Deep Brain Stimulation Market Scope and Key Players Analysis by 2030
Deep Brain Stimulation Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 603.52 Million |
| Market Size by 2030 | US$ 1,155.37 Million |
| Global CAGR (2022 - 2030) | 8.5% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
COVID-19 Impact:
Brain surgeries were postponed or even canceled to reduce the transmission of COVID-19. According to the Prime Minister’s Decree of March 2020, the containment measures in Italy led to a reduction in routine hospital activities. In the worst-affected nations, such as the US, India, Brazil, France, the UK, Italy, and Spain, neurosurgical operations fell by 55%. The COVID-19 pandemic negatively impacted the deep brain stimulation market. In December 2020, according to the report of the National Center of Biotechnology Information, lockdown restriction measures confined people to their homes and recorded subjective worsening of motor and psychiatric symptoms, such as sleeping problems in patients suffering from Parkinson’s Disease and dystonic patients and being treated with DBS. The restrictions led to an increased burden of neurological disease and chronic stress related to DBS management. With the ease of lockdown restrictions, healthcare professionals recommenced the resumption of brain surgeries. Globally increased activities in tele-consultancy for follow-up and routine check-ups to address the symptoms of PD patients in the post-pandemic period are playing a key role in increasing the demand for treatment options such as deep brain stimulation. Thus, such trends are expected to impact the adoption of DBS in the coming years and continue to grow significantly during the forecast period.
Competitive Landscape and Key Companies:
A few of the prominent players operating in the global deep brain stimulation market include Abbott Laboratories, Aleva Neurotherapeutics SA, Medtronic Plc, Beijing PINS Medical Co Ltd, Boston Scientific Corp, Newronika SpA, and SceneRay Co Ltd. These companies focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have a widespread global presence, which provides them to serve a large set of customers and subsequently increases their deep brain stimulation market share.
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