Brain Implants Market Expected to Rise at 9.8% CAGR during 2022-2027 | IMARC Group

PRESS RELEASE

Published March 28, 2023

IMARC Group has recently released a new research study titled “Brain Implants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global brain implants market is expected to exhibit a CAGR of 9.8% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Brain implants, also known as neural implants, are technological devices inserted into the human body to facilitate communication with neurons to stimulate senses, enhance memory, and improve physical function. They are commonly used in the deep brain stimulation (DBS) technique, to treat conditions such as neuropathic pain, Parkinson's disease, tinnitus, dystonia, epilepsy, and obsessive-compulsive disorder (OCD). Additionally, brain implants are utilized to aid in rehabilitating the body after injury, improve memory, and enable communication with prosthetic limbs. As a result, brain implants are extensively employed to gain a deeper understanding of brain functions, develop innovative medical procedures, record patterns of neural activity, and enhance the effectiveness of existing medications.

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Brain Implants Market Trends and Drivers:

The market is primarily driven by the rising incidences of neurological disorders such as epilepsy, Parkinson's, and Alzheimer's. In addition, the growing geriatric population that is highly susceptible to these conditions, and the increasing awareness regarding brain implant benefits are contributing to the market growth. Moreover, the increasing utilization of deep brain stimulation (DBS) that targets dysfunctional areas of the brain and is employed to improve cognitive function in individuals with Tourette's syndrome, and psychiatric disorders represent another major growth-inducing factor. Besides this, various technological advancements, such as magnetic resonance imaging (MRI) safety-enabled brain implants and the launch of transdermal neuromodulation technology, are accelerating the product adoption rate. The market is further propelled by the introduction of microelectrode arrays, motor neuron prostheses, and brain-computer interfaces (BCIs) that provide benefits such as improved patient mobility. Furthermore, the researchers are developing carbon nanotubes and conventional silicone implants for use in the brains of soldiers and athletes to enhance combat performance and sports focus, thus creating a positive market outlook.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product:

Deep Brain Stimulators
Spinal Cord Stimulators
Vagus Nerve Stimulators

Breakup by Application:

Chronic Pain
Epilepsy
Parkinson’s Disease
Depression
Essential Tremor
Alzheimer’s Disease

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape with Key Player:

Abbott Laboratories
Aleva Neurotherapeutics SA
Boston Scientific Corporation
Cochlear Ltd.
Edwards Lifesciences Corporation
Medtronic
Ndi Medical LLC
NeuroPace Inc.
Nevro Corp.
Synapse Biomedical Inc
Synchron Inc.

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