Technological advancement has also aided the growth of this market. Recently, a research team from the Tel Aviv University has been working on an advanced biometric computer chip implant known as Rehabilitation Nano Chip (ReNaChip) that would support healthcare professionals and neurosurgeons in restoring normal brain functions.
Albany, NY -- (SBWIRE) -- 01/07/2016 -- A rise in the global geriatric population, increasing number of patients suffering from Parkinson's disease (PD) and growing awareness about neurological movement disorders among patients have triggered the growth of the deep brain stimulation devices market. Globally, neurological disorders are one of the major causes of mortality and account for approximately 12% of deaths per annum. Of these, cerebrovascular diseases account for 85% deaths. Parkinson's disease is the most common neurological disorder after Alzheimer's disease. Symptoms associated with this disease include tremors, slowness of movement, muscle stiffness and trouble with balance.
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Drug therapy is the most effective treatment option available to control PD in the initial stages; however, a large number of medicines are required to control the disease during its advanced stages. In the later stages of PD, surgical treatment using deep brain stimulation (DBS) devices is used to control symptoms of the disease. DBS devices are an effective, clinically proven and legally approved advanced treatment option for mild to severe PD. The market for DBS devices is expected to grow at a significant rate during the forecast period from 2014 to 2020. However, the high cost of the surgical procedure could hamper the growth of the market. The growing burden of PD on health care systems, along with the uncertainty of economic conditions in some developed economies such as the U.S. and Europe has forced original equipment manufacturers (OEMs) to develop cost-effective devices for PD treatment.
This market research report on DBS devices for the treatment of Parkinson's disease provides detailed analysis of the global market and helps in understanding the driving forces responsible for the growth of the market. The report discusses the market for deep brain stimulation devices for Parkinson's disease based on prevalence of the disease and the use of these devices to treat PD in four geographical regions: North America, Europe, Asia Pacific and Rest of the World. This report comprises an elaborate executive summary, which includes a market snapshot that provides overall information on various segments and sub-segments that are included in the scope of the study. It also provides overall information and data analysis of the global market for deep brain stimulation devices for Parkinson's disease with respect to market segments based on geography (i.e., region-wise and country-wise analyses).
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The global market for DBS devices for Parkinson's disease has been segmented with respect to geography. Market size estimates and forecasts for the period from 2012 to 2020 have been provided for each geographical region in terms of revenue (USD million), considering 2012 and 2013 as historical and base years, respectively. The CAGR (%) of each market segment for the forecast period from 2014 to 2020 has also been provided along with market size estimations. The market overview section provides a detailed qualitative analysis of the factors responsible for driving and restraining the growth of the global market for deep brain stimulation devices for the treatment of Parkinson's disease. The section also covers opportunities, Porter's five forces analysis as well as market attractiveness analysis and market share analysis of major players in the global DBS devices market.
A list of recommendations has been provided for new entrants and existing market players to help them establish a strong presence in the market and increase their share. The report also profiles the major players in the market for deep brain stimulation devices for Parkinson's disease based on various attributes. The profiles include company overview, financial overview, business strategies, product portfolio and recent developments. Prominent players profiled in the report include Medtronic, Inc., St. Jude Medical, Inc., Boston Scientific Corporation and Aleva Neurotherapeutics SA.
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