Deep Brain Stimulation Systems Market Growth Rate, Trends, Size, Industry Trends And Forecast To 2033

The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Deep Brain Stimulation Systems Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The deep brain stimulation systems market size has grown rapidly in recent years. It will grow from $2.28 billion in 2023 to $2.53 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to rising desire for less invasive operations among the general public, increasing demand for minimally invasive surgery in developed countries, rising demand for minimally invasive surgical procedures, high prevalence of diseases such as parkinson's disease and epilepsy, increasing prevalence of neurological disorders.

The deep brain stimulation systems market size is expected to see rapid growth in the next few years. It will grow to $3.76 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to increasing growth in the geriatric population, rising prevalence of neurological disorders globally, growing aging population, increasing acceptance of neurostimulation therapies, rising healthcare infrastructure development. Major trends in the forecast period include technological advancements in deep brain stimulation devices, advancements in technology, focus on non-motor symptoms, miniaturization and advanced materials, wireless connectivity and remote monitoring, multimodal therapies.

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Key Market Players:
Major companies operating in the deep brain stimulation systems market report are Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, Quest Diagnostics Inc., St. Jude Medical Inc., Stanford Health Care, Associated Regional and University Pathologists Inc., LivaNova PLC, OPKO Health Inc., Nordic Laboratories, Myriad Genetics Inc., Nevro Corporation, Genomic Health, Mayo Medical Laboratories, Foundation Medicine Inc., SceneRay Co., ACM Global Laboratories, Neuropace Inc., American Esoteric Laboratories, Nexstim Oy, Aleva Neurotherapeutics S.A., NeuroSigma Inc., Beijing PINS Medical Co. Ltd., BioMONTR Labs, Functional Neuromodulation Ltd., Miraca Holdings Inc., Nuvectra Corporation

Market Drivers:
The increasing prevalence of neurological disorders is expected to propel the growth of the deep brain stimulation systems market going forward. Neurological disorders refer to a group of heterogeneous diseases that affect the body's autonomic, peripheral, and central nervous systems. Deep brain stimulation systems are used in neurosurgical procedures to send electrical stimulation to the desired area, aiming to alter or modulate neural functioning and achieve a reversible, adjustable, and therapeutic effect. For instance, in March 2023, according to the Parkinson's Foundation, a US-based national organization, nearly 90,000 people were diagnosed with PD every year in the US, a 50% increase from the previously estimated rate of 60,000 diagnoses annually. For instance, in October 2022, according to the Centers for Disease Control and Prevention, a US-based federal agency, up to 5.8 million Americans suffered from Alzheimer's disease in 2020, and this population is expected to almost triple to 14 million by 2060. Therefore, the increasing prevalence of neurological disorders is driving the growth of the deep brain stimulation systems market.

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The deep brain stimulation systems market covered in this report is segmented -
1) By Product: Single Channel, Dual Channel
2) By Application: Parkinson's Disease, Essential Tremor, Obsessive Compulsive Disorder, Epilepsy, Dystonia, Other Applications
3) By End-user: Hospitals, Ambulatory Surgical Centers, Neurological Clinics, Other End Users

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