Brain Implants Market: Asia Pacific Is Expected To Significantly Lead The Market In The Future From 2021 To 2028

 Brain Implants Industry Overview

The global brain implants market size is anticipated to reach USD 9.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.1% from 2021 to 2028. The rise in neurological disorders such as epilepsy, Parkinson’s disease, depression, and tremors as well as growing investments in R&D to develop cost-effective brain implants is attributing to the growth of the market.

 

The presence of a large population base suffering from various neurological and physiological disorders and conditions is expected to boost the demand for implants during the forecast period. For instance, as per the Parkinson’s Foundation 2016 report, over 10 million people globally are living with Parkinson’s disease (PD). Thus, the increasing cases of PD are expected to drive the market. However, the outbreak of the COVID-19 pandemic is restricting the growth of the market. For instance, as per the Neuromodulation Society of the U.K. and Ireland, in the U.K. all the NHS hospitals were instructed to suspend all the non-urgent elective surgeries due to the pandemic from 15th April in 2020 for at least three months.

 

In addition, technological advancements such as self-charging implants and memory chips are anticipated to provide the market with growth opportunities over the forecast period. For instance, in January 2020, Abbott’s Infinity DBS received an extended indication approval from the U.S. FDA for PD treatment.

 

Brain Implants Market Segmentation

Grand View Research has segmented the global brain implants market on the basis of product, application, and region:

Based on the Product Insights, the market is segmented into Deep Brain Stimulator, Spinal Cord Stimulator, and Vagus Nerve Stimulator.

  • The deep brain stimulators segment dominated the market for brain implants and accounted for the largest revenue share of 37.0% in 2020, owing to its use in various applications in neurological disorders. The growing adoption of DBS for the treatment of various neurological disorders including obsessive-compulsive disorder, Parkinson’s diseases, dystonia, essential tremor, epilepsy, and Alzheimer’s disease is a key growth driver of this segment.

 

  • The vagus nerve stimulator segment is expected to grow at the highest compound annual growth rate (CAGR) of 9.5% from 2021 to 2028, owing to applications in the treatment of various disorders such as anxiety, migraines, fibromyalgia, tinnitus, and obesity. It is mainly used to deliver electrical impulses to the vagus nerve. In addition, product launches with advanced technology are enhancing the quality of therapy. For instance, in 2017 Neuro Science company launched the first non-invasive vagus nerve stimulation therapy product called GammaCore. This is also likely to bolster market growth.

 

Based on the Application Insights, the market is segmented into Chronic Pain, Epilepsy, Parkinson’s disease, Depression, Essential Tremor, and Alzheimer’s disease.

  • The chronic pain segment dominated the market for brain implants and accounted for the largest revenue share of 58.8% in 2020. An increase in the incidence of chronic pain has created clinical urgency for incorporating long-term solutions.

 

  • The Parkinson’s disease segment is expected to witness the highest CAGR of 10.1% from 2021 to 2028 owing to the increasing number of the geriatric population who are prone to conditions such as Parkinson’s and Alzheimer’s diseases.

 

Brain Implants Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

Developing cost-efficient and technologically advanced brain implants is the key focus of the companies operating in this market. Market leaders are involved in extensive research for the development of advanced brain implant technologies. Subsequently, the introduction of new products is expected to provide this market with lucrative growth opportunities. For instance, Abbott secured the U.S. FDA approval in September 2019 for its Proclaim XR recharge-free SCS system for chronic pain management. This system operates by utilizing low doses of electrical pulses that help extend the system's battery life for up to ten years.

Moreover, emerging players such as NeuroPace, Inc. and Synapse Biomedical Inc., are considered innovators for the market. Products offered by these competitors have a good price-performance proposition, competitive functionality, and are technologically advanced. These emerging companies are continuously investing in research and development activities as well as product commercialization events. For instance, in October 2017, NeuroPace, Inc. closed a USD 74 million funding round initiated by OrbiMed Advisors and KCK Groups. The funding will support the company’s ongoing efforts for rapid expansion and commercialization of its FDA-approved DBS product, the NeuroPace RNS system. Some of the prominent players in the brain implants market include:

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

 

Order a free sample PDF of the Brain Implants Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

Comments

Post a Comment

Popular posts from this blog

Drug Addiction - Pipeline Review, H1 2017 Market Overview and trends research report

Radiant insights, inc latest Pharmaceutical and Healthcare disease pipeline guide Drug Addiction - Pipeline Review, H1 2017, provides an overview of the Drug Addiction (Central Nervous System) pipeline landscape. Drug addiction, also called substance dependence or chemical dependency, is a disease that is characterized by a destructive pattern of drug abuse that leads to significant problems involving tolerance to or withdrawal from the substance. Drug addiction symptoms or behaviors include recurrent drug use that results in a lack of meeting important obligations at work, school, or home, inability to sleep, awake at unusual times, unusual laziness, loss of or increased in appetite, changes in eating habits, cold, sweaty palms; shaking hands., red, watery eyes; pupils larger or smaller than usual and unusual smells on breath, body or clothes. Report Highlights Radiant insights, inc Pharmaceutical and Healthcare latest pipeline guide Drug Addiction - Pipeline Review, H1 2017, p...
Read more

All Countries Dialyzer Industry 2013-2028 - Market Size, Share, Outlook, Growth, Key Players and Forecast

The global Dialyzer market was valued at $XX million in 2018, and Radiant Insights, Inc analysts predict the global market size will reach $XX million by the end of 2028, growing at a CAGR of XX% between 2018 and 2028. This report provides detailed historical analysis of global market for Dialyzer from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Dialyzer market. Download Free Sample Report @ https://www.radiantinsights.com/research/2013-2028-report-on-global-dialyzer-market/request-sample Leading players of Dialyzer including: • Fresenius Medical Care • Baxter • Nipro • Asahi Kasei • Toray • B.Braun • Nikkiso • Medtronic • Kawasumi • Medica • Wego • Lengthen • Peony Medical • Chengdu OCI • Bain Medical Equipment Market split by Type, can be divided into: • Flat Type Dialyzer • Coil Tube Dialyzer • Ho...
Read more

Insights into the Medical Waste Disposal Category: A Comprehensive Procurement Intelligence Report

  Medical Waste Disposal Category Overview The medical waste disposal category is anticipated to grow at a CAGR of 6.0% from 2023 to 2030. Appropriate disposal of medical trash is the key challenge for healthcare providers across the globe. Rising awareness about the benefits of proper medical waste management for treatment, recycling, and disposal of medical trash has boosted the growth of the category. According to the World Health Organization Study Report 2022, countries with low income generate over 0.2 kg of medical trash per day per hospital bed, whereas countries with high income generate hazardous waste of up to 0.5 kg per hospital bed each day. Moreover, rising government initiatives and strict rules and regulations for waste management are also expected to drive the category. For instance, in December 2022, an MOU was signed between the Center for Health Environment Research and Development and Can Tho Central General Hospital under USAID’s Reducing Pollution Project. T...
Read more