Deep Brain Stimulation Systems Market Share, Trend Analysis, Key Drivers, Size And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Deep Brain Stimulation Systems Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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.

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Market Drivers and Trends:

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.

Major companies operating in the deep brain stimulation systems market are developing innovative technology, such as deep brain stimulation (DBS) systems, to treat patients with movement disorders. Deep Brain Stimulation (DBS) is a medical procedure that involves an implanted device that delivers an electrical current directly to areas of the brain. For instance, in January 2024, Abbott Laboratories, a US-based medical devices and health care company, launched the Liberta RC DBS system, the world's smallest rechargeable deep brain stimulation (DBS) device with remote programming, to treat people living with movement disorders. The Liberta RC DBS system is the only rechargeable, first-of-its-kind connected care technology in the U.S. and enables patients to stay in touch with their physicians, guarantee optimal configuration and operation, and obtain updated treatment settings remotely when necessary without having to visit a physician's office.

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Major Key Players of the Market:

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

Deep Brain Stimulation Systems Market 2024 Key Insights:

• The deep brain stimulation systems market is expected to grow to $3.76 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• Rising Prevalence Of Neurological Disorders Ignites Growth In The Deep Brain Stimulation Systems Market
• Launch Of World's Smallest Rechargeable Deep Brain Stimulation Device With Remote Programming
• North America was the largest region in the deep brain stimulation systems market in 2023

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