Brain Implants Market Share, Size, Analysis and Forecast 2032

Brain Implants Industry Prospective:

The global Brain Implants market size accrued earnings worth approximately USD 4.70 Billion in 2023 and is predicted to gain revenue of about USD 10.77 Billion by 2032, is set to record a CAGR of nearly 9.64% over the period from 2024 to 2032.

The study includes the drivers and restraints of the brain implants market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the brain implants market on a global level.

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Brain Implants Market: Overview

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.

In order to give the users of this report a comprehensive view of the brain implants market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

Brain Implants Market: Segmentation

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.

Brain Implants Market: Report Scope

Brain Implants Market: Regional Analysis

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.

Brain Implants Market: Competitive Analysis

The global brain implants market is led by players like:

• St. Jude Medical
• NDI Medical
• Aleva Neurotherapeutics
• Boston Scientific Corporation
• Nevro Corporation
• Medtronic
• NeuroPace
• Sapiens Neuro
• Terumo Corporation
• Medtronic
• Edwards Lifesciences
• Abiomed
• Cochlear Limited

This report segments the global brain implants market as follows:

Global Brain Implants Market: Product Analysis

• Deep Brain Stimulator
• Spinal Cord Stimulator
• Vagus Nerve Stimulator

Global Brain Implants Market: Application Analysis

• Chronic Pain
• Epilepsy
• Parkinson’s Disease
• Depression
• Essential Tremor
• Alzheimer’s Disease

 Global Brain Implants Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa