The global Brain Implants market size is expected to be worth around US$ 11.2 billion by 2030, according to a new report by Vision Research Reports.
The global Brain Implants market size was valued at US$ 6.6 billion in 2020 and is anticipated to grow at a CAGR of 10.1% during forecast period 2021 to 2030.
The rise in neurological disorders such as epilepsy, Parkinson’s disease, depression, and tremors as well as growing investments in R&D to develop cost-effective brain implants is attributing to the growth of the market.
The presence of a large population base suffering from various neurological and physiological disorders and conditions is expected to boost the demand for implants during the forecast period. For instance, as per the Parkinson’s Foundation 2016 report, over 10 million people globally are living with Parkinson’s disease (PD). Thus, the increasing cases of PD are expected to drive the market. However, the outbreak of the COVID-19 pandemic is restricting the growth of the market. For instance, as per the Neuromodulation Society of the U.K. and Ireland, in the U.K. all the NHS hospitals were instructed to suspend all the non-urgent elective surgeries due to the pandemic from 15th April in 2020 for at least three months.
In addition, technological advancements such as self-charging implants and memory chips are anticipated to provide the market with growth opportunities over the forecast period. For instance, in January 2020, Abbott’s Infinity DBS received an extended indication approval from the U.S. FDA for PD treatment.
The deep brain stimulators segment dominated the market for brain implants and accounted for the largest revenue share of 37.0% in 2020, owing to its use in various applications in neurological disorders. The growing adoption of DBS for the treatment of various neurological disorders including obsessive-compulsive disorder, Parkinson’s diseases, dystonia, essential tremor, epilepsy, and Alzheimer’s disease is a key growth driver of this segment. In addition, growing awareness about neurological movement disorder treatment among patients is anticipated to trigger the growth of this segment.
However, the vagus nerve stimulator segment is expected to grow at the highest compound annual growth rate (CAGR) of 9.5% from 2021 to 2028, owing to applications in the treatment of various disorders such as anxiety, migraines, fibromyalgia, tinnitus, and obesity. It is mainly used to deliver electrical impulses to the vagus nerve. In addition, product launches with advanced technology are enhancing the quality of therapy. For instance, in 2017 NeuroScience company launched the first non-invasive vagus nerve stimulation therapy product called GammaCore. This is also likely to bolster market growth.
The chronic pain segment dominated the market for brain implants and accounted for the largest revenue share of 58.8% in 2020. An increase in the incidence of chronic pain has created clinical urgency for incorporating long-term solutions. For instance, as per the National Health Interview Survey, in 2016, the prevalence of chronic pain was around 20.4% in adults in the U.S. (50 million) and about 8.0% of adults in the country (19.6 million) had high-impact chronic pain. Stimulators are mainly used in cases when chronic neck or back pain has not been relieved despite surgery or other treatments. With increasing chronic pain due to conditions such as lumbar and cervical radiculitis, failed back surgery, and neuropathy, the demand for stimulators is rising. This, in turn, is anticipated to fuel the growth of the market for brain implants.
However, the Parkinson’s disease segment is expected to witness the highest CAGR of 10.1% from 2021 to 2028 owing to the increasing number of the geriatric population who are prone to conditions such as Parkinson’s and Alzheimer’s diseases. According to the UN Department of Economic and Social Affairs, currently, the global population is 7.7 billion, which is expected to increase to 9.7 billion by 2050, thus supporting segment growth during the forecast period.
North America dominated the market for brain implants and accounted for the largest revenue share of 42.9% in 2020. This dominance can be attributed to factors such as an increase in the prevalence of neurological disorders, a rise in awareness about treatments, the availability of highly skilled physicians, and the presence of well-established healthcare facilities. Moreover, an increase in government funding and initiatives for raising awareness about movement disorders are expected to drive the demand for deep brain stimulation devices in the region. For instance, in 2020, Parkinson’s Foundation invested USD 3.5 million to fund more than 34 research projects for Parkinson’s disease. These factors are expected to boost the demand for brain implants in this region.
However, Asia Pacific is expected to significantly lead the market in the future from 2021 to 2028 owing to various factors such as the rising prevalence of neurodegenerative and psychiatric disorders, coupled with unmet need for effective and long-term treatment solutions, increasing affordability, and a rising number of awareness programs. Increasing initiatives being undertaken by neurosurgeons and neurology clinics to raise awareness about brain implants are expected to present significant growth opportunities for the brain implants market in this region. Moreover, high R&D investments by global market players owing to their low-cost structure are among the key drivers of the market in the region.
Boston Scientific Corporation
St. Jude Medical (Abbott)
Synapse Biomedical Inc.
Aleva Neurotherapeutics SA
Deep Brain Stimulator
Spinal Cord Stimulator
Vagus Nerve Stimulator
Middle East and Africa (MEA)
The Brain Implants market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Brain Implants market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Brain Implants market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Brain Implants market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Brain Implants market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Brain Implants capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Brain Implants by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Brain Implants market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Brain Implants market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Brain Implants market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Brain Implants industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Brain Implants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Brain Implants market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Brain Implants market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Brain Implants market. These factors have benefited the growth of the global market for Brain Implants. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Brain Implants. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Brain Implants are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.