The Global Brain Implant Market, According To Market Research Future Is Expected To Reach The Highest Market Size Of USD 5261.08 Million at a CAGR of 9.30% During The Forecast Period.
A brain implant is an electronic system that enables communication between the brain and electronic devices, through which brain activity is modified, recorded, and used in external tools such as a computer slider or a robot arm.
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The most important factors in the growth of the brain implant market include the increasing aging population, the occurrence of neurological disorders, and technological progress in devices. Increasing cases of neurological disorders, such as Alzheimer’s disease, epilepsy, Parkinson’s disease, depression, and essential tremors, should stimulate the demand for brain implants. Brain implants may reduce the need for drugs to relieve chronic pain and bring improvement in patients with neurological illnesses such as Parkinson’s disease. Brain implants for depression is one of minor application at present but would be a critical point of study in the future to understand the deficiency better. The growing geriatric population is also susceptible to more neurological disorders.
Global Brain Implant Market Key Players
The key players involved in the designing and manufacturing of brain implants includes,
Medtronic
Boston Scientific Corporation
Nevro Corporation
Functional Neuromodulation Ltd Abbott
LivaNova PLC
NeuroPace Inc.
Synchron Inc.
Beijing PINS Medical Co. Ltd
Nuvectra Corporation
and Others.
Industry Updates
- An electrode material developed as an alternative for brain implants has come out to be MRI compatible and with enhanced durability in contrast to metal implants. The study carried out by San Diego State University engineers, in association with researchers at Karlsruhe Institute of Technology (KIT), named Nature Microsystems & Nanoengineering, stated that about the promising improvement done in the procedure.
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Global Brain Implant Market Segmentation
The global market for brain implants is segmented by type into a spinal cord stimulator, a deep brain stimulator implants, and vagus nerve stimulator.
Based on the application: chronic pain, epilepsy, Parkinson’s disease, depression, essential tremor, and Alzheimer’s disease.
Based on the end-user: hospitals, clinics, and specialized centers.
List of Tables
TABLE 1 PRIMARY INTERVIEWS
TABLE 2 GLOBAL BRAIN IMPLANTS MARKET, BY TYPE 2015-2023 (USD MILLION)
TABLE 3 GLOBAL BRAIN IMPLANTS MARKET FOR SPINAL CORD STIMULATOR, BY REGION, 2015–2023 (USD MILLION)
TABLE 4 GLOBAL BRAIN IMPLANTS MARKET FOR DEEP BRAIN STIMULATOR, BY REGION, 2015–2023 (USD MILLION)
TABLE 5 GLOBAL BRAIN IMPLANTS MARKET FOR VAGUS NERVE STIMULATOR, BY REGION, 2015–2023 (USD MILLION)
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TABLE 6 GLOBAL BRAIN IMPLANTS MARKET, BY APPLICATION 2015-2023 (USD MILLION)
TABLE 7 GLOBAL BRAIN IMPLANTS MARKET FOR CHRONIC PAIN, BY REGION, 2015–2023 (USD MILLION) 36
…To be Continued.
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