How is the Deep Brain Stimulation Device Market Poised for Growth: Trends and Opportunities Through 2034
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What is the Predicted Annual Growth Rate of the Deep Brain Stimulation Device Market Over the Coming Decade?
The market size for deep brain stimulation devices has seen a substantial increase in the past few years. The market that stands at $1.54 billion in 2024 is predicted to jump to $1.72 billion in 2025, with a compound annual growth rate (CAGR) of 11.5%. The significant growth in the historical period may be due to factors such as the rising occurrence of neurological illnesses, an aging population, the limited effectiveness of drugs, heightened consciousness and acceptance, and advances in surgical procedures.
The market for deep brain stimulation devices is poised for a significant expansion in the coming years, expecting to reach a value of $2.67 billion in 2029 at a compound annual growth rate (CAGR) of 11.7%. This surge during the forecast period can be traced back to factors such as broader applications for DBS, heightened healthcare spending, the production of cutting-edge devices, growing acceptance among patients, government-backed initiatives and funding, as well as collaborative partnerships. Key trends influencing this forecasted period are the focus on patient-friendly designs and user interfaces, advancements in closed-loop neuromodulation research, the integration of telehealth, clarifying regulatory pathways, and a rise in collaborations and partnerships.
What Key Drivers Are Accelerating the Growth of the deep brain stimulation device Market During the Forecast Period?
The continual rise of neurological diseases is anticipated to drive the expansion of the deep brain stimulation device market. Neurological disorders refer to medical conditions that impact the central and peripheral nervous systems. Deep brain stimulation devices serve to regulate abnormal brain activity and adjust the chemical imbalances in the brain responsible for various conditions. For instance, the World Health Organization, a specialized health agency based in Switzerland, reported in February 2023 that around 50 million individuals worldwide were suffering from epilepsy. Furthermore, the Parkinson’s Foundation, a US-based non-profit focused on Parkinson’s disease patients, stated in 2022 that the new diagnosis of Parkinson’s disease reached 90,000 per year. This illustrates a 50% increase from the earlier anticipation of 60,000 diagnoses per year. Consequently, the rising presence of neurological disorders is fuelling the growth of the deep brain stimulation device market.
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What Are the Major Players Making an Impact in the Deep Brain Stimulation Device Market’s Growth?
Major companies operating in the deep brain stimulation device market include:
• Medtronic PLC_x000D_
• Abbott Laboratories_x000D_
• Boston Scientific Corporation_x000D_
• Aleva Neurotherapeutics SA_x000D_
• Functional Neuromodulation Ltd_x000D_
Which Upcoming Trends Are Set to Influence the Deep Brain Stimulation Device Market’s Path Forward?
Leading entities in the deep brain stimulation device arena are making strides in technological advancements, including the incorporation of connected care technology. This innovation improves patient care by supporting remote programming, enhancing patient-healthcare provider communication, and boosting treatment results for those suffering from movement disorders. The concept of connected care technology is built upon the amalgamation of digital tools and platforms that promote constant interaction and data sharing between patients and healthcare professionals. This, in turn, improves patient surveillance, treatment regulation, and the broader aspect of healthcare provision. As an exemplar, in January 2024, Abbott Laboratories, an American healthcare, and medical device corporation, gained the official nod from the US Food and Drug Administration for its Liberta RC DBS system. This system, hailed as the smallest rechargeable deep brain stimulation device for treating movement disorders, displays key features like remote programming facilitated by the NeuroSphere Virtual Clinic, the need for a mere 10 recharges annually, and a compact design outsizing its competitors by 31%. Additionally, it spots a wireless charging system able to refill the device every 37 days and provides adjustable controls via an Abbott patient controller or any compatible iOS device.
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How Are Market Segments in the Deep Brain Stimulation Device Industry Positioned for Long-Term Growth?
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
What Regions Are Steering Growth in the Deep Brain Stimulation Device Sector?
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
What Are the Core Features That Define the Deep Brain Stimulation Device Market?
Deep brain stimulation devices are specialized medical instruments that deliver an electrical current directly to areas of the brain. These electrical impulses can also adjust for the chemical imbalances within the brain that cause various conditions. It is used to treat neuropsychological disorders.
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