Saudi Arabia Deep Brain Stimulation Devices Market Size & Outlook
Saudi Arabia deep brain stimulation devices market, 2018-2030 (US$M)
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Saudi Arabia deep brain stimulation devices market highlights
- The Saudi Arabia deep brain stimulation devices market generated a revenue of USD 5.9 million in 2023 and is expected to reach USD 12.1 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 10.8% 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 5.9 million |
| Market revenue in 2030 | USD 12.1 million |
| Growth rate | 10.8% (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, Saudi Arabia accounted for 0.5% 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 Middle East & Africa, South Africa deep brain stimulation devices market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 27.2 million by 2030.
Dual channel was the largest segment with a revenue share of 57.63% in 2023. Horizon Databook has segmented the Saudi Arabia deep brain stimulation devices market based on single channel, dual channel covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia deep brain stimulation devices market is anticipated to grow at significant rate during the forecast period owing to improving healthcare infrastructure and increasing incidence of PD & essential tremor in the country.
Moreover, increase in disposable income due to economic growth and urbanization is anticipated to create lucrative growth opportunities for the market. Thus, key players in the market are strategically expanding their presence in the region and focusing on commercialization of their products at a relatively affordable price.
For instance, during FY 2018, Abbott received approval for its Infinity DBS system in Saudi Arabia for treatment of essential tremor and PD. The government of Saudi Arabia is diverting funds toward creating a robust healthcare infrastructure by developing new hospitals.
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Deep Brain Stimulation Devices Market Scope
Deep Brain Stimulation Devices Market Companies
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Saudi Arabia deep brain stimulation devices market size, by product, 2018-2030 (US$M)
Saudi Arabia Deep Brain Stimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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