- 11 July 2019 21:33
Brain Implants Market By Product Type, Application, And Region/Country- Global Forecast To 2023
Global Brain Implants Market: Introduction
Brain implants are type of neural devices referred as neural implants. The brain implants are technological devices which are connected to the brain-generally attached to the cortex of the brain, or placed on the surface of the brain. The brain implants are primarily inserted into the brain to enhance physical movement, memory, and sensitivity. In addition, they are also used to gather brain responses while performing various activities. The global Brain Implants Market is expected to value at over US$ 3 Bn in 2019, and is expected to register a CAGR of 9.7%.
Global Brain Implants Market: Dynamics
Major factor driving growth of the global market is high prevalence of neurological disorders such as Parkinson’s and Alzheimer’s diseases, epilepsy, depression, and essential tremor among all age groups across the globe. In addition, rising support by government authorities and various healthcare organizations to improve overall healthcare infrastructure in emerging countries and increasing skilled healthcare professionals to provide the treatment are other key factors expected to fuel growth of the target market.
Growing brain implant surgery treatment among geriatric population across the globe to treat neurological disorders and other age-related diseases and disorders is another factor expected to boost growth of the global brain implants market over the forecast period. In addition, rising awareness about the technologically advanced brain implant devices among individuals across the globe is another major factor expected to propel growth of the global market.
Analysis By Segmentation:
The market report has been segmented on the basis of product type, application, and region/country. The product type segment includes deep brain stimulator, spinal cord stimulator, and vagus nerve stimulator. The application segment includes chronic pain, epilepsy, Parkinson’s disease, depression, and essential tremor. The region/country includes North America, Europe, China, Japan, Middle East & Africa, India, and South America.
By Product Type: The vagus nerve stimulator segment is expected to register highest CAGR of over 10.9% over the forecast period in the global market.
By Application: The Parkinson’s disease segment is projected to account for highest revenue share as compared to other application segments, and register highest CAGR of over 10% over the forecast period.
By Region/Country: The market in North America is expected to register highest CAGR of over 10% in the global market.
Global Brain Implants Market: Competitive Analysis
The research report on the global brain implants market includes profiles of some of the major companies such as Abbott Laboratories, Boston Scientific Corporation, Medtronic, Plc., Nevro Corp., Terumo Corporation, Aleva Neurotherapeutics SA, NDI Medical, LLC, LivaNova, PLC, NeuroPace, Inc., and Synchron, Inc.
The Global Brain Implants Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2018–2023 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global brain implants market for 2013–2023.
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