Deep Brain Stimulation Devices Market Overview:
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. 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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The deep brain stimulation devices market is classified on the basis of application, end user, and region. Based on application, the market is classified into Parkinson’s disease, epilepsy, essential tremor, dystonia, obsessive compulsive disorder, and others. On the basis of end user, the market is categorized into hospitals, ambulatory surgical centers, neurological clinics, and others. Region wise, the deep brain stimulation devices market size is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).
Key Market Players:
The global deep brain stimulation devices market is highly competitive and the prominent players in the market have adopted various strategies for garnering maximum market share. These include collaboration, product launch, partnership, and acquisition. 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.
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Key Benefits for Stakeholders: