The market for brain implants is expected to grow from its estimated $1.4 billion in 2022 to $4.5 billion in 2032, with a compound annual growth rate (CAGR) of 12.2% between 2023 and 2032.
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"The Global brain implants Market 2022-2032 (USD Billion)")
The global brain implants market is anticipated to grow at 9.2% CAGR during the forecast period. Increase in prevalence of neurological disorders such as Parkinson disease treatment, epilepsy, Alzheimer’s disease along with rapidly growing geriatric patient pool and rapid technological advancements are key factors driving the global brain implants market.
Brain implants, also known as neural implants, are devices that are connected directly to the cortex of the brain and are used to record, reflex, conceal, and boost patient's five senses. The need for brain implants has increased dramatically due to rise in prevalence of neurological disorders such as Parkinson's disease, Alzheimer diagnostic test, epilepsy, depression, and essential tremors. Moreover, the incidence of these diseases is on the rise as the population ages. Parkinson's disease is most commonly diagnosed in persons over the age of 60. According to CDC, it is expected to impact 1% to 4% of the population in the range of 60 to 80 years. All these factors are expected to boost the growth of brain implants market in the next few years. However, high cost of brain implants and procedures is anticipated to hinder the growth of the segment in the coming years.
The global brain implants market has been segmented based on product, application, and region. Based on product, the global brain implants market is categorized into spinal cord stimulators, deep brain stimulators, and vagus nerve stimulators. Deep brain stimulators segment held the largest share of global market in 2020. Application-wise, the global brain implants market is segmented into Parkinson’s disease, epilepsy, chronic pain, depression, Alzheimer’s disease, essential tremor. Chronic pain segment dominated the global brain implants market in 2020. Geographically, North America dominated the global brain implants market in 2020, however, Asia Pacific is expected to be the fastest growing region by 2028.
Key players operating in the global brain implants market include Medtronic, Nevro Corporation, Boston Scientific Corporation, Cochlear implant, Ltd., St. Jude Medical (Abbott), Neuropace Inc., Synapse Biomedical, Inc., Aleva NeuroTherapeutics, NDI Medical LLC, and Sapiens Neuro among others.
Brain Implants Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 4.5 billion |
| Growth Rate | CAGR of 12.2% during 2022-2032 |
| Segment Covered | Product, Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Medtronic, Nevro Corporation, Boston Scientific Corporation, Cochlear, Ltd., St. Jude Medical (Abbott), Neuropace Inc., Synapse Biomedical, Inc., Aleva NeuroTherapeutics, NDI Medical LLC, and Sapiens Neuro among others. |
Key Segments of the Global Brain Implants Market
Product Overview, (USD Million)
- Deep Brain Stimulators
- Spinal Cord Stimulators
- Vagus Nerve Stimulators
Application Overview, (USD Million)
- Epilepsy
- Chronic Pain
- Depression
- Essential Tremor
- Alzheimer’s Disease
- Parkinson’s Disease
Regional Overview, (USD Million)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Reasons for the study
- Increase in prevalence of neurological disorders
- Surging geriatric population across the globe
- Growing preference for minimally invasive neurological procedures
- Rapid technological advancements in neurology
What does the report include?
- The study on the global brain implants market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s Five Forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product, application, and region.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market
Who should buy this report?
- The report on the global brain implants market is suitable for all the players across the value chain including raw material suppliers, hospitals & clinics, medical device manufacturers, healthcare organizations, distributors, suppliers and technology geeks
- Venture capitalists and investors looking for more information on the future outlook of the global brain implants market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global brain implants market
Frequently Asked Questions (FAQ) :
The Global brain implants Market is Segmented on the basis of Product, Application, Regions.
The brain implants market is growing at a CAGR of 12.2 % during the forecast period
The base year for the report is 2023 in brain implants market
Neural implants, often known as brain implants, are medical devices that are implanted beneath the skull on the brain's surface. Implants utilize thin metal electrodes to listen to brain activity and, in some circumstances, to stimulate it. Surging elderly patient pool suffering from neurological disorders requiring surgeries and implants is expected to drive the global brain implants market. The introduction of sophisticated technology such as MRI-safe brain implants is boosting growth of the market. Furthermore, with the growing number of research activities leading to technical advancements, the market for brain implants is projected to have attractive growth prospects. Constant technological advancements in the brain implants, such as incorporation of artificial intelligence, motor neuron prostheses, Brain Computer Interfaces (BCIs), smart neural chips offer significant growth opportunities in the future.
The global brain implants market has been segmented based on type, material, origin, and region. Based on product, the global brain implants market is categorized into spinal cord stimulators, deep brain stimulators, and vagus nerve stimulators. Deep brain stimulators segment held the largest share of global market in 2020. Increase in adoption of deep brain stimulators o treat a variety of neurological illnesses, including as obsessive-compulsive disorder, Parkinson's disease, essential tremors, epilepsy, and Alzheimer's disease will drive the growth of the segment.
Application-wise, the global brain implants market is segmented into Parkinson’s disease, epilepsy, chronic pain, depression, Alzheimer’s disease, and essential tremor. Chronic pain segment grabbed majority of the market share in 2020. Chronic intractable pain, which affects 5% of the population, is debilitating for those who are affected. Rise in incidence of chronic pain along with wide adoption of electrical intracerebral stimulation or deep brain stimulation as an effective tool for the treatment of chronic pain is expected to drive this segment. .
The global brain implants market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global brain implants market in 2020, however Asia Pacific is expected to grow at a rapid pace through 2028.
.png "Global Brain implants Market Share by Region (2019)")
High prevalence of neurological disorders such as Parkinson’s disease, epilepsy, and Alzheimer’s disease along with presence of large geriatric patient pool in the U.S. and Canada are major factor expected to drive the growth of the market in the region. For instance, epilepsy affects 0.6% of the Canadian population, according to Epilepsy Canada. Also, approximately 15,500 people are diagnosed with epilepsy in the country which is anticipated to drive the growth of the segment in the coming years. Furthermore, favorable government initiatives for Parkinson’s disease coupled with strong foothold of key industry players are other major factors likely to boost the growth of the market in North America.
However, Asia Pacific is expected to grow at a rapid pace over the next few years. There is a strong growth potential in the emerging economies such as India, and China. The rapidly rising geriatric population in countries such as India and China, increase in burden of neurological ailments such as Parkinson’s disease, and epilepsy, along with high unmet clinical needs provide large market for brain implants.