Venezuela Deep Brain Stimulation Devices Market Size & Outlook
Venezuela deep brain stimulation devices market, 2018-2030 (US$M)
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Venezuela deep brain stimulation devices market highlights
- The Venezuela deep brain stimulation devices market generated a revenue of USD 4.9 million in 2023 and is expected to reach USD 8.7 million by 2030.
- The Venezuela market is expected to grow at a CAGR of 8.6% 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 4.9 million |
| Market revenue in 2030 | USD 8.7 million |
| Growth rate | 8.6% (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, Venezuela accounted for 0.4% 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 53.06% in 2023. Horizon Databook has segmented the Venezuela deep brain stimulation devices market based on single channel, dual channel covering the revenue growth of each sub-segment from 2018 to 2030.
Low awareness about prevention and treatment of neurological disorders and mental illness is a major factors restraining market growth over the forecast period. Less number of medical facilities and surgeries being performed in the country is also limiting the market growth.
Thus, the demand for deep brain stimulation devices is low in the country. Furthermore, limited number of key players operating in the market is one of the major factors impeding market growth.
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Deep Brain Stimulation Devices Market Scope
Deep Brain Stimulation Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Venezuela deep brain stimulation devices market size, by product, 2018-2030 (US$M)
Venezuela Deep Brain Stimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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