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According to The Business Research Company’s Deep Brain Stimulation Device Global Market Report for 2023, the global deep brain stimulation devices market is poised to expand from $1.25 billion in 2022 to $1.41 billion in 2023, exhibiting a compound annual growth rate (CAGR) of 12.5%. By 2027, the market size is projected to reach $2.16 billion, sustaining a CAGR of 11.2%.

What emerged as the primary impetus in the deep brain stimulation device market?
The forward propulsion of the deep brain stimulation device market is anticipated to be fueled by the escalating prevalence of neurological disorders. These disorders pertain to medical conditions affecting the central and peripheral nervous systems. The role of deep brain stimulation devices is to manage aberrant brain activity and regulate chemical imbalances that trigger various conditions. As an illustration, in February 2023, the World Health Organization, a specialized health agency based in Switzerland, reported that around 50 million individuals worldwide were grappling with epilepsy. Similarly, according to a 2022 report from the Parkinson’s Foundation, a US non-profit organization devoted to Parkinson’s disease patients, new diagnoses of Parkinson’s disease had surged to 90,000 annually. This marked a 50% surge from the formerly projected rate of 60,000 diagnoses per annum. Consequently, the escalating prevalence of neurological disorders is driving the expansion of the deep brain stimulation device market.

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What emerged as the predominant trend in the deep brain stimulation device market?
Technological advancements constitute a pivotal trend gaining traction within the deep brain stimulation device market. Companies engaged in this market sector are diligently working on fresh product innovations that incorporate cutting-edge technologies to fortify their standing. As an example, in January 2020, Medtronic Inc., a US-based medical device corporation, introduced a novel Deep Brain Stimulation device called the Percept PC Neurostimulator featuring BrainSense™ technology. This device is designed to address Parkinson’s disease and other movement disorders. Notably, it encompasses advanced sensing capabilities enabling medical professionals to real-time track and record brain activity. These signals can be recorded concurrently while administering therapeutic stimulation within and beyond clinical settings.

Which region attained the zenith in the deep brain stimulation device market?
In 2022, North America dominated the deep brain stimulation devices market. The global deep brain stimulation devices market report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Who are the eminent players in the deep brain stimulation device market?
Key players in the deep brain stimulation device market include Boston Scientific Corporation, Aleva Neurotherapeutics SA, Medtronic Plc., Abbott (St. Jude Medical), NeuroPace Inc., Nexstim Oyj, Beijing PINS Co.Ltd., Neuronetics Inc., Functional Neuromodulation Ltd., Renishaw PLC., Cyberonics Inc., SceneRay Co.Ltd., Fisher Wallace, Brainsway Ltd, and Cleveland. The countries covered in the deep brain stimulation device market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Key deep brain stimulation device market segments
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

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The Deep Brain Stimulation Device Global Market Report 2023  offers a comprehensive perspective on the market size, trends, drivers, opportunities, strategies, and analysis of companies. These reports empower businesses to conduct effective data analysis and devise well-informed strategies.

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