North America Deep Brain Stimulation Systems Market By Product Type (Single-Channel Deep Brain Stimulator, Dual-Channel Deep Brain Stimulator), Application (Obsessive Compulsive Disorder, Parkinson’s Disease, Essential Tremor, Epilepsy, Dystonia), Type (Rechargeable, Non-Rechargeable), End User (Hospitals, Ambulatory Surgical Centers (ASCs), Neurological Clinic), By Country (U.S., Canada, Mexico), Market Trends and Forecast to 2027
Market Analysis and Insights: North America Deep Brain Stimulation Systems Market
North America deep brain stimulation systems market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing at a CAGR of 8.5% in the forecast period of 2020 to 2027 and expected to reach USD 1,954.35 million by 2027. Growing acceptance of minimally invasive procedures is the major driver for the growth of the market.
Deep brain stimulation systems is playing significant role to enable doctors to make appropriate deep brain stimulation systems decisions across various levels of health care services. Increasing demand for deep brain stimulation systems is augmenting the market growth as they are used for neurology disorders.
Rising cases of neurological disorders across the world is one of the prominent factors for growth of this market. Neurological disorders include various neurologic diseases which affect the brain and the autonomic and central nervous systems. As per the published article “Incidence and Prevalence of Major Neurologic Disorders” in 2018, around 16.00% people suffered from brain disorders in the U.S. Types of neurological disorders are including, Parkinson’s, Epilepsy, Essential Tremor, Tourette’s syndrome, and others.
This deep brain stimulation systems market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Deep Brain Stimulation Systems Market Scope and Market Size
Deep brain stimulation systems market is segmented on the basis of product type, application and type, end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on product type, the market is segmented into single-channel deep brain stimulator and dual-channel deep brain stimulator. Single-Channel deep brain stimulator is dominating in the market because single channel batteries are affordable and more appropriate as compared to dual channel deep brain stimulator.
- Based on application, the market is segmented into Parkinson’s disease, essential tremor, dystonia, epilepsy, obsessive-compulsive disorder. Parkinson’s disease is dominating in the market because rising incidence of Parkinson’s disease. For instance as per the Parkinson’s Foundation, around 60,000 people suffered from Parkinson’s disease in Americas.
- Based on type, the market is segmented into rechargeable and non-rechargeable. Rechargeable segment is dominating in the market due to greater life expectancy as compared to non-rechargeable batteries.
- Based on end user, the market is segmented into hospitals, ambulatory surgical centers (ASCs), and neurological clinic. Hospitals segment is dominating in the market due to availability of medical staffs and better treatment facilities in the hospitals as compared to others.
Deep Brain Stimulation Systems Market Country Level Analysis
Deep brain stimulation systems market is analysed and market size information is provided by country by specialty, provider and application as referenced above.
The countries covered in the deep brain stimulation systems market report are U.S, Canada and Mexico in North America.
North America is growing with a highest growth rate due to the increased number of geriatric population and increasing healthcare expenditure. The higher healthcare expenditure in U.S. and number research and development created an upsurge demand for the neurology disorders
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Strategic initiatives by market players to Promote Deep Brain Stimulation Systems Market
Deep brain stimulation systems market also provides you with detailed market analysis for every country growth in installed base of different kind of products for deep brain stimulation systems market, impact of technology using life line curves and changes in life science regulatory scenarios and their impact on the deep brain stimulation systems market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Deep Brain Stimulation Systems Market Share Analysis
Deep brain stimulation systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to North America deep brain stimulation systems market.
The major players covered in the report are NeuroPace, Inc, Boston Scientific Corporation, Fisher Wallace,SceneRay Corporation,Limited,Beijing PINS Medical Co., Ltd, ALEVA NEUROTHERAPEUTICS SA, MEDTRONIC, Abbott among other players in North America. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In August 2019, Boston Scientific Corporation announced approval for ImageReady MRI labelling for Vercise Gevia Deep Stimulation system for full body MRI environment. By this product approval, the company enhances their revenue.
- In January2019, Abbott has received CE mark for Bluetooth-enable software. DBS system which delivers MR-conditional labelling with advance feature. By this new designed product, the company enhanced their sales in the market.
Partnership, collaboration and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for deep brain stimulation systems through expanded model range.
Customization Available : North America Deep Brain Stimulation Systems Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.