SAN FRANCISCO, Feb. 22, 2021 /PRNewswire/ -- The global deep brain stimulation devices market size is anticipated to reach USD 2.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.3% from 2021 to 2028. Surge in incidence of neurological disorders, growing awareness about the deep brain stimulation devices and introduction of technologically advanced products is attributing to the growth of market.
Key suggestions from the report:
- On the basis of product, the dual channel segment dominated the market in 2020 with the share of 57.2%. Growing adoption of double-channel DBS devices for treatment of numerous neurological disorders, such as PD, dystonia, Alzheimer's, and epilepsy driving the segment
- Based on application, the Parkinson's disease segment dominated the market in 2020 with the share of 65.2% owing to rising prevalence of PD globally. According to UCB report, around 100,000 people in Canada are living with PD at present and more than 6,600 new cases are diagnosed each year
- In the end-use segment, hospitals dominated the market in 2020 and accounted for the largest revenue share of 52.0% owing to increase in number of DBS surgeries performed in hospitals and surge in prevalence of neurological disorders
- North America dominated the market with the highest revenue share of 51.9% in 2020. This is due high prevalence of psychological disorders, availability of highly skilled physicians, and rise in awareness about treatments in this continent
Read 164 page research report with ToC on "Deep Brain Stimulation Devices Market Size, Share & Trends Analysis Report By Product (Single Channel, Dual-channel), By Application, By End-use, By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/deep-brain-stimulators-dbs-market
The incidence of neurological disorders such as Parkinson's disease, epilepsy, and depression is increasing globally, which is anticipated to positively impact the market growth. For instance, according to Depression and Bipolar Support Alliance, around 17.3 million adults in the U.S. are suffering from major depressive disorder. Thus, large number of people suffering from such conditions and disorders is expected to boost market growth during the forecast period.
Potential benefits of Deep Brain Stimulation (DBS) devices such as long-term benefits and better postoperative outcomes, are anticipated to fuel the market growth. Additionally, these advancements help clinical researchers in investigational efficacy studies for the inclusion of DBS devices in the treatment of other neurological disorders. Such factors are expected to raise the demand for DBS devices over the forecast period.
Grand View Research has segmented the global deep brain stimulation devices market on the basis of product, application, end use, and region:
- Deep Brain Stimulation Devices Product Outlook (Revenue, USD Million, 2016 - 2028)
- Single Channel
- Dual Channel
- Deep Brain Stimulation Devices Application Outlook (Revenue, USD Million, 2016 - 2028)
- Pain Management
- Essential Tremor
- Obsessive-compulsive Disorder (OCD)
- Parkinson's Disease
- Deep Brain Stimulation Devices End-use (Revenue, USD Million, 2016 - 2028)
- Neurology Clinics
- Ambulatory Surgical Centers
- Research Centers
- Deep Brain Stimulation Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Deep Brain Stimulation Devices Market
- Abbott (St. Jude Medical)
- Boston Scientific Corporation
- Aleva Neurotherapeutics S.A.
- LivaNova PLC
- Neuropace Inc.
Find more research reports on Medical Devices Industry, by Grand View Research:
- Pain Management Devices Market – The global pain management devices market size was valued at USD 5.54 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2020 to 2027.
- Anxiety Disorders And Depression Treatment Market – The global anxiety disorders and depression treatment market size was valued at USD 15.2 billion in 2015 and is anticipated to show steady growth due to the increasing prevalence of anxiety disorder and depression worldwide.
- Neurostimulation Devices Market – The global neurostimulation devices market size was valued at USD 4.99 billion in 2018 and is anticipated to witness a CAGR of 12.5% during the forecast period.
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About Grand View Research
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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