The global deep brain stimulation monitoring market was valued at $881.9 million in 2018, and is projected to reach $2,802.6 million by 2026, registering a CAGR of 15.5%.Deep brain stimulation is an electrical process of stimulating, inhibiting, modifying, regulating, and altering the activity in the central, autonomous, or peripheral nervous system in the human body. Deep brain stimulation devices send electrical impulse to the spine region wherein these signals block the pain signals from reaching the brain. These devices deliver electrical stimulation to the patient’s brain, spinal cord, and peripheral nervous system. Deep brain stimulation monitoring devices are particularly used for the treatment of neurological disorders such as epilepsy, chronic pain, Parkinson’s disease, depression, and other diseases. Advancements in the neurological technologies is delivering relief to the patients affected by psychiatric and neurological disorders.
According to the data published by WHO, there are around 50 million cases of dementia across the globe among which 60-70% is Alzheimer’s and 10 million are added every year. Dementia is the fifth leading cause of death worldwide. Furthermore, the incidence rate for Parkinson’s disease is 4.5-19 per 100,000 population every year.
Rise in The prevalence of lifestyle diseases such as depression and chronic pain, increase in number of neurological disorders, and investment for neurological R&D are the factors that drive the growth of the global deep brain stimulation devices market. Moreover, rise in demand for minimal invasive surgery, adoption of technologically advanced products, and surge in aging population also propels the growth of the market as they are more susceptible to neurological disorders, such as Epilepsy, Parkinson’s disease, Alzheimer’s disease, and chronic pain. The major barriers for the growth of the deep brain stimulation devices market are side effects such as allergic reaction and tingling or prickling of the skin due to implantation of deep brain stimulation device into the body and an increase in device cost. However, availability of other treatment options such as drug therapies and surgeries restrict the growth of the market.
The deep brain stimulation devices market is classified on the basis of application, enduser, and region. Based on application, the market is classified into Parkinson's disease, epilepsy, essential tremor, dystonia, obsessive compulsive disorder, and others. On the basis of application, it is categorized into hospitals, ambulatory surgical centers, neurological clinics, and others. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players operating in the deep brain stimulation devices market include Abbott Laboratories, AlevaNeurotherapeutics SA, Boston Scientific Corporation, Functional Neuromodulation Ltd., Beijing PINS Medical Co., Ltd., Medtronic plc, NeuroPace Inc., Nevro Corporation, and Neuronetics Inc. The other companies operating in the market are Electro Medics, ElectroCore, Neuros Medical, ElectroCore LLC, NeuroMetrix, EnteroMedics Inc., Neuronetics Inc., and SPR Therapeutics.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Application
By End User
By Region
LIST OF KEY PLAYERS PROFILED IN THE REPORT
According to the data published by WHO, there are around 50 million cases of dementia across the globe among which 60-70% is Alzheimer’s and 10 million are added every year. Dementia is the fifth leading cause of death worldwide. Furthermore, the incidence rate for Parkinson’s disease is 4.5-19 per 100,000 population every year.
Rise in The prevalence of lifestyle diseases such as depression and chronic pain, increase in number of neurological disorders, and investment for neurological R&D are the factors that drive the growth of the global deep brain stimulation devices market. Moreover, rise in demand for minimal invasive surgery, adoption of technologically advanced products, and surge in aging population also propels the growth of the market as they are more susceptible to neurological disorders, such as Epilepsy, Parkinson’s disease, Alzheimer’s disease, and chronic pain. The major barriers for the growth of the deep brain stimulation devices market are side effects such as allergic reaction and tingling or prickling of the skin due to implantation of deep brain stimulation device into the body and an increase in device cost. However, availability of other treatment options such as drug therapies and surgeries restrict the growth of the market.
The deep brain stimulation devices market is classified on the basis of application, enduser, and region. Based on application, the market is classified into Parkinson's disease, epilepsy, essential tremor, dystonia, obsessive compulsive disorder, and others. On the basis of application, it is categorized into hospitals, ambulatory surgical centers, neurological clinics, and others. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players operating in the deep brain stimulation devices market include Abbott Laboratories, AlevaNeurotherapeutics SA, Boston Scientific Corporation, Functional Neuromodulation Ltd., Beijing PINS Medical Co., Ltd., Medtronic plc, NeuroPace Inc., Nevro Corporation, and Neuronetics Inc. The other companies operating in the market are Electro Medics, ElectroCore, Neuros Medical, ElectroCore LLC, NeuroMetrix, EnteroMedics Inc., Neuronetics Inc., and SPR Therapeutics.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
- The key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.
KEY MARKET SEGMENTS
By Application
- Parkinson's Disease
- Epilepsy
- Essential Tremor
- Dystonia
- Obsessive Compulsive Disorder
- Others
By End User
- Hospitals
- Ambulatory Surgical Centers
- Neurological Clinics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- Australia
- Japan
- India
- China
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- Abbott Laboratories
- Aleva Neurotherapeutics SA
- Boston Scientific Corporation
- Functional Neuromodulation Ltd.
- Beijing PINS Medical Co., Ltd.
- Medtronic plc
- NeuroPace Inc.
- Nevro Corporation
- Neuronetics Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DEEP BRAIN STIMULATION MONITORING DEVICES MARKET, BY APPLICATION
CHAPTER 5: DEEP BRAIN STIMULATION MONITORING DEVICES MARKET, BY END USER
CHAPTER 6: DEEP BRAIN STIMULATION MONITORING DEVICES MARKET, BY REGION
CHAPTER 7: COMPANY PROFILES
Executive Summary
According to this report titled, 'Global Deep Brain Stimulation Devices Market by Application and End User: Opportunity Analysis and Industry Forecast, 2018-2026,' the global deep brain stimulation devices market was valued at $881.9 million in 2018, and is projected to reach $2,802.6 million by 2026, registering a CAGR of 15.5%.Deep brain stimulation is a type of neurostimulation, which involves activation of the brain using electric stimulation. The deep brain stimulation devices consist of small electrodes that are attached to the brain. Furthermore, lack of permanent treatment for conditions such as Parkinson’s disease and risk in physically accessing the brain create the need for deep brain stimulation devices. Moreover, increase in geriatric population, rapid rise in incidences of epilepsy, essential tremors, and an increase in cases of Alzheimer’s and Parkinson’s disease supplement the developments in the growth of global deep brain stimulation devices market during the analysis period. The new applications of deep brain stimulation devices for the treatment of Alzheimer’s disease and tinnitus have created opportunities for new as well as existing players in the market. Furthermore, the preference for deep brain stimulation techniques by professionals over drug therapy (which results in numerous side effects) is expected to boost the demand for global deep brain stimulation devices.
Rise in The prevalence of lifestyle diseases such as depression and chronic pain, increase in number of neurological disorders, and investment for neurological R&D are the factors that drive the growth of the global deep brain stimulation devices market. Moreover, rise in demand for minimal invasive surgery, adoption of technologically advanced products, and surge in aging population also propels the growth of the market as they are more susceptible to neurological disorders, such as Epilepsy, Parkinson’s disease, Alzheimer’s disease, and chronic pain. The major barriers for the growth of the deep brain stimulation devices market are side effects such as allergic reaction and tingling or prickling of the skin due to implantation of deep brain stimulation device into the body and an increase in device cost. However, availability of other treatment options such as drug therapies and surgeries restrict the growth of the market.
The deep brain stimulation devices market is classified on the basis of application, end user, and region. Based on application, the market is classified into Parkinson's disease, epilepsy, essential tremor, dystonia, obsessive compulsive disorder, and others. On the basis of application, it is categorized into hospitals, ambulatory surgical centers, neurological clinics, and others. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
According to Onkar Sumant, Assistant Manager, Healthcare, “The growth in global deep brain stimulation devices market is due torise in The prevalence of neurological disorders across the globe and surge in R&D expenditure for neurological disorders. Furthermore, increase in research in the fields of neurology is expected to boost the growth of deep brain stimulation devices market.”
KEY MARKET BENEFITS
- This report entails a detailed quantitative analysis along with the current deep brain stimulation devices market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
- The market forecast is studied from 2019 to 2026.
- The market size and estimations are based on a comprehensive analysis of key developments in the industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to underst and the competitive scenario of the market.
Comprehensive competitive analysis and profiles of major market players such as Abbott Laboratories, Aleva Neurotherapeutics SA, Boston Scientific Corporation, Functional Neuromodulation Ltd., Beijing PINS Medical Co., Ltd., Medtronic plc, NeuroPace Inc., Nevro Corporation, and Neuronetics Inc.
Companies Mentioned
- Abbott Laboratories
- Aleva Neurotherapeutics SA
- Boston Scientific Corporation
- Functional Neuromodulation Ltd.
- Beijing PINS Medical Co. Ltd.
- Medtronic plc
- NeuroPace Inc.
- Nevro Corporation
- Neuronetics Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 204 |
| Published | March 2020 |
| Forecast Period | 2018 - 2026 |
| Estimated Market Value ( USD | $ 881.9 million |
| Forecasted Market Value ( USD | $ 2802.6 million |
| Compound Annual Growth Rate | 15.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
