Press release
Deep Brain Stimulation Device Market Analysis, Trends, Share, Industry Growth And Forecast To 2032
Deep Brain Stimulation Device Market Analysis
The Business Research Company's Deep Brain Stimulation Device Global Market Report 2023 identifies increasing prevalence of neurological diseases as the major driver for the deep brain stimulation device market's growth in the forecast period. 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.
The global deep brain stimulation devices market size is expected to grow from $1.25 billion in 2022 to $1.41 billion in 2023 at a compound annual growth rate (CAGR) of 12.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global deep brain stimulation devices market size is expected to reach $2.16 billion in 2027 at a CAGR of 11.2%.
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Major competitors in the deep brain stimulation device market are Boston Scientific Corporation, Aleva Neurotherapeutics SA, Medtronic Plc., Abbott (St. Jude Medical), NeuroPace Inc.
A key trend in the deep brain stimulation device market includes technological advancement. 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 January 2020, Medtronic Inc., a US-based medical device company, launched a new Deep Brain Stimulation device called the Percept PC Neurostimulator with BrainSense™ technology. This device is designed to treat Parkinson's disease and other movement disorders, and features advanced sensing capabilities that allow physicians to track and record brain activity in real-time. These signals can be recorded concurrently while giving therapeutic stimulation inside and outside the clinic.
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The deep brain stimulation device market 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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the deep brain stimulation device market.
The Business Research Company's "Global Deep Brain Stimulation Device Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Deep Brain Stimulation Device Market Include:
1. Executive Summary
2. Deep Brain Stimulation Device Market Characteristics
3. Deep Brain Stimulation Device Market Trends And Strategies
4. Deep Brain Stimulation Device Market - Macro Economic Scenario
5. Deep Brain Stimulation Device Market Size And Growth
……
26. Africa Deep Brain Stimulation Device Market
27. Deep Brain Stimulation Device Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Deep Brain Stimulation Device Market
29. Deep Brain Stimulation Device Market Future Outlook and Potential Analysis
30. Appendix
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