The global Deep Brain Stimulation (DBS) Systems Market was valued at USD 1227.5 million in 2019 and is expected to reach USD 2,122.8 million by 2027, at a CAGR of 8.1% according to a new report by Emergen Research. In general, geriatric population suffers from unconscious movements of the body leading to Parkinson’s disease, multiple sclerosis and dystonia. In the United States, more than 60,000 people are diagnosed with Parkinson’s disease each year, with approximately 10 million people presently living with Parkinson’s disease globally. High prevalence of such diseases among elderly coupled with rising geriatric population are fuelling up the demand for the deep brain stimulation systems worldwide. In addition, increasing incidences associated with depression, essential tremor and obsessive compulsive disorder (OCD) are further multiplying the demand of deep brain stimulation systems in the industry.
The Deep Brain Stimulation (DBS) Systems Market report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic’s gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.
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Competitive Terrain:
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Deep Brain Stimulation (DBS) Systems market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
The leading market contenders listed in the report are:
Abbott, Medtronic, Aleva Neurotherapeutics, NeuroPace, Cyberonics, Boston Scientific Corporation and Fisher Wallace
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Emergen Research has segmented the global Deep Brain Stimulation (DBS) Systems market on the basis of type, application, end-use, and region:
Segments Covered in this report are:
- Product Outlook (Revenue in Million USD; 2017–2027)
- Dual Channel
- Single Channel
- Application Outlook (Revenue in Million USD; 2017–2027)
- Fluid Replacement
- Parkinson’s Disease
- Pain Management
- Obsessive-Compulsive Disorder (OCD)
- Epilepsy
- Essential Tremor
- Depression
- Dystonia
- Other
- End Use Outlook (Revenue in Million USD; 2017–2027)
- Hospitals
- Ambulatory Care Centre
- Neurology Centers
- Other
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Objectives of the Report:
- Analysis and estimation of the Deep Brain Stimulation (DBS) Systems Market size and share for the projected period of 2022-2030
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Deep Brain Stimulation (DBS) Systems Market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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The global deep brain stimulation systems market, valued at USD 2,893 million in 2019 and expected to reach USD 5,378 million by 2027, is projected to expand at a CAGR of 9.5 percent over the forecast period (2020–2027).
Deep brain stimulation (DBS) is a surgical procedure that involves implanting electrodes inside the brain to deliver electrical impulses to treat and manage neurological disorders, such as Parkinson’s disease and dystonia. DBS is more effective than traditional drug therapies for some neurological conditions, as it allows doctors to find the optimal settings for an individual patient.
New technologies, medical advances, and population aging are driving the growth of the deep brain stimulation systems market. In addition, the rising prevalence of neurological disorders and government initiatives to support research on the use of new and advanced technologies to treat these disorders are promoting the growth of the deep brain stimulation systems market. On the other hand, the high cost of the procedure and the lack of awareness among the general public, particularly in low and middle-income countries, are hindering the growth of the market.
Based on technology, the deep brain stimulation systems market is divided into manual DBS, adjustable DBS, and closed-loop DBS. The manual DBS segment holds the largest share in the market, owing to its wide acceptability, as it is easier to use than adjustable and closed-loop DBS. In terms of application, the market is segmented into essential tremor, Parkinson’s disease, dystonia, and others. Of these, the Parkinson’s disease segment holds the largest share in the market, owing to the high prevalence of the disease.
Geographically, the deep brain stimulation systems market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2019, North America was the dominant region and accounted for the largest share of the market, followed by Asia-Pacific and Europe. The large share of the North American region can be attributed to the presence of well-developed healthcare infrastructure, a large patient population, and the rising prevalence of neurological disorders.
Leading players in the global deep brain stimulation systems market include Medtronic Plc, Boston Scientific Corporation, Abbott Laboratories, Johns Hopkins University, and Neuronetics, Inc., among others. These companies are actively engaging in research and development to introduce new products and improve existing ones to gain a competitive edge.
In conclusion, the increasing number of neurological disorders, technological advancements, and rising disposable incomes are expected to drive the growth of the deep brain stimulation systems market over the forecast period.
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