Global Brain Pacemaker Devices Market: Overview
Pacemaker is an electrical device, which prompts an electrical beat to the heart if there is irregular heartbeat (or arrhythmia). Brain pacemaker is an electrical device (also known as wireless artifact-free neuro-modulation device), which sends electrical stimulation to the brain if there is an irregular electrical activity. The device is wireless and autonomous, which means once the device learns to identify the signs of seizures (or other irregular electrical activities in the brain), it can regulate the stimulation parameters on its own to resist the irregular electrical activities of the brain. Additionally, the device is closed-loop, and can deliver electrical signal and record electrical activities of the brain simultaneously and regulate the stimulation parameters in real time. Customized integrated circuits in the device can register the full signal from the brain waves and electrical pulses. Furthermore, the device can register electrical activities of the brain over 128 channels or from 128 points located in the brain, while other closed loop systems can measure electrical activities of the brain over 8 channels.
Global Brain Pacemaker Devices Market: Key Trends
The global brain pacemaker devices market is primarily driven by rise in cases of Parkinson’s disease & epilepsy across the world, and high rate of diagnosis and treatment of epilepsy, Parkinson’s disease, and other neuro-stimulation diseases. However, stringent medical device regulatory standards and high price are projected to hamper the growth of the global market in the near future. Technological advancements, ongoing clinical trials, increase in research and development expenditure by major players, and strategic alliances among key companies are anticipated to fuel the growth of the global brain pacemaker devices market during the forecast period.
Global Brain Pacemaker Devices Market: Segmentation
The global brain pacemaker devices 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. The epilepsy segment held significant market share in 2017, followed by the Parkinson’s disease segment. Based on end-user, the global brain pacemaker devices market can be divided into hospitals & ambulatory surgery centers, specialized neurology centers, and others (academic & research centers). The hospitals & ambulatory surgery centers segment accounted for the largest market share in 2017, followed by the specialized neurology centers segment.
Global Brain Pacemaker Devices Market: Regional Analysis
In terms of region, the global brain pacemaker devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the largest share of the global market in 2017 due to large number of people suffering from neurological abnormalities, high diagnosis & treatment rates of neurological diseases, robust health care infrastructure, and presence of major players. According to the Centers for Disease Control and Prevention (CDC), around 1.3% of the population of the U.S. suffered from active epilepsy and 0.02% of the population was diagnosed with Parkinson’s disease in 2017. Europe held the second largest market share in 2017. The market in the region is anticipated to expand at the highest CAGR during the forecast period, owing to increase in cases of neurological diseases, well-established health care infrastructure, and presence of key players. Developing health care infrastructure and aging population are projected to propel the bran pacemaker devices market in Asia Pacific during the forecast period. Low health awareness and inadequate health care infrastructure are expected to restrain the market in Latin America and Middle East & Africa from 2018 to 2026.
Global Brain Pacemaker Devices Market: Competitive Landscape
Key players in the global brain pacemaker devices market are Medtronic, Boston Scientific Corporation, and St. Jude Medical (part of Abbott), among others.
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