Deep Brain Stimulation Devices Market size is set to exceed USD 3.9 billion by 2030, according to a new research report by Global Market Insights Inc.
Rising prevalence of neurological disorders such as Parkinson’s disease, essential tremor, dystonia, epilepsy, and obsessive-compulsive will spur the market demand. Similarly, growing demand for minimally invasive surgery due to several benefits associated with it will foster the global market trends.
Adoption of advanced deep brain stimulation devices will fuel the market expansion
Technological improvements in deep brain stimulation devices are providing relief to a large number of patients affected by debilitating neurological as well as psychiatric disorders. The therapy includes non-invasive/invasive approaches and involves the utilization of electrical stimulation to drive neural function. Also, various market participants are focusing on introducing novel products that surge the overall market progress. Therefore, with technological advancements, more accurate, flexible, and precise delivery of current will be delivered to the desired targets of the brain.
Growing application of deep brain stimulation devices for epilepsy will propel the deep brain stimulation devices market forecasts
Epilepsy segment surpassed USD 118 million in 2021, due to rising cases of seizures across the globe. Epilepsy is one of the common neurological disorders in that brain activity becomes abnormal, leading to a period of unusual behavior & sensations or causing seizures and loss of awareness. Thus, for epilepsy, deep brain stimulation therapy is preferred to deliver controlled electrical stimulation directly to the affected areas in the brain. For this, key market players are focusing to develop and manufacture new deep brain stimulation devices in the market with efficient features and applications to cure various diseases.
Browse key industry insights spread across 100 pages with 122 market data tables & 11 figures & charts from the report, “Deep Brain Stimulation Devices Market Analysis By Application (Parkinson's Disease, Epilepsy, Essential Tremor, Obsessive-compulsive Disorder, Dystonia, Pain Management), End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Exponential growth of deep brain stimulation devices in hospitals will boost the deep brain stimulation devices market outlook
Hospital segment exceeded USD 906 million in 2021. This is attributed to the rising prevalence of neurological diseases such as essential tremor, dystonia, multiple sclerosis, psychiatric conditions, etc. Therefore, tremors are treated by deep brain stimulation devices through surgical procedures when medications are ineffective. Moreover, adoption of advanced instruments and technology in hospitals helps in obtaining more accuracy in diagnosis. As a result, rising demand for advanced deep brain stimulation devices will have a positive impact on the market revenue.
Highly competitive deep brain stimulation devices market in Europe will contribute to industry expansion
European market is expected to grow at 15.3% CAGR over the forecast period due to rising number of elderly patients suffering from neurological diseases. Some of the common neurological diseases affecting the elderly population include dementia, Alzheimer’s, and Parkinson’s disease. Hence, a large number of elderly base further enhances the regional-level progression.
Major leaders are focusing on strategies & launching innovative products to capture a higher market share
Some of the prominent industry players operating in the deep brain stimulation devices industry include Abbott, Boston Scientific, Medtronic, Beijing PINS Medical Co. Ltd., and SceneRay Co., Ltd, among others. These industry players are executing various strategic collaborations, innovations, mergers, and acquisitions to sustain market competition and strengthen their value.
For instance, in January 2021, Boston Scientific received the U.S. Food and Drug Administration (FDA) approval for its fourth generation Vercise Genus Deep Brain Stimulation (DBS) System. This approval helped the company to garner a higher industry share.
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