What are the Historical Developments and Current Growth Metrics of the Brain Pacemaker Market?
The brain pacemaker market has seen considerable growth due to a variety of factors.
• The brain pacemaker market has shown rapid growth in recent years. It is projected to increase from $1.57 billion in 2024 to $1.82 billion in 2025 at a CAGR of 15.5%.
This growth is attributed to the increasing prevalence of Parkinson’s disease, continuous improvements in neuromodulation technologies, clinical success and approvals, and rising healthcare expenditures.
What Does Future Hold for The Brain Pacemaker Market By 2029?
The brain pacemaker market is expected to maintain its strong growth trajectory in upcoming years.
• The brain pacemaker market is projected to grow rapidly, reaching $3.19 billion by 2029 at a CAGR of 15.1%.
Growth drivers include the aging population, increased awareness, better diagnostic techniques, expanded indications, improved surgical techniques, and patient preference for non-pharmacological treatments. Trends include advanced targeting algorithms, closed-loop DBS systems, wireless charging, minimally invasive surgery, and battery tech innovations.
What Are The Primary Growth Drivers In The Brain Pacemaker Market?
The growing incidence of neurological disorders is expected to drive the growth of the brain pacemaker market. Neurological illnesses, which include conditions like epilepsy and Parkinson's disease, are becoming more common due to aging populations and environmental factors. Brain pacemakers deliver electrical impulses to regulate abnormal brain activity, helping to alleviate symptoms. The World Federation of Neurology reported in October 2023 that over 40% of the global population suffers from neurological conditions, and this is expected to increase by 2050.
What Is The Segmentation Of The Global Brain Pacemaker Market?
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
Subsegments:
1) By Single Channel: Implantable Single Channel Brain Pacemakers, Wearable Single Channel Brain Pacemakers
2) By Dual Channel: Implantable Dual Channel Brain Pacemakers, Wearable Dual Channel Brain Pacemakers
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What New Trends Are Influencing The Brain Pacemaker Market?
Companies in the brain pacemaker market are developing advanced products like BrainSense technology to optimize deep brain stimulation therapies. This technology allows for the recording of brain signals, which helps personalize therapy. In January 2024, Medtronic, a US-based medical technology company, introduced the Percept RC deep brain stimulation system, which integrates BrainSense technology to record brain activity and tailor therapy to the patient's needs.
Who Are the Key Players In The Brain Pacemaker Market?
Major companies operating in the brain pacemaker market are:
• 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.
What Are The Regional Insights Into The Brain Pacemaker Market?
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. The regions covered in the brain pacemaker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
