Global deep brain stimulators market is
expected to reach USD 1,592.9 million by 2020, according to a new study by
Grand View Research, Inc. Increasing prevalence of Parkinson’s disease
coupled with rising demand for cost effective & minimally invasive surgical
procedures are the factors attributing towards the growth of deep brain
stimulators market. According to statistics published by Parkinson
Disease Foundation, approximately 10 million people were suffering from this
disease in 2010 and the number was anticipated to grow manifolds over the forecast
period thereby contributing to the overall industry growth.
The significant increase in the adoption of DBS by
neurologist for the treatment of Parkinson’s disease, essential tremors,
obsessive compulsive disorder and Dystonia is expected to drive the market
growth in coming years. Pending commercialization approval from the U.S. FDA
for use of DBS in treatment of refractory epilepsy is also expected to boost
the market growth in near future. Furthermore, introduction of technologically
advanced selective current steering and fractionation of electric current is
further expected to enhance the usage of deep brain stimulators in the near
future.
Browse
full report by Grand View Research : http://www.grandviewresearch.com/industry-analysis/deep-brain-stimulators-dbs-market
Further key findings from the study suggest:
·
DBS found wide application in Parkinson’s
disease treatment and is expected to grow at CAGR of above 18.0% due to
associated benefits such as fewer side effects, improvised motor symptoms for
longer time period and tracking of momentary fluctuations. In addition,
shifting of preference from conventional oral medications to DBS, due to drug
resistant nature of Parkinson’s disease is further expected to increase
adoption of DBS over the forecast period.
·
Obsessive compulsive disorder followed
Parkinson’s disease in terms of revenue share due to failure of conventional
serotonin reuptake inhibitors (SSRi) treatment and offered benefits such as
adjustable & reversible stimulations, and nondestructive nature of
treatment.
·
North America held the dominant share,
accounting for over 50.0% in 2013. Presence of sophisticated healthcare
infrastructure, increasing awareness levels of patients and healthcare
personnel and supportive reimbursement policies are some of the key reasons
driving growth of deep brain stimulators regional industry.
·
Asia Pacific region is expected to be
fastest growing market for DBS and grow at CAGR of over 18.0% during the
forecast period. Constantly improving healthcare facility, presence of high
unmet needs and rising expenditure levels are accounted for its significant
growth.
·
Key players of deep brain stimulators
industry include Aleva Neurotherapeutics SA, Boston Scientific Corporation, St.
Jude Medical, and Medtronic Plc. Increasing clinical applications of DBS
systems and extensive R&D pertaining to development of advanced technology
are the factors propelling industrial growth. Players are adopting competitive
strategy such as new product development for sustaining the competition.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has
segmented the global deep brain stimulators market on the basis of application
and region:
Global Deep
Brain Stimulators Application Outlook (Revenue, USD Million, 2012 - 2020)
·
Pain Management
·
Epilepsy
·
Essential Tremor
·
Obsessive Compulsive Disorder (OCD)
·
Depression
·
Dystonia
·
Parkinson’s Disease
·
Others
Deep Brain
Stimulators Regional Outlook (Revenue, USD Billion, 2012 - 2020)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
Japan
·
RoW
o
Brazil
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-deep-brain-stimulators-dbs-market
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
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