Deep Brain Stimulators Market to Garner a CAGR of 12.1% During 2022-2027, Predicts GlobalData Plc

The latest market analysis report titled Deep Brain Stimulators Market Size, Share, and Trends Analysis by Region, Product, Application, End-user, and Segment Forecast, 2022-2027 has been added to the report store by GlobalData Plc. The deep brain stimulator market growth is likely to be driven by the increasing incidences of neurological diseases. Furthermore, surging public-private investments and initiatives for deep brain stimulation coupled with technological advancements and the introduction of innovative products are expected to drive the deep brain stimulator market growth during the forecast period.

Read FREE Sample Report and unlock additional market dynamics

Increasing partnerships and collaborations among market players will emerge as the most prominent deep brain stimulators market trend. Furthermore, rising awareness among consumers and healthcare practitioners about neurological disorders and deep brain stimulators will also promote market growth in the upcoming years. However, complications associated with deep brain stimulation and a lack of skilled and trained professionals are some of the key challenges likely to limit the market’s growth during the next few years.

Request for a FREE Sample Report to Know More About the Key Market Challenges

Deep Brain Stimulators Market Segment Highlights

By Product

• Single Channel: The single channel segment accounted for the larger market share in 2021. Single-channel deep brain stimulation devices provide a safe procedure and significant results in motor issues. Early implantable pulse generators were single-channel devices, which meant that one implantable pulse generator could only accommodate one deep brain stimulation lead, necessitating the use of two separate implantable pulse generators for bilateral lead implantation.
• Dual Channel

By Application

• Parkinson’s Disease: Parkinson’s disease is posing an increasing threat to public health. In recent years, this disease has seen the fastest increase in prevalence and disability among neurological disorders, and it has emerged as one of the leading causes of disability worldwide. The introduction of advanced deep brain stimulation devices for Parkinson’s disease is anticipated to be another prominent factor driving the market growth. For instance, in January 2020, the US FDA granted Abbott Laboratories an expanded indication approval for Abbott’s Infinity DBS, a directional deep brain stimulation system indicated for the treatment of patient suffering from Parkinson’s disease.
• Epilepsy
• Essential Tremor
• Obsessive Compulsive Disorder
• Others

By End-user

• Hospitals: The growing shift from centralized to decentralized testing to provide patient-centric services is leading to an increasing in demand for deep brain stimulators in hospitals. The increasing prevalence of Parkinson’s disease and epilepsy in developing regions such as Asia-Pacific countries propels the adoption of novel technologies in the region.
• Neurology Clinics
• Others

Regional Opportunities

• North America: North America led the deep brain stimulators market in 2021, owing to its high prevalence of neurological diseases and the easy accessibility to treatments in the region. The rising incidences of neurological disorders including migraines, non-migraine headaches, multiple sclerosis, Alzheimer’s disease, and other dementias, Parkinson’s disease, epilepsy, and other neurological illnesses in the US and Canada are likely to further accelerate the demand for deep brain stimulators in the region.
• Europe
• Asia-Pacific
• ROW

Know more about each segment and their contributing share in this PDF Sample

Deep Brain Stimulators Competitive Landscape

Key players operating in the deep brain stimulators market are more focused on organic growth strategies like new product launches and enhancement of existing products, to improve their competitive position and gain further market share. Along with product expansion and enhancement, a few players also adopt inorganic growth strategies such as strategic partnerships, alliances, and collaborations to gain a competitive edge in the market. For instance, in August 2022, Aster Medcity and Medtronic Private Limited, a wholly-owned subsidiary of Medtronic plc collaborated to develop a complete and innovative deep brain stimulation (DBS) program for Parkinson’s patients in India.

Top Deep Brain Stimulator Players:

• Abbott Laboratories: The company discovers, develops, manufactures, and sells a diversified range of healthcare products including branded generic pharmaceuticals, diagnostic systems and tests, and pediatric and adult nutritional products. The company’s St. Jude Medical Infinity DBS System combines advanced directional lead technology and a wireless platform with improved patient comfort. In January 2020, Abbott received approval from the U.S. FDA for a new, extended indication for its Infinity Deep Brain Stimulation (DBS) system to include the targeting of an area of the brain known as the internal globus pallidus (GPi).
• Aleva Neurotherapeutics SA: The company provides neuro-stimulation solutions. The company’s products include deep brain stimulation diagnostic systems and deep brain stimulation systems. Aleva’s deep brain stimulation diagnostic systems offer surgeries that first find brain region using electrophysiological recordings. The company’s key offering includes directSTIM DBS System. The directSTIMTM DBS System contains 2 x 12-electrode leads and is rechargeable.
• Beijing Pins Medical Co. Ltd.: The company is a developer of neuromodulation devices designed to provide an innovative treatment for Parkinson’s disorder, epilepsy, pain, essential tremor, urinary incontinence, and other functional neurological ailments. The company offers Pins Deep Brain Stimulation (DBS) system widely known as a brain pacemaker is approved by the US FDA for the treatment of Parkinson’s disorder, essential tremor, dystonia, and (OCD) obsessive-compulsive disorder.

Other Major Deep Brain Stimulator Companies Include:

• Boston Scientific Corp.
• Functional Neuromodulation Ltd.
• LivaNova Plc
• Newronika SPA
• Medtronic Plc
• Renishaw Plc
• Nexstim Plc
• Neuropace Inc.
• Nevro Corp.
• Neuroentics Inc.
• SceneRay Co. Ltd.
• Cyberonics Inc.

Download Sample PDF Report Copy for Vendor-specific Product Offerings

About GlobalData

GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our mission is to help our clientele ranging from professionals within corporations, financial institutions, professional services, and government agencies to decode the future and profit from faster, more informed decisions. Continuously enriching 50+ terabytes of unique data and leveraging the collective expertise of over 2,000 in-house industry analysts, data scientists, and journalists, as well as a global community of industry professionals, we aim to provide decision-makers with timely, actionable insights.

Tags: deep brain stimulators market share, Deep Brain Stimulators Market, Deep Brain Stimulators Market trends, Deep Brain Stimulators Market analysis, deep brain stimulators market outlook, deep brain stimulators market value, deep brain stimulators market drivers See Campaign: https://www.globaldata.com/store/report/deep-brain-stimulators-market-analysis/

Contact Information:

Mark Jephcott Head of PR EMEA mark.jephcott@globaldata.com cc: pr@globaldata.com +44 (0)207 936 6400

Tags:
Reportedtimes, Financial Content, Extended Distribution, iCN Internal Distribution, Research Newswire, English