Deep Brain Stimulation (DBS) Market Size Worth $3.2 Billion By 2025 | CAGR: 18.2%
111 Pages | Published Date : 08 / 11 / 17 | Report Code: AV137 | Report Format: PDF
The global deep brain stimulation market is expected to grow at growth rate of 18.2% to reach USD 3.2 billion by 2025.
Deep brain stimulation therapy performed with the use of implanted medical device in brain to deliver electrical pulses in order to target specific areas of the brain cells. Factors such as stable reimbursement scenario, technological advancements, favorable government initiatives, and rising customer awareness is expected to boost the market growth. As per a study published by the U.S. National Library of Medicine, improved electrode design has increased the efficiency of deep brain stimulators by reducing the frequency of surgical replacements and has led to reduced adverse effects. Deep brain stimulators are integrated with physiological mapping software that enables identification of stimulation sites and allow the application of targeted therapy approach, thereby reducing the adverse effects. Also, increasing neurological disorders such as Parkinson’s disease, anxiety and others are expected to boost the market growth to some extent. However, stringent regulatory scenario for the approval of DBS products hamper the overall market growth to some extent.
Deep brain stimulators market is primarily categorized as Epilepsy, Dystonia, Parkinson’s Disease, Tremor, and Others. Parkinson’s disease is considered to be the largest market owing to the increasing prevalence of the disorder globally. On other hand, epilepsy and depression is considered to be the lowest revenue generating market segment. Many research studies are undergoing by various companies and universities on the effect of DBS therapy for the treatment of epilepsy and depression which will provide healthy platform for the market growth in near future.
Regionally, the market is dominated by the developed countries such as North America and Europe. Collectively, these regions accounted for more than 70% share of the global market revenue. This therapy is currently approved in many geographies, including the U.S. and Europe, for the treatment of the tremor, Parkinson’s disease and dystonia. Increasing incidence of neurological disorders in the U.S. and many European countries have stimulated the demand for DBS therapy. As per Parkinson’s Disease Foundation (PDF), around 1 million people in the U.S. have been affected by Parkinson’s disease till date and 60,000 people are affected every year in the U.S. Also, presence of major competitors coupled with sophisticated healthcare infrastructure & supportive government initiatives are also responsible for market growth in North America.
Companies such as Boston Scientific Corporation, Medtronic, Inc., Aleva, St. Jude Medical Inc. and others are the key players of the market. These market leaders are involved in mergers & acquisitions to capture a larger share of the market. Moreover, the companies are highly inclined toward maintaining competition in the market as well as delivering economic value to customers and satiate unmet demands. These companies are highly inclined in improving overall health outcomes. In addition, it is consistently striving to achieve the profit margins through regional expansion. Moreover, greater focus toward strengthening supply chain and refinement of operation structures has facilitated the company to gain this position.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY APPLICATION
- Parkinson’s Disease
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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