The Brain Implants Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Brain Implants Global Market Report 2024, The brain implants market size has grown rapidly in recent years. It will grow from $5.58 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to increased prevalence of neurological disorders, rising aging population, advancements in surgical techniques, expanding applications in research, awareness and acceptance..
The brain implants market size is expected to see rapidly grown in the next few years. It will grow to $8.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to innovations in material science, emerging therapeutic applications, increasing investment in research and development, rising healthcare expenditure, collaborations and partnerships.. Major trends in the forecast period include research focus on brain-machine interfaces (bmis), enhanced biocompatibility of implant materials, exploration of ethical and regulatory frameworks, emergence of consumer-grade brain-computer interfaces (bcis), collaborations between academic and industry players..
The rise in the prevalence of neurological diseases is expected to propel the growth of the brain implant market going forward. Neurological diseases are a broad category of medical conditions that affect the nervous system, which includes the brain, spinal cord, and peripheral nerves. Brain implants offer a level of customization and control that traditional medications often cannot achieve, allowing for the modulation of neural activity and the reduction of symptoms, ultimately enhancing the well-being and functionality of patients. For Instance, in February 2023, according to the World Health Organization (WHO), a US-based intergovernmental organization, epilepsy, a neurological disease, affects 5 million people globally yearly, with high-income countries seeing 49 per 100,000 cases, while low- and middle-income countries see up to 139 per 100,000. Therefore, the rise in the prevalence of neurological diseases is driving the growth of the brain implant market.
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The brain implants market covered in this report is segmented –
1) By Product: Deep Brain Stimulator, Spinal Cord Stimulator, Vagus Nerve Stimulator
2) By Application: Chronic Pain, Epilepsy, Parkinson’s Disease, Depression, Essential Tremor, Alzheimer’s Disease
3) By End User: Hospitals, Neurology Clinics, Other End-Users
Major companies operating in the brain implants market are focusing on developing technologically advanced brain implants with innovative therapies such as Vagus Nerve Stimulation (VNS) Therapy to drive revenues in the market. Vagus Nerve Stimulation (VNS) Therapy is a safe and effective treatment for drug-resistant epilepsy in adults and children, preventing and stopping seizures. For instance, in February 2023, LivaNova PLC, a UK-based medical device company, launched SenTiva DUO, an implantable pulse generator with a dual-pin header, to provide VNS therapy for drug-resistant epilepsy. This new device allows patients who were pioneers of VNS therapy and had a dual-pin lead and IPG implanted with the original SenTiva to receive the latest technology without needing lead revision. SenTiva DUO offers customized therapy, optimal seizure control, and maximum adherence to treatment. Both devices provide stimulation in response to rapid heart rate increases, allow day-night programming scheduled programming, and log low heart rate and prone position events.
The brain implants market report table of contents includes:
1. Executive Summary
2.Brain Implants Market Characteristics
3.Brain Implants Market Trends And Strategies
4.Brain Implants Market analysis
5.Brain Implants Market Size And Growth
6.Brain Implants Segmentation
7.Brain Implants Regional And Country Analysis
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27. Brain ImplantsCompetitive Landscape And Company Profiles
28.Brain Implants Key Mergers And Acquisitions
29.Brain Implants Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Abbott Laboratories
- Medtronic Plc.
- GE HealthCare Technologies Inc.
- Boston Scientific Corporation
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