New York, NY, Feb. 08, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Deep Brain Stimulation Devices Market by Product (Single Channel Deep Brain Stimulator and Dual Channel Deep Brain Stimulator), by Application (Chronic Pain, Dystonia, Essential Tremor, Depression, Obsessive Compulsive Disorder, Epilepsy, Parkinson’s Disease, and Others), and by Battery Type (Rechargeable and Non-Rechargeable): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2025”. According to the report, the global deep brain stimulation devices market was valued at approximately USD 1,100 million in 2018 and is expected to generate around USD 2,196 million by 2025, at a CAGR of around 10.4% between 2019 and 2025.
The growing awareness among patients about various neurological disorders, increasing number of Parkinson’s patients, and rising incidences of Alzheimer’s in the geriatric population are anticipated to propel the deep brain stimulation devices market globally in the future. The increasing prevalence of neurological disorders is the major cause of death, which accounts for almost 12–13% deaths annually. Out of this, the cerebrovascular diseases account for almost 82% deaths. Parkinson’s disease is the most common neurological disorders followed by Alzheimer’s. The preference given by professionals to deep brain stimulation devices over drug therapies is likely to further boost the global deep brain stimulation devices market in the future. However, the risk of infection and high costs associated with the use of these devices might hinder the deep brain stimulation devices market on a global scale.
Browse through 54 Tables & 30 Figures spread over 110 Pages and in-depth TOC on “Global Deep Brain Stimulation Devices Market: By Device Type, Size, Share, Industry Trends, Analysis and Forecast, 2018—2025”.
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The global deep brain stimulation devices market is segmented on the basis of product, application, and battery type. By product type, the deep brain stimulation devices market is bifurcated into a single channel and dual channel deep brain stimulators. The dual channel deep brain stimulators are gaining traction in the global market due to their increased usage in delivering bilateral stimulation, long-term efficacy, and better management of postoperative outcomes. The application segment of this market includes chronic pain, dystonia, essential tremor, depression, obsessive-compulsive disorder, epilepsy, Parkinson’s disease, and others (Alzheimer’s, tinnitus, etc.). Parkinson's disease held the major share in the global deep brain stimulation devices market in 2017. This disease is one of the common neurodegenerative disorders with very few treatment options. With the rise in the number of patients in the U.S., FDA approvals for deep brain stimulation therapies for treating Parkinson’s disease are rising. Moreover, the long-term costs associated with medications and treatment for Parkinson’s disease has led to the increased adoption of deep brain stimulation devices. By battery type, the global market includes rechargeable and non-rechargeable batteries. The rechargeable battery segment held a major share of the deep brain stimulation devices market in 2017, as the device directly changes brain activity in a very controlled manner and its effects are reversible.
North America dominated the global deep brain stimulation devices market in 2018, owing to the high-quality standards maintained by the medical device manufacturers, increasing cases of Parkinson’s disease, high demand for advanced devices, increasing geriatric population, and rising disposable income of the regional population. As per the Parkinson's Disease Foundation, symptoms of this disease are common at an average age of 60. Canada is another important country for deep brain stimulation devices market. As per the Parkinson’s Society Canada, around 100,000 people in Canada suffer from Parkinson’s. This disease affects about 1% population above 60 years and 2% people above 70 years. Canada’s healthcare system has thus executed publicly funded insurance program where both the doctors and hospitals control the treatment costs.
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Europe is the second largest deep brain stimulation devices market globally, due to the increasing investments made by key players for R&D and continuous innovation in medical technology.
The Asia Pacific region is also expected to be a lucrative regional market in the future, owing to the growing prevalence of niche Alzheimer’s in China. Additionally, Thailand, India, Taiwan, and Singapore have proven to be major medical tourism destinations due to low surgery cost and the presence of highly efficient healthcare professionals. Furthermore, high investments made in research and development activities and the rising preference for clinical trials by leading players in the deep brain stimulation devices market due to the availability of labor at economical prices in the region is also likely to boost the region’s deep brain stimulation devices in the future.
Browse the full “Deep Brain Stimulation Devices Market by Product (Single Channel Deep Brain Stimulator and Dual Channel Deep Brain Stimulator), by Application (Chronic Pain, Dystonia, Essential Tremor, Depression, Obsessive Compulsive Disorder, Epilepsy, Parkinson’s Disease, and Others), and by Battery Type (Rechargeable and Non-Rechargeable): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2025” Report at https://www.zionmarketresearch.com/report/deep-brain-stimulation-devices-market
The Middle Eastern and African and Latin American regions are estimated to be the most potential markets for deep brain stimulation devices in the future. This can be attributed to the growing number of research activities and opportunities provided by the government to companies for developing new products for improved patient healthcare, particularly in South Africa and Brazil.
Some leading players of the global deep brain stimulation devices market include Boston Scientific Corporation, Medtronic, Inc., Aleva Neurotherapeutics SA, and St. Jude Medical, Inc., among others.
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This report segments the global deep brain stimulation devices market into:
Global Deep Brain Stimulation Devices Market: Product Analysis
- Single Channel Deep Brain Stimulator
- Dual Channel Deep Brain Stimulator
Global Deep Brain Stimulation Devices Market: Application Analysis
- Chronic Pain
- Dystonia
- Essential Tremor
- Depression
- Obsessive Compulsive Disorder
- Epilepsy
- Parkinson’s Disease
- Others (Alzheimer’s, Tinnitus, etc.)
Global Deep Brain Stimulation Devices Market: Battery Type Analysis
- Rechargeable
- Non-Rechargeable
Global Deep Brain Stimulation Devices Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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