Deep Brain Stimulation Devices Market
Deep Brain Stimulation Devices Market for Parkinson's Disease - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Global Deep Brain Stimulation Devices Market: Snapshot
The rising older populace is relied upon to drive enormous development of minimally invasive procedures during the conjecture time frame. The populace stays vulnerable to different working methodology during medical procedures, and requires a progressively touchy way to deal with treatment. The minimally invasive procedures, and rising cases of disorders such as Parkinson's will guarantee new doors for development for players in the deep brain stimulation devices market. Also, the incitement gadgets can be utilized at cutting edge arranges now, which is required to additionally help their appropriation in not so distant future. The older populace additionally stays defenseless to different symptoms of medication treatment. In addition, the medication treatment likewise ends up being costly by and large. While it is still generally financially savvy when contrasted with deep brain stimulation devices market, the absence of comparable degree of adequacy makes it less suitable practical speculation for patients. This shall also propel the growth of global deep brain stimulation devices market from 2014 to 2020.
- On regional front, the deep brain stimulation devices market is dominated by North America. The area is likely lead development all around, as it is relied upon to involve almost 44.2% of piece of the overall industry in 2020. The area is probably going to observe a prominent CAGR-driven development ascending at 9.3% CAGR by 2020. The developing innovative progressions in the area, streamlining of FDA endorsements, and non-obtrusive nature of the treatment will guarantee new open doors for development in the North America locale.
- The rising interest for gadgets, bolstered with associated IoT gadgets, and propelled mind imaging advances will likewise make new open doors sooner rather than later. Owing to these developments North America shall lead the geographical segmentation of global deep brain stimulation devices market.
Global Deep Brain Stimulation Devices Market: Snapshot
The global deep brain stimulation devices market report promises an overview in the most prominent developments such as treatment of the Parkinson’s disease. According to Parkinson.org, the disease affects over 10 million globally. Moreover, over 60,000 new cases of the disease are diagnosed every day as the population around the world continues to age. The aging population around the world is prominent in most developed countries including the US, Western Europe, Japan, China, among others. The rising awareness of the disease, and FDA approvals for treatment for Parkinson’s disease for deep brain stimulation devices promise new opportunities for players in the market. Additionally, new developments in the market seem promising. These include the news in Medical daily published on Dec 1, 2019, which states that minimally invasive ultrasound waves promise to reduce tremors immediately, and significantly. The development is likely to be a boon for players in the deep brain stimulation devices market.
The forecast in the market remains promising. As per TMR analysis, the deep brain stimulation devices market promises a robust 11% CAGR during 2014 and 2020. The market is likely reach a valuation of $3.2 bn by 2020 end. The growing support of social security for the elderly population, with programs like MediCaid, and growing efficacy of deep brain stimulation will likely drive notable growth in the market during the forecast period.
Rising Elderly Population Drives Growth of Minimally Invasive Procedures
The rising elderly population is expected to drive tremendous growth of minimally invasive procedures during the forecast period. The population remains susceptible to various operating procedures during surgeries, and requires a more sensitive approach to treatment. The invasive nature of surgeries, and lack of many for diseases like Parkinson’s will promise new opportunities for growth for players in the deep brain stimulation devices market. Additionally, the stimulation devices can be used at advanced stages now, which is expected to further boost their adoption in near future. The elderly population also remains susceptible to various side-effects of drug treatment. Moreover, the drug treatment also proves to be expensive in many cases. While it is still relatively cost-effective as compared to deep brain stimulation devices market, the lack of similar level of effectiveness makes it less viable cost-effective investment for patients.
North America Remains Most Promising Region for Growth
Among regions, the deep brain stimulation devices market is divided into North America, Asia Pacific, Latin America, Middle East & Africa, and Europe. The region is likely lead growth globally, as it is expected to occupy nearly 44.2% of market share in 2020. The region is likely to witness a notable CAGR-driven growth rising at 9.3% CAGR by 2020. The growing technological advancements in the region, streamlining of FDA approvals, and non-invasive nature of the treatment will promise new opportunities for growth in the North America region. The rising demand for devices, supported with connected IoT devices, and advanced brain imaging technologies will also create new opportunities in the near future.
Prominent players in the deep brain stimulation devices market are Aleva Neurotherapeutics SA, Boston Scientific Corporation, Medtronic, Inc., and St. Jude Medical, Inc. Growing investment in research, and product innovation is a key development in the competitive scenario.
A rise in the global geriatric population, increasing number of patients suffering from Parkinson’s disease (PD) and growing awareness about neurological movement disorders among patients have triggered the growth of the deep brain stimulation devices market. Globally, neurological disorders are one of the major causes of mortality and account for approximately 12% of deaths per annum. Of these, cerebrovascular diseases account for 85% deaths. Parkinson’s disease is the most common neurological disorder after Alzheimer’s disease. Symptoms associated with this disease include tremors, slowness of movement, muscle stiffness and trouble with balance. Drug therapy is the most effective treatment option available to control PD in the initial stages; however, a large number of medicines are required to control the disease during its advanced stages. In the later stages of PD, surgical treatment using deep brain stimulation (DBS) devices is used to control symptoms of the disease. DBS devices are an effective, clinically proven and legally approved advanced treatment option for mild to severe PD. The market for DBS devices is expected to grow at a significant rate during the forecast period from 2014 to 2020. However, the high cost of the surgical procedure could hamper the growth of the market. The growing burden of PD on health care systems, along with the uncertainty of economic conditions in some developed economies such as the U.S. and Europe has forced original equipment manufacturers (OEMs) to develop cost-effective devices for PD treatment.
This market research report on DBS devices for the treatment of Parkinson’s disease provides detailed analysis of the global market and helps in understanding the driving forces responsible for the growth of the market. The report discusses the market for deep brain stimulation devices for Parkinson’s disease based on prevalence of the disease and the use of these devices to treat PD in four geographical regions: North America, Europe, Asia Pacific and Rest of the World. This report comprises an elaborate executive summary, which includes a market snapshot that provides overall information on various segments and sub-segments that are included in the scope of the study. It also provides overall information and data analysis of the global market for deep brain stimulation devices for Parkinson’s disease with respect to market segments based on geography (i.e., region-wise and country-wise analyses).
The global market for DBS devices for Parkinson’s disease has been segmented with respect to geography. Market size estimates and forecasts for the period from 2012 to 2020 have been provided for each geographical region in terms of revenue (USD million), considering 2012 and 2013 as historical and base years, respectively. The CAGR (%) of each market segment for the forecast period from 2014 to 2020 has also been provided along with market size estimations. The market overview section provides a detailed qualitative analysis of the factors responsible for driving and restraining the growth of the global market for deep brain stimulation devices for the treatment of Parkinson’s disease. The section also covers opportunities, Porter’s five forces analysis as well as market attractiveness analysis and market share analysis of major players in the global DBS devices market.
A list of recommendations has been provided for new entrants and existing market players to help them establish a strong presence in the market and increase their share. The report also profiles the major players in the market for deep brain stimulation devices for Parkinson’s disease based on various attributes. The profiles include company overview, financial overview, business strategies, product portfolio and recent developments. Prominent players profiled in the report include Medtronic, Inc., St. Jude Medical, Inc., Boston Scientific Corporation and Aleva Neurotherapeutics SA.
Global deep brain stimulation devices market for Parkinson’s disease is segmented as follows:
Deep Brain Stimulation Devices Market, By Geography
- North America
- Rest of Europe (RoE)
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Rest of the World (RoW)
- Rest of RoW