The report “Global Brain Implants Market, By Product Type (Deep Brain Stimulator, Spinal Cord Stimulator, and Others), By Application (Chronic Pain, Epilepsy, Parkinson’s Disease, and Others), and Region – Global Forecast to 2029″ Global brain implants market is projected to grow from US$ 4.7 billion in 2020 to US$ 13.3 billion by 2029. Factor driving the growth of the global brain implants market is increase in number of neurological disorders including Parkinson’s and Alzheimer’s diseases, depression, epilepsy, and essential tremor among all age groups across the globe. Also, rising investment from the government authorities and various healthcare organizations in emerging countries to improve overall healthcare infrastructure is propelling the target market growth. Furthermore, increasing awareness along with reduction in the cost of manufacturing of brain implants by new developments are some opportunities for the players to increase target market. Moreover, factors like technological advancements in brain implants, along with rising disposable income in developed and developing countries, are boosting the growth of the target market.
In 2016, Aleva Neurotherapeutics and Greatbatch, Inc. for Deep Brain Stimulation collaborated on Next Generation Device.
Key Market Insights from the report:
The global brain implants market accounted for US$ 4.7 billion in 2020 and is projected to register a moderate CAGR of 12.4 % over the forecast period. The market report can be segmented on the basis of product type, application, and region.
By product type, the global brain implants market is segmented into deep brain stimulator, spinal cord stimulator and vagus nerve stimulators. The deep brain stimulator segment is anticipated to have largest market over the forecast period, owning to increase in the incidences of Parkinson’s disease and the potential benefits of brain implants like long-term efficacy and better management of post-operative outcomes. The vagus nerve stimulators segment is expected to register the fastest growth in terms of revenue in the upcoming years, due to rise in incidences of epilepsy.
By application, the global brain implants market is categorized into chronic pain, epilepsy, Parkinson’s disease, and others. The Parkinson’s disease segment is expected to have fastest growth rate in terms of revenue over the forecast period due to factors including drop in smoking rate and coffee consumption, especially in developed countries.
By region, the market in North America is dominating the global brain implants market in terms of revenue and is expected to continue its dominance in the upcoming years. Due to increase in number of several neurological disorders such as Parkinson’s disease, epilepsy, Alzheimer’s disease, and others, increase in market in terms of revenue revenue in this region is anticipated to increase during the forecast period.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on ” Global Brain Implants Market, By Product Type (Deep Brain Stimulator, Spinal Cord Stimulator, and Others), By Application (Chronic Pain, Epilepsy, Parkinson’s Disease, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029
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The prominent player operating in the global brain implants market includes Abbott Laboratories, Boston Scientific Corporation, Medtronic, Plc., Nevro Corp., Neurotherapeutics SA, Terumo Corporation, Aleva LivaNova, PLC, NDI Medical, LLC, NeuroPace, Inc., and Synchron, Inc.
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