Press release
Deep Brain Stimulation Devices Market Size, Company Revenue Share, Key Drivers & Trend Analysis, 2021-2028
Deep Brain Stimulation Devices Market
Recent advancements in neuroimaging has significantly improved Deep Brain Stimulation (DBS) target visualization and facilitated more effective lead localization. Increasing utilization of Magnetic resonance imaging (MRI) and Computed tomography (CT) with DBS is enabling healthcare professionals to create a 3-D image of brain to locate the targeted area to place the electrode and reduce the possibility of any post-operative complications. These novel imaging technologies has allowed major improvements in surgical targeting and post-operative deep brain stimulation programming along with enabling a better understanding of DBS mechanism. Hence, advancements in imaging technology is increasingly allowing healthcare professionals to perform deep brain stimulation more accurately as well as to also avoid the risk of microelectrode recording.
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The field of deep brain stimulation is rapidly evolving with advancements in patient selection, pulse generator technology, electrode, and target identification coupled with the development of more efficient and improved stimulation paradigms such as closed-loop stimulation. Increasing product development and approval of deep brain stimulation devices is expected to boost market growth. Currently, the U.S. Food & Drug Administration (FDA) has approved deep brain stimulation devices of three manufacturers; namely Medtronic PLC, Abbott Laboratories, and Boston Scientific Corporation to treat neurological disorders.
Increasing number of clinical trials to investigate the efficacy of closed-loop or adaptive deep brain stimulation devices is expected to boost growth of the market. A closed-loop deep brain stimulation devices employs a control algorithm to optimize the electrical stimulation parameter according to the brain clinical state. The adaptive deep brain stimulation system potentially can adjust brain stimulation automatically according to patients clinical state and significantly improve clinical outcome. This is expected to boost revenue growth of the market in the near future. However, high cost of deep brain stimulation procedure is expected to limit adoption of DBS devices and restrain market growth to a certain extent over the forecast period.
Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth
Unprecedented revenue growth of the global pharma & healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options - especially in developing countries like India and China - rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
Top Players in the Global Deep Brain Stimulation Devices Market:
Boston Scientific Corporation, Abbott Laboratories, Medtronic PLC, Neuronetics Inc., Beijing PINS Medical Co., Ltd., NeuroPace Inc., Functional Neuromodulation Ltd., Nevro Corporation, LinaNova PLC, and NeuroOne Medical Technologies Corp.
The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma & healthcare industry revenue growth over the recent past.
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Deep Brain Stimulation Devices Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
Single-Channel Deep Brain Stimulator
Dual-Channel Deep Brain Stimulator
Application Outlook (Revenue, USD Billion; 2018-2028)
Parkinson's Disease (PD)
Epilepsy
Essential Tumor
Obsessive Compulsory Disorder (OCD)
Dystonia
Others
End-Use Outlook (Revenue, USD Billion; 2018-2028)
Hospitals
Ambulatory Surgical Centers (ASCs)
Neurological Clinics
Academic and Research Institutes
Global Deep Brain Stimulation Devices Market Report: Regional Segmentation
North America
S.
Canada
Mexico
Europe
Germany
K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA
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Global Deep Brain Stimulation Devices Market: Table of Contents
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary Sources
1.4.2. Secondary Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
Chapter 3. Key Insights
Chapter 4. Global Pharma & Healthcare Market Segmentation
4.1. Global Pharma & Healthcare Market COVID-19 Impact Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Porter's Five Forces Analysis
4.5. Regulatory Framework
4.6. Price trend Analysis
4.7. Competitive Metric Space Analysis
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