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Brain Pacemaker Market on Track for Strong Growth, Estimated to Grow at 14% CAGR Through 2029
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Is the Expected CAGR for the Brain Pacemaker Market Through 2025?
Over the past few years, there has been a significant expansion in the brain pacemaker market size. Its projected growth is from $1.57 billion in 2024 to reach $1.8 billion the following year, with a compound annual growth rate (CAGR) of 14.7%. Factors such as the growing incidences of Parkinson's disease, progressive enhancements in neuromodulation technologies, clinical achievements and approvals, enhanced awareness about movement disorders, and increased healthcare spending have all contributed to the historical period growth.
What's the Projected Size of the Global Brain Pacemaker Market by 2029?
The market for brain pacemakers is projected to witness significant growth in the upcoming years, with a valuation anticipated to reach $3.04 billion by 2029. This growth, with a Compound Annual Growth Rate (CAGR) of 14.0%, is expected to be fueled by factors such as an aging population, heightened awareness, enhanced diagnostic techniques for neurological disorders, broadening indications, refinements in surgical techniques, regulatory approvals for new devices, and a patient preference for non-drug-related treatments. Key trend forecasts for this period include the advancement of targeting algorithms, the emergence of closed-loop DBS systems, the implementation of wireless charging features, progress in minimally invasive surgical methods, and innovations in battery technology.
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Top Growth Drivers in the Brain Pacemaker Industry: What's Accelerating the Market?
The rising occurrence of neurological disorders is forecasted to fuel the brain pacemaker market's expansion in the future. Neurological illnesses, which affect the nervous system, are largely attributed to factors such as aging populations, lifestyle patterns, environmental influences, genetic factors, infectious diseases, and the impacts of urbanization and industrialization. By delivering precise electric impulses designed to correct abnormal brain functions, a brain pacemaker significantly enhances the lives of those suffering from neurological conditions. For example, the World Federation of Neurology noted in October 2023 that more than 40% of the global populace has a neurological disorder, a figure that is expected to almost double by 2050. Additionally, estimates show that the number of yearly stroke-related deaths worldwide, currently at 9.7 million, is set to rise by 50% by 2050. Consequently, this growing prevalence of neurological disorders is propelling the expansion of the brain pacemaker market.
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What Long-Term Trends Will Define the Future of the Brain Pacemaker Market?
Leading firms in the brain pacemaker market are pioneering groundbreaking products with higher-level technologies, like BrainSense, to improve the accuracy and customization of deep brain stimulation treatments. BrainSense captures and logs brain signals, facilitating real-time information to tailor and maximize deep brain stimulation therapy. For example, Medtronic, a medical technology firm based in the US, launched the Percept RC deep brain stimulation (DBS) system in January 2024. The Percept RC is the most compact and slimmest dual-channel neurostimulator available for DBS, equipped with Medtronic's unique BrainSense technology. Similar to a heart pacemaker, DBS therapy utilizes an implanted medical device to deliver electric stimulation to specific brain areas. BrainSense allows the Percept RC to capture and document brain signals and gives crucial data that enable healthcare professionals to adjust and individualize DBS therapy according to the patient's changing needs.
What Are the Main Segments in the Brain Pacemaker Market?
The brain pacemaker market covered in this report is segmented -
1) By Type: Single Channel, Dual Channel
2) By Application: Dystonia, Epilepsy, Essential Tremor, Obsessive-Compulsive Disorder, Parkinson's Disease, Other Applications
3) By Sales Channel: Channel Sales, Direct Sales
4) By End-User: Hospitals, Ambulatory Surgical Centers And Clinics, Other End-Users
Subsegments:
1) By Single Channel: Implantable Single Channel Brain Pacemakers, Wearable Single Channel Brain Pacemakers
2) By Dual Channel: Implantable Dual Channel Brain Pacemakers, Wearable Dual Channel Brain Pacemakers
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Which Top Companies are Driving Growth in the Brain Pacemaker Market?
Major companies operating in the brain pacemaker market are Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, LivaNova PLC, Renishaw plc, Beijing PINS Medical Co. Ltd., NeuroPace Inc., SPR Therapeutics, SceneRay Co. Ltd., Nexeon MedSystems Inc., Soterix Medical Inc., BrainsGate Ltd., Functional Neuromodulation Inc., Aleva Neurotherapeutics SA, NeuroSigma Inc., NeuroOne Medical Technology, Fisher Wallace Laboratories Inc., Bioinduction Limited, Neuronetics Inc., Synchron Inc., Neuro Device Group S.A.
Which Regions Will Dominate the Brain Pacemaker Market Through 2029?
North America was the largest region in the brain pacemaker market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the brain pacemaker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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