The growth of the Deep Brain Stimulation Devices Market is driven by several key factors, including the increasing prevalence of neurological disorders such as Parkinson's disease, dystonia, and epilepsy, as well as advancements in DBS technology. The rise in the geriatric population, who are more prone to neurological conditions, and increased awareness and acceptance of DBS therapy are also contributing to market growth. Continuous innovations in device technology, including rechargeable batteries and enhanced precision in targeting brain areas, are further propelling the market.

Key Players

The major key players are, Nevro Corporation, Abbott Laboratories, Neuronetics Inc., Aleva Neurotherapeutics SA, Beijing PINS Medical Co., Ltd., LivaNova PLC and others.

Impact of the Russia-Ukraine Conflict

The ongoing conflict between Russia and Ukraine has had a notable impact on the global healthcare market, including the DBS devices sector. Disruptions in supply chains, increased costs of raw materials, and economic sanctions have affected the availability and cost of medical devices. Despite these challenges, the DBS market has shown resilience, with manufacturers and suppliers adopting strategies such as local sourcing, diversified supply chains, and strategic stockpiling to ensure the continued supply of essential devices.

KEY SEGMENTS

By Product

• Single Channel
• Dual Channel

By Application

• Pain Management
• Epilepsy
• Essential Tremor
• Obsessive-Compulsive Disorder (OCD)
• Depression
• Dystonia
• Parkinson’s Disease
• Others

By End Use

•  Hospitals
•  Neurology Clinics
•  Ambulatory Surgical Centres
•  Research Centres

The Impact of Economic Slowdown

The global economic slowdown has influenced healthcare spending and investment priorities. However, the critical nature of neurological treatments and the increasing burden of neurological disorders have maintained the demand for DBS devices. Healthcare systems are prioritizing funding for essential and life-enhancing medical technologies, ensuring that patients continue to receive necessary treatments. The push for cost-effective and efficient healthcare solutions is expected to drive the adoption of advanced DBS devices.

Regional Analysis

• North America: Dominates the DBS devices market, driven by a well-established healthcare infrastructure, high prevalence of neurological disorders, and significant investment in medical technology. The presence of leading market players and favorable reimbursement policies further contribute to market growth.
• Europe: Holds a substantial share of the market, with increasing healthcare expenditure, a rising geriatric population, and growing awareness of DBS therapy. National health programs and research initiatives focusing on neurological disorders are key drivers in this region.
• Asia-Pacific: Expected to exhibit the highest growth rate during the forecast period. Factors such as a large aging population, improving healthcare infrastructure, and increasing awareness of advanced neurological treatments are propelling market expansion.
• Latin America and Middle East & Africa: These regions are also anticipated to experience growth, supported by increasing healthcare investments, improving healthcare facilities, and initiatives to enhance public health education regarding neurological treatments.

Key Takeaways

• The Deep Brain Stimulation (DBS) Devices Market is projected to grow from USD 1.30 billion in 2023 to USD 2.76 billion by 2031, at a CAGR of 9.8%.
• Market growth is driven by the rising prevalence of neurological disorders, advancements in DBS technology, and an increasing geriatric population.
• The Russia-Ukraine conflict and global economic slowdown have posed challenges, but the market remains resilient due to the essential nature of DBS treatments.
• North America and Europe currently dominate the market, while the Asia-Pacific region is expected to show the highest growth rate during the forecast period

Other Trending Report

Recombinant Vaccines Market Size

Ureteroscope Market Size

Wound Care Devices Market

Deep Brain Stimulation (DBS) Devices Market Size

Scoliosis Management Market Cancer biomarkers market Size

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Contact Us:

Akash Anand – Head of Business Development & Strategy

[email protected]

Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

Website: https://www.snsinsider.com