- Deep Brain Stimulation Systems Market Size – USD 1,227.5 Million in 2019, DBS Systems Market
Growth – CAGR of 8.1%, DBS Devices Market Trends– Rising prevalence
of Obsessive Compulsive Disorder (OCD), potential investment
opportunities and favorable reimbursement scenario is expected to
fuel the market in the forecast period
- Technological advancements in Deep Brain Stimulation (DBS)
Systems, prevalence of Parkinson's disease, dystonia and epilepsy,
together with rising demand for painless and wireless rechargeable
systems are expected to fuel the market growth
VANCOUVER, B.C., Sept. 15, 2020 /PRNewswire/ -- 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, growing 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.
Minimally invasive surgical techniques play a considerable role
in treating neurological symptoms like tremors, movement control
and rigidity among other symptoms leading to Parkinson's disease
and dystonia. The systems directed in deep brain stimulation
safeguards minimal damage to the surrounding brain tissues.
Technologically advanced implanted systems have an ability to get
recharged wirelessly without further surgical activities.
Furthermore, epilepsy is currently affecting more than 50 million
people across the world accounting for a substantial proportion of
the entire world's disease burden. Side effects linked with the
surgery and associated drugs, high cost of treatment along with
high cost of deep brain stimulation systems might restrict the
industry growth in the forecast period.
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Key Highlights from the Report
- Dual channel deep brain stimulation systems product segment
accounted for the largest market share of around 57.8%, owing to
use of advanced technology and safety features like painless
management and wireless recharge to reduce tremors associated with
Parkinson's disease
- Due to increase in occurrence of unconscious body movements
especially in the geriatric population across the globe,
Parkinson's disease application segment of the deep brain
stimulation systems dominated the market with revenue share of
approximately 39.7%
- Approximately, 930,000 people are expected to be suffering from
the Parkinson's disease in the United
States by the end of 2020. Thus, the demand for deep brain
stimulation systems is set to increase significantly in the coming
years with advanced features to minimise the tremors accompanying
the disease
- Abbott received expanded indication from the U.S. FDA, in
January 2020, for directional deep
brain stimulation system to treat Parkinson's disease. With this
approval the associated product will treat effectively not just
Parkinson's disease but also essential tremor
- Large patient pool suffering from Parkinson's disease,
epilepsy, dystonia and depression due to growing geriatric
population especially in countries like India and China has stimulated the market in the
Asia Pacific region. Asia Pacific registered highest CAGR of 9.0%
in 2019 and is set to showcase a high rate of growth in the
forecast period
- Key market players operating in the market include Abbott,
Medtronic, Aleva Neurotherapeutics, NeuroPace, Cyberonics, Boston
Scientific Corporation and Fisher Wallace among other
companies
- North America dominated the
industry with a largest market share in the deep brain stimulation
(DBS) systems market. The growth prospects of the market are
attributed to increase in occurrence of depression disorders,
product approvals from the US Food and Drug Administration (FDA)
along with favorable reimbursement scenarios and potential
technological advancements in systems.
To get leading market solutions, visit the link below:
https://www.emergenresearch.com/industry-report/deep-brain-stimulation-system-market
Emergen Research have segmented Deep Brain Stimulation (DBS)
Systems Market on the basis of product, application, end use and
region:
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
Regional Outlook (Revenue in Million USD; 2017–2027)
o US.
o Canada
o Germany
o UK
o France
o Spain
o Italy
o Rest of the Europe
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
- Middle East & Africa
- Latin America
o Brazil
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