The global deep brain stimulation devices market size was US$ 1,318.5 million in 2021. The global deep brain stimulation devices market size is forecast to reach US$ 3033.4 million by 2030, growing at a compound annual growth rate (CAGR) of 9.7% during the forecast period from 2022 to 2030.
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Deep brain stimulation (DBS) device help in reducing Parkinson’s disease symptoms, sometimes referred to as a brain pacemaker (PD). The most popular approach is DBS because it is a reversible surgical procedure and doesn’t involve tissue loss. Electric impulses are generated by the electrodes, which also aid in regulating chemical imbalances in the brain. A neurostimulator and battery that is implanted in the patient’s chest successfully control these impulses. Patients with conditions like Parkinson’s disease, essential tremor, dystonia, epilepsy, and others are treated with DBS.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing Market Growth
? The growing number of patients suffering from involuntary movements associated with Parkinson’s disease, dystonia, and multiple sclerosis drives the global market.
? The emergence of telehealth consults and eHealth apps to routinely monitor PD patients boost the global market growth.
? The growing technical advances, such as robot-assisted implantation, improved microelectrode designs, etc., are forecast to offer lucrative opportunities for the global market.
? The rising demand for minimally invasive surgical procedures and the increasing geriatric population fuel the global market growth.
? The limited availability of skilled healthcare practitioners may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading. This had a direct impact on demand and production, disrupting the supply chain and raising costs for businesses. Additionally, brain procedures have frequently been delayed or even canceled during this time in order to stop COVID-19 from spreading.
Regional Analysis
North America accounted for a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the rise in government funding and initiatives for growing awareness about Parkinson’s disease (PD). In addition, increasing FDA approvals for deep brain stimulators for the treatment of PD, the existence of major competitors, and the availability of well-established healthcare infrastructure.
The Asia Pacific region is forecast to have considerable growth during the forecast period. As a result of the increasing cases of neurodegenerative disorders, the rising demand for effective and long-term solutions, and growing awareness about neurological disease treatment alternatives and advances.
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Leading Competitors
The leading prominent companies profiled in the global deep brain stimulation devices market are:
? Abbott (St. Jude Medical)
? Medtronic
? Boston Scientific Corporation
? Aleva Neurotherapeutics S.A.
? Nexstim
? LivaNova PLC
? Neuropace Inc.
? Other Prominent Players
Scope of the Report
The global deep brain stimulator devices market segmentation focuses on Product, Application, End-User, and Region.
Segmentation based on Product
? Single Channel
? Dual Channel
Segmentation based on Application
? Pain Management
? Epilepsy
? Essential Tremor
? Obsessive Compulsive Disorder (OCD)
? Depression
? Dystonia
? Parkinson’s Disease
? Others
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Segmentation based on End-User
? Hospitals
? Neurology Clinics
? Ambulatory Surgical Centers
? Research Centers
Segmentation based on Region
? North America
? The U.S.
? Canada
? Mexico
? Europe
? Western Europe
? The UK
? Germany
? France
? Italy
? Spain
? Rest of Western Europe
? Eastern Europe
? Poland
? Russia
? Rest of Eastern Europe
? Asia Pacific
? China
? India
? Japan
? Australia & New Zealand
? ASEAN
? Rest of Asia Pacific
? Middle East & Africa (MEA)
? UAE
? Saudi Arabia
? South Africa
? Rest of MEA
? South America
? Brazil
? Argentina
? Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the chemical market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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