The rise in prevalence of neurological disorders like Parkinson’s disease, Alzheimer’s, dementia and other neurological disorders are the major growth factors for brain pacemakers market.
According to the current analysis of Reports and Data, the global Brain Pacemakers market is expected to reach USD 3,740.81 million by the year 2026, in terms of value at a CAGR of 15.9%. Brain pacemaker is a neurostimulator, having an ability to send electrical impulses, through implanted electrodes, to specific targets in the brain for the treatment of neurological disorders. Deep brain stimulation (DBS) is a neurosurgical procedure involving the placement of brain pacemakers to treat neurological disorders. Increasing healthcare expenditure investments in the market, which augment the technological advancements in brain pacemakers are estimated to shape the growth of the brain pacemaker market. These advancements include enhanced microelectrode designs, robot-assisted implantation, multi-target stimulation, integrated implantable pulse generators, individualized directed programming, and magnetic resonance imaging (MRI). Due to the technological advancements in recent times, brain pacemakers have demonstrated lesser adverse effects and greater efficacy and symptomatic relief in patients with movement disorders as compared to conventional methods. Also, the potential benefits of deep brain stimulation therapy, such as better management of postoperative outcomes and long-term efficacy, are projected to facilitate growth of the brain pacemaker market over the forecast period. Furthermore, these advancements aid clinical researchers and physicians in investigational efficacy studies for the usage of Deep brain stimulation (DBS) in off-label clinical applications such as depression. However, high costs associated with brain pacemakers is anticipated to impede the market growth. Conversely, untapped potential of emerging economies such as China, India and Brazil is anticipated to provide attractive growth opportunities to the market players in the forecast period.
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Key companies operating in the market include:
PINS medical, Boston group, Abbott, and Medtronic, Aleva neurotherapeutics, and others.
Key findings from the report suggest
- The single channel product type segment of global brain pacemaker market is expected to grow at a high CAGR by 2026. The significant share is due to the use & adoption of the single channel devices across different medical settings. This segment is observed to grow enormously in the study period
- Different products are anticipated to be launched in the analysis period in the brain pacemaker market. Abbot is anticipated to improve on its its St. Jude medical infinity
- DBS system.
- Along with groundbreaking technology to help Parkinson’s, this system uses a wireless IOS device (an Apple iPod) to control stimulation. It is a feature allows patients to receive discreet, personalized treatment in the palm of their hand.
- The handheld programmer will enable to control how much or how little stimulation the patient needs, which is another breakthrough to enhance patient care.
- Clinical evidence from the INTREPID study reported that patients treated with the Vercise System sustained a 48% improvement in motor function as measured by the Unified Parkinson’s Disease Rating Scale (UPDRS).
- The three major manufacturers of brain pacemaker focused on neurology and had approximately $1billion in combined sales in the most recent reported quarter. Medtronic’s brain therapies group is the leader, with $522 million in sales in the most recent quarter, though it does not break out DBS sales specifically. Abbott’s neuromodulation unit had $300 million in global sales, with approximately 10% coming from DBS sales, but it says DBS has been growing since its launch in the U.S. last year.
- Abbott Laboratories acquired the DBS business with its acquisition of St. Jude Medical last year; and Boston Scientific, which currently offers its DBS system in Europe, hopes to receive U.S. approval by year-end. The combined company aimed to offer potent health resources and advanced connected medical devices to gain momentum in the health care industry.
- An estimated ten million people globally are affected by Parkinson’s disease, causing symptoms such as shaking or tremors, muscle stiffness, and slowness of movement.
On basis of product types and application offered by the Brain Pacemaker industry, the market is segmented into:
Based on the product: (Revenue, USD Million; 2016-2026):
- Single Channel
- Dual Channel
Based on Applications (Revenue, USD Million; 2016-2026):
- Parkinson’s Disease
- Essential Tremor
- Obsessive-Compulsive Disorder
Based on the end-user: (Revenue, USD Million; 2016-2026)
- Ambulatory Surgical Centers & Clinics
Based on the Sales channel (Revenue, USD Million; 2016-2026)
- Channel sales
- Direct sales
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Brain Pacemaker market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
The regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Benefits of Brain Pacemaker Market Report:
- Panoramic overview of the opportunities and risks in the Brain Pacemaker sector
- Study of recent innovations and developments in the industry
- Comprehensive study of the growth pattern of the Brain Pacemaker industry
- In-depth assessment of the competitive landscape of the key players of the Brain Pacemaker industry
- Analysis of the Brain Pacemaker market drivers, constraints, and opportunities
- Assessment of technological developments and latest trends of the industry
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