Deep brain stimulation is a surgery that involves the implantation of an electrical device in the body. The device is responsible for sending various electrical signals to the area of the brain, which is responsible for body movement. It is used in the treatment of various neurological disorders such as essential tremor, Parkinson’s disease, epilepsy, obsessive-compulsive disorder, dystonia, and others. In addition, the devices are also used to block pain signals by sending an electrical impulse near the spine region.
According to the study, “Global Deep Brain Stimulation Devices Market to reach USD 1.86 billion by 2026” the key companies operating in the global deep brain stimulation devices market are Medtronic Plc., Aleva Neurotherapeutics SA, Boston Scientific Corporation, Beijing PINS Medical Co., Ltd., Abbott laboratories, NeuroPace Inc., Functional Neuromodulation Ltd., Nevro Corporation, Neuronetics Inc., and Cyberonics, Inc. The key market players are focusing on launching novel medical devices, building growth strategies and technological advancements to support their position in the global market.
Based on type, the deep brain stimulation devices market is segmented as Globus Pallidus DBS, Subthalamic DBS, Pedunculopontine Nucleus DBS and Thalamic DBS. Based on product type, the market is segmented as a single-channel deep brain stimulator and dual-channel deep brain stimulator. The dual-channel deep brain stimulation device segment dominates the market owing to higher adoption in surgical procedures. Based on application, the market is segmented as Epilepsy, Pain Management, Depression, Essential Tremor, Obsessive-Compulsive Disorder (OCD), Parkinson’s disease, Dystonia, and others. In addition, based on end-use, the market is segmented as neurology clinics, hospitals, research centers, and ambulatory surgical centers. The hospital’s segment is expected to witness a higher growth rate due to an increase in the number of deep brain stimulation surgeries and a rise in the use of technologically advanced deep brain stimulation devices in operation theaters & intensive care units during the forecast period.
The deep brain stimulation devices market is driven by rising in the incidence of neurological diseases, followed by an increase in preferences for a targeted therapy approach, growth in technological advancements. However, risks associated with deep brain stimulation procedures and stringent regulatory frameworks may impact the market. Moreover, alternative use of deep brain stimulators is a key opportunity for the market.
Based on geography, the North-American region holds a major share in the global deep brain stimulation devices market owing to wide availability of technologically advanced deep brain stimulation devices in the region. Whereas, the European and Asian-Pacific regions are anticipated to witness higher growth rate due to the rise in prevalence of neurodegenerative disorders aided with unmet demand for effective & long-term solutions over the forecast period. In upcoming years, it is anticipated that the future of the global market will be bright as a result of an increase in the number of patients diagnosed with Parkinson during the forecast period. The global deep brain stimulation devises market is valued approximately at the US $0.9 billion in 2018 and is predictable to grow with a healthy growth rate of more than 9.5% over the forecast period 2019 to 2026.
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