Covina, March 27, 2023 (GLOBE NEWSWIRE) -- Brain implants market is projected to grow from US$ 5.4 billion in 2022 to US$ 13.4 billion by 2032. Factor driving the growth of the global brain implants market is increase in number of neurological disorders including Parkinson’s and Alzheimer’s diseases, depression, epilepsy, and essential tremor among all age groups across the globe. Also, rising investment from the government authorities and various healthcare organizations in emerging countries to improve overall healthcare infrastructure is propelling the target market growth. Furthermore, increasing awareness along with reduction in the cost of manufacturing of brain implants by new developments are some opportunities for the players to increase target market. Moreover, factors like technological advancements in brain implants, along with rising disposable income in developed and developing countries, are boosting the growth of the target market.
Key Highlights:
- In February 2021, U.S. FDA (Food and Drug Administration) approved “gammaCore” vagus nerve stimulation device which is indicated to treat migraine in adolescent age between 12 and 17.
- In January 2021, Abbott Laboratories launched “NeuroSphere my Path”, a digital health app which is designed to track and report patients associated with spinal cord stimulation and dorsal ganglion therapy (DRG).
Key Market Insights from the report:
The global brain implants market accounted for US$ 5.4 billion in 2022 and is projected to register a moderate CAGR of 9.0% over the forecast period. The market report can be segmented on the basis of product type, application, and region.
- By product type, the global brain implants market is segmented into deep brain stimulator, spinal cord stimulator and vagus nerve stimulators. The deep brain stimulator segment is anticipated to have largest market over the forecast period, owning to increase in the incidences of Parkinson’s disease and the potential benefits of brain implants like long-term efficacy and better management of post-operative outcomes. The vagus nerve stimulators segment is expected to register the fastest growth in terms of revenue in the upcoming years, due to rise in incidences of epilepsy.
- By application, the global brain implants market is categorized into chronic pain, epilepsy, Parkinson’s disease, and others. The Parkinson’s disease segment is expected to have fastest growth rate in terms of revenue over the forecast period due to factors including drop in smoking rate and coffee consumption, especially in developed countries.
- By region, the market in North America is dominating the global brain implants market in terms of revenue and is expected to continue its dominance in the upcoming years. Due to increase in number of several neurological disorders such as Parkinson’s disease, epilepsy, Alzheimer’s disease, and others, increase in market in terms of revenue revenue in this region is anticipated to increase during the forecast period.
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Key Players:
- Laboratories
- Boston Scientific Corporation
- Medtronic
- Nevro Corp
- Neurotherapeutics SA
- Terumo Corporation
- Aleva LivaNova, PLC
- NDI Medical
- NeuroPace
- Synchron
Scope of the Report:
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for Brain Implant Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Brain Implant Market, By Product Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Deep Brain Stimulator
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Spinal Cord Stimulator
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
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What are the major types of brain implants available in the market, and what are their applications?
There are several types of brain implants available in the market, each designed for specific applications. Here are some of the major types of brain implants and their applications:
- Deep Brain Stimulation (DBS) Implants: DBS implants are used to treat movement disorders such as Parkinson's disease, essential tremor, and dystonia. The implant sends electrical signals to targeted areas of the brain to help reduce symptoms.
- Cochlear Implants: Cochlear implants are used to help people with severe hearing loss or deafness. The implant consists of an external speech processor and an internal electrode array that stimulates the auditory nerve directly.
- Retinal Implants: Retinal implants are used to restore partial vision to people with degenerative eye diseases such as retinitis pigmentosa. The implant consists of an electrode array that stimulates the remaining functional cells in the retina.
- Responsive Neurostimulation (RNS) Implants: RNS implants are used to treat epilepsy. The implant monitors brain activity and delivers electrical stimulation to prevent seizures before they occur.
- Brain-Computer Interfaces (BCIs): BCIs are used to help people with paralysis or other disabilities to control computers, robots, or other devices with their thoughts. The implant detects brain signals and translates them into commands for the device.
- Neuromodulation Implants: Neuromodulation implants are used to treat a variety of conditions, including chronic pain, depression, and anxiety. The implant sends electrical signals to targeted areas of the brain or nervous system to help regulate neural activity.
Other related reports:
- Deep Brain Stimulation Systems Market: By Product Type (Single-channel Deep Brain Stimulator and Dual-channel Deep Brain Stimulator), By Application (Parkinson's Disease, Essential Tremor, Obsessive Compulsive Disorder, Epilepsy, Dystonia, and Other Applications), By End User (Hospitals, Ambulatory Surgical Centers, Neurological Clinics, and Other End Users), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032
- Vocal Biomarkers Market: By Therapeutic Applications (Psychiatric Disorders, Parkinson’s Disease, Cognitive Impairment, Brain Trauma Injury, Respiratory Disorders, Cardiovascular Disorders and Others), By End user (Hospitals, Health Insurers, Academic Institutes, and Government Organizations) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2030
- Nerve Stimulators Market: By Type (Spinal Cord Stimulator (SCS), Deep Brain Stimulator (DBS) and Vagus Nerve Stimulator (VNS)), By Application (Parkinson’s Disease, Chronic Pain, Epilepsy and Depression), By End-User (Trauma Centers, Ambulatory Surgical Centers and Hospital & Clinics) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030
