Global Deep Stimulator Market to exhibit 9.0% CAGR during 2018-2024
Posted On October 30, 2018
Value Market Research has announced its new publication on the Global Deep Stimulator Market. The report contains all the latest information and forecast associated with the market such as the latest trend, factors influencing market dynamics, and analysis of segments. In the end, the report also highlights the competitive landscape of the market. The study reveal that the global deep brain stimulator market was valued USD 750 MN (by revenue) in 2017 and is anticipated to reach USD 1.3 BN by 2024 with a CAGR of 9.0%.
The increasing cases of Parkinson’s disease are the prime factor fueling the demand of this therapy. This procedure does not affect any other part of the brain and has only fewer complication. Also, this device is adjustable and can be as per the person's response to the medication. Thus all these advantages have led to the fast growth of the deep brain stimulator market. But, implantation of the device may even lead to an allergic reaction to the patients which can adversely affect the demand of the product.
The report – ‘‘Global Deep Brain Stimulator Market Report By Type (Single Channel And Dual Channel), Application (Pain Management, Epilepsy, Essential Tremor, Obsessive Compulsive Disorder (OCD), Depression, Dystonia, And Parkinson’s Disease), End-User (Hospitals, Ambulatory Surgical Centers, And Neurological Clinics) And By Regions - Industry Trends, Size, Share, Growth, Estimation, And Forecast, 2017-2024"- is a complete study which covers the current and future market scenario.
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With the rising number of neurological disorder among population especially old-aged people the demand for deep brain stimulator is rising drastically in the market. Deep brain stimulator is a procedure in which stimulating electrodes are placed deep inside the brain. Technically, it is a battery-operated medical device known as neurostimulator which sends electrical signals across specific parts of the brain that control movement and affective disorders like pain, mood, weight, and awakening. Also, this procedure can be used to treat essential tremor, a common neurological movement disorder.
The report contains segmentation based on type, application, end-user, and region. Single channel and dual channel are the two types of deep brain stimulator out of which dual channel deep brain stimulator is gaining hype in the market owing to its rising usage for delivering bilateral stimulation. Deep brain stimulator has application area across pain management, epilepsy, essential tremor, obsessive compulsive disorder (OCD), depression, dystonia, and Parkinson’s disease. Parkinson’s disease is dominating the segment owing to its effective treatment over other conventional treatment. Hospitals, ambulatory surgical centers, and neurological clinics are the end-user of deep brain stimulator market. Hospital is the dominating segment owing to the rising demand for the product across various healthcare centers, increasing healthcare investment by respective body along with the growth in the number of hospitals worldwide. Geographical segmentation covers North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among which, Europe is leading the regional market owing to the reform policy of the European Union for the usage of deep brain stimulation therapy to treat the various neurological disorder.
The Report Segments Global Deep Stimulator Market -
- Single Channel
- Dual Channel
- Pain Management
- Essential Tremor
- Obsessive Compulsive Disorder (OCD)
- Parkinson’s Disease
- Ambulatory Surgical Centers
- Neurological Clinics
- North America
- Latin America
- Middle East & Africa
Key Players Profiled In The Report:
St. Jude Medical, Inc., Boston Scientific Corporation, and Medtronic PLC, Inc.
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