Deep Brain Stimulation Devices Market is Projected to Booming Growth by 2032, owing to increasing incidence of neurological diseases | insightSLICE
The market for Deep Brain Stimulation Devices is expected to grow from its anticipated value of US$ 1 billion in 2020 to US$ 2.7 billion in 2031, at a CAGR of 9.4%.
An electrical device is implanted in the body as part of a medical procedure known as deep brain stimulation. Specific neurological conditions like Parkinson’s, seizures, essential tremors, ataxia, and others are treated with the use of these devices.
Furthermore, by transmitting an electric signal close to the spine region, deep brain stimulation devices are also utilized to obstruct pain signals.
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The key players of the Global Deep Brain Stimulation Devices Market are:
Functional Neuromodulation, Ltd., Boston Scientific Corporation, Aleva Neurotherapeutics SA, Abbott Laboratories, Medtronic PLC, NeuroPace, Inc., Nevro Corporation, Neuronetics, Inc., Beijing PINS Medical Co., Ltd., Fisher Wallace Laboratories, Inc., and other companies include the major market participants for deep brain stimulation devices worldwide.
Driving factors for the growth of Global Deep Brain Stimulation Devices Market
Increased prevalence of diseases brought on by an unhealthy lifestyle, such as depression and chronic pain, an increase in the number of neurological conditions, as well as investments in neurological research and development, are the main drivers of the global market for deep brain stimulation devices.
The Parkinson’s Disease Foundation states that symptoms of this condition start to appear around the typical age of 60. Another important market for deep brain stimulation devices is turning out to Canada.
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Nevertheless, the market for deep brain stimulation devices is constrained by the availability of other therapeutic options, such as medication and medical procedures. According to end users, the deep brain stimulation devices market for medical clinics in 2019 had the highest level of growth.
Global Deep Brain Stimulation Devices Market Key Segments:
Based on Product Type
- Single Channel
- Dual Channel
Based on Application Type
- Pain Management
- Epilepsy
- Essential Tremor
- Obsessive-compulsive Disorder (OCD)
- Depression
- Dystonia
- Parkinson’s Disease
- Others
Based on End user Type
- Hospitals
- Neurology Clinics
- Ambulatory Surgical Centers
- Research Centers
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
- South America
- Brazil
- Rest of South America
Regional performance of Deep Brain Stimulation Devices Market
A large portion of the global market for deep brain stimulation devices is currently held by the North American region, and this trend is anticipated to continue due to the region’s higher R&D activity, availability of skilled technicians, and wide distribution of advanced technological deep brain stimulation devices.
Additionally, a rise in the occurrence of different neurological illnesses is a factor that supports the market for deep brain stimulation devices in the area.
The fastest growth is anticipated in Asia-Pacific, on the other hand, due to rising healthcare costs and an increase in the prevalence of numerous neurological conditions including epilepsy and others.
Report covers entire market history and gives measurable forecasts:
The year 2020 is used as the historical period for our market report, whereas, 2021 is used as the base year. Simultaneously, we will provide statistics-based forecast from 2022 to 2032 in the report titled “Global Deep Brain Stimulation Devices Market.”
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We will offer the global market dynamics, regional and international trends, and analysis of the key company segments throughout this study. The competitive environment will also be taken into account, and we will present a company overview and a market outlook for the upcoming years in the global Deep Brain Stimulation Devices Market.
The study would also include information on the main market segments’ key developments, global and regional supply chains, sales goals, company plans, R&D initiatives, corporate profiles, and major regulatory roadblocks.
Better quality statistics and expert curated data:
Using modern statistical techniques, the market shares of significant firms in the global Deep Brain Stimulation Devices Market would indeed be determined. Our market report shall primarily concentrate on a detailed analysis of each of these firms’ key business segments and market shares.
The primary competitive data and product offerings will be presented in separate sections. All of the businesses in this industry will have access to strategic data, such as company plans, product portfolios, expansion plans, analyses of strengths and weaknesses, and research initiatives.
The market environment, in addition to national and international regulatory challenges, will be examined in separate parts of the study.
Through a number of distinct sections, including brand portfolio, business strategy, legal guidelines, and clinical studies, this report for the Deep Brain Stimulation Devices Market would provide information necessary to make worthwhile decisions regarding the product launch cycle, strategic alliances, product types, merger and acquisition, partnership deals, regional restrictions, and product licensing.
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