SAN FRANCISCO, June 21, 2018 /PRNewswire/ --
The global deep brain stimulation devices market size is expected to reach USD 2.10 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of over 11.9% during the forecast period. Growing prevalence of Parkinson's disease coupled with surging demand for cost-efficient surgical procedures, minimally invasive in nature, is providing a fillip to the market. As per the statistics published by the Parkinson Disease Foundation, in 2010, around 10.0 million people were found to be suffering from this disease and this number is anticipated to grow at an unprecedented rate in the coming years.
A significant rise in the usage of deep brain stimulators by neurologists in the treatment of various neurological diseases is supplementing the growth of the market. These diseases include Parkinson's disease, obsessive-compulsive disorder, essential tremors, and dystonia. Pending product approvals from regulatory authorities such as the U.S. FDA for the adoption of DBS in the treatment regime of refractory epilepsy is also estimated to offer significant growth opportunities to the market in the coming years. Moreover, advent of technologically advanced concepts in DBS systems such as fractionation of electric current and selective current steering, which induces positive patient outcomes, is further projected to fuel market growth prospects.
Browse full research report with TOC on "Deep Brain Stimulation Devices Market Size, Share & Trends Analysis Report By Application (Pain Management, Epilepsy, Essential Tremor, OCD, Depression, Dystonia, Parkinson's), By Region, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/deep-brain-stimulators-dbs-market
Further Key Findings From the Report Suggest:
- Parkinson's disease accounted for the leading share in the market in 2016 owing to benefits offered by DBS such as improvised motor symptoms for longer time period, fewer side effects, and ability to track momentary fluctuations
- Increasing number of drug-resistant cases in treatment of Parkinson's disease is also a major factor escalating the growth of the market
- Obsessive-compulsive disorder held the second largest share in terms of revenue as a result of failure of serotonin reuptake inhibitors (SSRi) and positive patient outcomes associated with DBS
- North America registered substantial revenue share in the market, owing to extensive research activities aimed at studying possible outcomes with DBS in newer applications
- Asia Pacific is projected to observe exponential growth during the forecast period due to growing awareness pertaining to benefits associated with stimulation devices and improving healthcare infrastructure
- Increasing adoption of strategies such as new product development and research collaborations is rendering the market a highly competitive arena
- Other significant strategies implemented by companies include promotional campaigns to heighten awareness levels regarding their products among healthcare professionals as well as patients.
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Grand View Research has segmented the global deep brain stimulators market on the basis of application and region:
- Deep Brain Stimulators Application Outlook (Revenue, USD Million, 2014 - 2025)
- Pain Management
- Essential Tremor
- Obsessive-Compulsive Disorder (OCD)
- Parkinson's Disease
- Deep Brain Stimulators Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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