Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
"Global Deep Brain Stimulation Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 2.12 Bn by 2028, Likely to Grow with the CAGR of 9.61% During the Forecast Period."
In the global market, there is a rise in a number of cases related to involuntary movements associated with dystonia, Parkinson’s disease, and multiple sclerosis and increase in the adoption of minimally invasive treatments are anticipated to propel the market growth. Rises in the demand for minimally invasive methods for the patient’s outcomes are also an increased-influence that is driving the deep brain stimulation (DBS) devices in the global market.
Key factors propelling the growth of market constitute of exponentially increasing geriatric population, it has led to an increased case in the risk associated with prevalence of neurological disorders, increasing demand of related equipment’s, by increasing popularity for minimally invasive treatment, the existence of latest technology for a deep brain stimulation equipment. The Deep brain stimulation (DBS) is extensively applicable in the treatment of advanced Parkinson's disease (PD), essential tremor, and dystonia. In recent decades there is an extension of clinical usage substantiated the market growth Deep Brain Stimulation technology.
Rising healthcare Industry in developing countries to drive the Demand for Deep Brain Stimulation
The healthcare industry is the most admired industry among others due to its significant contribution globally. Government institutions are considerably imposing policies that are favourable to the customers as well as companies. Increasing brain-related illnesses are plunging the demand for deep brain stimulation devices that are contributing to the development of the healthcare industry in the recent years.
Parkinson’s disease Segment held prominent share in Global Deep Brain Stimulation Market in 2019
The key factor propelling the market growth of Deep Brain Stimulation is increasing global cases of Parkinson’s disease. As per the Parkinson’s News in 2018, about 1.2 Mn patients in the U.S. anticipated to increase Parkinson’s disease prevalence by 2030. The disease had registered as the second-most prevalence in the neurodegenerative disorder of the U.S. According to the NHS UK, Parkinson's disease had accounted for affecting approximately 1 in 500 patients, it means that a registered 127,000 patients in the U.K. However, there are many undetected patients related to Parkinson’s disease. The DBS are surgical treatment for Parkinson's disease which is usually treated in patients, encounter Parkinson's disease minimum of four years and exhibited cure from medications are suffering from the motor complexities. Advancement in technology in of DBS, is fuelling the overall growth in the global market.
North America Is expected to dominate the Deep Brain Stimulation Market during the Forecast Period
As per the report of the Parkinson’s Foundation Prevalence Project, about 930,000 patients are anticipated to exhibit Parkinson’s disease in the United States, by the end of 2020. The relevant direct and indirect costs involved in Parkinson’s prevailing in the United States are treatment, disability, and suitable costs, coupled with less income, led to patients’ inability to perform their activities, are accounted to be valuable at US$ 25 Bn annually in the U.S. alone. Therefore a growing burden of Parkinson’s disease in the healthcare system, along with unknown economic scenarios of the United States, has led it to force original equipment manufacturers (OEMs) to propel the cost-effective equipment in the treatment of neurological movement disorders.
Global deep brain stimulation market is consolidated with key players holding a major share of the global deep brain stimulation market. The organizations are contributing to the patients through technologically advanced offerings to compete in the global market.
Key players operating in the global deep brain stimulation market are Abbott Laboratories (St. Jude Medical), Beijing PINS Medical Co. Ltd, Boston Scientific Corporation, Fisher Wallace, Functional Neuromodulation Ltd, Medtronic PLC, NeuroPace Inc., and Renishaw PLC.
Global Deep Brain Stimulation Market Key Segments:
Global Deep Brain Stimulation Market, By Disease
- Pain Management
- Essential Tremor
- Obsessive-Compulsive Disorder (OCD)
- Parkinson’s Disease
Global Deep Brain Stimulation Market, By End-user
- Neurology Clinics
- Ambulatory Surgical Centres
- Research Centres
Global Deep Brain Stimulation Market, By Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America