Brain Pacemaker Market
Brain Pacemaker Market - Global Industry Assessment & Forecast
- 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
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 1.44 Billion|
|Revenue 2028:||USD 3.941 Billion|
|Revenue CAGR (2022 - 2028):||15.1%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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Global Brain Pacemaker market is valued at USD 1.44 Billion in 2021 and is projected to attain a value of USD 3.941 Billion by 2028 at a CAGR of 15.1% 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, 2021 To 2028 (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.
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:
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 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:
|Regions & Countries Covered||
|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|
Frequently Asked Question
The global Brain Pacemaker valued at USD 1.44 Billion in 2020 and is expected to reach USD 3.941 Billion in 2028 growing at a CAGR of 15.1%.
The prominent players in the market are Medtronic (US), Boston Scientific Corporation (US),St. Jude Medical (US)(part of Abbott).
The market is project to grow at a CAGR of 15.1% between 2021 and 2028.
The driving factors of the Brain Pacemaker include
- Rise in Cases of Parkinson’s Disease & Epilepsy Across the World
North America was the leading regional segment of the Brain Pacemaker in 2020.