Revenue of Brain Implants Market Demand Outlook for 2022-2032:

As per the Global Brain Implants Market research by Future Market Insights – a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Brain Implants Market increased at around 10.1% CAGR.

Brain Implants Market Size analysis report by Future Market Insights shows that global sales of Brain Implants Market in 2021 was held at US$ 5.1 Bn. With 12.3%, the projected market growth during 2022 – 2032 is expected to be slightly higher than the historical growth.

The key revenue drivers which affected the Brain Implants Market are increase in the awareness among individuals regarding mental health, lifestyle, rise in the number of various neurological ailments like depression, anxiety, chronic pain, epilepsy, Alzheimer’s, Parkinson’s, etc. In 2020, the chronic pain sector dominated the brain implant therapeutics market, accounting for 58.8 percent of total revenue.

Key Companies Profiled

Abbott Laboratories
Medtronic PLC
NeuroPace Incorporation
Nevro Corporation
Aleva Neurotherapeutics SA
Synapse Biomedical Incorporation
Boston Scientific Corporation
Sapiens Neuro
Edwards Lifesciences Corporation
Region-Wise Insights

Which Region is projected to Offer the Largest Brain Implants Market Opportunity?

During the projection period, North American Brain Implants Market is predicted to be the leading market for Brain Implants. According to the reports presented by Alzheimer’s disease Facts and Figures, with the increase in the number of senior citizens in the United States, the number of new and current instances of Alzheimer’s disease will also surge.

Unless medical breakthroughs to prevent, halt, or cure Alzheimer’s disease are developed, the number of persons aged 65 and older with Alzheimer’s disease is expected to rise to 12.7 Mn by 2050.

In addition, a rise in government spending and programs on rising awareness of motion disorders are projected to boost demand for brain implant devices in the region. The Parkinson’s Foundation, for example, invested US$ 3.5 Mn in 2020 to sponsor over 34 Parkinson’s disease research initiatives. These factors are likely to increase the demand for brain implants in the region.

Country-Wise Analysis

Which Country Lies at the Centerstage for Brain Implants Market Revenue?

The United States is expected to account for the highest market of US$ 6.6 Bn by the end of 2032. Currently, the U.S. market is estimated at US$ 2 Mn.

This is due to several factors such as an increase in the incidence of neurological disorders, high awareness of various medical options, developed healthcare facilities and presence of well-virtuous physicians. It is proclaimed that brain implants has proved to provide the best treatment for depression in the U.S.

Category-Wise Insights

Why Deep Brain Stimulator is projected to Witness Fastest Growth among Brain Implants Product Type?

Market revenue through Deep Brain Stimulator is forecasted to grow at a CAGR of over 14.4% during 2022-32. The contributing factors for such growth are technological advancements like rechargeable implantable pulse generators, robot-assisted implantation, and a rise in the adoption of advanced Deep Brain Stimulator systems in healthcare units and neuro centers.

Market growth will also be stimulated due to the increase in the elderly population and innovative products in the future. However, the high cost of DBS (Deep Brain Stimulator) devices, restricted access to advanced therapy, and side effects may hamper the brain implant market dynamics during the projection period.

Market through which Disease is expected to Score Highest Growth in Revenue in the Coming Years?

Chronic Pain accounted for the highest revenue as well as a CAGR of around 13.4% for the demand for brain implants during the forecast period. Chronic pain is one of the core reasons as why individuals, mainly adults seek medical care. It hinders mobility, day to day activities, causes panic attacks and depressions and destroys lifestyle.

People suffering from chronic pain are more prone to have psychological disorders than those who do not experience it. According to research, 6%-35% of the individuals suffering from chronic pain also have comorbid anxiety illness, and almost 50% of patients have anxiety and depression symptoms.

Competitive Analysis

Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in brain implants market are focused on their alliances, technology collaborations, and product launch strategies. The Tier 2 Players in the market are targeting to increase their brain implant market share.

Key Regions Covered

North America, Latin America, Europe, Asia Pacific, Middle East & Africa

Key Countries Covered

United States, Canada, Brazil, Mexico, Germany, U.K., France, Spain, Italy, Russia, China, Japan, South Korea, India, Australia, South Africa, Saudi Arabia, UAE and Israel.

Some of the recent developments of key Neural Implants providers are as follows:

In April 2022, the FDA approved brain stimulation software for use in Parkinson’s disease. Vercise Neural Navigator with Stimview XT will allow clinicians to visualize the lead placement and stimulation modelling, and is designed to provide patient-specific 3D modeling for therapeutic customization. The software is intended to aid in the placement of leads, minimise programming time, and allow for more informed treatment.

In June 2021, Medtronic plc received FDA approval for its SenSight Directional Lead System, which is used for deep brain stimulation therapy.

In March 2021, Abbott announced the launch of NeuroSphere Virtual Clinic. Deep brain stimulation patients can get programmed their devices and reset them remotely, from the comfort of their own homes, without travelling to a specialist, owing to a newly launched FDA-approved tool.

Information Source: https://www.futuremarketinsights.com/reports/brain-implants-market