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Deep brain stimulation devices Market Size, Share and Global Industry Trend Forecast till 2026

May 13th 2020 at 2:53 AM

The global deep brain stimulation devices market size is expected to reach USD 1,676.8 million by 2026, exhibiting a CAGR of 11.6% during the forecast period. The growing awareness among the population concerning various neurological ailments will be a crucial factor in accelerating the deep brain stimulation (DBS) devices market revenue during the forecast period. In addition, the increasing cases of epilepsy around the world will fuel demand for deep brain stimulation devices in the forthcoming years. According to the World Health Organization, Epilepsy is a chronic non-communicable disease of the brain that affects people of all ages.Around 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. In addition, the increasing prevalence of neurological diseases in low and middle-income countries will propel the growth of the market in the foreseeable future. For instance, as per the World Health Organization survey, nearly 80% of people with epilepsy live in low- and middle-income countries.

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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Please visit: https://www.fortunebusinessinsights.com/industry-reports/deep-brain-stimulation-dbs-devices-market-100559

According to the report, published by Fortune Business Insights in a report, titled “Deep Brain Stimulation (DBS) Devices Market Size, Share & Industry Analysis, By Product Type (Dual Channel Deep Brain stimulators, Single Channel Deep Brain Stimulators), By Application (Parkinson's Disease, Dystonia, Essential Tremor, Others), By End User (Hospitals, Specialty Clinics, Others) and Regional Forecast, 2019-2026”states that the value of the market stood at USD 696.4 million in 2018. The report further shares the following information:

· Comprehensive analysis of the upcoming trends and prospects in the market;

· 360-degree evaluation of the factors driving and restraining market growth;

· Detailed research into the regional and competitive landscape influencing the market;

Careful study of the market segments.

Rising Patient Pool to Encourage Growth in Asia Pacific

Asia Pacific is expected to witness the highest growth in the market owing to the growing demand in countries such as Japan, China and India.  The increasing disposable income leading to higher healthcare expenditure will also aid growth in the region.  Furthermore, the growing awareness regarding various neurological conditions such as epilepsy, essential tremors and Parkinson’s disorder will fuel demand for DBS in Asia Pacific. The increasing number of medical settings such as specialty clinics and multispecialty hospitals is also a major factor stimulating growth in the region. The market in North America stood at USD 323.4 million in 2018 and is expected to flourish rapidly. The presence of major players in the region will uplift the deep brain stimulation devices market share.

Some of the Major Companies in the Deep Brain Stimulation (DBS) Devices Market

· Abbott (ST. JUDE MEDICAL)

· Medtronic

· Boston Scientific Corporation

· Beijing PINS Medical Co., Ltd.

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