USD 1.25 billion
Global Brain Implant Market Size, Share, Growth Analysis, By Type(Deep brain stimulation (DBS) and vagus nerve stimulation (VNS).), By Application(Parkinson's disease, epilepsy), By End user(Hospitals, neurology clinics) - Industry Forecast 2024-2031
Report ID:
SQMIG45A2172 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
88 |
Figures:
76
Global Brain Implant Market Insights
Brain Implant Market size was valued at USD 1.25 billion in 2021 and is poised to grow from USD 1.4 billion in 2022 to USD 3.52 billion by 2030, at a CAGR of 12.2% during the forecast period (2023-2030).
The global brain implant market has been experiencing steady growth, driven by advancements in technology and a rising prevalence of neurological disorders.
Brain implants, also known as neural implants or neuroprosthetics, are implanted medical devices that interface with the brain to diagnose, monitor, and treat various neurological conditions.
With applications ranging from epilepsy management and Parkinson's disease treatment to cognitive enhancement and brain-computer interfaces, brain implants offer promising therapeutic options.
Key players in the market, including Medtronic, Abbott Laboratories, and Boston Scientific, invest in research and development to advance brain implant technologies. Technological advancements, such as miniaturization, improved electrode designs, and integration with artificial intelligence algorithms, are enhancing the efficacy and safety of brain implants.
However, ethical and privacy considerations surrounding brain implants, such as informed consent and data protection, need to be addressed as the field continues to evolve.
Overall, the global brain implant market is projected to grow at a significant rate, driven by the increasing demand for effective neurological treatments and the continuous pursuit of innovative solutions.
US Brain Implant Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Parkinson's disease
Growth Rate
12.2% CAGR
Global Brain Implant Market ($ Bn)
Country Share for North America Region (%)
Global Brain Implant Market By Application ($ Bn)
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Global Brain Implant Market Segmental Analysis
The global brain implants market is segmented based on type, application, end user, and region. In terms of type, the market is divided into deep brain stimulation (DBS) and vagus nerve stimulation (VNS). DBS involves the implantation of electrodes to deliver electrical impulses to specific brain areas, while VNS utilizes electrical stimulation of the vagus nerve for neurological treatment. The market is categorized by application into Parkinson's disease, epilepsy, and other conditions. The end users of brain implant devices include hospitals, neurology clinics, and other healthcare settings. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Brain Implant Market Analysis By Application
Among the various applications of brain implants, Parkinson's disease stands out as the largest segment and one of the fastest-growing segments in the market. Parkinson's disease is a prevalent neurological disorder characterized by motor symptoms such as tremors, rigidity, and impaired movement. Brain implants, specifically deep brain stimulation (DBS), have emerged as a highly effective treatment option for managing these symptoms.
The market for brain implants in Parkinson's disease is witnessing significant growth due to several factors. Firstly, the increasing prevalence of Parkinson's disease globally, coupled with a growing aging population, is driving the demand for innovative therapeutic solutions. According to the Parkinson's Foundation, approximately 10 million people worldwide are living with Parkinson's disease, and this number is projected to double by 2040.Secondly, brain implants have demonstrated remarkable success in improving the quality of life for Parkinson's patients. DBS involves the implantation of electrodes in specific regions of the brain, which deliver electrical impulses to regulate abnormal neural activity associated with the disease. This intervention helps alleviate motor symptoms, reduces medication requirements, and enhances overall patient outcomes. As a result, more patients and healthcare providers are recognizing the efficacy of brain implants in managing Parkinson's disease, contributing to the growth of this segment.
Furthermore, ongoing technological advancements in brain implant devices, such as improved electrode designs, advanced programming algorithms, and miniaturization, are enhancing the precision and effectiveness of Parkinson's treatment. These innovations provide patients with greater customization, adaptability, and long-term benefits, further driving the market growth.In conclusion, the application of brain implants in Parkinson's disease represents the largest segment in the market, owing to the increasing prevalence of the disease and the substantial positive impact of deep brain stimulation. With a growing aging population and continuous advancements in technology, the segment is poised for further expansion, offering a compelling opportunity for stakeholders and market players to contribute to the well-being of Parkinson's patients and capture a significant share of the market.
Brain Implant Market Analysis by Eend user
Among the various end users of brain implants, hospitals emerge as the largest segment and one of the fastest-growing segments in the market. Hospitals play a crucial role in the adoption and utilization of brain implant devices due to their specialized facilities, expert medical professionals, and comprehensive patient care capabilities. The dominance of hospitals as the largest segment is backed by several factors. Firstly, hospitals serve as the primary healthcare institutions for patients with neurological disorders who require brain implant interventions. These institutions possess the necessary infrastructure and equipment to conduct implantation procedures, including surgical suites and advanced imaging technologies, ensuring precise placement of the implant devices. Moreover, hospitals house multidisciplinary teams of neurologists, neurosurgeons, anesthesiologists, and other specialized healthcare professionals who collaborate to provide optimal care and support throughout the treatment journey.
Secondly, hospitals often act as referral centers for complex cases, attracting patients from various regions seeking specialized neurological care. This drives the demand for brain implant procedures in hospitals, further contributing to the growth of this segment. Additionally, hospitals tend to have stronger financial resources and better reimbursement capabilities, allowing them to invest in advanced brain implant technologies and offer comprehensive post-implantation follow-up care.
Furthermore, with the increasing prevalence of neurological disorders and the growing awareness of brain implant treatment options, the demand for these procedures in hospitals is expected to rise. The availability of comprehensive medical services, ongoing research, and collaboration with industry stakeholders also foster innovation and drive the adoption of brain implant technologies in hospitals.
Global Brain Implant Market By Application, 2023 (%)
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Global Brain Implant Market Regional Insights
Among these, North America stands out as the dominating region, while Asia-Pacific is identified as the fastest-growing region. North America, including the United States, Canada, and Mexico, holds a significant market share in the global brain implant market . The region benefits from advanced healthcare infrastructure, robust research and development activities, and a high prevalence of neurological disorders. The United States, in particular, has a strong presence of key market players and renowned research institutions, contributing to the region's dominance. For instance, Medtronic, a leading medical device company, holds a significant share in the brain implant market and is headquartered in Minnesota, USA. The region's focus on technological advancements, regulatory support, and reimbursement policies further propels the market growth.
On the other hand, the Asia-Pacific region, including countries like Japan, China, India, Australia, and South Korea, presents immense growth opportunities in the brain implant market. The region has a large population base, rising disposable income, and an increasing prevalence of neurological disorders. Governments in countries like China and India are investing in healthcare infrastructure and promoting research and development initiatives, fostering the growth of the market. For example, Neuralink, a neurotechnology company founded by Elon Musk, aims to establish its presence in the Asian market, with potential expansion in China, to capitalize on the growing demand for brain implant technologies. With a combination of untapped market potential and a focus on healthcare advancements, the Asia-Pacific region is projected to experience rapid growth in the brain implant market.
Global Brain Implant Market By Geography, 2024-2031
- Largest
- Fastest
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Global Brain Implant Market Dynamics
Brain Implant Market Drivers
Increasing Prevalence of Neurological Disorders
- The rising incidence and prevalence of neurological disorders such as Parkinson's disease, epilepsy, and chronic pain are driving the demand for brain implant technologies. These implants offer effective treatment options for managing symptoms and improving patients' quality of life.
Brain Implant Market Restraints
Ethical and Privacy Concerns
- The use of brain implants raises ethical concerns related to informed consent, privacy, and potential misuse of brain data. The invasive nature of brain implant procedures also poses risks and requires careful consideration of the potential benefits and long-term implications for patients.
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Global Brain Implant Market Competitive Landscape
The competitive landscape of the global brain implant market is characterized by intense competition among key players striving to innovate and capture market share. These companies invest heavily in research and development to introduce technologically advanced brain implant devices and expand their product portfolios. Collaborations, partnerships, and acquisitions are common strategies employed by these players to strengthen their market presence.
Brain Implant Market Top Player’s Company Profiles
- Medtronic (United States)
- Abbott Laboratories (United States)
- Boston Scientific Corporation (United States)
- NeuroPace (United States)
- Cochlear Limited (Australia)
- LivaNova PLC (United Kingdom)
- Stryker Corporation (United States)
- Nevro Corporation (United States)
- NDI Medical (United States)
- Nihon Kohden Corporation (Japan)
- Second Sight Medical Products, Inc. (United States)
- Aleva Neurotherapeutics SA (Switzerland)
- Renishaw plc (United Kingdom)
- Cyberonics, Inc. (United States)
- Neuronetics, Inc. (United States)
- Natus Medical Incorporated (United States)
- BrainLab AG (Germany)
- St. Jude Medical, Inc. (United States)
- NeuroSigma, Inc. (United States)
- Alpha Omega Engineering (Israel)
Brain Implant Market Recent Developments
- In April 2022, the U.S. Food and Drug Administration (FDA) granted approval to a brain stimulation software specifically developed for the treatment of Parkinson's disease. Known as Verse Neural Navigator with Stimview XT, this innovative software offers clinicians the ability to visualize lead placement and simulation modeling. Additionally, it provides patient-specific 3D modeling, allowing for customized therapeutic approaches. By aiding in lead placement and reducing programming time, this software empowers healthcare professionals to make more informed treatment decisions. The FDA approval signifies a significant advancement in the field of brain stimulation for Parkinson's disease and highlights the ongoing efforts to improve patient outcomes and enhance the overall treatment experience.
Global Brain Implant Key Market Trends
- One key market trend in the global brain implant market is the increasing focus on miniaturization and wireless connectivity of implantable devices. Advancements in technology have led to the development of smaller, more compact brain implants, reducing the invasiveness of surgical procedures and enhancing patient comfort. Miniaturized implants offer the potential for minimally invasive or even non-invasive approaches, such as transcranial magnetic stimulation (TMS) or non-invasive electrical stimulation techniques. These advancements are particularly important for patients who may benefit from long-term implantation, as smaller devices can reduce the risk of complications and allow for easier implantation and removal.
Global Brain Implant Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Deployment mode team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the global brain implant market is poised for robust growth in the foreseeable future. Companies focus on obtaining regulatory approvals, such as FDA clearances, to ensure the safety and efficacy of their products. With increasing competition and evolving customer demands, companies are also investing in customer support services and post-implantation patient monitoring to differentiate themselves in the market. Overall, the competitive landscape of the brain implant market is driven by innovation, technological advancements, strategic collaborations, and a customer-centric approach.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.25 billion |
| Market size value in 2031 | USD 3.52 billion |
| Growth Rate | 12.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Brain Implant Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Brain Implant Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Brain Implant Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Brain Implant Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Brain Implant Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Brain Implant Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Brain Implant Market Report Snapshots
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