WiseGuyReports.Com Publish a New Market Research Report On –“ Brain Implants 2019 Global Market Expected to Grow at CAGR 9.30% and Forecast to 2023”.
Brain Implants Market 2019
Brain implants are technical systems that are mainly used to directly or indirectly promote parts and structures of the nervous system with the aid of embedded electrical circuitry or record the electrical activity of nerve cells. The Global Brain Implants Market is predicted to register a CAGR of 9.30% to achieve USD 5261.08 Million till the year 2023. The increasing neurological disorders, the rising geriatric population who are vulnerable to neurological disorders, and technological advancements are projected to boost market growth. Though, the rigorous regulatory framework and high cost of these systems are expected to reduce the growth of the market.
The market is expected to witness a profitable growth owing to the rise in neurological disorders such as Parkinson’s, Alzheimer’s, epilepsy, depression, and important tremors that are cured with the help of brain implants. As per statistics by the World Health Organization (WHO) in 2017, around 50 million people all over the world were affected by epilepsy. Alzheimer’s Research UK indicated that over 46.8 million people worldwide were diagnosed with dementia in the year 2015, and this was expected to escalate to 50 million patients in 2017. Furthermore, this number was estimated to double every 20 years, reaching 75 million by the year 2030 and 131.5 million by 2050. Alzheimer’s Disease International reported the total worldwide cost of dementia to be USD 818 billion in the year 2015, which indicates 1.09% of the global GDP, and the cost is projected to rise to USD 1 trillion by the year 2018.Thus, a high prevalence of neurological disorders among the population and rising healthcare expenditure on dementia are driving the growth of the global brain implants market.
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The projected onlookers in the the global brain implants market are Pharmaceutical companies, Contract research manufacturing organizations, Research & development organizations and Academic institutes. Boston Scientific Corporation (US), Abbott (US), LivaNova PLC (UK), Beijing PINS Medical Co. Ltd (China), Nevro Corporation (US), and Functional Neuromodulation Ltd (US), Medtronic (US), Synchron Inc. (US), NeuroPace Inc. (US), Nuvectra Corporation (US) are some of the prominent players in the global brain implants market.
This report mentions various factors that are causative of fast-paced expansion of the Brain Implants market. This includes a detailed study of the pricing history of the product/service, the value of the product/service, and numerous volume trends. Some principal factors studied in the report include the influence of mounting population on a global level, burgeoning technological advancements, and the dynamics of demand and supply noted in the Brain Implants market. Additionally, it also studies the impact of various government initiatives and the competitive landscape existing in the Brain Implants market through the forecast period.
The report includes segmentation of the Brain Implants market on the basis of different aspects, along with a regional segmentation. Such segmentation has been carried out with the perspective of attaining detailed and accurate insights into the Brain Implants market. The report studies the regional segments of Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa.
The market research team has analyzed the global Brain Implants market by adopting Porter’s Five Force Model for the assessment period of 2019-2024. Furthermore, an in-depth SWOT analysis is carried out to enable faster decision making of the reader about the Brain Implants market.
Table Of Contents – Major Key Points
- Report Prologue
- Research Methodology
- Market Dynamics
- Market Factor Analysis
- Global Brain Implants Market, by Type
- Global Brain Implants Market, by Application
- Global Brain Implants Market, by End-User
- Global Brain Implants Market, by Region
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