DEEP BRAIN STIMULATION SYSTEMS MARKET: BY SCENERAY CORPORATION, LIMITED, BEIJING PINS MEDICAL CO., LTD, ALEVA NEUROTHERAPEUTICS SA
The global deep brain stimulation systems market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.5% in the forecast period of 2020 to 2027 and expected to reach USD 1,954.35 million by 2027 from USD 1,017.57 million in 2019. Rising demand for early and accurate disease diagnosis is the factor for market growth.
The major players covered in the report are NeuroPace, Inc, Boston Scientific Corporation, Fisher Wallace, SceneRay Corporation, Limited, Beijing PINS Medical Co., Ltd, ALEVA NEUROTHERAPEUTICS SA, MEDTRONIC, and Abbott among other players domestic and global.
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Deep Brain Stimulation Systems Market By Product Type (Single-Channel Deep Brain Stimulator, Dual-Channel Deep Brain Stimulator), Application (Obsessive Compulsive Disorder, Parkinson’s Disease, Essential Tremor, Epilepsy, Dystonia), Type (Rechargeable, Non-Rechargeable), End-User (Hospitals, Ambulatory Surgical Centers (ASCs), Neurological Clinic), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Market Trends and Forecast to 2027
Global Deep Brain Stimulation Systems Market Scope and Market Size
Deep brain stimulation systems market is segmented on the basis of product type, application and type, end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the market is segmented into single-channel deep brain stimulator and dual-channel deep brain stimulator. Single-channel deep brain stimulator segment is dominating the market because single channel deep brain stimulators hold the highest market share as they have existed in the market before the dual channel models that accounts for high penetration. Moreover, single channel stimulators are highly preferred in treatment of Parkinson’s disease that adds to the overall share of these systems.
- Rising cases of neurological disorders across the world is one of the prominent factors for growth of this market. Neurological disorders include various neurologic diseases which affect the brain and the autonomic and central nervous systems. There are more than 600 diseases of neurological disorders. Types of neurological disorders are including, Parkinson’s, Epilepsy, Essential Tremor, Tourette’s syndrome, among others.
- According to the World Health Organization (WHO), worldwide, millions of people are affected by the neurological disorders. Each year more than 6 million people die due to stroke. Worldwide 50 million people have epilepsy disease. 80% of deaths due to the neurological disorders take place in low- and middle-income countries.
- The deep brain stimulation surgery is used to treat a number of neurologic disorders diseases. In 1997, the Food and Drug Administration (FDA) approved the deep brain stimulation surgery for essential tremor; in 2002 and 2003, FDA approved deep brain stimulation surgery for the treatment of Parkinson’s disease and dystonia respectively
- On the basis of application, the market is segmented into Parkinson’s disease, essential tremor, dystonia, epilepsy, obsessive-compulsive disorder. Parkinson’s disease segment is dominating in the market due to high volume of deep brain stimulator implantation. Deep brain stimulation (DBS) is the most commonly performed surgical treatment for the neurological disorder especially Parkinson’s disease. In addition, rising incidences of Parkinson disease across the globe is further fuelling the market growth during the forecast period. For instance, according to the American Association of Neurological Surgeons, in the U.S., it is estimated that each year 60,000 new cases of Parkinson’s disease are diagnosed.
- On the basis of type, the market is segmented into rechargeable and non-rechargeable. In 2020, rechargeable segment is dominating in the market because these systems have high adoption than non-rechargeable systems due to their longevity. Moreover, these systems are usually smaller, lighter, and offer less discomfort as compared to the traditional ones.
- On the basis of end user, the market is segmented into hospitals, ambulatory surgical centers (ASCs), and neurological clinic. Hospitals segment is dominating in the market because hospital segment holds the highest market share as hospitals are the primary points for implantation of deep brain stimulation systems. It generally requires a stay of a day or more in a hospital. Moreover, as hospitals function round the clock and are generally equipped with extensive facilities, patients prefer these settings over others.
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Deep Brain Stimulation Systems Market Country Level Analysis
Deep brain stimulation systems market is analysed and market size information is provided by country by product type, application, type, end user type as referenced above.
The countries covered in the deep brain stimulation systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific in the Asia-Pacific, South Africa, Rest of Middle East and Africa as a part of Middle East and Africa, Brazil and Rest of South America as part of South America.
Country Level Analysis, By Product Type
North America dominates the deep brain stimulation Systems market as the U.S. is leader in deep brain stimulation systems. In North America due to better advancement in products and services, this region is dominating the deep brain stimulation systems. North America accounts higher healthcare expenditure, especially in U.S. Asia-Pacific is growing with the highest CAGR due to increase in medical tourism as well as increase in population. Numbers of companies in emerging countries are increasing due to increase in demand for neurology disease, hospitals and other areas. Additionally, the increasing number of healthcare expenditure and increasing number of hospitals and neurology clinics in China and India upsurge demand of deep brain stimulation systems. Asia-Pacific region is expected to grow with the highest growth rate in the forecast period of 2020 to 2027 because of increasing Parkinson’s diseases among population.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Huge Investment by Laboratory for Deep Brain Stimulation Systems and New Technology Penetration
Deep brain stimulation systems market also provides you with detailed market analysis for every country growth in life science industry with deep brain stimulation systems demand impact of technological development in laboratory services and changes in regulatory scenarios with their support for the deep brain stimulation systems market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Deep Brain Stimulation Systems Market Share Analysis
Deep brain stimulation systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, concept cars, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to global Deep Brain Stimulation Systems market.
Many Business Expansion and developments are also initiated by the companies worldwide which are also accelerating the global Deep Brain Stimulation Systems market.
- In October 2019, Medtronic launched a brain stim program by the use of Samsung phone which allow patients to manage DBS treatments at home. This system consists of network-connected smart phone handset as well as hardware for wireless communication with DBS implant by skin. By this product launch, company enhances their brand awareness.
- In August 2019, Boston Scientific Corporation announced FDA sanction of its product Image Ready MRI labelling for Vercise Gevia Deep Brain Stimulation (DBS) system for complete body MRI. By this approval, company enhances their revenue.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for deep brain stimulation systems through expanded model range.
Customization Available: Global Deep Brain Stimulation Systems Market
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