Albany - NY, Aug. 19, 2015 (GLOBE NEWSWIRE) -- On the basis of the report published by Transparency Market Research, the global deep brain stimulation devices market is forecast to grow from US$1.79 billion in 2013 to US$3.21 billion in 2020. The market will register a CAGR of 8.9% for the period from 2014 to 2020. The report titled, "Deep Brain Stimulation Devices Market for Parkinson's Disease (North America, Europe, Asia Pacific and Rest of the World) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", focuses on main factors that help develop the market.
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The global deep brain stimulation devices market report highlights all possible market drivers across all different geographical locations. A rise in the number of people suffering from Parkinson's disease, growth in global geriatric population, and increasing awareness regarding neurological movement disorders have led to the growth of the global deep brain stimulation devices market. The global deep brain stimulation devices market report focuses on various DBS treatment devices. Deep brain stimulation market is expected to grow during the forecast period, from 2014 to 2020.
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Growing burden of Parkinson's diseases on local and international healthcare units, and uncertain conditions in few developed countries such as Europe and U.S. have forced all equipment manufacturers to develop effective medical devices for treating Parkinson's diseases. Healthcare professionals use deep brain stimulation devices in surgical procedures for treating Parkinson's disease. The global market to treat Parkinson's disease, in 2013 was valued at US$1.79 billion. This has further boosted the global deep brain stimulation devices market.
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The report states that higher incidences of Parkinson's disease is the prime driving factor for the fast-developing global deep brain stimulation devices market. Growth in geriatric population has been the root cause for the growth of Parkinson's disease and other neurological disorders, state the analysts in the report. Parkinson's disease is a common chronic movement disorder that reveals symptoms such as bradykinesia, tremors, postural instability, and akinesia. Parkinson's disease is most commonly seen in people aged between 55 and 60 years. Over the past few years, many cases of Parkinson's diseases have been recorded. Use of advanced technology devices to treat the Parkinson's disease has led to the growth of the deep brain stimulation market.
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TMR analysts categorize the global deep brain stimulation devices market into four regions, namely, Europe, Asia Pacific, North America, and Rest of the World. These regions are further divided into national markets. North America led the global deep brain stimulation devices market in 2013 with around 43% share of total revenue. Contribution from U.S., Canada, Europe, Germany, U.K., France, Italy, and Spain has helped the North American deep brain stimulation devices market to grow at fast pace.
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Leading participants such as Medtronic Inc., Boston Scientific Corporation, and St. Jude Medical Inc. hold a sizeable share in the global deep brain stimulation devices market. Key players from across all locations use new deep brain stimulation devices to treat the Parkinson's disease, thus leading to the growth of the market.
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Deep Brain Stimulation Devices Market, By Geography
Rest of Europe (RoE)
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
Rest of the World (RoW)
- Rest of RoW
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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