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Brain Implants Market Trends, Industry Size, Growth Opportunities And Forecast To 2033
Brain Implants Market
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
1. Executive Summary
2. Brain Implants Market Report Structure
3. Brain Implants Market Trends And Strategies
4. Brain Implants Market - Macro Economic Scenario
5. Brain Implants Market Size And Growth
…..
27. Brain Implants Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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