Deep Brain Stimulation Devices Market Size Is Projected to Reach $2.3 Billion by 2028 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, growing awareness about the deep brain stimulation devices and introduction of technologically advanced products is attributing to the growth of market.

The global deep brain stimulation devices market size is anticipated to reach USD 2.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.3% from 2021 to 2028. Surge in incidence of neurological disorders, growing awareness about the deep brain stimulation devices and introduction of technologically advanced products is attributing to the growth of market.

The incidence of neurological disorders such as Parkinson’s disease, epilepsy, and depression is increasing globally, which is anticipated to positively impact the market growth. For instance, according to Depression and Bipolar Support Alliance, around 17.3 million adults in the U.S. are suffering from major depressive disorder. Thus, large number of people suffering from such conditions and disorders is expected to boost market growth during the forecast period.

Potential benefits of Deep Brain Stimulation (DBS) devices such as long-term benefits and better postoperative outcomes, are anticipated to fuel the market growth. Additionally, these advancements help clinical researchers in investigational efficacy studies for the inclusion of DBS devices in the treatment of other neurological disorders. Such factors are expected to raise the demand for DBS devices over the forecast period.

 

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Deep Brain Stimulation Devices Market Report Highlights

On the basis of product, the dual channel segment dominated the market in 2020 with the share of 57.2%. Growing adoption of double-channel DBS devices for treatment of numerous neurological disorders, such as PD, dystonia, Alzheimer’s, and epilepsy driving the segment
Based on application, the Parkinson’s disease segment dominated the market in 2020 with the share of 65.2% owing to rising prevalence of PD globally. According to UCB report, around 100,000 people in Canada are living with PD at present and more than 6,600 new cases are diagnosed each year
In the end-use segment, hospitals dominated the market in 2020 and accounted for the largest revenue share of 52.0% owing to increase in number of DBS surgeries performed in hospitals and surge in prevalence of neurological disorders
North America dominated the market with the highest revenue share of 51.9% in 2020. This is due high prevalence of psychological disorders, availability of highly skilled physicians, and rise in awareness about treatments in this continent

 

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Deep Brain Stimulation Devices Market Segmentation

Grand View Research has segmented the global Deep Brain Stimulation devices market on the basis of product, application, end use, and region:

Deep Brain Stimulation Devices Product Outlook (Revenue, USD Million, 2016 – 2028)

Single Channel
Dual Channel

 

Deep Brain Stimulation Devices Application Outlook (Revenue, USD Million, 2016 – 2028)

Pain Management
Epilepsy
Essential Tremor
Obsessive-compulsive Disorder (OCD)
Depression
Dystonia
Parkinson’s Disease
Others

 

Deep Brain Stimulation Devices End-use (Revenue, USD Million, 2016 – 2028)

Hospitals
Neurology Clinics
Ambulatory Surgical Centers
Research Centers

 

Deep Brain Stimulation Devices Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Russia
Netherlands
Switzerland
Sweden
Ireland
Poland
Asia Pacific
Japan
China
India
Australia
South Korea
Indonesia
Thailand
Philippines
Malaysia
Singapore
Latin America
Mexico
Brazil
Argentina
Colombia
Chile
Venezuela
Middle East and Africa (MEA)
South Africa
Saudi Arabia
UAE
Turkey
Iran

 

List of Key Players of Deep Brain Stimulation Devices Market

Abbott (St. Jude Medical)
Medtronic
Boston Scientific Corporation
Aleva Neurotherapeutics S.A.
Nexstim
LivaNova PLC
Neuropace Inc.

 

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Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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