Global Memory Implants Market: Overview
Memory implants are useful in controlling the voluntary actions of the brain in people who suffer from brain damage due to stroke, Alzheimer’s, and disruption of neural network. The memory implant market plays a key role in the overall neurological research industry. A number of researchers are working on developing remarkable memory implants that can perform various functions including pain management and controlling of heart beats, and controlling symptoms of Parkinson’s disease, sleep apnea, and various neurology diseases. Though, advanced technology in the healthcare industry might have succeeded in bringing down the mortality rate, there is still dearth of treatments and drugs to help eradicate neurological diseases associated with older population.
On the basis of technique, the market can be segmented into stereotactic implantation, electrophysiological mapping, and others. The global market for memory implants may be classified on the basis of procedure into microelectrode mapping, non-invasive, macro electrode, system-level, and simulation approach. Based on end users, the market can be divided into clinical research organization, healthcare service providers, and others.
The report presents a comprehensive overview of various factors contributing to the expansion of the global memory implants market. It also offers insights into challenges that the market could face over the forecast period. The prevailing trends in overall market operations are also studied in the report in detail.
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Global Memory Implants Market: Key Trends
The reason for the development and commercialization of the global memory implant market is the escalating geriatric population and increasing initiative in terms of neurological clinical trials Moreover, various applications of memory implants in orthopedic implants, breast implants, intraocular lens, dental implants, and cardiovascular implants are significantly adding value to the demand growth of the said market. On the other hand, memory implants could be used for controlling human behavior, thus many researchers are of the opinion that memory-enhancing devices can be misused, thereby limiting the market growth.
Based on technique, stereotactic implantation is a minimally-invasive form of intervention, which is used to locate the memory implants inside the body. This technology is mostly used for the treatment of Parkinson’s disease. Electrophysiological mapping is widely used to finalize the target selection for memory implants with the help of microelectrode or semi-microelectrode techniques.
Global Memory Implants Market: Regional Overview
Geographically, the global memory implants market can be segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. It is estimated that North America will account for a major share in the market due to a large patient pool suffering from Alzheimer’s. The number of people living with Parkinson’s disease is extremely high in European countries, thus the market for memory implants in this region is projected to receive a significant boost by 2025. Asia Pacific is another promising market for memory implants owing to the high geriatric population, especially in Japan.
Global Memory Implants Market: Key Players
The report profiles some of the prominent competitors operating in the market. It also provides insights into the threats and opportunities that the companies are expected to witness in the coming years. Some of the players in the global memory implants market are Bausch and Lomb Incorporated, Abbott Laboratories, Alcon Laboratories, Biomet Incorporated, and Boston Scientific Corporation.
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