The Deep Brain Stimulation Systems Market is witnessing significant growth due to its effectiveness in treating various neurological disorders. The demand for these devices is rising as they offer targeted treatment by implanting electrical devices in the brain, stimulating specific areas responsible for body movement. Conditions like epilepsy, dystonia, Parkinson's disease, essential tremor, and obsessive-compulsive disorder are among those benefiting from this technology. Market analysis reveals a promising outlook, driven by increasing patient awareness, advancements in technology, and a growing aging population.
According to Data Bridge Market Research, the global deep brain stimulation systems market was valued at USD 1,208.97 million in 2021 and is expected to reach USD 2,408.96 million by 2029, registering a CAGR of 9.00% during the forecast period of 2022-2029.
“Rise in demand for minimally invasive surgery facilitate market growth”
The rise in demand for minimally invasive surgery acts as a significant driver of the deep brain stimulation systems market. Patients and healthcare providers increasingly prefer less invasive procedures due to their potential benefits, such as shorter hospital stays, reduced risk of complications, and quicker recovery times. Deep brain stimulation, being a minimally invasive surgical intervention, aligns with this preference. Its ability to offer targeted treatment for neurological disorders with fewer surgical risks attracts more patients, thus propelling the growth of the deep brain stimulation systems market worldwide.
What restraints the growth of the global deep brain stimulation systems market?
“Availability of alternative treatment options”
The availability of alternative treatment options poses a restraint on the deep brain stimulation systems market. While DBS is effective for certain neurological disorders, some patients may prefer or be eligible for other treatments such as medications, Physical Therapy Market, or less invasive procedures. Additionally, advancements in non-invasive brain stimulation techniques and emerging therapies may attract patients seeking less intrusive options. As a result, the market for deep brain stimulation systems may face competition and limitations in capturing the entire patient population, impacting its overall growth and market penetration.
Segmentation: Global Deep Brain Stimulation Systems Market
The deep brain stimulation systems market is segmented on the basis of product type, application, type, and end user.
- On the basis of product type, the deep brain stimulation systems market is segmented into single-channel deep brain stimulator, dual-channel deep brain stimulator.
- On the basis of application, the deep brain stimulation systems market is segmented into obsessive compulsive disorder, parkinson’s disease, essential tremor, epilepsy, dystonia.
- On the basis of type, the deep brain stimulation systems market is segmented into rechargeable, non-rechargeable.
- On the basis of end user, the deep brain stimulation systems market is segmented into hospitals, ambulatory surgical centers (ASCS), neurological clinic.
Regional Insights: North America dominates the Global Deep Brain Stimulation Systems Market
North America dominates the deep brain stimulation systems market due to a combination of factors. There has been a significant increase in the number of patients diagnosed with Parkinson's disease (PD) in the region. This growing patient population creates a higher demand for deep brain stimulation systems, which have shown efficacy in managing PD symptoms, and the governments in North America have been actively funding and supporting initiatives related to neurology and medical device development. This financial backing fosters research, innovation, and adoption of deep brain stimulation systems in clinical practice.
On the other hand, the Asia-Pacific (APAC) region is experiencing a rise in the prevalence of neurodegenerative disorders, leading to a potential surge in demand for deep brain stimulation systems in the coming years. This trend positions APAC for significant growth in the forecast period of 2022 to 2029.
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Recent Developments in Global Deep Brain Stimulation Systems Market
- In June 2020, the FDA approved Medtronic's deep brain stimulation device, Percept, featuring BrainSense technology. This innovative system allows for the chronic capturing and recording of brain signals in patients with neurological disorders. By continuously monitoring brain activity, Percept provides valuable insights to clinicians, leading to improved treatment customization and management for individuals suffering from neurological conditions.
The Prominent Key Players Operating in the Global Deep Brain Stimulation Systems Market Include:
- Boston Scientific Corporation (U.S.)
- Fisher Wallace (U.S.)
- SceneRay Corporation, Limited (China)
- Beijing PINS Medical Co., Ltd (China)
- ALEVA NEUROTHERAPEUTICS SA (Switzerland)
- MEDTRONIC (Ireland)
- Abbott (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global deep brain stimulation systems market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Deep Brain Stimulation Systems Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
