The global Deep Brain Stimulation Devices market size is expected to be worth around US$ 2.8 billion by 2030, according to a new report by Vision Research Reports.
The global Deep Brain Stimulation Devices market size was valued at US$ 1.17 billion in 2020 and is anticipated to grow at a CAGR of 9.5% during forecast period 2021 to 2030.
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 productsis 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.
The dual-channel segment dominated the market for deep brain stimulation devices and accounted for a revenue share of 57.2% in 2020 owing to its higher adoption in surgical procedures. Dual channel are one of the safest and most effective devices used in surgical procedures. Thus, the high prevalence of disabling neurological diseases, an increasing number of surgical procedures for PD, and the growing number of hospitals using dual-channel DBS devices are driving the segment.
However, the single-channel deep brain stimulation device segment is expected to witness the highest CAGR of 9.5% from 2021 to 2028. Healthcare professionals believe that single-channel offers more programming options to neurologists, which led to increased preference for single-channel DBS devices. According to the Parkinson’s Foundation, the geriatric population is more prone to neurological diseases. Thus, the increasing geriatric population, growing awareness about neurological diseases among patients, and preference by healthcare professionals are anticipated to trigger the segment growth.
The Parkinson's disease segment dominated the market for deep brain stimulation devices and accounted for a revenue share of 65.2% in 2020 owing to the increasing number of U.S. FDA approvals for deep brain stimulation therapies and the high prevalence of PD worldwide. In December 2017, Boston Scientific Corporation received approval for the Vercise deep brain stimulation device system from the U.S. FDA for the treatment of PD. According to the Parkinson’s Foundation, around 60,000 people in the U.S. are diagnosed with PD every year. This is expected to drive the segment growth in the coming years.
However, the epilepsy segment is expected to witness the highest CAGR of 16.2% from 2021 to 2028. Growing awareness about advanced treatment options for epilepsy coupled with developing healthcare infrastructure is expected to further fuel segment growth in the coming years. According to the WHO, approximately 50 million people are suffering from epilepsy and it is one of the most common neurological diseases worldwide. deep brain stimulation is used in epilepsy due to the low therapeutic response of medication in seizures and reduced success rates associated with surgeries. This, in turn, will further lead to segment growth.
In the end-use segment, hospitals dominated the market for deep brain stimulation devices and accounted for the largest revenue share of 52.0% in 2020. The growth of this segment can mainly be attributed to the increase in number of DBS surgeries performed in hospitals and the surge in prevalence of Parkinson’s disease, essential tremor. Furthermore, the availability of technologically advanced DBS devices coupled with favorable reimbursement policies is expected to drive the segment during the forecast period. For instance, Medtronic offers comprehensive services to secure and maintain coverage as well as payment for various DBS devices.
However, Ambulatory Surgical Centers (ASC) segment is expected to grow at the highest CAGR of 9.8% from 2021 to 2028. This is due to the lower cost of procedures as compared to hospitals, convenient access for patient care, reduced waiting time, and low infection rate as compared to neurology clinics and hospitals. Furthermore, according to a study conducted by Advancing Surgical Care, 92% of patients were satisfied with the medical care and service provided in the ASCs, thus, boosting segment growth
North America dominated the Deep Brain Stimulation devices market with a share of 51.9% in 2020 owing to an increase in FDA approvals for deep brain stimulation devices in clinical applications. For instance, in 2015, the U.S. FDA approved a deep brain stimulation device, Brio, for the treatment of Parkinson’s disease. Furthermore, an increasing number of patients diagnosed with PD coupled with rising government funding and initiatives for raising awareness about movement disorders is expected to drive the demand for deep brain stimulation devices in the region.
However, Asia Pacific is expected to significantly lead the market for deep brain stimulation devices in the future from 2021 to 2028. This is attributed to the rising prevalence of neurodegenerative disorders coupled with unmet demand for effective and long-term solutions. Rising awareness about neurological disease treatment options and improvements in the clinical development framework of emerging economies is expected to drive the market for deep brain stimulation devices in this region. Moreover, the presence of high growth opportunities in developing countries such as Japan, China, and India are likely to contribute to market growth.
Abbott (St. Jude Medical)
Boston Scientific Corporation
Aleva Neurotherapeutics S.A.
Obsessive Compulsive Disorder (OCD)
Ambulatory Surgical Centers
Middle East and Africa (MEA)
The Deep Brain Stimulation Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Deep Brain Stimulation Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Deep Brain Stimulation Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Deep Brain Stimulation Devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Deep Brain Stimulation Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Deep Brain Stimulation Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Deep Brain Stimulation Devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Deep Brain Stimulation Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Deep Brain Stimulation Devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Deep Brain Stimulation Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Deep Brain Stimulation Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Deep Brain Stimulation Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Deep Brain Stimulation Devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Deep Brain Stimulation Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Deep Brain Stimulation Devices market. These factors have benefited the growth of the global market for Deep Brain Stimulation Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Deep Brain Stimulation Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Deep Brain Stimulation Devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.