Global Deep Brain Stimulation Devices Market to be worth US$3.21 billion by 2020; Rise of Parkinson’s Disease Driving the Market
The global deep brain stimulation devices market was valued at US$1.79 billion in 2013 and is expected to be valued at US$3.21 billion by 2020. Growth in the number of people suffering from Parkinson’s diseases will help the global deep brain stimulation devices market register an 8.9% CAGR during the forecast period therein.
Growth of the geriatric population is the major cause of the sudden development of neurological illnesses such as Parkinson’s disease, dystonia disease, and Alzheimer’s disease. Parkinson’s disease is considered to be a common progressive movement and chronic disorder that manifests through bradykinesia, tremors, and postural instability. Parkinson’s disease is commonly found in people aged between 55 and 60. According to research done by the Parkinson’s Disease Foundation, currently around 10 million people are suffering from Parkinson’s disease from across the globe.
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North America Leads Global Deep Brain Stimulation Devices Market
Based on geography, the global deep brain stimulation devices market can be categorized into four regions including North America, Asia Pacific, Europe, and Rest of the World. These four regions are further segmented into leading national markets such as Canada, Spain, India, China, Japan, Germany, the U.K., Italy, Brazil, and others.
Technical advancement in deep brain stimulation devices in these regions has aided the development of this market. Key players such as St. Jude Medical Inc., Boston Scientific Corporation, and Medtronic Inc. are constantly investing in research and development activities to improve the standard of deep brain stimulation devices and treatments. With a 43% share in market revenue, North America led the global deep brain stimulation devices market in 2013 and is expected to be the leader during the forecast period.
Recently, UCLA doctors received a three-year grant of US$2.5 million from the Health Resources and Services Administration, to launch a newly developed geriatric care program. The ‘Program for Improving Care of Aging adults through Training and Education’, or PICATE, is a health care program created by the geriatric medicine division. PICATE, through this program, aims to train the next generation of geriatric care doctors in Riverside County, California. PICATE is also planning to conduct research activities on the changing needs of people with injuries.
Browse Market Research Press Release of Deep Brain Stimulation Devices Market: http://www.transparencymarketresearch.com/pressrelease/global-deep-brain-stimulator-market.htm
Over the past few years, there has been a rise in the number of elderly people in Riverside County. Shortage of geriatrics specialists and lack of effective treatments were the major reasons behind the growth of the population affected by Parkinson’s disease in Riverside County. As Parkinson’s disease is commonly seen in elderly people, Riverside County was considered by Dr. Zaldy Tan to conduct research on the differing needs of people. Tan’s team of medical experts plan to regularly visit hospitals and medical centers in Riverside to understand the county’s resources and priorities.
Technical advancements and improvements in the treatments and medicines for Parkinson’s disease have aided the development of the global deep brain stimulation devices market. The burden of Parkinson’s disease is increasing on local and global manufacturers in the U.S., the EU, and other developed countries. Recently, Tel Aviv University worked on the development of advanced biometric chip implant, called as Rehabilitation Nano Chip. With the help of this chip, it will be possible for doctors and neurosurgeons to restore normal functions of the brain.