Market Research Future (MRFR) has recently published a report that highlights that the global brain implants market is projected to exhibit expansion at a CAGR of 9.53% across the assessment period 2018 to 2023. The study further unfolds that the valuation of the market is prognosticated to reach USD 3.24 Bn by 2023 up from USD 1.88 Bn in 2017.
Increasing prevalence of neurological diseases such as cerebral palsy, epilepsy, Parkinson’s disease, brain tumor, Alzheimer’s disease, dystonia, etc. is expected to intensify the demand for brain implants in the years to come.
Increasing population of older adults is expected to increase the demand for manifolds over the next couple of years. Older people are more prone to developing neurological diseases and form a major fraction of the patient population. It is projected to accelerate revenue creation for the market players over the next few years.
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Road accidents cause millions of deaths and causalities every year. It has led to an increase in brain injuries, which is further anticipated to generate demand for brain implants over the next few years. Rising cases of head injuries are projected to facilitate revenue growth of the global brain implants market in the nearby future. Also, the rising investments in research & development ensure a lucrative future trajectory for the brain implants market in the upcoming years. Technological innovations are also anticipated to play a significant role in the development of the market over the next couple of years.
The different segments based on product covered in this report on the global brain implants market are deep brain stimulator, spinal cord stimulator, and others.
Application-based segments of the brain implants market are epilepsy, chronic pain, Parkinson’s Disease, essential tremor, depression, and others.
On the basis of end-user, the global brain implants market has been segmented into clinics, hospitals, and others.
Few of the eminent players of the global brain implants market profiled in this MRFR report are Becton, Dickinson and Company, Sartorius AG, Charles River, FOCUS Laboratories, Inc., Rapid Micro Biosystems, Inc., Merck KGaA, Eurofins Scientific, Thermo Fisher Scientific Inc., bioMérieux SA, and Gibraltar Laboratories.
Increasing investments in research & development are anticipated to boost the competitive scenario of the brain implants market in the forthcoming years. Efforts are being directed towards the development of effective implants for staying ahead of the curve. In addition, market participants are going for strategies such as mergers & acquisitions, partnerships, collaborations, etc. for marking their presence in the competitive scenario. This, in turn, is expected to encourage favorable pricing policies, which are likely to make the market more lucrative in the years to come. In addition, market players are also projected to leverage technological advancements for gaining an edge over is competitors in the foreseeable future. It is anticipated to provide impetus to market growth in the forthcoming years.
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The global brain implants market, on the basis of region, has been segmented into Europe, Americas, the Middle East & Africa (MEA), and Asia Pacific. Americas is expected to hold a prominent share of the global market in the years to come. Factors such as developed healthcare infrastructure and early adoption of technologies are prognosticated to impact the growth pattern of the market favorably in the foreseeable future. In addition, a considerable fraction of the key players is based out of the region, which is projected to accelerate revenue generation in the regional brain implants market in the nearby future. Asia Pacific is also projected to exhibit remarkable growth on account of the developments being observed in the healthcare industry.
TABLE OF CONTENTS:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
…To be Continued.
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