(PharmaNewsWire.Com, November 14, 2019 ) According to the latest report by IMARC Group, titled “Deep Brain Stimulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global deep brain stimulation market size grew at a moderate rate. Deep brain stimulation (DBS) refers to a neurosurgical procedure, which involves implanting a medical device called a neurostimulator that sends continuous electrical impulses to specific areas of the brain. The electrodes regulate abnormal impulses and evoke control over the neural activity within the region. It is considered a safe and effective method for treating numerous health conditions, including epilepsy, dystonia, essential tremor, Parkinson’s disease (PD) and obsessive-compulsive disorder (OCD). Apart from this, it is also utilized in the treatment of dementia, addiction, chronic pain, multiple sclerosis, depression, stroke recovery and traumatic brain injury.
Rising incidences of motor and neurological disorders, along with a lack of permanent treatment for neurological conditions such as PD, is one of the primary factors driving the market growth. A rise in the prevalence of stress and depression across the globe is another major growth-inducing factor. Furthermore, enhanced research and development (R&D) activities in the medical sector to develop innovative technologies are also providing a stimulus to the market growth. For instance, the advent of neurostimulators capable of delivering bilateral stimulation with a single device is creating a positive outlook for the market. Other factors contributing to the market growth include increasing geriatric population and rising awareness among the masses regarding the benefits of such procedures. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of around 9% during 2019-2024.
On the basis of the stimulation type, the market has been divided into subthalamic, Globus pallidus, thalamic and pedunculopontine nucleus DBS.
Market Breakup by Product:
1. Single Channel Deep Brain Stimulator
2. Dual Channel Deep Brain Stimulator
Based on the product, the market has been bifurcated into single channel and dual channel deep brain stimulators.
Market Breakup by Application:
1. Parkinson's Disease (PD)
2. Epilepsy
3. Dystonia
4. Obsessive Compulsive Disorder (OCD)
5. Others
On the basis of the application, the market has been classified as PD, epilepsy, dystonia, OCD and others.
Market Breakup by End-User:
1. Hospitals
2. Ambulatory Surgical Centers
3. Neurological Centers
4. Others
Based on the end user, the market has been segregated into hospitals, ambulatory surgical centers, neurological centers and others.
Market Breakup by Region:
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. Latin America
On the geographical front, the market has been categorized into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Competitive Landscape:
The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market. Some of these include Boston Scientific Corporation, Medtronic plc, St. Jude Medical, Inc., Aleva Neurotherapeutics SA, Beijing Pins Medical Co., Ltd., NeuroPace, Inc., NeuroSigma Inc, etc.
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