What’s Driving Growth in the Deep Brain Stimulation Device Market? Insights into Key Trends and Opportunities
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How has the deep brain stimulation device market size evolved in recent years?
The market size for the deep brain stimulation device has seen swift expansion in recent years. Its growth is projected to progress from $1.54 billion in 2024 to reach $1.72 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.5%. The growth during the historical period is linked to factors like a rise in neurological disorders, an aging demographic, limited effectiveness of medications, increased awareness and acceptability, in addition to improved surgical methods.
What are the predictions for the deep brain stimulation device market size in the coming years?
Anticipated to experience swift expansion in the upcoming years, the market for deep brain stimulation devices is projected to reach $2.67 billion by 2029, boasting a compound annual growth rate (CAGR) of 11.7%. The projection factors inducing the growth during this forecast period involve an increase in applications for deep brain stimulation, escalation in healthcare spending, the emergence of cutting-edge devices, growing acceptance among patients, and supportive government programs and funding, as well as collaborations and partnering. The forecast period also anticipates significant tendencies such as a patient-focussed design approach and user interface, advancements in closed-loop neuromodulation research, the incorporation of telehealth, clarification of regulatory pathways, and a boost in collaboration and partnerships.
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What key factors are fueling the growth of the deep brain stimulation device market?
The escalating frequency of neurological ailments is anticipated to drive the expansion of the deep brain stimulation device market in the future. Neurological disorders refer to medical issues that affect the central and peripheral nervous systems. Deep brain stimulation devices are employed to regulate abnormal brain functionality and balance the brain’s chemical discrepancies causing different conditions. For example, in February 2023, as per the World Health Organization, a specialized health agency based in Switzerland, about 50 million individuals worldwide were suffering from epilepsy. Furthermore, according to a 2022 report from the Parkinson’s Foundation, a non-profit organization based in the US dedicated to aiding Parkinson’s disease patients, the new instances of Parkinson’s disease reached 90,000 annually. This represents a 50% surge from the formerly projected rate of 60,000 diagnoses per year. Consequently, the growing frequency of neurological disorders is stimulating the expansion of the deep brain stimulation device market.
How is the global deep brain stimulation device market divided into 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
Subsegments:
1) By Single-Channel Deep Brain Stimulator: Implantable Pulse Generators, Electrode Leads, Accessories
2) By Dual-Channel Deep Brain Stimulator: Implantable Pulse Generators, Electrode Leads, Accessories
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Who are the key firms paving the way for growth in the deep brain stimulation device market?
Major companies operating in the deep brain stimulation device market include Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, Aleva Neurotherapeutics SA, Functional Neuromodulation Ltd, NeuroPace, Inc., LivaNova PLC, Beijing PINS Medical Co. Ltd., SceneRay Corporation, Synapse Biomedical Inc., Deep Brain Innovation LLC, Nevro Corp., MicroPort NeuroTech, Stimwave LLC, Sapiens Neuro, Neuronetics Inc., BlueWind Medical Ltd., Brainsway Ltd., Neuralink Corporation, Med-Ally LLC, Axion BioSystems Inc., CereGate GmbH, NeuroSigma Inc., Bioinduction Ltd., Alpha Omega Engineering Ltd., Helius Medical Technologies, ANM Adaptive Neuromodulation GmbH, MagVenture A/S, Precisis AG, Monteris Medical Inc.
Which trends are expected to transform the deep brain stimulation device market?
Major corporations in the deep brain stimulation device market are advancing technology, incorporating connected care technology to heighten patient care. These advancements can enable remote programming, refine communication among patients and health professionals, and optimize treatment results for persons with movement disorders. Connected care technology refers to the digital tools and platforms’ amalgamation aimed at unbroken communication and data sharing between patients and healthcare providers, thereby improving patient monitoring, treatment administration, and overall health care. In January 2024, for example, Abbott Laboratories, a US healthcare and medical device corporation, secured approval from the US Food and Drug Administration for its Liberta RC DBS system – the smallest rechargeable deep brain stimulation device meant for treating movement disorders. The Liberta RC DBS system incorporates remote programming through the NeuroSphere Virtual Clinic, requires only 10 recharges annually, and its compact design is 31% smaller compared to rival devices. Other impressive features include a wireless charging system that can recharge the device every 37 days, and it offers customizable control via an Abbott patient controller or suitable iOS devices.
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What regions are contributing significantly to the growth of the deep brain stimulation device market?
North America was the largest region in the deep brain stimulation devices market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global deep brain stimulation devices market report during the forecast period. The regions covered in the deep brain stimulation device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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