Global Deep Brain Stimulation Device Market 2024 Growth Rate, Latest Trends, Industry Insights And Forecast To 2033

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.

Market Overview -
Deep brain stimulation devices are specialized medical instruments that deliver an electrical current directly to areas of the brain. These electrical impulses can also adjust for the chemical imbalances within the brain that cause various conditions. It is used to treat neuropsychological disorders.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=10733&type=smp

Increasing Disease Prevalence Surging Demand For Deep Brain Stimulation Devices
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.

Competitive Landscape -
Major companies operating in the deep brain stimulation device market report are Boston Scientific Corporation, Aleva Neurotherapeutics SA, Medtronic plc, Abbott Laboratories, NeuroPace Inc., Nexstim Oyj, Beijing PINS Co.Ltd., Neuronetics Inc., Functional Neuromodulation Ltd., Renishaw PLC., Cyberonics Inc., SceneRay Co.Ltd., Fisher Wallace, Brainsway Ltd., Cleveland, Fisher Wallace Laboratories, Ad-Tech Medical Instrument Corporation, Advanced Neuromodulation Systems Inc., Bioinduction Ltd., Bioness Inc., Circuit Therapeutics Inc., Deep Brain Innovations LLC, Flowonix Medical Inc., Greatbatch Medical SA, IntraPace Inc., MicroTransponder Inc., Neurotech International Limited, NeuroWave Systems Inc., Nexeon MedSystems Inc., St. Jude Medical Inc.

Deep Brain Stimulation System Sets New Standards With Brainsense Technology
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.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/deep-brain-stimulation-device-global-market-report

Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.