Deep Brain Stimulators Market Is Predicted To Grow Swiftly Due To Rising Geriatric Population Prone To Neurological Diseases Till 2020: Grand View Research, Inc.
Global deep brain stimulators market is expected to reach
USD 1,592.9 million by 2020, according to a new study by Grand View Research,
Inc. Increasing prevalence of Parkinson’s disease coupled with rising
demand for cost effective & minimally invasive surgical procedures are the
factors attributing towards the growth of deep brain stimulators market.
According to statistics published by Parkinson Disease Foundation,
approximately 10 million people were suffering from this disease in 2010 and
the number was anticipated to grow manifolds over the forecast period thereby
contributing to the overall industry growth.
The
significant increase in the adoption of DBS by neurologist for the treatment of
Parkinson’s disease, essential tremors, obsessive compulsive disorder and
Dystonia is expected to drive the market growth in coming years. Pending
commercialization approval from the U.S. FDA for use of DBS in treatment of
refractory epilepsy is also expected to boost the market growth in near future.
Furthermore, introduction of technologically advanced selective current
steering and fractionation of electric current is further expected to enhance
the usage of deep brain stimulators in the near future.
Browse full
research report Deep Brain Stimulators Market: http://www.grandviewresearch.com/industry-analysis/deep-brain-stimulators-dbs-market
Further key
findings from the report suggest:
- DBS found wide application in Parkinson’s
disease treatment and is expected to grow at CAGR of above 18.0% due to
associated benefits such as fewer side effects, improvised motor symptoms
for longer time period and tracking of momentary fluctuations. In
addition, shifting of preference from conventional oral medications to
DBS, due to drug resistant nature of Parkinson’s disease is further
expected to increase adoption of DBS over the forecast period.
- Obsessive compulsive disorder followed
Parkinson’s disease in terms of revenue share due to failure of
conventional serotonin reuptake inhibitors (SSRi) treatment and offered
benefits such as adjustable & reversible stimulations, and
nondestructive nature of treatment.
- North America held the dominant share,
accounting for over 50.0% in 2013. Presence of sophisticated healthcare
infrastructure, increasing awareness levels of patients and healthcare
personnel and supportive reimbursement policies are some of the key reasons
driving growth of deep brain stimulators regional industry.
- Asia Pacific region is expected to be fastest
growing market for DBS and grow at CAGR of over 18.0% during the forecast
period. Constantly improving healthcare facility, presence of high unmet
needs and rising expenditure levels are accounted for its significant
growth.
- Key players of deep brain stimulators industry
include Aleva Neurotherapeutics SA, Boston Scientific Corporation, St.
Jude Medical, and Medtronic Plc. Increasing clinical applications of DBS
systems and extensive R&D pertaining to development of advanced
technology are the factors propelling industrial growth. Players are
adopting competitive strategy such as new product development for
sustaining the competition.
Browse more
reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global deep brain stimulators
market on the basis of application and region:
Global Deep
Brain Stimulators Application Outlook (Revenue, USD Million, 2012 - 2020)
- Pain
Management
- Epilepsy
- Essential
Tremor
- Obsessive
Compulsive Disorder (OCD)
- Depression
- Dystonia
- Parkinson’s
Disease
- Others
Deep Brain
Stimulators Regional Outlook (Revenue, USD Billion, 2012 - 2020)
- North
America
- U.S.
- Europe
- Germany
- UK
- Asia
Pacific
- Japan
- RoW
- Brazil
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-deep-brain-stimulators-dbs-market
About Grand
View Research:
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, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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