Brain Implant Market Analysis, Future Opportunity, Current Challenges, Geographical Regions, Key Manufacturers & Industry Forecast to 2030

The brain implant market will reach a value of about USD 9.5 billion by 2030. The main factors responsible for the growth of the industry are the increasing cases of neurological ailments, for example epilepsy, Alzheimer's, Parkinson's, and tremors; increasing healthcare spending, increasing elderly population globally, and increasing count of people suffering from depression.

Deep brain stimulation dominated the industry. This had a lot to do with the number of advantages of deep brain stimulation over other therapies, for example the decrease in the slowness, stiffness, and difficulties in walking caused by diverse neurological ailments, for example dystonia, Parkinson's disease and tremors.

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Patients who are not responding to medication at least for half a decade are advised to go for this treatment.

The chronic pain category will grow the fastest in the years to come, on the basis of application. This will mostly be because of the growing occurrences of chronic pain amongst patients with neurological disorders.

Key Players in Brain Implant Market Include:
• Medtronic plc
• Abbot Laboratories
• Inspire Medical Systems Inc.
• Boston Scientific Corporation
• NeuroPace Inc.
• Nevro Corporation
• Synapse Biomedical Inc.
• Aleva Neurotherapeutics SA

North America will be the leader of the pack in the future. This will mainly be due to an increase in the tech expansions in brain implants, aging population existence of a number of market stalwarts, and increasing number of approval of new products.

Also, the increasing cases of neurological ailments, along with the growing spending on brain implant devices, will be the significant factors powering the growth of the brain implant market in the years to come, as per a report by P&S Intelligence.

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APAC will experience the fastest growth in the market by the end of this decade. The main reasons for this will be the increasing investments because of the shortage of long-term treatment solutions for psychiatric and neurodegenerative disorders.

Furthermore, the healthcare infra is improving at a fast pace, accompanied by the affordability of the procedures, thus playing a part in the market growth.

The growing life expectancy and decreasing death rate are the key contributors to the growth in the elderly population.

As per the UN, globally, the percentage of the population, which is aged 65 and above increased from 6% in 1990 to 9% in 2019. This will further increase to 16% by 2050.

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The elderly people are in need of extensive care since they are further susceptible to Alzheimer's, Parkinson's, epilepsy, and essential tremors, along with depression. Therefore, the ballooning elderly population significantly contributes to the requirement for enhanced brain implant technologies.

The growing elderly population and the increasing healthcare expenditure all over the world, both will have a positive impact on the demand for brain implants, in the years to come.

Market Size Breakdown by Segment

By Type
• Deep Brain Stimulation
• Spinal Cord Stimulation
• Vagus Nerve Stimulation
By Application
• Chronic Pain
• Epilepsy
• Parkinson's Disease
• Depression
• Essential Tremor
• Alzheimer's Disease

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This release was published on openPR.