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What Is the Forecast for the Deep Brain Stimulation Device Market Growth in 2025?
The market size for the deep brain stimulation device has seen accelerated growth in the last few years. The market will expand from $1.54 billion in 2024 to $1.72 billion in 2025, with a compound annual growth rate (CAGR) of 11.5%. The growth seen in the historic period is due to factors such as the rise in neurological disorders, an aging demographic, poor effectiveness of medications, heightened awareness and acceptance, and enhancements in surgical techniques.
What Is the Forecast for the Deep Brain Stimulation Device Market Size Through 2029?
Anticipations are high for the deep brain stimulation device market as substantial growth is expected to occur in the upcoming years. With a predicted compound annual growth rate (CAGR) of 11.7%, the market size is projected to reach a notable value of $2.67 billion in 2029. Multiple factors contribute to this potential surge including an increase in applications for deep brain stimulation (dbs), higher spending in healthcare, the creation of advanced devices, growing patient approval, government-driven initiatives and funding, and ongoing collaborations and partnerships. For the forecast period, key trends will encompass patient-focused design and user interface, advancements in closed-loop neuromodulation research, integration of telehealth, clarification of regulatory pathways, and a rise in collaborations and partnerships.
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What are the Key Market Players in Deep Brain Stimulation Device Market and How They’re Evolving?
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.
What Are the Primary Growth Drivers in the Deep Brain Stimulation Device Market?
The growth of the deep brain stimulation device market is anticipated to be fueled by the rising prevalence of neurological diseases. These disorders, which impact the central and peripheral nervous systems, are managed using deep brain stimulation devices to regulate abnormal brain activity and correct chemical imbalances causing various conditions. For example, the World Health Organization – a specialized health agency based in Switzerland – reported in February 2023 that approximately 50 million people worldwide had epilepsy. Additionally, the Parkinson’s Foundation – a US-based non-profit organization supporting those with Parkinson’s disease – reported in 2022 that the new diagnosis of Parkinson’s disease had risen to 90,000 per year from the previously projected rate of 60,000 diagnoses per year, a 50% increase. Therefore, the increased incidence of neurological disorders is driving the growth of the deep brain stimulation device market.
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What Are the Leading Segments in the Global Deep Brain Stimulation Device Industry?
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 Are the Key Market Trends in the Deep Brain Stimulation Device Industry?
Leading firms in the deep brain stimulation device industry are advancing technology, such as connected care, to increase the quality of patient care. This is done by offering remote programming, strengthening communication between patients and health service providers, and refining the results of treatment for people with movement disorders. Connected care technology enables consistent communication and the sharing of data between patients and healthcare providers using digital tools and platforms. This improves patient observation, treatment regulation, and general healthcare delivery. For example, Abbott Laboratories, a healthcare and medical equipment firm based in the US, gained approval in January 2024 from the US Food and Drug Administration for their Liberta RC DBS system. This system, the smallest rechargeable deep brain stimulation device, is used for treating movement disorders. The Liberta RC DBS system is distinctive for its remote programming through the NeuroSphere Virtual Clinic, a compact design that is 31% smaller than rival devices, and requires only 10 recharges annually. Furthermore, it features a wireless charging system that can refuel the device every 37 days, and is accompanied by user-friendly controls via an Abbott patient controller or iOS compatible devices.
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What Is the Regional Outlook for 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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This Report Delivers Insight On:
1. How big is the deep brain stimulation device market, and how is it changing globally?
2. Who are the major companies in the deep brain stimulation device market, and how are they performing?
3. What are the key opportunities and risks in the deep brain stimulation device market right now?
4. Which products or customer segments are growing the most in the deep brain stimulation device market?
5. What factors are helping or slowing down the growth of the deep brain stimulation device market?
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