Deep Brain Stimulation Devices Market - Global Market Share, Trends, Analysis and Forecast 2023 - 2032
The global deep brain stimulation devices market size was estimated to be US$ 1 billion in 2020 and is estimated to reach US$ 2.7 billion by 2031 at a CAGR of 9.4%.
Deep brain stimulation is characterized as a medical procedure that includes the implantation of an electrical device in the body. These devices are utilized in the treatment of discrete neurological issues like Parkinson's, epilepsy, essential tremor, dystonia, and others. What is more, deep brain stimulation devices are likewise used to occlude pain signals by sending an electrical pulse close to the spine region. In August 2018, Abbott declared the US Food and Drug Administration endorsement for an over-the-air programming update for all, as of now, embedded Infinity DBS model. The model gives magnetic resonance (MR)- conditional labeling and innovative features.
Ascend in commonness of sicknesses resulting from unhealthy lifestyle like sadness and persistent agony, expansion in number of neurological issues, along with venture for neurological Research and development are the factors that drive the development of the worldwide deep brain stimulation devices market.
Notwithstanding, the accessibility of other treatment alternatives, for example, drug treatments and medical procedures confine the development of the deep brain stimulation devices market. As per end client, the medical clinic segment represented the most elevated deep brain stimulation devices portion of the overall industry during 2019.
In May 2019, Abbott came into organization with the US National Institutes of Health (NIH). The organization was pointed toward creating extraordinary bits of knowledge and driving the utilization of neurostimulation treatments. The association would give the last organization's neuroscience research drive, 'BRAIN', access to Abbott's neuromodulation innovations. These advancements help clinical specialists in investigational viability scans for the incorporation of DBS devices in the treatment of other neurological issues.
According to the Parkinson's Disease Foundation, indications of this disorder are normal at a normal age of 60. Canada is another significant country for deep brain stimulation devices market.
Global Deep Brain Stimulation Devices Market Value Share Analysis, by Geography (2022)
The report titled “Global Deep Brain Stimulation Devices Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is the historic period, 2022 is the base year, and 2023 to 2032 is the forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Deep Brain Stimulation Devices Market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Deep Brain Stimulation Devices market is segmented based on Product type, application type, end user type and region. Based on Product type, the Deep Brain Stimulation Devices market is segmented into Single Channel, Dual Channel. Based on application type, the Deep Brain Stimulation Devices market is segmented into Pain Management, Epilepsy, Essential Tremor, Obsessive-compulsive Disorder (OCD), Depression, Dystonia, Parkinson’s Disease, Others. Based on End user type, the Deep Brain Stimulation Devices market is segmented into Hospitals, Neurology Clinics, Ambulatory Surgical Centers, Research Centers, Others.
Based on geography, the Global Deep Brain Stimulation Devices Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada, and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Global Deep Brain Stimulation Devices Market. Further, market share of prominent companies in the Global Deep Brain Stimulation Devices Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Deep Brain Stimulation Devices companies. The Global Deep Brain Stimulation Devices Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Deep Brain Stimulation Devices business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Global Deep Brain Stimulation Devices Market.
The key players of the Global Deep Brain Stimulation Devices Market are Abbott Laboratories, Medtronic PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA, Functional Neuromodulation, Ltd., Beijing PINS Medical Co., Ltd., NeuroPace, Inc., Nevro Corporation, Neuronetics, Inc., Fisher Wallace Laboratories, Inc, and others.
Global Deep Brain Stimulation Devices Market Key Segments:
Based on Product Type
- Single Channel
- Dual Channel
Based on Application Type
- Pain Management
- Epilepsy
- Essential Tremor
- Obsessive-compulsive Disorder (OCD)
- Depression
- Dystonia
- Parkinson’s Disease
- Others
Based on End user Type
- Hospitals
- Neurology Clinics
- Ambulatory Surgical Centers
- Research Centers
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
- South America
- Brazil
- Rest of South America
Frequently asked questions about this report
How big is the Deep Brain Stimulation Devices Market?
The global Deep Brain Stimulation Devices market was worth US$ 1 billion in 2020.
What is the anticipated CAGR for the market until 2032?
The global market for Deep Brain Stimulation Devices will most likely expand at over 9.4% CAGR through 2032.
Who are the key players in Deep Brain Stimulation Devices market?
Some key players operating in the Deep Brain Stimulation Devices market include Abbott Laboratories, Medtronic PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA, Functional Neuromodulation, Ltd., Beijing PINS Medical Co., Ltd., NeuroPace, Inc., Nevro Corporation, Neuronetics, Inc., Fisher Wallace Laboratories, Inc.
Which region is contributing significantly to the global Deep Brain Stimulation Devices Market?
North America is the principal contributor to the global Deep Brain Stimulation Devices market.
What are the key driving factors for the growth of the Deep Brain Stimulation Devices Market?
Ascend in commonness of sicknesses resulting from unhealthy lifestyle like sadness and persistent agony, expansion in number of neurological issues, along with venture for neurological Research and development are the factors that drive the development of the worldwide deep brain stimulation devices market.