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Brain Implants Market Growth, 2028 | Industry Trends Report

Brain Implants Market Analysis Report By Product, By Application, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17617005  |  Published: August 2021  |  No of Pages: 120
Format: Electronic (PDF)  |  Industry: Medical Devices  |  Publisher: Grand View Research

Synopsis

The global brain implants market was prized by USD 4.6 billion in 2020. It is estimated to witness a 9.1% CAGR from 2021 to 2028.

Drivers

The rising frequency of neurological circumstances like epilepsy, Parkinson's disease, and Alzheimer's, together with growing alertness about the benefits of brain implants plus the constructive results of the research are between the most important factors, propelling the enlargement of the general market for brain implants.

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The rising commonness of neurological complaints is an extremely influential factor for the expansion of the market. These implants perform an essential function in offering a curative way out for depression. Therefore, growth in the occurrence of these types of sicknesses is anticipated to impel the enlargement of the market for these implants throughout the forecast period.

The rising global elderly populace along with the rise in frequency of target sickness, particularly Alzheimer’s, Parkinson’s, and epilepsy, in addition to greater unmet medicinal requirements, has augmented the demand for brain implants. Elderly people are extremely prone to Parkinson’s disease; this is estimated to be an important issue, pushing the market for these implants.

Effect of Covid-19

In 2020, the imposed limitations and lockdown, for avoiding the increase of Covid-19, had a large influence on equally the patients who have planned surgical treatment as well as the persons, who previously undergone the Deep Brain Stimulator (DBS) surgical procedure.

Brain implant surgical treatment like Deep Brain Stimulator (DBS) is an optional surgical process in a number of institutions, owing to which the planned surgical procedures have been kept suspended.

The patients were recommended to carry on their most recent optimized dose routine and surgical procedures were executed, at what time the limitations were taken back. Consequently, the eruption of Covid-19 has caused low down order for brain implants, as a result limiting the expansion of the market.

Product Insight

Due to its usage in a variety of functions in neurological complaints, the deep brain stimulators section held the biggest, 37.0% revenue share and led the brain implants market, in 2020. The rising implementation of deep brain stimulators for the healing of a variety of neurological complaints, which consists of Alzheimer’s disease, essential tremor, Parkinson’s diseases, epilepsy, dystonia, and obsessive-compulsive disorder, is an important driver for the expansion of this section. Besides, rising alertness concerning the treatment for neurological movement disorder between the patients is likely to activate the expansion of this section.

On the other hand, the vagus nerve stimulator section is estimated to develop by a maximum of 9.5% CAGR, during the forecast period, because of the use in the curing of a variety of sicknesses for example obesity, fibromyalgia, anxiety, tinnitus, and migraines.

Mostly, it is utilized to supply electrical pulsation to the vagus nerve. Additionally, the presentation of the product which is having sophisticated technology is increasing the excellence of the treatment. Moreover, this is expected to encourage the expansion of the market.

Application Insight

In 2020, the chronic pain section held the biggest, 58.8% revenue share and led the brain implants market. The rise in the frequency of chronic aches has produced a clinical necessity for including long-standing solutions.

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Mostly, the stimulators are utilized in the cases, whilst constant back or neck tenderness has not been comforted, in spite of the surgical procedure or any additional actions. By way of rising chronic ache, because of the circumstances like neuropathy, cervical as well as lumbar radiculitis, and unsuccessful back surgical procedure, the demand for stimulators is increasing. Sequentially, this is expected to accelerate the enlargement of the brain implants market.

On the other hand, due to the rising figure of elderly people who are tending to the circumstances like Alzheimer’s and Parkinson’s diseases, the Parkinson’s disease section is anticipated to observe a maximum of 10.1% CAGR, during the forecast period.

Consistent with the UN Department of Economic and Social Affairs, 7.7 billion, is the global populace, at present. This is projected to enlarge to 9.7 billion by 2050, therefore sustaining the expansion of the section, for the period of the forecast.

Regional Insight

In 2020, North America held the biggest, 42.9% revenue share and led the global brain implants market. This domination can be accredited to the factors like the existence of entrenched healthcare amenities, a growth in alertness regarding the treatments, availability of highly experienced medical doctors, and an augmentation in the occurrence of neurological complaints.

The rise in financial support by the government and plans, intended for increasing attentiveness regarding the movement disorders are likely to, furthermore, push the demand for deep brain stimulation devices, within the region. For example, Parkinson’s Foundation spent USD 3.5 million to provide finance for the above 34 research projects, meant for Parkinson’s disease. These things are anticipated to increase the regional demand for brain implants.

Due to a variety of factors like the increasing figure of alertness programs, the growing commonness of neurodegenerative in addition to psychiatric complaints, together with the unmet necessity for long-term as well as an efficient solution for the treatment, and increasing affordability, Asia Pacific is anticipated to extensively conduct the brain implants market, during the forecast period. Rising programs taken on by the neurology clinics as well as the neurosurgeons, regarding the brain implants, are estimated to offer large openings for the enlargement of the market, within the region. Greater spending for R&D activities, by the international companies due to their economical organization, is the important driver for the expansion of the market, within the region.

Companies

The companies operating in the market for these implants are having their concentration on developing technically sophisticated as well as price-effective brain implants. The leading companies are busy in wide-ranging research activities, intended for the growth of superior technology, designed for the brain implant. Consequently, the launching of the latest products is estimated to offer this market, the rewarding enlargement opening.

Some of the companies for brain implants market are:

    • Synapse Biomedical Inc.
    • NeuroPace, Inc.
    • Boston Scientific Corporation
    • Aleva Neurotherapeutics SA
    • Nevro Corporation
    • St. Jude Medical (Abbott)
    • Medtronic

Report Scope

Report Attribute

Details

The market size value in 2021

USD 4.9 Billion

The revenue forecast in 2028

USD 9.2 Billion

Growth Rate

CAGR of 9.1% from 2021 to 2028

The base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Colombia; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Medtronic; St. Jude Medical (Abbott); Boston Scientific Corporation; NeuroPace, Inc. Synapse Biomedical Inc., Aleva Neurotherapeutics SA; Nevro Corporation

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs. 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global brain implants market report on the basis of product, application, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)
    • Deep Brain Stimulator
    • Spinal Cord Stimulator
    • Vagus Nerve Stimulator

• Application Outlook (Revenue, USD Million, 2016 - 2028)
    • Chronic Pain
    • Epilepsy
    • Parkinson’s Disease
    • Depression
    • Essential Tremor
    • Alzheimer’s Disease

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
    • the Asia Pacific
        • Japan
        • China
        • India
        • Australia
        • South Korea
    • Latin America
        • Brazil
        • Mexico
        • Argentina
        • Colombia
    • Middle East and Africa (MEA)
        • South Africa
        • Saudi Arabia
        • UAE

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