Brain Pacemaker Market
Brain Pacemaker Market - Global Industry Assessment & Forecast
#
Pages:
170
2022
Feb - 2022
VMR-1312
Segments Covered
By
Application Parkinson's Disease, Essential Tremor, Obsessive-Compulsive Disorder, Epilepsy , Dystonia, Alzheimer's
-
By
End-User Hospitals, Ambulatory Surgical Centers & Clinics, Others
-
By
Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
 Base Year:
|
2022 |
| Forecast
Years:
|
2023 - 2030 |
 Historical
Years:
|
2017 - 2021 |
 Revenue
2022: |
USD 1.15 Billion |
 Revenue 2030:
|
USD 3.52 Billion |
 Revenue CAGR
(2023 - 2030): |
15.00% |
Fastest Growing Region (2023 -
2030)
|
Asia Pacific |
Largest Region (2022):
|
North America |
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- Country/Region-specific Report
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Market Synopsis:
Global Brain Pacemaker market is valued at USD 1.15 Billion in 2022 and is projected to attain a value of USD 3.52 Billion by 2030 at a CAGR of 15.00% during the forecast period, 2022–2028. A pacemaker is an electrical device that causes an electrical beat to be sent to the heart if the heartbeat is irregular (or arrhythmia). If there is an irregular electrical activity, a brain pacemaker (also known as a wireless artifact-free neuro-modulation device) gives electrical stimulation to the brain. The gadget is wireless and self-contained, which means that once it learns to recognize the signals of seizures (or other abnormal electrical activity in the brain), it can regulate the stimulation parameters on its own to counteract the abnormal electrical activity. The device is also closed-loop, meaning it can administer electrical signals while simultaneously recording electrical events in the brain and regulating stimulation parameters in real time.
Factors such as the growing population, the need to expand healthcare access, the rising prevalence of chronic diseases and conditions, a physician shortage, advancements in telecommunications, government support, increasing awareness, and increasing technology adoption are all driving growth in the Brain Pacemaker market. In the aftermath of COVID-19 regional variances in regulations, fraud, and the use of social media for care provision, on the other hand, will have a negative impact on market growth during the projection period.
Brain Pacemaker Market Size, 2022 To 2030 (USD Billion)
Rise in Cases of Parkinson’s Disease & Epilepsy Across the World
The growth in incidence of Parkinson's disease and epilepsy around the world, as well as the rising rate of diagnosis and treatment of epilepsy, Parkinson's disease, and other neuro-stimulation disorders, are driving the global brain pacemaker devices market. However, the global market's expansion is expected to be hampered in the near future by strict medical device regulatory standards and high prices. During the forecast period, technological advances, continuing clinical trials, increased research and development spending by leading players, and strategic partnerships among key businesses are expected to drive the worldwide brain pacemaker devices market.
High Cost
The cost of implementing a Brain Pacemaker system across an entire healthcare center is considerable. This has been exacerbated by the pandemic, which has caused hospitals to redirect cash from other departments to treat COVID-19 patients. Due to the low priority now assigned to this sector, scheduled orders for RFID or RTLS systems may be postponed or cancelled. The American Hospitals Association estimates that the epidemic cost the country USD 202.6 billion between March and June 2020. A single COVID-19 patient's treatment with ventilator assistance can cost upwards of USD 88,000. As a result, Brain Pacemaker systems are extremely expensive, costing at least USD 2 million to implement in a large hospital.
The Brain Pacemaker market scope can be tabulated as below:
Market Segmentation:
The global Brain Pacemaker market can be segmented based on application, end-user, and region. In terms of Application, the global market can be classified into Parkinson’s disease, Epilepsy, and Others. Based on End-user, Hospitals & Ambulatory Surgery Centers, Specialized Neurology Centers, And Others (Academic & Research Centers). Based on Region, the Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Below tree is interactive. You can click the nodes to get more information.
North America to Continue Dominating the Brain Pacemaker Market
North America is the market leader, followed by Europe. Because of the huge number of people suffering from neurological abnormalities, high detection and treatment rates of neurological disorders, robust health care infrastructure, and the presence of key competitors, North America held the greatest share of the global market in 2021. In 2017, the Centers for Disease Control and Prevention (CDC) estimated that 1.3 percent of the population in the United States had active epilepsy, and 0.02 percent of the population had Parkinson's disease.
Key Players:
Key participants operating in the Brain Pacemaker market is: Medtronic (US), Boston Scientific Corporation (US),St. Jude Medical (US)(part of Abbott)
The Brain Pacemaker market is segmented as follows:
| Parameter | Details |
|---|---|
| Segments Covered |
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| Regions & Countries Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
FAQ
Frequently Asked Question
What is the global demand for Brain Pacemaker in terms of revenue?
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The global Brain Pacemaker valued at USD 1.15 Billion in 2022 and is expected to reach USD 3.52 Billion in 2030 growing at a CAGR of 15.00%.
Which are the prominent players in the market?
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The prominent players in the market are Medtronic (US), Boston Scientific Corporation (US),St. Jude Medical (US)(part of Abbott).
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 15.00% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
-
The driving factors of the Brain Pacemaker include
- Rise in Cases of Parkinson’s Disease & Epilepsy Across the World
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Brain Pacemaker in 2022.
