Deep Brain Stimulation Devices Market
The Global Deep Brain Stimulation Devices Market is estimated to be valued at USD 1.50 billion in 2024 and is expected to reach USD 3.01 Bn by 2031, growing at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031. The global deep brain stimulation devices market has been witnessing significant growth over the past few years. Deep brain stimulation (DBS) is a neurosurgical procedure involving the implantation of a medical device called a brain pacemaker which sends electrical impulses, through implanted electrodes, to specific targets in the brain for treating neurological and psychiatric disorders. Deep brain stimulation helps reduce symptoms of diseases like Parkinson's disease, dystonia, essential tremor among others. Technological advancements in neurological devices like the development of rechargeable devices with improved efficacy and battery life have been fueling the uptake of DBS procedures. Moreover, the growing geriatric population worldwide who are more prone to neurodegenerative disorders has been contributing to the rising demand for deep brain stimulation devices. However, high costs associated with the devices and complexity of procedures might restrain the market growth to some extent during the forecast period.
Market Dynamics:
The key factors such as rising prevalence of neurological disorders, increasing geriatric population, growing awareness about advanced treatment options, and technological developments are fueling the growth of the global deep brain stimulation devices market. According to the Parkinson's Foundation, around 60,000 Americans are diagnosed with Parkinson's disease each year. Similarly, the number of people diagnosed with Alzheimer's disease and related dementias is expected to rise dramatically in coming years. However, the market growth can be restrained by some factors. High costs associated with deep brain stimulation procedures and devices, limited reimbursement coverage and lack of skilled healthcare professionals to perform complex DBS surgeries are some of the major challenges faced by the market. Moreover, issues related to device malfunctions and lengthy approval processes for new devices by regulatory authorities also hinder the market progression. On the flip side, ongoing research for development of improved devices with real-time wireless programming and increased focus on patient-centered care present lucrative opportunities for market players in the coming years.
Key features of the study:
- This report provides in-depth analysis of the global deep brain stimulation devices market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global deep brain stimulation devices market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Abbott, Medtronic, Boston Scientific Corporation, Neuropace Inc., LivaNova Plc, Renishaw Plc, Aleva Neurotherapeutics S.A., Beijing Pinchi Medical Equipment Co. Ltd, Nexstim, St. Jude Medical (now part of Abbott), Cyberonics (now part of LivaNova), EBR Systems, IntraPace, Nevro Corp, Stimwave Technologies
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global deep brain stimulation devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global deep brain stimulation devices market.
Market Segmentation
Market Segmentation
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