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The global brain implants market is expected to value at over US$ 3 Bn in 2019, and is expected to register a CAGR of 9.7%. The global brain implants market is segmented on the basis of product type, application, and region/country.
Global Brain Implants Market: IntroductionBrain implants are type of neural devices referred as neural implants. The brain implants are technological devices which are connected to the brain-generally attached to the cortex of the brain, or placed on the surface of the brain. The brain implants are primarily inserted into the brain to enhance physical movement, memory, and sensitivity. In addition, they are also used to gather brain responses while performing various activities.
Global Brain Implants Market: DynamicsMajor factor driving growth of the global market is high prevalence of neurological disorders such as Parkinsons and Alzheimers diseases, epilepsy, depression, and essential tremor among all age groups across the globe. In addition, rising support by government authorities and various healthcare organizations to improve overall healthcare infrastructure in emerging countries and increasing skilled healthcare professionals to provide the treatment are other key factors expected to fuel growth of the target market. Growing brain implant surgery treatment among geriatric population across the globe to treat neurological disorders and other age-related diseases and disorders is another factor expected to boost growth of the global brain implants market over the forecast period. In addition, rising awareness about the technologically advanced brain implant devices among individuals across the globe is another major factor expected to propel growth of the global market. Furthermore, increasing awareness among individuals about advanced and efficient brain implant devices and growing adoption of robot-assisted implantation across the globe are other factors expected to proliferate growth of the global brain implants market in the next 10 years. However, high initial and maintenance cost of brain implant devices and lack of awareness about brain implants among individuals in emerging countries of the globe are major factors expected to restraint growth of the global brain implants market.
Global Brain Implants Market Analysis, by Product TypeAmong the product type segments, the spinal cord stimulator segment is expected to hold major revenue share, and is expected to maintain its dominance over the forecast period. The spinal cord stimulator segment is expected to register CAGR of over 8.7% over the forecast period.
Global Brain Implants Market Analysis, by ApplicationAmong the application segments, the Parkinsons disease segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The Parkinsons disease segment is expected to register CAGR of over 10% in terms of revenue over the forecast period.
Global Brain Implants Market Analysis, by Region/CountryThe market in North America is expected to dominate in the global brain implants market and is expected to continue its dominance over the forecast period. Increasing prevalence of several neurological disorders such as Parkinsons disease, Alzheimers disease, epilepsy, and others in countries in this region. In 2018, according to US-based Alzheimers Association, a health organization in Alzheimers care, support and research reported that between 2000 and 2015, the deaths from Alzheimers Disease have increased 123%. In December 2018, the US House of Representatives passed Building Our Largest Dementia (BOLD) Infrastructure for Alzheimers Act (S. 2076/H.R. 4256), legislation, which will improve the countrys response to the growing Alzheimers public health threat. Rising neurological disorders and related diseases among geriatric population across the globe is expected to support revenue growth of the brain implants market in North America over the forecast period. According to the Federal Interagency Forum on Aging-Related Statistics (Forum) the percentage of population age 65 years and older will almost double in the US, and is projected to reach around 22.1% by 2050, from 14.9% in 2015. Increasing number of brain implant surgery procedures across the globe for treatment of several neurological disorders such as epilepsy, essential tremor, and Parkinsons is expected to boost revenue growth of the brain implants market in this region. According to the Medtronic plc -which is a Europe-based company engaged in manufacturing and sales of medical devices -in June 2018, approximately 150,000 Medtronic Activadevices were implanted for Parkinsons and other conditions. Increasing investment in research and development activities and rise in technological advancement in brain implants devices are expected to drive revenue growth of the Europe brain implants market over the forecast period. In 2016, according to European Parkinsons Disease Association (EPDA) -Europe-based non-political, non-religious, and non-profit making organization -financed projects for neurodegenerative diseases was approximately US$ 200 Mn. According to European Commission, which is an independent executive arm of the European Union, approximately 165 Million Europeans are living with a brain disorder. In addition, the European Commission has been supporting brain research through the 7th Framework programme (2007“2013), US$ 3,548 Mn was invested in 1.931 projects, and so far in the Horizon 2020 programme (2014“2020), another US$ 1,260 Mn has been allocated.
Global Brain Implants Market Segmentation:
Global Brain Implants Market Segmentation, by Product Type:
- Deep Brain Stimulator
- Spinal Cord Stimulator
- Vagus Nerve Stimulator
Global Brain Implants Market Segmentation, by Application:
- Chronic Pain
- Parkinsons Disease
- Essential Tremor
Global Brain Implants Market Segmentation, by Region/Country:
- North America
- Middle East & Africa
- South America
Key Market Players included in the report: Global Brain Implants Market
- Abbott Laboratories
- Boston Scientific Corporation
- Medtronic, Plc.
- Nevro Corp.
- Terumo Corporation
- Aleva Neurotherapeutics SA
- NDI Medical, LLC
- LivaNova, PLC
- NeuroPace, Inc.
- Synchron, Inc.
Key Insights Covered: Global Brain Implants Market1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Brain Implants industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Brain Implants industry. 3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Brain Implants industry. 4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Brain Implants industry. 5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Brain Implants industry.
Research Methodology: Global Brain Implants Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Chapter 1 Preface 1.1 Report Assumptions 1.2 Research Methodology 1.3 Abbreviations Chapter 2 Market Overview 2.1 Market Definition & Scope of the Report 2.1.1 Market Definition 2.1.2 Scope of the Report 2.2 Global Brain Implants Market Revenue (US$ Mn) and Growth Rate (%), 2013–2028 2.3 Market Analysis, by Product Type 2.3.1 Deep Brain Stimulator 2.3.2 Spinal Cord Stimulator 2.3.3 Vagus Nerve Stimulator 2.4 Market Analysis, by Application 2.4.1 Chronic Pain | read more...