The latest report by IMARC Group, titled “Brain Implants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global brain implants market is expected to exhibit a CAGR of 9.4% during the forecast period (2023-2028). Brain implants refer to technological devices that are used in numerous disease management and surgery. They are placed inside the human body to enable interaction with neurons. They are utilized in the deep brain stimulation (DBS) technique, which is widely adopted in the treatment of tinnitus, dystonia, epilepsy, Parkinson’s disease, obsessive-compulsive disorder (OCD), and neuropathic pain. Brain implants are also used to rehabilitate the body after an injury, communicate with prosthetic limbs, and enhance memory. In recent years, brain implants have gained momentum due to their wide employment in biomedical research to record the patterns of neural activity, discover novel medical procedures, understand brain functions, and enhance the effectiveness of existing drugs.
Global Brain Implants Market Trends:
One of the primary factors driving the market is the increasing geriatric population, along with the rising prevalence of corresponding age-related neurological diseases. Additionally, the increasing utilization of cost-effective and laser-based techniques are creating a positive market outlook. Other than this, the increasing number of individuals diagnosed with target diseases, such as Alzheimer’s, Parkinson’s disease, and epilepsy are positively influencing the market growth. Besides this, DBS technique stimulates dysfunctional parts of the brain, thus it is widely used to improve cognitive function among individuals diagnosed with Tourette’s syndrome and psychiatric disorders. In line with this, the extensive utilization of this product for the treatment of individuals suffering with paralysis is escalating the demand for these brain implants as they stimulate spinal cord, offer sensory feedback, and allow amputees to control the movement of legs, hands, and arms. Moreover, key players are introducing carbon nanotubes and conventional silicone implants in the brain to assist soldiers fight better under combat situations and enable athletes to focus on their sports. These factors are anticipated to provide a positive thrust on the market growth.
- Based on the product, the market has been divided into deep brain stimulators, spinal cord stimulators, and vagus nerve stimulators.
- On the basis of the application, the market has been segregated into chronic pain, epilepsy, Parkinson’s Disease, depression, essential tremor, and Alzheimer’s disease.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Abbott Laboratories, Aleva Neurotherapeutics SA, Boston Scientific Corporation, Medtronic plc, NeuroPace Inc., Nevro Corp. and Synchron.
|Base Year of the Analysis
||Product, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Abbott Laboratories, Aleva Neurotherapeutics SA, Boston Scientific Corporation, Medtronic plc, NeuroPace Inc., Nevro Corp. and Synchron
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