Deep Brain Stimulation Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3921
Deep Brain Stimulation Devices Market size is projected to experience rapid growth from 2019 to 2025.
Increasing prevalence of neurological disorder such as Parkinson’s disease, epilepsy, dystonia will lead to significant growth of deep brain stimulation device market. According to World Health Organization statistics, in 2018, about 300 million were suffering from depression and more than 60 million people were found to be affected by bipolar disorder across the globe. Increasing rate of disease such as Parkinson’s disease, epilepsy and dystonia will escalate growth of global deep brain stimulation devices in the future.
Technological advancements in deep brain stimulator systems will boost industry growth. Upcoming advancements include novel technologies such as microelectrode design, individualized directed programming and multi-target stimulation. Moreover, advanced technologies will simplify implantation procedure and enhance patient safety. Thus, upcoming technologies will foster business growth in forthcoming years.
However, high cost of deep brain stimulation devices will negatively affect growth of market over forecast timeframe. High cost of surgery and medical device will negatively affect growth rate of deep brain stimulation business.
Rising prevalence of Parkinson’s disease will stimulate deep brain stimulation devices market over the forecast years. According to Parkinson Foundation, more than 10 million people are suffering from Parkinson’s disease worldwide. Adoption of deep brain stimulation devices in Parkinson’s disease treatment will positively affect industry growth during the projected timeframe.
U.S. deep brain stimulation market is forecasted to show significant growth in the future. According to Anxiety and Depression Association of America, about 18.1% of U.S. population is suffering from neurological disorder. High pervasiveness of neurological disorders in U.S. population will increase demand of brain stimulation device, hence result in steady growth in deep brain stimulation business over projected years.
India deep brain stimulation market will foresee robust growth over the projected timeframe. According to World Health Organization statistics, in 2017, about 7.5% Indians were affected from brain disorders leading to higher demand of surgery and treatments. Thus, increasing rate brain disorders in India will boost deep brain stimulation device business over upcoming years.
Some of the major market players involved in the global deep brain stimulation market are Medtronic, Boston Scientific Corporation, Abbott Laboratories (St Jude Medical), Beijing PINS Medical, Fisher Wallace among others. Firms are adopting business expansion strategies such as new drug launch, acquisitions, merger and collaborations to increase their market footprint. For instance, in July 2018, Medtronic announced launch of deep brain stimulation Clinician Programmer. The strategy was expansion of deep brain stimulation business by launch of advance technology program.
Deep brain stimulation devices market, by application, 2014-2025 (USD Million)
- Pain management
- Essential tremor
- Obsessive compulsive disorder
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Boston Scientific Corporation
- Abbott (St Jude Medical)
- Beijing PINS Medical
- NeuroPace Inc.
- Renishaw plc
- Fisher Wallace
- Functional Neuromodulation, Ltd.
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