Deep Brain Stimulation Systems Market is expected to exceed the value of USD 2,122.8 Million by the end of 2027
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Technological advancements in Deep Brain Stimulation (DBS) Systems, significant prevalence of Parkinson’s disease, dystonia
VANCOUVER, BC, CANADA, June 9, 2022 /EINPresswire.com/ -- Deep Brain Stimulation (DBS) Systems Market was valued at USD 1227.5 million in 2019 and is expected to reach USD 2,122.8 million by 2027, at a CAGR of 8.1% according to a new report by Emergen Research. In general, geriatric population suffers from unconscious movements of the body leading to Parkinson’s disease, multiple sclerosis and dystonia. In the United States, more than 60,000 people are diagnosed with Parkinson’s disease each year, with approximately 10 million people presently living with Parkinson’s disease globally.
The report provides an in-depth analysis of the prime driving factors, top investment pockets, top market players, and market segmentation, along with the Covid-19 impact analysis. Moreover, the report offers a thorough analysis of the prime market strategies adopted by top market players that are leading the market to help new industry entrants, shareholders, and stakeholders to formulate lucrative business strategies.
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The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
Abbott, Medtronic, Aleva Neurotherapeutics, NeuroPace, Cyberonics, Boston Scientific Corporation and Fisher Wallace among other companies
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities,
Some of key highlights
Dual channel deep brain stimulation systems product segment accounted for the largest market share of around 57.8%, owing to use of advanced technology and safety features like painless management and wireless recharge to reduce tremors associated with Parkinson’s disease
Due to increase in occurrence unconscious body movements especially in the geriatric population across the globe, Parkinson’s disease application segment of the deep brain stimulation systems dominated the market with market share of approximately 39.7%
Approximately, 930,000 people in total are expected to be suffering from the Parkinson’s disease in the United States by the end of 2020. Thus, the demand for deep brain stimulation systems is set to increase significantly in the coming years with advanced features to minimise the tremors accompanying the disease
Abbott received expanded indication from the U.S FDA, in January 2020, for directional deep brain stimulation system to treat Parkinson’s disease. With this approval the associated product will treat effectively not just Parkinson’s disease but also essential tremor
Furthermore, the report divides the Deep Brain Stimulation Systems market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
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Emergen Research have segmented Deep Brain Stimulation (DBS) Systems Market on the basis of product, application, end use and region:
Product Outlook (Revenue in Million USD; 2017–2027)
Dual Channel
Single Channel
Application Outlook (Revenue in Million USD; 2017–2027)
Fluid Replacement
Parkinson’s Disease
Pain Management
Obsessive-Compulsive Disorder (OCD)
Epilepsy
Essential Tremor
Depression
Dystonia
Other
End Use Outlook (Revenue in Million USD; 2017–2027)
Hospitals
Ambulatory Care Centre
Neurology Centers
Others
The study delivers real answers for questions about market segmentation by types, region and application to power the overall market research for the forecast period. Subject matter experts behind the market analysis have collaborated with some of the highly acclaimed business owners to track records and estimate what is happening in areas such as technology innovation, production volume, end-use and product pricing. Research analysts have further remodeled their approach to present a report uniquely positioned to offer unmatched information on prominent manufactures, new entrants, exiting white spaces, acquisitions and mergers, collaborations and product launches.
𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭
Current and future of global Deep Brain Stimulation Systems market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
Regions/countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
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The global Deep Brain Stimulation (DBS) Systems Market was valued at USD 1227.5 million in 2019 and is expected to reach USD 2,122.8 million by 2027
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