The globalDeep Brain Stimulation (DBS) Systems Marketwas valued at USD 1227.5 million in 2019 and is expected to reach USD 2,122.8 million by 2027, at a CAGR of 8.1% according to a new report by Emergen Research. In general, geriatric population suffers from unconscious movements of the body leading to Parkinsons disease, multiple sclerosis and dystonia. In the United States, more than 60,000 people are diagnosed with Parkinsons disease each year, with approximately 10 million people presently living with Parkinsons disease globally. High prevalence of such diseases among elderly coupled with rising geriatric population are fuelling up the demand for the deep brain stimulation systems worldwide. In addition, increasing incidences associated with depression, essential tremor and obsessive compulsive disorder (OCD) are further multiplying the demand of deep brain stimulation systems in the industry.
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The study on the Global Deep Brain Stimulation (DBS) Systems Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Deep Brain Stimulation (DBS) Systems market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Deep Brain Stimulation (DBS) Systems industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Deep Brain Stimulation (DBS) Systems industry.
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Key Highlights from the Report
- Dual channel deep brain stimulation systems product segment accounted for the largest market share of around 57.8%, owing to use of advanced technology and safety features like painless management and wireless recharge to reduce tremors associated with Parkinsons disease
- Due to increase in occurrence unconscious body movements especially in the geriatric population across the globe, Parkinsons disease application segment of the deep brain stimulation systems dominated the market with market share of approximately 39.7%
- Approximately, 930,000 people in total are expected to be suffering from the Parkinsons disease in the United States by the end of 2020. Thus, the demand for deep brain stimulation systems is set to increase significantly in the coming years with advanced features to minimise the tremors accompanying the disease
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