Deep Brain Stimulation Devices Market to Surpass US$ 1898.4 Mn Threshold by 2027 - Coherent Market Insights

Published On : Aug 29, 2019

The global deep brain stimulation devices market size, by Application (Parkinson's Disease, Essential Tremor, Dystonia, and Others), by End User (Hospital & Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 831.6 Mn in 2018, and is expected to exhibit a CAGR of 9.7% over the forecast period (2020 – 2027), as highlighted in a new report published by Coherent Market Insights.

Key players in the market are focused on launching novel DBS therapies to expand their market share, which is expected to boost the market growth. For instance, in February 2019, Medtronic plc. launched its novel Deep Brain Stimulation (DBS) for medically-refractory epilepsy in the U.S.. The newly launched DBS therapy uses a surgically implanted medical device, similar to a cardiac pacemaker, to deliver electrical stimulation to precisely targeted areas of the brain as adjunctive treatment for several neurological disorders.

Increasing approval of new DBS systems is also expected to boost the market growth. For instance, in 2017, the U.S. Food and Drug Administration approved Vercise Deep Brain Stimulation (DBS) system, developed by Boston Scientific Corporation. The Vercise DBS system is indicated in the treatment of symptoms of PD. DBS works by stimulating a targeted region of the brain through implanted leads that are powered by a device called an implantable pulse generator (IPG). Approval and launch of such advanced devices is expected to boost the global deep brain stimulation devices market growth over the forecast period.

Browse 26 Market Data Tables and 29 Figures spread through 150 Pages and in-depth TOC on Global Deep Brain Stimulation Devices Market, by Application (Parkinson's Disease, Essential Tremor, Dystonia, and Others), by End User (Hospital & Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027

To know the latest trends and insights prevalent in the global deep brain stimulation devices market, click the link below:

https://www.coherentmarketinsights.com/market-insight/deep-brain-stimulation-devices-market-84

DBS devices are used in the treatment of diseases such as epilepsy and Parkinson’s disease. Therefore, high prevalence of these diseases is expected to drive demand for DBS devices, thereby propelling the global deep brain stimulation devices market growth over the forecast period.

For instance, according to the data published by the Parkinson's Foundation, around one million people are expected to suffer from Parkinson's disease (PD) in the U.S. by 2020, and around 60,000 people in the U.S are diagnosed with PD, annually.

According to the data published by Epilepsy Foundation, in 2015, around 3.4 million adults and children have active epilepsy in the U.S. The number increased from 2.3 million adults in 2010 to 3.4 million in 2015.

Key Takeaways of the Global Deep Brain Stimulation Devices Market:

  • The global deep brain stimulation devices market is expected to exhibit a CAGR of 9.7% over the forecast period (2020 – 2027), owing to increasing product launches and approvals and robust pipeline of novel deep brain stimulation devices
  • Increasing prevalence of epilepsy and PD is also expected to boost the market growth. For instance, according to the World Health Organization (WHO), June 2019, around 50 million people suffer from epilepsy worldwide. Moreover, according to the Parkinson's Foundation, over 10 million people worldwide are living with PD.
  • Key players in the market are focused on approval and launch of technologically advanced products. For instance, in 2017, Medtronic plc. received CE Mark approval in the European Union for its SureTune3 deep-brain stimulation software, which is designed to map lead locations and indicate the level of stimulation.
  • Furthermore, key players in the market are focused on adopting strategic partnerships and collaborations for the development and commercialization of novel deep brain stimulation devices. For instance, in 2015, Boston Scientific Corporation collaborated with Brainlab AG. According to the agreement, Boston Scientific would distribute Brainlab DBS surgical planning portfolio with the Boston Scientific Vercise DBS System in select countries.
  • Major players operating in the global deep brain stimulation devices market include, Boston Scientific Corporation, Medtronic, Inc., St. Jude Medical, Inc. (Abbott Laboratories), Cyberonics, Inc., Neuronetics, and Aleva Neurotherapeutics SA.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, 
#3200 
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

Coherent Market Insights Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.