Deep Brain Stimulation Devices Market to Generate $2.80 Billion at 15.5% CAGR by 2026
Pune, Maharashtra, India, February 10 2021 (Wiredrelease) Allied Analytics –:Surge in number of patients affected by neurological disorders and increase in neurological R&D activities drive the growth of the global deep brain stimulation devices market. However, side effects and risks related to deep brain stimulation hinders the market growth. Furthermore, implementation of deep brain stimulators for different applications is expected to present new opportunities for market players in near future.
According to the report published by Allied Market Research, the global deep brain stimulation devices market generated $881.9 million in 2018, and is estimated to reach $2.80 billion by 2026, registering a CAGR of 15.5% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
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Deep brain stimulation devices manufacturing companies have been affected to a larger extent due to disrupted supply chain during the Covid-19 outbreak.In addition, most hospitals have been postponing selected procedures and non-urgent clinic visits to conserve hospital resources to treat Covid-19 infected patients and avoid transmission. Due to this, the demand for deep brain stimulation devices has been declied.
The report offers a detailed segmentation of the global deep brain stimulation devices market based on application, end-user, and region.
Based on application, the dystonia segment contributed to the largest share in 2018, accounting for nearly one-sixth of the total share, and is estimated to maintain its dominant position during the forecast period. The research also analyzes segments including parkinson’s disease, essential tremor, epilepsy, obsessive compulsive disorder, and others.
Based on end user, the neurological clinics segment is expected to register the highest CAGR of 15.2% from 2019 to 2026. The report also discusses segment such as hospitals, ambulatory surgical centers, and others.
Based on region, North America contributed the highest share, accounting for nearly two-fifths of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 19.2% from 2019 to 2026.
Leading market players analyzed in the research include Aleva Neurotherapeutics SA, Abbott Laboratories, Functional Neuromodulation Ltd., Boston Scientific Corporation, Medtronic plc, Beijing PINS Medical Co., Ltd., Nevro Corporation, NeuroPace Inc., and Neuronetics Inc..
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