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According to a new report Global Deep Brain Stimulation Devices Market, published by KBV research, The Global Deep Brain Stimulation Devices Market size is expected to reach $2.3 billion by 2025, rising at a market growth of 16.1% CAGR during the forecast period.
The Parkinson's disease segment recorded a dominant market share in the application segment during the base year of the study. Boston Scientific Corporation obtained approval from the US FDA for treating PD in December 2017 for the Vercise Deep Brain stimulation device system FDA for treating PD. The Obsessive Compulsive Disorder (OCD) sub-segment is predicted to experience the high CAGR over the forecast period. Through OCD occurrence and less successful treatments such as inhibitors of serotonin reuptake are anticipated to increase demand for long-term impact treatment options.
In the end-use segment, in 2019, hospitals recorded a major market share in the market. The dominant market share has been associated with the adoption of technologically advanced deep brain stimulation devices in operation theatres and intensive care units, growing numbers of deep brain stimulation operations, and rising PD prevalence. In addition, favourable reimbursement requirements are expected to further fuel the growth of hospitals.
The Asia Pacific region is projected to grow at the highest CAGR over the forecast period due to factors like increased prevalence of neurodegenerative disorders coupled with unmet demand for efficient and long term solutions. Growing recognition of treatment options for neurological disease and developments in the clinical development environment of emerging economies is expected to drive market growth in this region.
Structural Insights: https://www.kbvresearch.com/deep-brain-stimulation-devices-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Abbott Laboratories, Medtronic PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA, Functional Neuromodulation, Ltd., Beijing PINS Medical Co., Ltd., NeuroPace, Inc., Nevro Corporation, Neuronetics, Inc., and Fisher Wallace Laboratories, Inc.
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