The global brain
implants market size is anticipated to reach USD 8.29 billion by
2025, according to a new report by Grand View Research, Inc., rising at a CAGR
of 11.9% during the forecast period. Mounting cases of neurological disorders
such as Parkinson’s, Alzheimer’s, epilepsy, depression, and tremors are
contributing to market growth.
Growing incidence of Parkinson’s disease is boosting
the demand for brain implants. These implants help in improving body movement
and reduce the need for drugs. According to statistics presented by Parkinson’s
News Today, about 10 million people suffer from this disease globally. Cases of
epilepsy are also increasing due to brain injuries, stroke, and unhealthy
lifestyle. As per statistics by Forbes, nearly 3 million people were affected
with epilepsy in U.S. in 2017. Demand for vagus nerve stimulators is on a sharp
rise owing to its treatment benefits for epilepsy.
In addition, factors such as technological
advancements in brain implants, along with rising disposable income in
developed countries, are propelling market growth. The market is expected to
witness lucrative growth over the coming years as a consequence of increasing
number of research activities leading to technological breakthroughs. These
include self-charging implants and memory chips, which are estimated to unfold
tremendous growth opportunities over the forecast period.
Browse full research report on Brain Implants Market: https://www.grandviewresearch.com/industry-analysis/brain-implants-market
Further
key findings from the study suggest:
- In 2016, the deep brain stimulator segment was identified as the
largest, accounting for over 37.0% of the overall market revenue. The
product is projected to maintain its position over the forecast period due
to rising incidence of Parkinson’s disease
- The Parkinson’s disease segment is poised to expand at the fastest
growth rate in terms of revenue during the same period owing to factors
such as drop in smoking rate and coffee consumption, particularly in
developed countries
- Demand for brain implants will remain the highest for treatment of
chronic pains throughout the forecast period, representing approximately
58.0% of the overall market revenue by 2025
- The Asia Pacific brain implants market is likely to exhibit the
highest CAGR of over 13.0% over the same period, owing to rising healthcare
spending and disposable income of the populace in countries such as Japan
and China
- Boston Scientific; Medtronic; St. Jude Medical; Nevro Corporation;
NeuroPace Inc.; and NDI Medical LLC are some of the key players in the
brain implants market.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/medical-devices
Grand
View Research has segmented the global brain implants market on the basis of
product, application, and region:
Brain
Implants Product Outlook (Revenue, USD Million, 2014 - 2025)
- Deep brain
stimulator
- Spinal cord
stimulator
- Vagus nerve
stimulator
Brain
Implants Application Outlook (Revenue, USD Million, 2014 - 2025)
- Chronic Pain
- Epilepsy
- Parkinson’s
disease
- Depression
- Essential
tremor
- Alzheimer’s
disease
Brain
Implants Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- Middle East
and Africa (MEA)
- South Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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