WASHINGTON, March 08, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Brain Pacemaker Market finds that high treatment and diagnosis rate of diseases such as, Parkinson’s disease, epilepsy & other neuro-stimulation diseases is a key factor that propel the growth of Brain Pacemaker Market in coming years. However, high device cost and stringent regulations for medical devices are some of the key obstacles that hamper the growth of Brain Pacemaker Market during forecast period. Whereas, increasing research trials and emergence of technically sound medical equipment will provide lucrative growth opportunities for Brain Pacemaker Market in near future. The total Global Brain Pacemaker Market is estimated to reach USD 3.941 Billion by 2028.
The market stood at a revenue of USD 1.44 Billion in the year 2021, and expected to grow at a Compound Annual Growth Rate (CAGR) of 15.1%, states Vantage Market Research, in a report, titled “Brain Pacemaker Market by Application (Parkinson's Disease, Essential Tremor, Obsessive-Compulsive Disorder, Epilepsy), by End-User (Hospitals, Ambulatory Surgical Centers & Clinics, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
High Usage of Brain Pacemaker in Neurological Disorders Propels the Market
Nowadays, neurological disorders such as, Parkinson, Epilepsy and Alzheimer are increasing at a pace. A Brain Pacemaker is an electronic device that provides electrical pulse to specific targets in the brain. This device is majorly used in neurological disorders to regulate the stimulation parameters in real-time. Thus, increasing incidences of neurological disorders is expected to augment the growth of Brain Pacemaker Market in recent years. In addition, this device provides potential benefits such as, better management of postoperative outcomes, resist the irregular electrical movements of the brain, long-term efficacy and deliver electrical signal & record electrical activities of the brain. All these benefits are also responsible for augmenting the growth of Brain Pacemaker Market in coming years.
Technological Advancement in Brain Pacemaker Augment the Market Demand
Many researchers & physicians are started clinical studies to offer an advanced system to medical team and it requires huge investment for doing these research activities. In addition, various advanced technology is introduced in Brain Pacemaker devices that includes, magnetic resonance imaging (MRI), robot-assisted implantation, integrated implantable pulse generators, enhanced microelectrode designs, individualized directed programming and multi-target stimulation. This advancement of Brain Pacemaker device introduces various features such as, greater efficacy, lesser adverse effects and symptomatic relief in patients. Thus, advancement in technologically sound Brain Pacemaker devices is accelerating the high growth of Brain Pacemaker Market in recent years.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Brain Pacemaker Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Accounted Largest Growth of Market
North America is predicted to witness high growth of Brain Pacemaker Market during forecast period. This growth is accounted owing to the large patient pool which are suffering from neurological disorders and high diagnosis & treatment rates of neurological diseases in this region. According to CDC (Centres for Disease Control and Prevention), around 30% population of U.S. suffered from active epilepsy and 0.02% of the population was diagnosed with Parkinson’s disease. In addition, high investment in the development of healthcare infrastructure, availability of large market players and technological advancement are some other factors that bolster the growth of Brain Pacemaker Market in this region.
Asia Pacific is accounted to mention the fastest growth of Brain Pacemaker Market in 2021. Factors such as, well-developed health care infrastructure, high aging population, and rising cases of neurological diseases are influencing the maximum growth of Brain Pacemaker Market in this region.
List of Prominent Players in the Brain Pacemaker Market:
- Medtronic (US)
- Boston Scientific Corporation (US)
- St. Jude Medical (US) (part of Abbott)
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Recent Developments:
January, 2021: Medtronic plc. announced its first enrolment in ADAPT-PD (Adaptive DBS Algorithm for Personalized Therapy in Parkinson's Disease). This adaptive deep brain stimulation is an investigational feature of the Percept™ PC device and provide therapy to manage symptoms of Parkinson's disease based on a patient's clinical state.
June, 2020: Medtronic plc. received Food and Drug Administration (FDA) approval for the Percept™ PC Deep Brain Stimulation (DBS) system. Brain Sense™ technology makes Percept the first and only DBS neuro-stimulation system with the ability to chronically capture and record brain signals while delivering therapy to patients with neurologic disorders associated with Parkinson’s disease, essential tremor, dystonia, epilepsy or obsessive-compulsive disorder (OCD).
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Brain Pacemaker Market?
- How will the Brain Pacemaker Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Brain Pacemaker Market?
- What is the Brain Pacemaker market drivers and restrictions?
- What will be the CAGR and size of the Brain Pacemaker Market throughout the forecast period?
This market titled “Brain Pacemaker Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 1.44 Billion |
| Projected Market Size in 2028 | USD 3.941 Billion |
| CAGR Growth Rate | CAGR of 15.1% From 2022 – 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Application
|
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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