Brain Implants Market Shares, Growth Analysis, Key Insights, Size And Forecast To 2033

The brain implants market size has grown rapidly in recent years. It will grow from $5.58 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to increased prevalence of neurological disorders, rising aging population, advancements in surgical techniques, expanding applications in research, awareness and acceptance..

The brain implants market size is expected to see rapidly grown in the next few years. It will grow to $8.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to innovations in material science, emerging therapeutic applications, increasing investment in research and development, rising healthcare expenditure, collaborations and partnerships.. Major trends in the forecast period include research focus on brain-machine interfaces (bmis), enhanced biocompatibility of implant materials, exploration of ethical and regulatory frameworks, emergence of consumer-grade brain-computer interfaces (bcis), collaborations between academic and industry players..

Market Overview -
A brain implant is a sophisticated technological device that interfaces directly with a person's brain, typically situated on the brain's surface or attached to the cortex. These devices serve as biomedical prostheses, bypassing areas in the brain that may no longer function properly due to factors like strokes or head injuries. Brain implants have many applications, including treating conditions such as paralysis, speech impairments, and vision impairment.

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Rise In Prevalence Of Neurological Diseases Propels Growth Of Brain Implants Market
The rise in the prevalence of neurological diseases is expected to propel the growth of the brain implant market going forward. Neurological diseases are a broad category of medical conditions that affect the nervous system, which includes the brain, spinal cord, and peripheral nerves. Brain implants offer a level of customization and control that traditional medications often cannot achieve, allowing for the modulation of neural activity and the reduction of symptoms, ultimately enhancing the well-being and functionality of patients. For Instance, in February 2023, according to the World Health Organization (WHO), a US-based intergovernmental organization, epilepsy, a neurological disease, affects 5 million people globally yearly, with high-income countries seeing 49 per 100,000 cases, while low- and middle-income countries see up to 139 per 100,000. Therefore, the rise in the prevalence of neurological diseases is driving the growth of the brain implant market.

Competitive Landscape -
Major companies operating in the brain implants market report are Abbott Laboratories, Medtronic Plc., GE HealthCare Technologies Inc., Boston Scientific Corporation, Nihon Kohden Corporation, LivaNova Plc, Renishaw Plc, Nevro Corporation, NeuroPace Inc., BrainGate, Synchron Inc., Blackrock Neurotech, MicroTransponder Inc., NeuroSigma Inc., Pixium Vision SA, Inbrain Neuroelectronics, Neuralink Corporation, NDI Medical PLC, Neurosoft Bioelectronics SA, Blackrock Microsystems LLC, Fisher Wallace Laboratories LLC, Functional Neuromodulation Inc., Stimwave LLC, Aleva Neurotherapeutics SA, Beijing PINS Medical Co. Ltd.

Developing Technologically Advanced Brain Implants To Drive The Revenues
Major companies operating in the brain implants market are focusing on developing technologically advanced brain implants with innovative therapies such as Vagus Nerve Stimulation (VNS) Therapy to drive revenues in the market. Vagus Nerve Stimulation (VNS) Therapy is a safe and effective treatment for drug-resistant epilepsy in adults and children, preventing and stopping seizures. For instance, in February 2023, LivaNova PLC, a UK-based medical device company, launched SenTiva DUO, an implantable pulse generator with a dual-pin header, to provide VNS therapy for drug-resistant epilepsy. This new device allows patients who were pioneers of VNS therapy and had a dual-pin lead and IPG implanted with the original SenTiva to receive the latest technology without needing lead revision. SenTiva DUO offers customized therapy, optimal seizure control, and maximum adherence to treatment. Both devices provide stimulation in response to rapid heart rate increases, allow day-night programming scheduled programming, and log low heart rate and prone position events.

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Key Segments -
The brain implants market covered in this report is segmented -
1) By Product: Deep Brain Stimulator, Spinal Cord Stimulator, Vagus Nerve Stimulator
2) By Application: Chronic Pain, Epilepsy, Parkinson's Disease, Depression, Essential Tremor, Alzheimer's Disease
3) By End User: Hospitals, Neurology Clinics, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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