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Deep Brain Stimulators Market Size to reach US$ 2,319.1 million By 2027 Growing at 12.1% CAGR | GlobalData Plc
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Nov 24, 2022, 3:36 AM ET
LONDON, UK, November 24, 2022 /EINPresswire.com/ -- The global Deep Brain Stimulators market size reached US$ 1,176.1 million in 2021, according to a new report by GlobalData Plc. A deep brain stimulator is a device that is comprised of a brain-oriented pacemaker (an implantable pulse generator) that sends electrical stimulation through surgically implanted electrodes to specific targets in the brain. Deep Brain Stimulators are commonly used to treat movement disorders as well as neuropsychiatric disorders. One unit refers to one deep brain stimulators.
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The burden of neurological disorders-related deaths and disability is increasingly recognized as a global public health challenge, which is expected to rise in the coming decades. The increasing number of neurological cases coupled with increasing awareness to address these issues will directly result in the availability of improvised deep brain stimulators and boost the market growth.
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Deep Brain Stimulators Market Report Highlights
• The global deep brain stimulators market is projected to witness a CAGR of 12.1% from 2022 to 2027, reaching a value of US$ 2,319.1 million. The market is set to gain thrust during the forecast period because of technological advancements and the introduction of innovative products in the space.
• In 2021, the single channel products segment of the deep brain stimulators market is estimated at US$ 708.0 million in 2021 and is forecast to reach US$ 1,410.0 million by 2027, growing at a CAGR of 12.3%.
• The Parkinson’s Disease application segment of the deep brain stimulators market is estimated at US$ 636.3 million in 2021 and is expected to grow up to US$ 1,275.5 million by 2027, growing at a CAGR of 12.4%.
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• The hospital end-user segment of the deep brain stimulators market is estimated at US$ 613.9 million in 2021 and is expected to grow up to US$ 1,225.9 million by 2027, growing at a CAGR of 12.4%.
• The market has witnessed growth due to increasing incidences of neurological diseases coupled with increasing public-private investments and initiatives for deep brain stimulation which will boost the market growth during the forecast period.
• North America closely followed by Europe captured over 47.90% of the overall deep brain stimulators market share in 2021. Vendors in these regions are launching various products, thereby accelerating market growth.
• The deep brain stimulators market key players analyzed as part of this report are Abbott Laboratories (St. Jude Medical Inc), Boston Scientific Corp., Medtronic Plc, and Nexstim Plc., among others
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GlobalData Plc has segmented the deep brain stimulators market report by product, application, end-user, and region:
Global Deep Brain Stimulators Products Outlook (Revenue, USD Million, 2020-2027)
• Single Channel
• Dual Channel
Global Deep Brain Stimulators Applications Outlook (Revenue, USD Million, 2020-2027)
• Parkinson’s Disease
• Essential Tremor
• Obsessive-Compulsive Disorder
Global Deep Brain Stimulators End-user Outlook (Revenue, USD Million, 2020-2027)
• Neurology Clinics
Global Deep Brain Stimulators Regional Outlook (Revenue, USD Million, 2020-2027)
• North America
• Rest of Europe
• Asia Pacific
• Rest of Asia Pacific
Learn about the Deep Brain Stimulators Market Segment-Wise Insights by Viewing Report Sample Right Here!
GlobalData is a leading provider of data, analytics, and insights on the world's largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision-makers to predict and navigate the future. GlobalData's mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on us for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.