2024-2033 Deep Brain Stimulation Device Market: Key Insights on Growth Opportunities
Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!
What is the Expected Growth Trajectory for the Deep Brain Stimulation Device Market by 2033?
The market for deep brain stimulation devices has experienced significant growth recently. The market’s value is forecasted to increase from $1.41 billion in 2023 to $1.58 billion in 2024, marking a compound annual growth rate (CAGR) of 12.1%. The historical growth observed can be tied to factors such as a rise in neurological disorders, an aging populace, reduced effectivity of drugs, greater public knowledge and acceptance, along with advancements in surgical methods.
The market size for deep brain stimulation devices is predicted to experience a swift expansion in the upcoming years, reaching the $2.4 billion mark in 2028 with a compound annual growth rate (CAGR) of 11.0%. The anticipated growth during the forecasted period could be as a result of broader applications for dbs, increased funding in healthcare, the introduction of next-gen devices, the growing acceptance among patients, government-supported initiatives and funding, along with collaborations and partnerships. Key trends during the forecast period are likely to consist of a focus on patient-centered design and user interfaces, advances in closed-loop neuromodulation research, integration with telehealth, regulatory pathway understanding, plus heightened collaborations and partnerships.
Claim Your Free Sample of the Global Deep Brain Stimulation Device Market Report Today!
https://www.thebusinessresearchcompany.com/sample.aspx?id=10733&type=smp
What Factors Are Leading to Growth in the deep brain stimulation device Market?
The surge in neurological disease incidence may accelerate the expansion of the deep brain stimulation device market. Neurological disorders refer to medical conditions impairing the central and peripheral nervous systems. Deep brain stimulation devices are applied to regulate abnormal brain functions and correct chemical imbalances in the brain triggering various ailments. For instance, the World Health Organization, a Switzerland-based health institution, reported in February 2023 that approximately 50 million people around the world were suffering from epilepsy. Moreover, the Parkinson’s Foundation, a US non-profit body serving Parkinson’s disease patients, noted that Parkinson’s disease new diagnosis rate touched 90,000 annually in 2022. This depicts a 50% surge compared to the earlier forecast of 60,000 diagnoses annually. Consequently, the accelerating incidence of neurological disorders is stimulating the growth of the deep brain stimulation device market.
Which Segments Play a Key Role in Understanding the Deep Brain Stimulation Device Market?
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
What Trends Are Emerging as Game-Changers in the Deep Brain Stimulation Device Market?
The rise of technological progress is a primary trend witnessing increased prevalence in the deep brain stimulation device industry. Firms active in this market are focusing on novel product advancements using emerging technologies to keep their market stance intact. For instance, Medtronic Private Limited, an entirely owned subsidiary of US-based Medtronic plc, in its July 2021 announcement, unveiled the Percept PC deep brain stimulation system. This system incorporates brainsense technology that allows the capturing of brain signals while also offering therapeutic stimulation both within and outside of the clinical setup.
Order Now for Fast Delivery of Your Deep Brain Stimulation Device Market Report!
https://www.thebusinessresearchcompany.com/report/deep-brain-stimulation-device-global-market-report
Which Regions Are Setting the Pace for Deep Brain Stimulation Device Market Growth?
North America was the largest region in the deep brain stimulation devices market in 2023. 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
The Deep Brain Stimulation Device Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the deep brain stimulation device market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Deep Brain Stimulation Device Market Include
1. Deep Brain Stimulation Device Market Executive Summary
2. Deep Brain Stimulation Device Market Segments
3. Deep Brain Stimulation Device Market Size And Template Market Growth Rate
4. Key Deep Brain Stimulation Device Market Trends
5. Major Deep Brain Stimulation Device Market Drivers
……
25. Key Mergers And Acquisitions In The Deep Brain Stimulation Device Market
26. Top Deep Brain Stimulation Device Companies
27. Deep Brain Stimulation Device Market Opportunities And Strategies
28. Deep Brain Stimulation Device Market, Conclusions And Recommendations
29. Appendix
Discover Related Reports by The Business Research Company:
Neurophysiology Devices And Equipment Global Market Report 2024
Neurodegenerative Disorder Therapeutics Global Market Report 2024
Blood Culture Tests Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/blood-culture-tests-global-market-report
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
