neurologists and medical professionals will further enhance the growth of the market in the region.
As per Fortune Business Insights™, some of the significant players in the market for Deep Brain Stimulation Devices include:
- Abbott (ST. JUDE MEDICAL)
- Boston Scientific Corporation
- Beijing PINS Medical Co., Ltd.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Industry Background of Deep Brain Stimulation Devices Market
- New Product Launch
- Porter’s five forces analysis
- Key Merger and Acquisition Strategies by Top Players
- Overview on Technological Advancements Pertaining to the Deep Brain Stimulators
- Global Deep Brain Stimulation Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Dual Channel Deep Brain stimulators
- Single Channel Deep Brain Stimulators
- Market Analysis, Insights and Forecast – By Application
- Parkinson’s Disease
- Essential Tremor
- Market Analysis, Insights and Forecast – By End User
- Specialty Clinics
- Market Analysis, Insights and Forecast – By Country
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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