Overview and Scope
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.
Sizing and Forecast
The brain pacemaker market size has grown rapidly in recent years. It will grow from $1.37 billion in 2023 to $1.57 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to increasing prevalence of Parkinson’s disease, continuous improvements in neuromodulation technologies, clinical success and approvals, rising awareness of movement disorders, rising healthcare expenditure.
The brain pacemaker market size is expected to see rapid growth in the next few years. It will grow to $2.77 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to aging population, increased awareness and better diagnostic techniques for neurological conditions, expanding indications, improved surgical techniques, obtaining regulatory approvals for new devices, patient preference for non-pharmacological treatments. Major trends in the forecast period include advanced targeting algorithms, development of closed-loop DBS systems, integration of wireless charging capabilities, advancements in minimally invasive surgical techniques, innovations in battery technology.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
The growing incidence of neurological illnesses is expected to propel the growth of the brain pacemaker market going forward. Neurological illnesses, also known as neurological disorders, are conditions that affect the nervous system. The growing incidence of neurological illnesses is primarily due to an aging population, lifestyle habits, environmental exposures, genetic predispositions, infectious diseases, traumatic injuries, healthcare disparities, and the effects of urbanization and industrialization. A brain pacemaker helps in neurological illnesses by delivering targeted electrical impulses to regulate abnormal brain activity, alleviating symptoms, and improving the quality of life for patients with neurological conditions. For instance, in October 2023, according to the World Federation of Neurology, a UK-based association of national neurological societies, over 40% of the global population suffers from some neurological condition, which is projected to nearly double by 2050. Further, the number of people who die from stroke globally is estimated to be 9.7 million deaths per year, which is expected to increase by 50% by 2050. Therefore, the growing incidence of neurological illnesses is driving the growth of the brain pacemaker market.
Key Industry Players
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.
The brain pacemaker market report table of contents includes:
1. Executive Summary
2. Brain Pacemaker Market Characteristics
3. Brain Pacemaker Market Trends And Strategies
4. Brain Pacemaker Market – Macro Economic Scenario
5. Global Brain Pacemaker Market Size and Growth
…..
32. Global Brain Pacemaker Market Competitive Benchmarking
33. Global Brain Pacemaker Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Brain Pacemaker Market
35. Brain Pacemaker Market Future Outlook and Potential Analysis
36. Appendix
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