The global Deep Brain Stimulation Devices Market is
anticipated to reach USD 2.50 billion by 2030, according to a new report by
Grand View Research, Inc. It is expected to expand at a CAGR of 9.8% from 2022
to 2030. The surge in incidences of neurological disorders, growing awareness
about deep brain stimulation therapy, and the introduction of technologically
advanced products are attributing to the growth of the market. The COVID-19
outbreak had a negative impact on the market as the majority of elective neuro
procedures including DBS surgery were suspended to free-up limited space in
healthcare settings to treat COVID-19 patients. However, patients suffering
from the COVID-19 - have subsequently shown neurologic symptoms that are
expected to create a favorable environment for the market growth in the coming
years. For instance, as per the study in Lancet, 1 in 3 COVID-19 patients who
recovered have neurological, or mental health disorders. Such instances will
surge the demand for deep brain stimulation (DBS) devices.
The incidence of neurological disorders such as
Parkinson's disease, epilepsy, and depression is increasing globally, which is
expected to positively impact the market growth. For instance, as per the
Depression and Bipolar Support Alliance, about 17.3 million people in the U.S.
are suffering from a major depressive disorder. As a result, a large number of
people suffering from such conditions & disorders is expected to boost the
demand for DBS devices during the forecast period.
Related Press Release@ Deep Brain Stimulation Devices Market Report
Deep Brain Stimulation Devices
Market Report Highlights
- Based on product, the dual channel segment dominated the market in
2021 with a share of 57.12%. Growing adoption of double-channel DBS
devices for the treatment of numerous neurological disorders, such as PD,
dystonia, Alzheimer’s, & epilepsy driving the segment growth.
- Based on application, Parkinson’s disease segment dominated the
market in 2021 with a share of 65.13% owing to the rising prevalence of PD
globally. According to the UCB report, around 100,000 people in Canada are
living with PD, and more than 6,600 new cases are diagnosed yearly.
- In the end-use scope, the hospitals dominated the market in 2021
with a share of 51.88% owing to an increase in the number of DBS surgeries
performed in hospitals and a surge in the prevalence of neurological
disorders.
- North America dominated the market with the highest revenue share
of 51.59% in 2021. This is due high prevalence of psychological disorders,
availability of highly skilled physicians, and rise in awareness about
treatments in this continent.
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View Research, Inc. is a U.S. based market research and consulting company,
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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
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