Global Deep Brain Stimulation Devices Market Size To Worth USD 3.44 Billion By 2033 | CAGR OF 10.22%
Category: HealthcareGlobal Deep Brain Stimulation Devices Market Size To Worth USD 3.44 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Deep Brain Stimulation Devices Market Size is to Grow from USD 1.30 Billion in 2023 to USD 3.44 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 10.22% during projected period.
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Browse key industry insights spread across 213 pages with 120 Market data tables and figures & charts from the report on the "Global Deep Brain Stimulation Devices Market Size, Share, and COVID-19 Impact Analysis, By Product (Single-channel, and Dual-channel), By Application (Parkinson’s Disease, Epilepsy, Dystonia, and Essential Tremor), By End User (Hospitals, Neurology Clinics, Ambulatory Surgical Centers, Research Centers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/deep-brain-stimulation-devices-market
Deep brain stimulation (DBS) is a treatment that uses an implanted device to send an electrical current directly to specific parts of the brain. The electrodes generate electrical impulses that impact brain function, thereby curing some medical conditions. Electrical impulses can also affect cells and chemicals in the brain, causing medical issues. A pacemaker-like device implanted beneath the skin in the upper chest controls the amount of stimulation delivered during deep brain stimulation. A wire beneath the skin connects this device to the electrodes in the brain. It is most widely used for illnesses including Parkinson's disease and epilepsy, but researchers are investigating if it can help with many other conditions as well. The deep brain stimulation (DBS) market is growing due to a variety of factors. These include the rising prevalence of neurological disorders, advances in DBS technology that improve its safety and efficacy, increased awareness and acceptance of DBS among patients and healthcare professionals, rising healthcare spending and favorable reimbursement policies, expanding DBS applications beyond Parkinson's disease, improved patient outcomes, and significant investments in research and development that drive innovation. However, several reasons contribute to the market's lack of effectiveness in deep brain stimulation. Surgical risks, including infection and stroke, are associated with the treatment, as are battery life, maintenance, cost, and accessibility, while potential side effects such as cognitive alterations and mood distances provide concerns.
The dual-channel segment is anticipated to hold the greatest share of the deep brain stimulation devices market during the projected timeframe.
Based on the product, the deep brain stimulation devices market is categorized into single-channel and dual-channel. Among these, the dual-channel segment is anticipated to hold the greatest share of the deep brain stimulation devices market during the projected timeframe. The dual-channel segment's dominance in the global deep brain stimulation device market suggests that this technology is preferred by both consumers and healthcare practitioners. Dual-channel devices might provide more precise and personalized stimulation, perhaps enhancing therapeutic outcomes for people with neurological diseases.
The Parkinson’s disease segment is anticipated to hold the largest share of the deep brain stimulation devices market during the projected timeframe.
Based on the application, the deep brain stimulation devices market is categorized into Parkinson’s disease, epilepsy, dystonia, and essential tremor. Among these, the Parkinson’s disease segment is anticipated to hold the largest share of the deep brain stimulation devices market during the projected timeframe. Parkinson's disease is predicted to dominate the market for deep brain stimulation devices due to its prevalence and severity, as well as the efficacy of DBS as a therapy option. Parkinson's disease is a degenerative disease that significantly affects motor function and quality of life for millions of people worldwide.
The hospital segment dominates the market with the largest market revenue share through the forecast period.
Based on the end-user, the deep brain stimulation devices market is categorized into hospitals, neurology clinics, ambulatory surgical centers, and research centers. Among these, the hospital segment dominates the market with the largest market revenue share through the forecast period. The hospital category is projected to dominate due to the widespread availability of cutting-edge facilities in medical settings. Furthermore, deep brain stimulation surgeries require extreme precision and immediate medical treatment when necessary. As a result, the presence of the aforementioned elements encourages hospital sector expansion in the deep brain stimulation devices market.
North America is expected to hold the largest share of the deep brain stimulation devices market over the forecast period.
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North America is expected to hold the largest share of the deep brain stimulation devices market over the forecast period. This is owing to the expansion of healthcare research and development operations, which has resulted in a surge in progress in the field. Major players in the industry have a significant presence in the United States, which will help drive market expansion. The growing prevalence of neurological disorders, significant R&D spending, product approvals from the US Food and Drug Administration (FDA), and technical breakthroughs are all important factors driving market expansion in North America.
Asia Pacific is predicted to grow at the fastest pace in the deep brain stimulation devices market during the projected timeframe. This is due to the expansion of healthcare research and development operations, which has resulted in increased progress in the industry. Major industry players have a strong presence in the United States, which will assist fuel market growth. The increasing prevalence of neurological illnesses, increased R&D spending, FDA product approvals, and technological innovations are all essential factors driving market growth in North America.
Major key players in the deep brain stimulation devices market include Abbott, Medtronic, Neuropace Inc., Renishaw Plc., Beijing Pinchi Medical Equipment Co. Ltd, Boston Scientific Corporation, Nexstim, LivaNova Plc, Aleva Neurotherapeutics S.A. and others.
Recent Developments
- In January 2024, Medtronic received FDA approval for its Percept RC deep brain stimulation (DBS) device, which treats movement disorders such as Parkinson's disease, essential tremor, dystonia, and epilepsy.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the deep brain stimulation devices market based on the below-mentioned segments:
Global Deep Brain Stimulation Devices Market, By Product
- Single-channel
- Dual-channel
Global Deep Brain Stimulation Devices Market, By Application
- Parkinson’s Disease
- Epilepsy
- Dystonia
- Essential Tremor
Global Deep Brain Stimulation Devices Market, By End User
- Hospitals
- Neurology Clinics
- Ambulatory Surgical Centers
- Research Centers
Global Deep Brain Stimulation Devices Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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