The global brain implants market is expected to grow from USD 2.1 billion in 2020 to USD 8.9 billion by 2031, at a CAGR of 12.5%. The growth of the brain implant market is mainly driven by the rising prevalence of neurological disorders, technological advancements in implantable devices, and increasing government funding for neuroscience research.
The rising prevalence of neurological disorders is the major factor driving the growth of the brain implant market. According to the World Health Organization (WHO), around 50 million people worldwide suffer from epilepsy, and over 47 million people suffer from Alzheimer’s. Furthermore, an estimated 6.8 million people die due to stroke every year. These factors are expected to fuel the demand for brain implants for treating various neurological disorders.
The brain implant market is expected to grow significantly in the coming years. This is due to the increasing number of people suffering from neurological diseases and disorders. Brain implants can help improve the quality of life for these patients by providing them with a better way to communicate and interact with their surroundings.
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Segment by Type
Deep Brain Stimulation
Spinal Cord Stimulation
Vagus Nerve Stimulation
Segment by Application
Chronic Pain
Epilepsy
ParkinsonS Disease
Depression
Essential Tremor
AlzheimerS Disease
Segment by key players
Boston Scientific, Medtronic, St. Jude Medical, Nevro Corporation, NeuroPace Inc, NDI Medical LLC, Aleva Neurotherapeutics, Sapiens Neuro, Edwards Lifesciences Corporation, Terumo Corporation, Cochlear Ltd., AbiomedInc., Ekso Bionics
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Brain Implants Market Features, Advantages, Benefits:
The Brain Implants Market is forecast to reach $3.5 billion by 2025, growing at a CAGR of 7.1% during the forecast period. The market is driven by factors such as the increasing incidence of neurological disorders, the rising demand for better treatment options, and the development of new technologies. Brain implants are devices implanted into the brain to restore or improve its function. They are used to treat various conditions such as Parkinson’s disease, Alzheimer’s disease, epilepsy, and brain injuries. Brain implants offer many benefits to patients, including improved quality of life, better communication, and enhanced cognitive abilities.
The global brain implant market is expected to reach USD 7.1 billion by 2025, according to a new report by Market.us. The market is anticipated to witness a CAGR of 12.9% during the forecast period. The rising incidence of neurological disorders and technological advancements in the field of neurostimulation are the major factors driving the market’s growth.
In terms of product, the global brain implant market is classified into deep brain stimulation (DBS), visual prosthesis, sacral nerve stimulation (SNS), and vagus nerve stimulation (VNS). DBS held the largest market share in 2016 and is expected to maintain its dominance over the forecast period. This can be attributed to the growing number of patients suffering from Parkinson’s disease and other neurological disorders.
Global Market Challenges Brain Implants
1. Even if research costs are minimal, producing Brain Implants is a complex and costly process. This requires significant expenditures, clinical trial experience, and process improvement.
2. Unlike generic drug creation, Brain Implants producers, will also need to invest in clinical studies and safety controls procedures comparable to those performed by original patent-holding firms.
3. Manufacturing is not easy. It’s also difficult to control the variation of the products expected to be developed. End products manufactured in different ways from those of their reference products can create problems.
4. Regulatory authorities could request additional preclinical or clinical evidence to show that the manufacturing procedure did not affect the product’s effectiveness and safety.
5. Producers of Brain Implants products must compete with other Brain Implants producers and the original biological and generic drug manufacturers. The original biologic company can be competitive by launching new products, second-generation therapies, dose enhancements, or economic manufacturing processes as new Brain Implants goods are introduced to the market.
6. Doctors’ perception of Brain Implants is still negative, which can affect their prescription to some degree. Other factors, such as patent extensions or lower prices than generic drugs, can also hinder global Brain Implants market expansion.
Review of Report Highlights
@ Detailed overview of the market’s parent
@ Changes in market dynamics
@ In-depth market segmentation
@ Historical, current, as well as projected market size in terms of volume and value
@ The latest industry trends and developments
@ Competitive landscape
@ Key player’s strategies and products
@ Potential growth opportunities in niches and regions that are promising
@ A neutral view of market performance
@ It is essential information that market players must know to grow and sustain their market share.
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This Market Study Answers These Questions:
1. What is the buying pattern of customers in a certain region of Brain Implants?
2. How much money can a customer put into Brain Implants?
3. What are the major factors that will drive product demand in the future vs. present?
4. How does technology preference change consumer behavior in Brain Implants?
5. Which messages from Brain Implants have the greatest impact on your audience?
6. What causes product switching to occur?
7. What technological advancements have affected supplier selection criteria?
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