The global brain pacemaker market is valued at USD 1,140.70 Million in 2022 and is expected to reach USD 3,740.81 Million by 2032, at a CAGR of 15.9 % from 2023 to 2032. Brain pacemaker is a device which is engineered for specific neutral targeting to customize therapy for patients with Parkinson’s disease and also other neurological diseases. It is considered as a milestone in the field of brain surgery. Brain pacemakers are also called deep brain stimulation devices, which are approved to treat several neurological conditions such as Alzheimer’s disease, Dystonia, and others.
A brain pacemaker is an electrical device, which stimulates an electrical beat to the heart if there is an arrhythmia (irregular heartbeat). It is an electrical machine (also known as wireless artifact-free neuromodulation device), which sends electrical stimulation if there is an irregular electrical activity in the brain. The device is autonomous and wireless, which means once the device learns to identify the signs of seizures (or other improper electrical activities in the brain), it can regulate the stimulation parameters on its own to resist the irregular electrical movements of the brain. Also, the device is closed-loop and can deliver electrical signal and record electrical activities of the brain simultaneously and regulate the stimulation parameters in real-time. Customized integrated circuits in the device can record the full message from the brain waves and electrical pulses. Additionally, the device can record electrical activities of the brain over 128 channels or from 128 points located in the brain, while other closed-loop systems can measure electrical activities of the brain over eight channels.
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Rise in prevalence of neurological disorders like Alzheimer’s, Parkinson’s, Epilepsy, across the world, and high rate of diagnosis and treatment of frontotemporal dementia, and other neuro-stimulation diseases are the critical factors driving the brain pacemaker market globally in the study period. However, stringent medical device regulatory norms and high costs associated with brain pacemakers are observed to restrain the growth of the global Brain pacemaker market in the analysis period. Technological advancements, ongoing clinical trials, increase in research and development investment by major players, and strategic agreements among key manufacturers are anticipated to trigger the demand of the global brain pacemaker market during the forecast period.
Key coverage of the report
- Company profiling with detailed strategies, financials, and recent developments.
- To define, describe, and forecast the global Brain Pacemaker market with respect to the type of product, end-user, sales channel, and region
- Strategical analysis of micro markets and macro markets with respect to individual growth trends, prospects, and contributions to the overall Brain pacemaker market.
- Demand and Supply GAP Analysis.
- Brain Pacemaker Market forecasts for seven years of all the mentioned segments, and the regional markets
- Analysis of the presence of Brain Pacemaker market in the country along with region-wise analysis and their market penetration across the regions, their structure, i.e., usage in clinics, ambulatory surgical centers, and hospitals and the availability of Brain Pacemaker facility.
- Detailed analysis of information regarding the major factors influencing the growth of the Brain pacemaker market (drivers, restraints, opportunities, and challenges).
- The regulatory framework of different nations is analyzed in detail.
- Key strategic initiatives of Brain Pacemaker industry like mergers, acquisitions, product developments, product launches, product agreements, rewards and recognitions, regulatory approvals, collaborations, partnerships, market extensions, service launches and market penetration of the market players and their detailed analysis.
- Analysis of competitive intelligence through strategic developments and market opportunities for stakeholders with complete details of the market leaders.
- A comprehensive mapping of the competitive landscape and global brain pacemaker market player’s behavior.
- Regional Competitors pipeline analysis of the Brain Pacemaker market.
- Complete Brain Pacemaker market forecast & estimation of the global Brain Pacemaker market with respect to five central regions—North America, Asia Pacific (APAC), Europe, Latin America, and MEA.
Key trends of the market
- Geographically, the Brain pacemaker market in North America accounts for the largest share of the global market, followed by Europe and APAC in the forecast period.
- Partnerships and collaborations for R&D activities and commercialization of new products are some of the key strategies adopted by the key players to increase their market share. For instance, Medtronic first received approval for the use of its DBS system for advanced Parkinson’s in 2002; the FDA approved it in 2023 for use with patients who have had Parkinson’s for at least four years.
- According to the Centers for Disease Control and Prevention (CDC), around 1.3% of the population of the U.S. suffered from active epilepsy, and 0.02% of the population was diagnosed with Parkinson’s disease in 2017.
- The cost for devices and surgery can range from $35,000 to $100,000 and is typically covered by private insurance and Medicare because of FDA approval in developed countries.
- The FDA has been working with neurological device manufacturers and professional societies such as NeuroPoint Alliance and NIH (Stroke Net) to facilitate the development of robust registries that will help with post market surveillance.
- Market players are continuously launching improved versions of their products, which, in turn, is leading to the growth of the segment.
- In 2019, Boston Scientific Corporation announced the U.S. Food and Drug Administration (FDA) approval of its Image ready MRI labeling for the Vercise Gevia Deep Brain Stimulation (DBS) System to be used in a full-body magnetic resonance imaging (MRI) environment.
- This system, with the Vercise Cartesia Directional Lead, is designed to treat the symptoms of Parkinson’s Disease by delivering the specific targeted electrical stimulation in the brain to provide optimal symptom relief and better control of unwanted side effects
Key players in the market
PINS medical, Boston group, Abbott, Medtronic, and Aleva Neurotherapeutics are the major players in Brain pacemakers market.
- The market in North America is expected to grow at a CAGR of 13.0% from 2019-2032.
- The APAC market was found to be the highest-growing segment with a CAGR of 16.4% during the analysis period.
- The unmet needs of the huge population base and the developing healthcare network in this region are predicted to push forward the growth in this region. The Asia Pacific is anticipated to witness profitable growth over the forecast period in Brain pacemaker market.
- New product development and collaborative developments are some key strategic initiatives taken in this industry to sustain themselves in the competition. For instance, in 2018, Abbott’s Infinity Deep Brain Stimulation system provides relief of symptoms—such as tremor and rigidity—that allows people to use an Apple iPod controller to manage their therapy.
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. For the purpose of this study, have segmented the Brain pacemakers market into product types, Application type, end user, sales channel, and region.
Based on the product: (Revenue, USD Million; 2023-2032):
- Single Channel
- Dual Channel
Based on Applications (Revenue, USD Million; 2023-2032):
- Parkinson’s Disease
- Essential Tremor
- Obsessive-Compulsive Disorder
Based on the end-user: (Revenue, USD Million; 2023-2032)
- Ambulatory Surgical Centers & Clinics
Based on the Sales channel (Revenue, USD Million; 2023-2032)
- Channel sales
- Direct sales
Based on Region (Revenue, USD Million; 2023-2032)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Rest of Latin America
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