Brain Implants Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3855
Brain Implants Market size is expected to grow significantly from 2019 to 2025.
Increasing adoption of advanced brain implants devices coupled with technological advancements accelerates the brain implants market growth. Launch and introduction of technologically advanced devices in market has improved patient’s convenience throughout. Moreover, availability and launch of cost-effective devices in the industry should foster the brain implants business growth. Growing demand for detection of different illness including brain disorders boosts brain implants industry growth. Furthermore, manufacturers are focusing on several detection devices that will further augment the business growth.
Favorable government regulations due to increasing occurrences of neurological disorders will propel the brain implants industry growth. Various initiatives undertaken by government and other organizations to prevent the number of depression and epilepsy cases among other diseases is expected to drive the demand for brain implants devices. Furthermore, rising depression cases globally, affects community, the family, and health of individuals. Thus, various initiatives and programs regarding increasing awareness for early detection of depression cases should foster industry growth. However, high cost of devices may hamper the brain implants market growth over the analysis timeframe.
Deep brain stimulator segment is anticipated to witness robust growth during the analysis timeframe. It is extensively used to treat intractable pain and use of this technology has proven to be effective for essential tremor and involuntary movements associated with Parkinson’s disease, dystonia and multiple sclerosis. Above-mentioned factors proves beneficial for the segmental growth. Moreover, the deep brain stimulator system consists of three components such as the lead, extension and internal pulse generator (IPG) or neurostimulator further boosts the business growth.
Depression segment will grow considerably during the forecast timeline owing to rising prevalence of diseases over the coming years. Depression is the most common health problem causing impairment in daily life. Also, more than 10 million cases in India per year are diagnosed that further accelerates the business growth. Adoption of brain implants in medical application has increased as it provides specific health information.
North America brain implants industry will account for worthwhile revenue share by 2025 owing to increasing government initiatives in this region. Furthermore, well-established healthcare facilities in this region and favorable policies making healthcare affordable and accessible Rise in prevalence of several neurological disorders and brain implants to treat brain related illness further fosters the brain implants industry growth.
Prominent industry players operating in brain implants market include Abbott, Medtronic, Boston Scientific Corporation, LivaNova, NeuroSigma, NDI Medical, NeuroPace, Synchron and Renishaw. Foremost business players operating in this market adopt abundant in-organic strategies to compete in the market over other players should enhance the industry growth. For instance, in August 2018, the US Food and Drug Administration has permitted over the air software upgrade for infinity implants manufactured by Abbott. These devices are used in Parkinson’s and essential tremor full-body MRI. This strategy has enhanced company’s portfolio.
Brain Implants Market By Product, 2014-2025 (USD Million)
- Deep brain stimulator
- Spinal cord stimulator
- Vagus nerve stimulator
Brain Implants Market By Application, 2014-2025 (USD Million)
- Chronic pain
- Parkinson's disease
- Essential tremor
- Alzheimer's disease
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Boston Scientific Corporation
- LivaNova Plc
- Medtronic Plc
- NDI Medical PLC
- NeuroPace Inc.
- Synchron, Inc.
- Renishaw plc
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