LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global deep brain stimulation devices market to grow at a CAGR of over 12% during the forecast period, according to their latest market research report.
The growing applications of DBS are one of the major trends being witnessed in the global deep brain stimulation devices market 2018-2022. DBS was initially developed for the treatment of pain and later used to treat movement disorders. However, the adoption of DBS was drastically increased after identifying it as a potential therapy for the treatment of central nervous system (CNS) circuit disorders.
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According to Technavio analysts, one of the key factors contributing to the growth of the global deep brain stimulation devices market is the increasing prevalence of neurological diseases couple with growing geriatric population:
Global deep brain stimulation devices market: Increasing prevalence of neurological diseases couple with growing geriatric population
The prevalence of neurological diseases is increasing due to the rapidly growing geriatric population as aging increases the risk of clinical onset and progression of neurological diseases. The geriatric population is increasing due to the rise in average life expectancy.
According to a senior analyst at Technavio for research on the central nervous system, “As per National Institute of Health, in 2015, approximately 8.5% of the global population or 617 million people were aged 65 years and above. This number is expected to increase to 17% by 2050. Many neurological diseases such as PD, ET, dystonia, epilepsy, Alzheimer’s disease, epilepsy, dementia, and movement disorders are common among the aging population. As per NIH most people develop the disease at the age of 60 years and about 5%-10% of people with PD have early onset disease before the age of 50 years”
Global deep brain stimulation devices market: Segmentation analysis
The global deep brain stimulation devices market research report provides market segmentation by the application (PD, ET, dystonia, and others), by end-user (hospitals, ASCs, and specialty neurological centers and research organizations), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major applications, the PD segment held the largest market share in 2017, contributing to over 73% of the market. This application segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 65% share. It was followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
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