The global deep brain stimulation (DBS) 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 prevalence of neurological disorders can be a crucial factor augmenting the growth of the market during the forecast period, states 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” the market size stood at USD 696.4 million in 2018.
The report deep brain stimulation (DBS) devices marketincludes:
- Market drivers, latest industry trends and market restraints
- Strategies of companies and competitors
- Accurate data and current market figures
- Regional data in terms of revenue
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Increased Minimally invasive surgeries to Bolster Growth
The market is primarily is driven by the increasing demand for minimally invasive surgeries among patients.The shift from traditional surgical techniques to minimally invasive procedures owing to its benefits, such as faster recovery time span, smaller incisions, reduced scarring, and painwill aid the expansion of the market. The growing cases of dystonia, Parkinson’s disease, and tremors will spur opportunities for the market during the forecast period. Moreover, the growing geriatric population can be an essential factor enabling the growth of the market. As per the National Institutes of Health (NIH), 8.5 percent of people worldwide that is around 617 million people are aged 65 and over. Neurological diseases are commonlyfound in older people, which, in turn, will bolster the growth of the market. In addition, the increasing neurological disorders Parkinson’s disease, Alzheimer’s disease, Dystonia, and others in the aged population will subsequently encourage the growth of the market.
Developed Healthcare Infrastructure to Foster Growth in North America
The market in North America is predicted to witness a significant growth rate during the forecast period. The growth in the region is attributed to developed healthcare infrastructure with advanced facilities. The increasing research and development activities by key players will propel healthy growth of the market in the region. The presence of major companies such as Medtronic, Abbott, Boston Scientific, and others will enable expansion of the market in the region. Asia Pacific is likely to rise tremendously during the forecast period owing to the increasing disposable income in countries such as Japan, China, and India. The increasing healthcare expenditure will further promote the expansion of the market in the region. The growing awareness regarding various neurological conditions such as epilepsy, essential tremors, and Parkinson’s disorder will further encourage the growth of the market in the forthcoming years. The development of specialty clinics and multispecialty hospitals and others. In addition, the growing number of neurologists and medical professionals will further enhance the growth of the market in the region.
For more information visit : https://www.fortunebusinessinsights.com/industry-reports/deep-brain-stimulation-dbs-devices-market-100559
- February 2019: Medtronic unveiled Deep Brain Stimulation (DBS) for medically-refractory epilepsy in the U.S.
- January 2019: Boston Scientific Corporation launched the VerciseGevia and Vercise Primary Cell (PC) Deep Brain Stimulation (DBS) Systems featuring the VerciseCartesia Directional Lead.
The Report Lists the Main Companies in the DBS Devices Market:
- Abbott (ST. JUDE MEDICAL)
- Boston Scientific Corporation
- Beijing PINS Medical Co., Ltd.