Brain Implants Market Trend, Share, Growth, Size Analysis and Forecast 2032

Table Of Content

Methodology

Free Analysis

The brain implants or neural implants can be attached to any part of the brain, either on the cortex or to the surface, i.e., on sulci and gyri. Brain implants are also known as neural prosthetics or implants. These are considered a class of medical devices that interconnect with the body’s nervous system. High burden of diseases and growing mortality rates have created a clinical urgency that has induced the need to incorporate long-term solutions like brain implants. These devices play a vital role in providing therapeutic solutions for various chronic diseases like depression.

Growing cases of Parkinson’s disease and the ambiguity of economic conditions in some developed economies like the U.S. and European countries have forced the original equipment manufacturers to develop cost-effective devices for Parkinson’s disease treatment. This is the primary factor driving the global brain implants market Additionally, the preference given by professionals to brain implants over drug therapies is also boosting the brain implants market globally. The prevalence of obesity-induced depression, anxiety, and stress across the globe is constantly rising. As per the National Institute of Mental Health (NIHM), in 2012, around 15 to 16 million adults in the U.S. went through major depressive episodes. Additionally, as per the WHO, more than 300 million adults globally suffer from depression. However, the risk of infections and high cost of these devices are hindering the market growth.

The global brain implants market is segmented on the basis of product and application. On the basis of product, the market includes into vagus nerve stimulator, spinal cord stimulator, and deep brain stimulator. The application segment is divided into epilepsy, chronic pain, Parkinson’s disease, essential tremor, depression, and Alzheimer’s disease.

North America dominated the brain implants market in 2018, owing to the high standards of quality maintained by the medical device manufactures, growing aging population, increasing burden of Parkinson’s disease, rising demand for advanced devices, and increasing disposable income of the regional population. Europe is the second vital brain implants market, owing to the growing investments made by major market players for R&D and various innovations witnessed in medical technology. The Asia Pacific region is anticipated to be a lucrative region in the future, owing to high prevalence of Alzheimer’s in China. Other countries like India, Thailand, Singapore, and Taiwan have proven to be foremost medical tourism locations due to low cost of surgery and the presence of highly efficient healthcare professionals.

Some leading players of the global brain implants market include St. Jude Medical, NDI Medical, Aleva Neurotherapeutics, Boston Scientific Corporation, Nevro Corporation, Medtronic, NeuroPace, Sapiens Neuro, Terumo Corporation, Medtronic, Edwards Lifesciences, Abiomed, and Cochlear Limited.