Deep Brain Stimulation Devices Market to Register an Excellent CAGR of 11.6% by 2026; Increasing Prevalence of Neurological Disorders to Accelerate Market Revenue, says Fortune Business Insights™
Pune, India, Dec. 02, 2020 (GLOBE NEWSWIRE) — The global deep brain stimulation devices market size is expected to reach USD 1,676.8 million by 2026, exhibiting a CAGR of 11.6% during the forecast period. The growing awareness among the population concerning various neurological ailments will be a crucial factor in accelerating the deep brain stimulation (DBS) devices market revenue during the forecast period. The market in North America stood at USD 323.4 million in 2018 and is expected to flourish rapidly. The presence of major players in the region will uplift the deep brain stimulation devices market share.INDUSTRY DEVELOPMENTS:February 2019: Medtronic announced the launch of Deep Brain Stimulation (DBS) for medically-refractory epilepsy in the U.S. Such novel product launch will assist the company to broaden its customer base as well as generate more revenue.January 2019: Boston Scientific Corporation has launched the Vercise Gevia and Vercise Primary Cell (PC) Deep Brain Stimulation (DBS) Systems featuring the Vercise Cartesia Directional Lead. This new feature technology is designed to allow specialists and physicians to control the shape, range, direction and position of electrical lead stimulation for the treatment of neurological diseases through highly-personalized therapy.January 2017: Abbott announced the acquisition of St. Jude Medical, Inc.; one of the leading medical device company. Such acquisition enabled the company to expand its medical device portfolio in the deep brain stimulation devices market.
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Unveiling of Vercise Gevia™ Deep Brain Stimulation Systems to Benefit in Revenue GenerationBoston Scientific Corporation, a manufacturer of medical devices used in interventional medical specialties, including interventional radiology and interventional cardiology launched the Vercise™ Primary Cell (PC) and Vercise Gevia™ Deep Brain Stimulation (DBS) Systems featuring the Vercise Cartesia Directional Lead.The new ground breaking systems feature technology designed to allow physicians to control the range, shape, position and direction of electrical stimulation to treat the symptoms of Parkinson’s disease (PD) through highly-personalized therapy and are approved by the U.S. Food and Drug Administration (FDA). The launch of the new systems by Boston Scientific Corporation will boost the deep brain stimulation devices market trends during the forecast period owing to the engineered systems, which allows customized stimulations compared to other devices.
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Rising Patient Pool to Encourage Growth in Asia PacificAsia Pacific is expected to witness the highest growth in the market owing to the growing demand in countries such as Japan, China and India. The increasing disposable income leading to higher healthcare expenditure will also aid growth in the region. Furthermore, the growing awareness regarding various neurological conditions such as epilepsy, essential tremors and Parkinson’s disorder will fuel demand for DBS in Asia Pacific. The increasing number of medical settings such as specialty clinics and multispecialty hospitals is also a major factor stimulating growth in the region.
List of the Major Companies in the Deep Brain Stimulation Devices MarketAbbott (ST. JUDE MEDICAL)MedtronicBoston Scientific CorporationBeijing PINS Medical Co., Ltd.
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Global Deep Brain Stimulation Devices Market Segmentations:By Product Type• Dual Channel Deep Brain stimulators• Single Channel Deep Brain StimulatorsBy Application• Parkinson’s Disease• Dystonia• Essential Tremor• OthersBy End User• Hospitals• Specialty Clinics• OthersBy Geography• North America (U.S. and Canada)• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)• Latin America (Brazil, Mexico, and Rest of Latin America)• Middle East and Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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SECONDARY DATA SOURCES THAT WE REFER TO:Annual reports, investor presentation, SEC filings, and press releases of companies operating in the marketStudies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, ClinicsIndustry journals and paid databasesSECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companiesDetails in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facilityNumber of procedures and average price of proceduresReplacement rate and pricing of capital equipmentMarket dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunitiesMarket & technological trends, new product developments, product pipeline.
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