Global Brain Implants Market by Product (Vagus Nerve Stimulator, Spinal Cord Stimulator, Deep Brain Stimulator), by Application (Parkinson’s Disease, Chronic Pain, Epilepsy) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global brain implants market was valued at USD4.6 billion in 2020. It is projected to grow at a compound annual rate of 9.1% between 2021 and 2028. The market is growing due to an increase in neurological conditions like Parkinson's disease, Alzheimers and epilepsy. There are also positive research results and increased awareness about brain implants.

Market drivers include the increasing incidence of neurological disorders. According to the WHO, neurological disorders account for 6.3% of the world's disease burden. They are also one of the leading causes of death worldwide. This is why there are 13.2% deaths in high-income countries, and 16.8% in lower- and middle income countries. There is a clinical need for long-term solutions like deep brain stimulators and spinal cord stimulators. Globally, obesity-induced depression and stress are on the rise. According to the National Institute of Mental Health, 16.2 million Americans experienced at least one major depression episode in 2016. Brain implants have been shown to be a key component in the provision of therapeutic solutions for depression. Market growth is expected to be driven by an increase in the incidence of these diseases during the forecast period.

The demand for brain implants has increased due to the increasing number of target diseases such as Parkinson's, epilepsy and Alzheimer's and the high unmet medical need. A growing population of older people is more susceptible to Parkinson's disease. Parkinson's disease is characterized by a lack of dopamine release in the brain. This can lead to stiffness, walking problems, and tremors. According to the CDC, Parkinson’s disease is most commonly diagnosed in those over 60 years old. It is expected that between 1.0% and 4.0% of the population will be affected by the disease by the age of 80. The WHO 2018 report estimates that the population in the 60-plus age bracket will reach around 2 billion people by 2050. This is an increase of 900 million from 2015. According to the WHO 2018 report, the population of the 60-plus age group is likely to increase to approximately 2 billion by 2050, from 900 million in 2015.

The market will be further driven by the introduction of advanced technologies like safety enabled brain implants by Medtronic, and the launch by Neurowave Medical Technologies of transdermal neuralmodulation technology. Technology such as motor neuron prostheses and microelectrode arrays as well as brain computer interfaces (BCIs), offer benefits like improved patient mobility. This advancement acts as a high-impact-rendering driver for the market. Smart neural chips, which improve wireless transmission of brain signals to fingers and hands with approximately 95% accuracy, are expected to increase the demand for brain implants in the forecast period.

The U.S., Canada and other countries have seen a high rate of movement disorders and psychiatric disorders. This has been accompanied by an increase in the geriatric population. The demand for brain implants will be driven by increased government funding and awareness campaigns about movement disorders. In 2020, the Parkinson's Foundation spent USD 3.5million to fund 34 research projects related to Parkinson's disease. Epilepsy Canada estimates that 0.6% of Canadians are affected by epilepsy. Around 15,500 people are diagnosed with epilepsy each year. According to the Canadian Psychological Association, about 2% of people suffer from obsessive compulsive disorder. These factors will likely increase the demand for brain implants within these countries.

The market for brain implants will also benefit from the growing number of technological breakthroughs that are being made possible by research. The market will benefit from self-charging memory chips and memory implants that are expected to offer growth opportunities. Andersen Lab, for example, has conducted research on cognitive signals in Post Parietal Cortex for decoding target positions for motions. Control of the device is possible by using signals from the cortex. These devices have potential benefits, including better postoperative outcomes and long-term efficacy. This will help to drive market growth. These factors will drive demand for brain implants.

Both patients who have already had DBS surgery as well as those who have been scheduled for it have felt the impact of the lockdown and restrictions. DBS, or brain implant surgery, is an elective procedure that can be performed in many hospitals. The restrictions were lifted and patients were advised to keep their current optimized dose regimen. Surgery was performed as soon as possible. The COVID-19 outbreak has slowed market growth by reducing demand for brain implants.

Product Insights

Deep brain stimulators dominated the market for brain implant sales and held the largest revenue share at 37.0% in 2020. This is due to their use in neurological disorders. This segment is seeing a significant growth driver because of the increasing use of DBS to treat various neurological disorders such as Parkinson's disease, obsessive-compulsive disorder and epilepsy. This segment is expected to grow due to increased awareness among patients about the treatment of neurological movement disorders.

The vagus nerve stimulator segment will grow at a compound annual growth rate of 9.5% between 2021 and 2028. This is due to its applications in treating various disorders like anxiety, migraines. It is used primarily to send electrical impulses to vagus nerve. The quality of therapy is also being improved by product launches that use advanced technology. GammaCore, a non-invasive vagus nerve stimulation therapy treatment product by NeuroScience was launched in 2017. This will likely also boost market growth.

Application Insights

In 2020, the market for brain implant sales was dominated by the chronic pain segment. It accounted for 58.8% of the total revenue. Chronic pain is on the rise, making it urgent to find long-term solutions. According to the National Health Interview Survey in 2016, chronic pain prevalence was approximately 20.4% among Americans (50 million), and 8.0% had high-impact chronic symptoms in the United States (19.6 millions). Stimulators can be used when chronic neck and back pain is not being relieved by surgery or other treatments. Stimulators are in high demand due to increasing chronic pain from conditions like lumbar and cervical radioculitis, failed back surgeries, and neuropathy. This will fuel the demand for brain implants.

The highest CAGR for the Parkinson's disease segment will be 10.1% between 2021 and 2028. This is due to an increasing number of geriatrics who are more susceptible to diseases such as Parkinson's or Alzheimer's. The UN Department of Economic and Social Affairs estimates that the current global population stands at 7.7 billion. This number is projected to rise to 9.7 billion by 2050. Thus, segment growth is supported during the forecast period.

Regional Insights

North America was the dominant market for brain implants in 2020, accounting for 42.9% of the total revenue. The dominance of North America can be attributed to factors like an increase in neurological disorders, increased awareness about treatments, well-established healthcare facilities, highly skilled doctors, and the availability of skilled physicians. The region will see a rise in government funding and awareness campaigns about movement disorders. In 2020, the Parkinson's Foundation spent USD 3.5million to finance 34 research projects related to Parkinson's disease. These factors will likely increase the demand for brain implantes in this region.

Asia Pacific will continue to lead the market from 2021-2028. This is due to several factors, including the increasing prevalence of neurodegenerative disorders and psychiatric disorders and the unmet need to find long-term, effective treatment options. There are also rising awareness programs and affordability. The region's brain implant market is expected to see significant growth due to the increasing awareness of brain implants by neurosurgeons, neurology clinics, and other medical professionals. The market is driven by high R&D investment by global market players due to its low-cost structure.

Market Share Insights & Key Companies

Companies in this sector are focused on developing cost-effective and technologically advanced brain implant technologies. Market leaders invest heavily in research to develop advanced brain implant technologies. This market will see lucrative growth opportunities as a result of the introduction and marketing of new products. Abbott, for example, received approval from the U.S. FDA in September 2019 for its Proclaim XR SCS system for chronic pain management. The system works by using low doses electrical pulses to extend the battery life of the system for up to ten year.

Synapse Biomedical Inc. and NeuroPace, Inc. are also emerging players that can be considered market innovators. These competitors offer products that are competitive in price and functionality as well as technologically advanced. These companies invest in both research and development as well as product marketing events. OrbiMed Advisors, KCK Groups, and NeuroPace, Inc. led a USD 74,5 million funding round in October 2017. This funding will be used to support the company's continued efforts to expand and commercialize its FDA-approved DBS product NeuroPace RNS, as well as its ongoing efforts to rapidly grow the company. The following are some of the most prominent players in brain implants market:

• Medtronic

• Boston Scientific Corporation

• St. Jude Medical (Abbott).

• NeuroPace, Inc.

• Nevro Corporation

• Synapse Biomedical, Inc.

• Aleva Neurotherapeutics SA

Up Market Research published a new report titled “Brain Implants Market research report which is segmented by Product (Vagus Nerve Stimulator, Spinal Cord Stimulator, Deep Brain Stimulator), by Application (Parkinson’s Disease, Chronic Pain, Epilepsy), By Players/Companies Aleva Neurotherapeutics SA, Nevro Corporation, St Jude Medical (Abbott), Boston Scientific Corporation, Synapse Biomedical Inc, Medtronic, NeuroPace Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Brain Implants Market Report Segments:

The market is segmented by Product (Vagus Nerve Stimulator, Spinal Cord Stimulator, Deep Brain Stimulator), by Application (Parkinson’s Disease, Chronic Pain, Epilepsy).

Brain Implants Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Brain Implants Market

Overview of the regional outlook of the Brain Implants Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Brain Implants Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Brain Implants Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Vagus Nerve Stimulator

                2. Spinal Cord Stimulator

                3. Deep Brain Stimulator

                1. Parkinson’s Disease

                2. Chronic Pain

                3. Epilepsy

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Brain Implants Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Brain Implants Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.