The Deep Brain Stimulation Device Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Deep Brain Stimulation Device Global Market Report 2024, The deep brain stimulation device market size has grown rapidly in recent years. It will grow from $1.41 billion in 2023 to $1.58 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increased prevalence of neurological disorders, aging population, limited efficacy of medications, increased awareness and acceptance, improved surgical techniques.
The deep brain stimulation device market size is expected to see rapid growth in the next few years. It will grow to $2.4 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to expanding indications for dbs, rising healthcare expenditure, development of next-generation devices, increasing patient acceptance, government initiatives and funding, collaborations and partnerships. Major trends in the forecast period include patient-centric design and user interface, research and development in closed-loop neuromodulation, telehealth integration, regulatory pathway clarifications, increased collaboration and partnerships.
The increasing prevalence of neurological diseases is expected to propel the growth of the deep brain stimulation device market going forward. Medical conditions affecting the central and peripheral nervous systems are known as neurological disorders. Deep brain stimulation devices are used to control abnormal brain activity and adjust the chemical imbalances within the brain that cause various conditions. For instance, in February 2023, according to the World Health Organization, a Switzerland-based specialized health agency, around 50 million people globally had epilepsy. Moreover, in 2022 according to the Parkinson’s Foundation report, a US-based non-profit organization working for Parkinson’s disease patients, the new diagnosis of Parkinson’s disease reached 90,000 per year. This is a 50% increase from the previously expected rate of 60,000 diagnoses per year. As a result, the increasing prevalence of neurological disorders is propelling the growth of the deep brain stimulation device market.
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The deep brain stimulation device market covered in this report is segmented –
1) By Product Type: Single-Channel Deep Brain Stimulator, Dual-Channel Deep Brain Stimulator
2) By Application: Epilepsy, Essential Tremor, Obsessive-Compulsive Disorder (OCD), Depression, Dystonia, Parkinson’s Disease, Pain Management, Other Applications
3) By End User: Hospitals, Neurology Clinics, Ambulatory Surgical Centers, Research Centers
Technological advancements are a key trend gaining popularity in the deep brain stimulation device market. Companies operating in the deep brain stimulation device market are working on new product innovations with the latest technologies to sustain their position in the market. For instance, in July 2021, Medtronic Private limited, a wholly owned subsidiary of Medtronic plc, a US-based medical device company, announced the launch of the Percept PC deep brain stimulation system. The system enabled with brainsense technology is designed to capture brain signals while simultaneously delivering therapeutic stimulation inside and outside the clinic.
The deep brain stimulation device market report table of contents includes:
Executive Summary
Deep Brain Stimulation Device Market Characteristics
Deep Brain Stimulation Device Market Trends And Strategies
Deep Brain Stimulation Device Market - Macro Economic Scenario
Global Deep Brain Stimulation Device Market Size and Growth
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Global Deep Brain Stimulation Device Market Competitive Benchmarking
Global Deep Brain Stimulation Device Market Competitive Dashboard
Key Mergers And Acquisitions In The Deep Brain Stimulation Device Market
Deep Brain Stimulation Device Market Future Outlook and Potential Analysis
Appendix
Top 5 Major Key Players Are:
Boston Scientific Corporation
Aleva Neurotherapeutics SA
Medtronic PLC
Abbott Laboratories
NeuroPace Inc
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Deep Brain Stimulation Market is expected to reach USD 1481.39 Million by 2025 with the CAGE of 8.50% over the forecast period.Deep Brain Stimulation Market Increasing geriatric population and rising prevalence of brain related diseases coupled with technological advancement are some of the key drivers responsible for the growth of Deep Brain Stimulation Market.Scope of Global Deep Brain Stimulation Market Reports – Deep brain stimulation involves using a pacemaker-like device called “neurostimulator” to deliver constant electrical stimulation to problematic areas within the brain.
It has been used to treat over more than 40,000 people with Parkinson’s disease and essential tremor worldwide.
So during the study of global Deep Brain Stimulation market, we have considered deep brain stimulation devices and consumables to analyze the market.Global Deep Brain Stimulation market report is segmented on the basis of DBS type, application type, end user type and by regional & country level.
Based upon DBS type, global Deep Brain Stimulation market is classified as Thalamus, Sub-thalamus Nucleus (STN), Pedunculopontine Nucleus (PPN) and Globus Pallidus (GPi).
Based on end user type the Global Deep Stimulation market is classified as Hospitals and Ambulatory Surgical Centers (ASCs)The regions covered in this Deep Brain Stimulation market report are North America, Europe, Asia-Pacific and Rest of the World.
On the basis of country level, market of Deep Brain Stimulation is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.Key Players for Global Deep Brain Stimulation Market Reports – Global Deep Brain Stimulation market reports covers prominent players are Medtronic Plc, St. Jude Medical Inc., Boston Scientific Corporation, Abbott Laboratories, Aleva Neurotherapeutics, Soterix Medical Inc., Bioinduction Ltd., and SceneRay Corporation and others.Global Deep Brain Stimulation Market Dynamics – According to the statistics of Parkinson’s Association of Carolinas, it is estimated that around more than 10 million people worldwide are suffering from Parkinson’s disease.
Deep brain stimulation systems market demand has been increased with rising cases of neurological disorders as compared to the past few years will accelerate the market growth.
Data Bridge Market Research analyses that the market is growing with a CAGR of 8.5% in the forecast period of 2020 to 2027and expected to reach USD 1,954.35 million by 2027 from USD 1,017.57 million in 2019.
Rising demand for early and accurate disease diagnosis is the factors for the market growth.Deep brain stimulation systems is playing significant role to enable doctors to make appropriate clinical and diagnostic decisions across various levels of health care services.
Ask for Free Sample Copy Of Deep Brain Stimulation Systems Market @https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-deep-brain-stimulation-systems-marketMarket Drivers and Restraints:On the basis of product type, the market is segmented into single-channel deep brain stimulator and dual-channel deep brain stimulator.
Deep brain stimulation (DBS) is the most commonly performed surgical treatment for the neurological disorder especially Parkinson’s disease.
For instance, according to the American Association of Neurological Surgeons, in the U.S., it is estimated that each year 60,000 new cases of Parkinson’s disease are diagnosed.On the basis of type, the market is segmented into rechargeable and non-rechargeable.
