The U.S. Deep Brain Stimulation In Parkinson’s Disease Market size is expected to reach USD 849.49 million by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.30% from 2022 to 2030. The rising prevalence of neurological conditions, such as Parkinson’s Disease (PD), increasing awareness, positive research outcomes, and growing investments in the development of transcranial stimulators are among the major factors driving the overall U.S DBS devices market.
DBS
devices have been observed to be greatly effective in controlling the tremors
associated with PD. They provide electrical stimulation to the basal ganglia,
which results in suppressed neuronal activity that is generally spontaneous in
patients suffering from PD. Low dopamine levels and other genetic factors are
the main causes of PD. According to the Parkinson’s Foundation, about 1 million
people are expected to be living with PD in the U.S. by 2020. Men are more
susceptible to this disease than women.
Increasing
investments for conducting R&D on PD have helped in raising awareness and
boosting the development of new and innovative products and therapies for the
treatment of this disease. For instance, the National Parkinson Foundation
(NPF) provides funds to researchers and scientists with an aim to make
advancements in this field. Extensive research activities for the inclusion and
approval of deep brain stimulators in new application areas, such as full-body
MRI scans and depression, are anticipated to boost the market growth over the
forecast period. The DBS procedure price in the U.S. is around USD 96,000. It
is expensive as compared with the cost of DBS procedures in countries such as
the U.K. and Japan.
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Release@ U.S.
Deep Brain Stimulation In Parkinson’s Disease Market Report
U.S. Deep Brain Stimulation In Parkinson’s Disease
Market Report Highlights
- By product,
the dual-channel segment accounted for the largest revenue share of over 55.0%
in 2021. Dual-channel DBS offers the best overall support, exhibiting
greater effectiveness in reducing patient tremors and enhancing the
quality of life
- The
single-channel product segment is estimated to register the highest CAGR
over the forecast period. This is due to the cost of dual-channel DBS is
high. Single-channel DBS offers patients suffering from progressed or
complicated PD a chance to recover a part of their motion at a
comparatively lower cost. Single-channel DBS is also easier to program and
it offers greater room for operational flexibility
- The industry
is highly competitive. Market players are adopting various strategies,
including partnerships, mergers and acquisitions, product innovations, and
product launches to improve their position in the market
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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