Colombia Deep Brain Stimulation Devices Market Size & Outlook
Colombia deep brain stimulation devices market, 2018-2030 (US$M)
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Colombia deep brain stimulation devices market highlights
- The Colombia deep brain stimulation devices market generated a revenue of USD 17.8 million in 2023 and is expected to reach USD 34.5 million by 2030.
- The Colombia market is expected to grow at a CAGR of 10% from 2024 to 2030.
- In terms of segment, dual channel was the largest revenue generating product in 2023.
- Single Channel is the most lucrative product segment registering the fastest growth during the forecast period.
Deep brain stimulation devices market data book summary
| Market revenue in 2023 | USD 17.8 million |
| Market revenue in 2030 | USD 34.5 million |
| Growth rate | 10% (CAGR from 2023 to 2030) |
| Largest segment | Dual channel |
| Fastest growing segment | Single Channel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Single Channel, Dual Channel |
| Key market players worldwide | Abbott Laboratories, Medtronic PLC, Boston Scientific Corp, Nexstim Oyj Registered Shs Reg S, LivaNova PLC, NeuroPace Inc |
Other key industry trends
- In terms of revenue, Colombia accounted for 1.5% of the global deep brain stimulation devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil deep brain stimulation devices market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 66.7 million by 2030.
Dual channel was the largest segment with a revenue share of 57.87% in 2023. Horizon Databook has segmented the Colombia deep brain stimulation devices market based on single channel, dual channel covering the revenue growth of each sub-segment from 2018 to 2030.
Less adoption of advanced healthcare facilities and declining healthcare expenditure by the government are major factors restraining the market growth in Colombia. In addition, lack of adequate number of hospitals & clinics in the country is a major factor restraining the market growth.
Such scenario restricts key players from entering the Colombian market as the scope for growth is significantly low. Furthermore, lack of skilled professionals and proper knowledge regarding technologically advanced products is a major drawback impeding the market growth.
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Deep Brain Stimulation Devices Market Scope
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| Name | Profile | # Employees | HQ | Website |
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Colombia deep brain stimulation devices market size, by product, 2018-2030 (US$M)
Colombia Deep Brain Stimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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