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We expect the global brain implants market to exhibit a CAGR of 9.8% during 2022-2027.
The high prevalence of neurological diseases, along with the increasing utilization of brain implants to rehabilitate the patient’s body after an injury and communicate with prosthetic limbs, is primarily driving the global brain implants market.
The sudden outbreak of the COVID-19 pandemic had led to postponement of elective treatment of dystonia, tinnitus, epilepsy, etc., to reduce the risk of the coronavirus infection upon hospital visits and interaction with medical equipment, thereby limiting the demand for brain implants.
Based on the product, the global brain implants market has been segmented into deep brain stimulators, spinal cord stimulators, and vagus nerve stimulators. Currently, deep brain stimulators hold the majority of the total market share.
Based on the application, the global brain implants market can be divided into chronic pain, epilepsy, Parkinson’s disease, depression, essential tremor, and Alzheimer’s disease. Among these, chronic pain exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global brain implants market include Abbott Laboratories, Aleva Neurotherapeutics SA, Boston Scientific Corporation, Cochlear Ltd., Edwards Lifesciences Corporation, Medtronic, Ndi Medical LLC, NeuroPace Inc., Nevro Corp., Synapse Biomedical Inc, and Synchron Inc.
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