According to analysts at Transparency Market Research (TMR), the global deep brain stimulation devices market is estimated to register growth at a CAGR of 5.1% during the forecast period from 2021 to 2028.
In recent years, there has been a rise in prevalence of different neurological disorders, including Alzheimer’s disease, ischemic stroke, trauma, Parkinson’s disease, and tremors across the globe. As a result, the demand for deep brain stimulation devices has been on the rise, which, in turn, is leading to revenue-generation opportunities in the global deep brain stimulation devices market.
The popularity of non-invasive surgical procedures is also increasing among people across the globe, owing to different advantages of these surgeries including faster recovery time. Hence, players operating in the deep brain stimulation devices market are experiencing profitable prospects in many developed and developing nations.
Healthcare professionals and patient population across the globe are increasingly adopting surgical DBS devices instead of drug therapy owing to rise in understanding about the side effects of the latter. This factor is generating sizable business avenues in the deep brain stimulation devices market.
The global deep brain stimulation devices market in North America is prognosticated to gain sizable business prospects during the forecast period due to factors such as increasing older population and rising number of surgical procedures requiring DBS devices in the treatment of the Parkinson’s disease. Moreover, the North America deep brain stimulation devices market is likely to gain advantage due to other important factors, such as favorable reimbursement policies by regional governments and rise in healthcare spending by regional population.
Deep Brain Stimulation Devices Market: Key Findings
• Players operating in the global deep brain stimulation devices market are increasing R&Ds in order to improve the overall functioning of their products, specifically battery longevity. Moreover, deep brain stimulation device manufacturers are also focused on advancing different patient-related factors including consistency in nightly device shutoff and dependability on IPG recharging.
• Many enterprises in the deep brain stimulation devices market are launching innovative, portable, user-friendly, cost-effective, and highly efficient devices. Moreover, many companies are focusing on making their products available on a commercial basis. Such efforts are propelling the global market, note analysts at TMR.
• Many deep brain stimulation device producers are concentrating on the incorporation of device-specific features, including choice of lead configuration, parameter delivery, and implantation location. Similarly, they are vigilant selection of electrode materials to reduce impedance mismatch. These factors are expected to favor the growth of the global deep brain stimulation devices market in the years ahead.
Deep Brain Stimulation Devices Market: Growth Boosters
• Increase in the number of people suffering from neurological disorders across major parts of the globe is expected to drive business opportunities in the deep brain stimulation devices market
• Rise in elderly population globally is resulting in increased instances of neurological disorders. This factor is boosting the demand for deep brain stimulation devices, which, in turn, is fueling the market growth.
• Government authorities of several developed and developing nations are providing attractive reimbursement policies pertaining to healthcare facilities. This factor is driving sales growth of the global deep brain stimulation devices market, notes the TMR study.