Global Brain Pacemaker Market Opportunities 2024, Forecast To 2033
22 Aug, 2024
The brain pacemaker market has seen rapid growth, increasing from $1.37 billion in 2023 to $1.57 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. This expansion is due to the rising prevalence of Parkinson's disease, continuous improvements in neuromodulation technologies, successful clinical outcomes and approvals, increased awareness of movement disorders, and rising healthcare expenditure. The market is projected to grow rapidly, reaching $2.77 billion by 2028 at a CAGR of 15.2%, supported by an aging population, better diagnostic techniques for neurological conditions, expanding indications, improved surgical techniques, new device regulatory approvals, and patient preferences for non-pharmacological treatments. Notable trends expected during the forecast period include advanced targeting algorithms, the development of closed-loop DBS systems, integration of wireless charging capabilities, innovations in minimally invasive surgical techniques, and advancements in battery technology.
Global Brain Pacemaker Market Key Driver
The growing prevalence of neurological illnesses is expected to drive the brain pacemaker market's expansion. Neurological disorders, which affect the nervous system, are increasing due to factors such as an aging population, lifestyle habits, environmental exposures, genetic predispositions, infectious diseases, traumatic injuries, healthcare disparities, and urbanization. Brain pacemakers help manage these conditions by delivering targeted electrical impulses to regulate abnormal brain activity, alleviating symptoms, and improving patients' quality of life. As of October 2023, over 40% of the global population suffers from some neurological condition, a figure projected to nearly double by 2050. Additionally, annual global stroke-related deaths are estimated at 9.7 million, expected to rise by 50% by 2050. Consequently, the increasing incidence of neurological disorders is fueling growth in the brain pacemaker market.
Get A Free Sample Of The Brain Pacemaker Market ReportGlobal Brain Pacemaker Market Segments
The brain pacemaker market covered in this report is segmented –
1) By Type: Single Channel, Dual Channel
2) By Application: Dystonia, Epilepsy, Essential Tremor, Obsessive-Compulsive Disorder, Parkinson's Disease, Other Applications
3) By Sales Channel: Channel Sales, Direct Sales
4) By End-User: Hospitals, Ambulatory Surgical Centers And Clinics, Other End-Users
By Geography:The regions covered in the brain pacemaker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the brain pacemaker market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Brain Pacemaker Industry Players
Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, LivaNova PLC, Renishaw plc, Beijing PINS Medical Co. Ltd., NeuroPace Inc., SPR Therapeutics, SceneRay Co. Ltd., Nexeon MedSystems Inc., Soterix Medical Inc., BrainsGate Ltd., Functional Neuromodulation Inc., Aleva Neurotherapeutics SA, NeuroSigma Inc., NeuroOne Medical Technology, Fisher Wallace Laboratories Inc., Bioinduction Limited, Neuronetics Inc., Synchron Inc., Neuro Device Group S.A.
Purchase The Global Brain Pacemaker Market Report Directly And Get A Swift DeliveryBrain Pacemaker Market Overview
Brain pacemaker refers to an implantable medical device used to treat neurological conditions such as Parkinson's disease and epilepsy. It consists of electrodes implanted in specific brain regions, connected to a pulse generator implanted in the chest. The device sends electrical impulses to targeted areas of the brain to regulate abnormal brain activity.
Brain Pacemaker Global Market Report 2023 provides data on the global brain pacemaker market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The brain pacemaker market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.