Deep Brain Stimulation Devices Market to Register Healthy Growth through 2025 – TechSci Research
Increasing patient pool suffering from Parkinson’s disease and multiple sclerosis to drive global deep brain stimulation (DBS) devices market
According to TechSci Research report, “Global Deep Brain Stimulation (DBS) Devices Market By Product Type (Single-channel Deep Brain Stimulator, Dual-channel Deep Brain Stimulator), By Type (Rechargeable, Non-Rechargeable), By Application (Obsessive Compulsive Disorder, Parkinson’s Disease, Essential Tremor, Epilepsy, Dystonia, Others), By End User (Hospitals, Ambulatory Surgical Centers (ASCs), Neurological Clinic, Research Centers), By Region, Forecast & Opportunities, 2025”, the market is expected to witness significant CAGR during the forecast period owing to extensive usage of these devices in the treatment of various neurological disorders such as essential tremor, Parkinson’s disease, dystonia, epilepsy and obsessive compulsive disorder. Rising prevalence of lifestyle diseases including depression and chronic pain is also one of the key factors behind the growth of deep brain stimulation (DBS) devices market. Furthermore, increasing cases of neurological disorders and growing investment on R&D activities in neurological sector are some other major factors driving the growth of this market. Also, growing aging population around the world and rising demand for minimal invasive surgery are expected to propel the global deep brain stimulation (DBS) devices market through 2025.
Moreover, potential advantages of deep brain stimulation devices like improved postoperative outcome control and its long-term effectiveness are also augmenting the market growth. Adding to this, adoption of technologically advanced products is also supporting the growth of global deep brain stimulation (DBS) devices market. However, the market is also experiencing some challenges. The side effects associated with the use of deep brain stimulation devices such as allergic reaction and tingling or prickling of the skin are expected to hamper the market growth. Moreover, availability of alternative treatment options like drug therapies and surgeries might further restrict the market growth during the forecast period. The outbreak of COVID-19 has also put challenge before suppliers and consumers of deep brain stimulation (DBS) devices.
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The global deep brain stimulation (DBS) devices market is segmented based on product type, type, application, end user and region. Based on product type, the market is segmented into single-channel deep brain stimulator and dual-channel deep brain stimulator. Among them, the dual-channel deep brain stimulator accounted for largest market share in 2019 and is further expected to hold its dominance through 2025. The reasons can be attributed to their increasing use in surgical procedures for treating Parkinson’s disease.
Based on application, the global deep brain stimulation (DBS) devices market is segmented into obsessive compulsive disorder, Parkinson’s disease, essential tremor, epilepsy, dystonia and others. Among them, the Obsessive-Compulsive Disorder (OCD) segment is anticipated to witness highest CAGR during the forecast period owing to increasing cases of OCD. DBS devices are more effective than other therapeutics such as serotonin reuptake inhibitors.
Major players operating in the global deep brain stimulation (DBS) devices market include Boston Scientific Corporation, Abbott Laboratories (St. Jude Medical), Beijing PINS Medical Co. Ltd, Fisher Wallace, NeuroSigma, Inc., Functional Neuromodulation Ltd, Medtronic PLC, NeuroPace Inc., Renishaw PLC, ALEVA NEUROTHERAPEUTICS SA, LivaNova PLC, SceneRay Corporation, Nevro Corporation and Neuronetics Inc. The market players are focusing on launching innovative devices and investing on latest technologies to strengthen their market position in global market.
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“North America dominated the global deep brain stimulation (DBS) devices market in 2019 owing to increase in FDA approvals for these devices in clinical applications. However, Asia Pacific is expected to undergo fastest CAGR through 2025 owing to growing awareness about various neurological disease treatment options. The region is also witnessing increasing prevalence of neurodegenerative disorders, which require long term solutions,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Deep Brain Stimulation Devices Market to Register Healthy Growth through 2025 – TechSci Research
“Global Deep Brain Stimulation (DBS) Devices Market By Product Type (Single-channel Deep Brain Stimulator, Dual-channel Deep Brain Stimulator), By Type (Rechargeable, Non-Rechargeable), By Application (Obsessive Compulsive Disorder, Parkinson’s Disease, Essential Tremor, Epilepsy, Dystonia, Others), By End User (Hospitals, Ambulatory Surgical Centers (ASCs), Neurological Clinic, Research Centers), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global deep brain stimulation (DBS) devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global deep brain stimulation (DBS) devices market.
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