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Rapid Market Growth in Recent Years

• The deep brain stimulation device market has experienced rapid expansion, reaching $1.41 billion in 2023.
• It is projected to grow to $1.58 billion in 2024, showcasing a compound annual growth rate (CAGR) of 12.1%.
• Factors driving historic growth include increased prevalence of neurological disorders, an aging population, limited efficacy of medications, heightened awareness and acceptance, and improved surgical techniques.

Anticipated Growth and Driving Factors

• Forecasts suggest the market will continue to expand, reaching $2.4 billion in 2028 with a CAGR of 11.0%.
• Expansion is attributed to growing indications for deep brain stimulation (DBS), rising healthcare expenditure, development of next-gen devices, increasing patient acceptance, government initiatives and funding, as well as collaborations and partnerships.
• Major trends in the forecast period include patient-centric design, closed-loop neuromodulation research, telehealth integration, regulatory clarifications, and increased collaborations.

Increasing Disease Prevalence Surging Demand For Deep Brain Stimulation Devices

• Neurological disorders’ rising prevalence is expected to fuel market growth.
• Conditions affecting the central and peripheral nervous systems prompt the use of deep brain stimulation devices to control abnormal brain activity.
• Instances such as the WHO’s report of 50 million epilepsy cases globally and a 50% increase in Parkinson’s disease diagnoses underscore the need for such devices.

Read More On The Deep Brain Stimulation Device Market Report 2024 – https://www.thebusinessresearchcompany.com/report/deep-brain-stimulation-device-global-market-report

Deep Brain Stimulation System Sets New Standards With Brainsense Technology

• Technological advancements are reshaping the market, with companies integrating the latest tech into their products.
• Medtronic’s Percept PC deep brain stimulation system, featuring brainsense technology, captures brain signals while delivering therapeutic stimulation.
• Collaborations like Medtronic’s partnership with Aster MedCity in India aim to leverage DBS technology to enhance Parkinson’s disease treatment.

Segmentation and Regional Dynamics

• The deep brain stimulation device market is segmented by product type, application, and end-user.
• Product types include Single-Channel and Dual-Channel Deep Brain Stimulators, while applications range from Epilepsy to Pain Management.
• End-users encompass Hospitals, Neurology Clinics, Ambulatory Surgical Centers, and Research Centers.
• North America led the market in 2023, with Asia-Pacific poised for the fastest growth during the forecast period.

Conclusion: Embracing Innovation in Neurological Treatment

The deep brain stimulation device market is witnessing a transformative phase driven by technological innovation, expanding indications, and strategic collaborations. As neurological disorders continue to affect millions worldwide, the demand for advanced treatment options like DBS remains robust. With ongoing research and development, coupled with heightened patient-centric approaches, the market is poised to address evolving healthcare needs effectively. As we move forward, the integration of cutting-edge technology and collaborative efforts will shape the landscape of neurological treatment, offering hope and improved quality of life for patients globally.

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