With 9.60 % CAGR, Global Deep Brain Stimulation Device Market Size Worth USD 2.35 Billion in 2030, Growth Plus Reports

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Jul 15, 2022, 09:00 ET

The Global Deep Brain Stimulation Device Market is expected to clock ~US$ 2.35 billion by 2030 as deep brain stimulation devices have incidence an upsurge in the number of patients suffering from neurological diseases fuels the growth of this market.

NEW YORK, July 15, 2022 /PRNewswire/ -- Deep brain stimulation (DBS) delivers electrical currents to the brain through electrodes to control abnormal neural behavior. Increased occurrence of depression, upsurge in the number of patients suffering from involuntary movement ailments, growth in research and development studies in neurological diseases, increase in the acceptance of products with technological progressions, a large geriatric population that is more vulnerable to neurological disabilities are the factors that increase the growth of the global deep brain stimulation market.

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Market Driver

The number of neurological diseases such as Parkinson's disease has increased significantly due to rapidly aging population, change in lifestyle, growth in prevalence of obesity, high blood pressure, and other such factors. According to the World Health Organization (WHO) report published in September 2021, more than 50 million people suffer from epilepsy. Alzheimer's are responsible for 60% - 70% cases of dementia. Dementia affects an estimated 35.6 million people, with 7.7 million new cases diagnosed each year. Due to the rise in patients with such disorders and the increased use of these devices, which make recovery easier, the market for deep brain stimulation devices will experience considerable growth over the forecast period. According to the NCBI, DBS (deep brain stimulation devices) were used on over 160,000 patients worldwide in 2019 for a wide range of neurological and non-neurological conditions, with the number increasing year after year.

Rising research and development initiatives in neuroscience areas are consistently increasing, and many pharmaceutical and biotechnology companies are investing heavily in drug development for neurological disorders. Due to increased focus on addressing the need for effective drug development, the high prevalence of patients with neurological disorders, and the growing geriatric population, market players and government bodies are influencing research in the neurosciences field.

Excerpts from 'By Region'

North America
Europe
Asia Pacific
The Rest of the World

North America dominated the global market in terms of revenue generation. According to the NINDS (National Institute of Neurological Disorders and Stroke: a part of the US National Institute of Health) report updated in April 2022, North America dominated the market due to factors such as the presence of advanced and innovative healthcare infrastructure in this region, high prevalence of neurological disorders such as Parkinson's disease and epilepsy, and government initiatives favoring neurologically affected patients.

Asia Pacific region may also see significant market growth. The increased number of patients suffering from neurodegenerative diseases, as well as growing research into neurological disorders and improved clinical practices are the factors contributing to growth in this region. However, high growth can be observed in Asian countries such as Japan and South Korea, which can promote market development because of the increased number of patients, specific organizations devoted to neurological research etc. have emerged.

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Excerpts from 'Competitive Landscape'

Some of the prominent players operating in the global deep brain stimulation device market by region are:-

Ansoff MATRIX
Boston Scientific Corporation
Abbott Laboratories
Aleva Neurotherapeutics S.A
Medtronic Plc
Neuropace, Inc
Livanova Plc
Nextim Inc
Beijing PINS Medical Co., Ltd
Functional Neuromodulation Ltd
Sapiens Neuro
Among others

Global Deep brain stimulation device Market: Segmentation

By-Products

Single Channel
Dual Channel

By Application

Pain Management
Parkinson's Disease
Epilepsy
Dystonia
Depression
Essential Tremor
Obsessive-Compulsive Disorder
Dementia

By End-User

Hospital
Ambulatory Surgical Center
Neurology Clinics

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