Dublin, Nov. 23, 2021 (GLOBE NEWSWIRE) -- The "Global Brain Implants Market Size, Share & Trends Analysis Report 2021-2028 by Product (Deep Brain Stimulator, Vagus Nerve Stimulator, Spinal Cord Stimulator), by Application (Chronic Pain, Parkinson's Disease, Epilepsy)" report has been added to ResearchAndMarkets.com's offering.
The global brain implants market size is anticipated to reach USD 9.2 billion by 2028. The market is expected to expand at a CAGR of 9.1% from 2021 to 2028.
The rise in neurological disorders such as epilepsy, Parkinson's disease, depression, and tremors as well as growing investments in R&D to develop cost-effective brain implants is attributing to the growth of the market.
The presence of a large population base suffering from various neurological and physiological disorders and conditions is expected to boost the demand for implants during the forecast period. For instance, as per the Parkinson's Foundation 2016 report, over 10 million people globally are living with Parkinson's disease (PD).
Thus, the increasing cases of PD are expected to drive the market. However, the outbreak of the COVID-19 pandemic is restricting the growth of the market. For instance, as per the Neuromodulation Society of the U.K. and Ireland, in the U.K. all the NHS hospitals were instructed to suspend all the non-urgent elective surgeries due to the pandemic from 15th April in 2020 for at least three months.
In addition, technological advancements such as self-charging implants and memory chips are anticipated to provide the market with growth opportunities over the forecast period. For instance, in January 2020, Abbott's Infinity DBS received an extended indication approval from the U.S. FDA for PD treatment.
Brain Implants Market Report Highlights
- On the basis of product type, the deep brain stimulator segment dominated the market in 2020 with a share of 37.0%, owing to the rising geriatric population prone to neurological diseases, coupled with growing investments in the development of the medical device
- Based on application, the chronic pain segment dominated the market in 2020 with a share of 58.8%, due to the increasing prevalence of chronic pain disorders such as migraine, leg pain, and disk surgery pain. According to Migraine Research Foundation 2020, migraine is the 3rd most prevalent neurological illness across the world, affecting 1 billion people worldwide
- North America dominated the market with the highest revenue share of 42.9% in 2020. This is due to the high prevalence of psychological disorders, availability of highly skilled physicians, and rise in awareness about treatments in this continent
- Asia Pacific is expected to significantly lead the market in the future from 2021 to 2028 owing to increasing affordability, and the rising number of awareness programs about brain implants benefits
Key Topics Covered:
Chapter 1 Methodology and Scope
1.1 Market Segmentation and Scope
1.2 Research Methodology
1.3 Information Procurement
1.4 Information Or Data Analysis
1.5 Market Formulation & Validation
1.6 Model Details
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
Chapter 3 Brain Implants Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Ancillary Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 List Of Key Applications
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1. Increase In The Prevalence Of Neurological Disorders
3.4.1.2 Technological Advancement In Devices
3.4.1.3 Growing Demand For Minimally Invasive Neurosurgical Procedures
3.4.2 Market Restraints Analysis
3.4.2.1 High Cost Of Devices
3.4.2.2 Safety Concerns
3.5 Brain Implants: Market Analysis Tools
3.5.1 Industry Analysis - Porter's
3.5.2 Pestle Analysis
3.5.3 Major Deals And Strategic Alliances
3.5.3.1 New Product Launch
3.5.3.2 Acquisition
3.5.3.3 Partnerships
3.5.4 Market Entry Strategies
Chapter 4 Brain Implants Market: Segment Analysis, By Product, 2016 - 2028 (USD Million)
4.1 Definition and Scope
4.2 Product Market Share Analysis, 2020 & 2028
4.3 Segment Dashboard
4.4 Global Brain Implants Market, By Product, 2016 to 2028
4.5 Market Size & Forecasts And Trend Analyses, 2016 To 2028
4.5.1 Deep Brain Stimulators
4.5.2 Spinal Cord Stimulators
4.5.3 Vagus Nerve Stimulators
Chapter 5 Brain Implants Market: Segment Analysis, By Application, 2016 - 2028 (USD Million)
5.1 Definition And Scope
5.2 Application Market Share Analysis, 2020 & 2028
5.3 Segment Dashboard
5.4 Global Brain Implants Market, By Application, 2016 To 2028
5.5 Market Size & Forecasts And Trend Analyses, 2016 To 2028
5.5.1 Chronic Pain
5.5.2 Epilepsy
5.5.3 Parkinson's Disease
5.5.4 Depression
5.5.5 Essential Tremor
5.5.6 Alzheimer's Disease
Chapter 6 Brain Implants Market: Regional Market Analysis, By Product, Application, 2016 - 2028 (USD Million)
6.1 Definition & Scope
6.2 Regional Market Share Analysis, 2020 & 2028
6.3 Regional Market Dashboard
6.4 Regional Market Snapshot
6.5 Market Size, & Forecasts, and Trend Analysis, 2020 & 2028
Chapter 7 Brain Implants Market - Competitive Analysis
7.1 Recent Developments & Impact Analysis, By Key Market Participants
7.1.1 Ansoff Matrix
7.2 Private Companies
7.2.1 Regional Network Map
7.2.2 Company Market Position Analysis
7.3 Company Profiles
- Boston Scientific Corporation
- Abbott (St. Jude Medical Inc)
- Medtronic
- Nevro Corp.
- Neuropace Inc.
- Synapse Biomedical Inc.
- Aleva Neurotherapeutics Sa.
For more information about this report visit https://www.researchandmarkets.com/r/x8qs2o
