Deep Brain Stimulation Equipment Market Grows With Rising Neurological Disorders In South Korea

 


Deep Brain Stimulation Devices Market Overview:

This device is responsible for sending electrical signals to the areas of brain, which are responsible for body movement. Furthermore, the devices which are used to monitor the stimulation of brain are called as deep brain stimulation devices. These devices are used in the treatment of various neurological disorders such as Parkinson's disease, epilepsy, essential tremor, dystonia, obsessive compulsive disorder, and others. In addition, deep brain stimulation devices are also used to block pain signals by sending an electrical impulse near the spine region.

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Rise in prevalence of lifestyle diseases such as depression and chronic pain, increase in number of neurological disorders, and investment for neurological R&D are the factors that drive the growth of the global deep brain stimulation devices market. Moreover, rise in demand for minimal invasive surgery, adoption of technologically advanced products, and surge in aging population also propels the deep brain stimulation devices market growth as they are more susceptible to neurological disorders such as Epilepsy, Parkinson’s disease, Alzheimer’s disease, and chronic pain. The major barriers for the growth of the deep brain stimulation devices market include side effects such as allergic reaction and tingling or prickling of the skin due to implantation of deep brain stimulation device into the body and increase in device cost. However, the availability of other treatment options such as drug therapies and surgeries restrict the growth of the deep brain stimulation devices market.

According to Allied Market Research, the global deep brain stimulation devices market was valued at $881.9 million in 2018, and is projected to reach $2,802.6 million by 2026, registering a CAGR of 15.5%. Deep brain stimulation is defined as a surgery that involves the implantation of an electrical device in the body.

In 2018, North America accounted for the major share of the deep brain stimulation devices market size and is expected to continue this trend, owing to higher number of R&D activities, presence of skilled technicians, and wide availability of technologically advanced deep brain stimulation devices. Moreover, surge in prevalence of various neurological disorders is another factor that boost the deep brain stimulation devices market in the region. On the other hand, Asia-Pacific is estimated to register the fastest growth during the forecast period, owing to rise in healthcare expenditure and surge in prevalence of various neurological disorders such as epilepsy and others.

Major players operating in the market include Abbott Laboratories, Aleva Neurotherapeutics SA, Boston Scientific Corporation, Functional Neuromodulation Ltd., Beijing PINS Medical Co., Ltd., Medtronic plc, NeuroPace Inc., Nevro Corporation, and Neuronetics Inc.

Key Benefits for Stakeholders:

  • Detailed quantitative analysis along with the current global deep brain stimulation devices market trends
  • The deep brain stimulation devices market forecast is studied.
  • The deep brain stimulation devices market size and estimations are based on a comprehensive analysis of key developments.
  • A qualitative analysis based on innovative products facilitates strategic business planning.
  • The development strategies adopted by the key market players are enlisted to understand the competitive scenario.

 

 

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