Brain Implants Market Synopsis:
The Global “Brain Implants Market” stood at USD USD 1.88 Bn in 2017 and expected to reach USD 3.24 Bn by the end of 2023. The global brain implants market is expected to expand at a CAGR of 9.53% over the forecast period of 2018-2023, reveals Market Research Future (MRFR) in a detailed study.
Brain implants, also called neural implants, are medical devices that are placed intracranially by surgical means to predict brain activity patterns or to stimulate activity in the brain.
Widespread prevalence of neurological disorders across the globe has been the main drive behind the growth of the global brain implants market.
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The global burden of neurological disorders such as Alzheimer’s disease, Parkinson’s disease, cerebral palsy, epilepsy, brain tumor, dystonia and traumatic brain injury generates massive demand for brain implants.
Brain Implants Market Competitive Landscape:
Top notable players in the global brain implants market are,
- Thermo Fisher Scientific Inc.
- bioMérieux SA
- FOCUS Laboratories Inc.
- Gibraltar Laboratories
- Rapid Micro Biosystems Inc.
- Dickinson and Company
- Eurofins Scientific
- Sartorius AG
- Becton
- Merck KGaA
- and Charles River
Brain Implants Market Segmentation:
The global brain implants market has been segmented based on product, application, and end users.
By product, the global brain implants market has been segmented into deep brain stimulator, spinal cord stimulator, and vagus nerve stimulator. Product-wise, the spinal cord stimulator segment is the largest segment, while the deep brain stimulator segment is projected to be the fastest growing segment.
By application, the global brain implants market has been segmented into chronic pain, epilepsy, Parkinson’s disease, depression, essential tremor, and Alzheimer’s disease. Application-wise, the Parkinson’s disease segment accounts for the largest share of the market while the depression segment is poised to be the fastest growing segment.
By end-users, the global brain implants market has been segmented into hospitals, clinics, and ambulatory services. Clinics segment dominates the market while the hospitals segment is expected to grow at the fastest rate.
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Brain Implants Market Regional Analysis:
The Americas, Europe, Asia Pacific, and the Middle East & Africa are the key markets for brain implants. The Americas is a significant growth pocket for the global brain implants market. High prevalence of neurological disorders in the region and the high adoption rate of advanced medical technologies can be considered to be the major contributors to the growth of the Americas market. In addition, the region is home to various manufacturers. High disposable income of the population is also a crucial factor in the adoption of brain implants in the region, which cannot be ignored.
The Europe brain implants market is driven by significant investments in R&D activities and high healthcare expenditure.
Asia Pacific is an emerging market for brain implants and is expected to showcase tremendous progress over the forecast period. The rise in disposable income raises affordability, which boosts the demand for brain implants. The improving reimbursement scenario and growing prevalence of neurological diseases also support the growth of the APAC market.
The Middle East & Africa market is expected to account for the smallest share in the Global Brain Implants Market. Low awareness regarding such diseases and low healthcare expenditure in the region restricts the growth of the market. The Africa region, in particular, is likely to exhibit sluggish growth, since neurological services and resources are disproportionately scarce in the region.
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LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Global Brain Implants Market
Figure 3 Segmentation Market Dynamics For Global Brain Implants Market
Figure 4 Global Brain Implants Market Share, By Product, 2018
Figure 5 Global Brain Implants Market Share, By Application, 2018
Figure 6 Global Brain Implants Market Share, By End-Users, 2018
Figure 7 Global Brain Implants Market Share, By Region, 2018
Figure 8 North America: Brain Implants Market Share, By Country, 2018
…to be continued.
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