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Deep Brain Stimulation Devices Market Size

Report ID: GMI3921
Published Date: Jul 2022
Report Format: PDF

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Deep Brain Stimulation Devices Market Size

Deep Brain Stimulation Devices Market size surpassed USD 1.1 billion in 2021 and is expected to witness 14.1% CAGR through 2022 to 2030, driven by the increasing demand for minimally invasive surgical procedures and rising geriatric population. As technology continues to progress, overall treatment efficacy will also continue to improve.

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Deep brain stimulation devices are used to provide treatment for movement disorders associated with Parkinsons disease (PD), dystonia, essential tremor, and other neurological disorders. This technique is gaining popularity as an effective treatment modality, especially in conditions that cannot be treated with medications alone.

Deep Brain Stimulation Devices Market Report Attributes
Report Attribute	Details
Base Year:	2021
Deep Brain Stimulation Devices Market Size in 2021:	USD 1.2 Billion
Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	14.1%
2030 Value Projection:	USD 4.0 Billion
Historical Data for:	2017 to 2021
No. of Pages:	100
Tables, Charts & Figures:	133
Segments covered:	Application, End-use and Region
Growth Drivers:	Increasing demand for minimally invasive surgery in developed countries Rising prevalence of neurological disorders globally Technological advancements in deep brain stimulation devices Increasing number of elderly patients with neurological disorders
Pitfalls & Challenges:	Complications associated with deep brain stimulation Lack of skilled healthcare practitioners

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Deep brain stimulation technique has been approved by the U.S. FDA (Food and Drug Association) for treatment of Parkinsons disease (PD), obsessive-compulsive disorder, dystonia, and epilepsy, which enhances its overall industry demand. While the impact of COVID-19 has mostly been negative in several sectors, the market witnessed a moderately negative impact. Due to the increasing number of COVID-19 cases, lockdown and limited access to hospitals, and fewer patient visits, industry revenues have been impacted adversely.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Rising geriatric population and the subsequent growth in the occurrence of neurological disorders across the globe will foster deep brain stimulation devices market size by 2030.

Parkinson's disease, which affects more than 10 million people globally, is expected to emerge as a major determinant fueling DBS devices adoption across the world.

The hospitals end-use segment accounted for over USD 906 million in 2021; driven by the increasing number of patients preferring hospitals due to their better treatment facilities, the segment is slated to witness notable gains by 2030.

Driven by increasing neurological disorders, rising product approvals from the FDA, high R&D expenditure, and technological advancements, the North America DBS devices market would emerge as a key regional growth ground for the overall market.