What's Driving the Neural Implants Market 2025-2034: Neurological Disorder Prevalence Fuels The Neural Implant Market Expansion

What Are the Projections for the Size and Growth Rate of the Neural Implants Market?
The market for neural implants has experienced swift expansion in the past few years. Projected to rise from $5.39 billion in 2024 to $5.96 billion in 2025, it's anticipated to exhibit a compound annual growth rate (CAGR) of 10.6%. The past growth trend of this market can be credited to factors such as the expansion of pre-existing healthcare facilities, increase in the elderly population, a surge in demand for minimally invasive procedures, a preference for tailor-made treatment alternatives, and the presence of enhanced healthcare infrastructure.

In the following years, the market size for neural implants is predicted to expand rapidly, seeing a growth to $8.8 billion by 2029 at a consistent annual growth rate (CAGR) of 10.2%. The expansion during the prediction period is credited to an increasing occurrence of neurological diseases, improved patient awareness about new treatment methodologies for neurological issues, enhanced access to efficient devices, growing preference for MR-conditional brain implants, and a higher application of high-frequency neuromodulation therapy. During the predicted period, the major trends comprise product innovation, technological advancement, development in neuroprosthetics, and the incorporation of deep learning algorithms into neural implants.

What Key Elements Are Boosting Growth in the Neural Implants Market?
The increasing occurrence of neurologic conditions is anticipated to fuel the expansion of the neural implants market. Neurological disorders, which can be classified as any anomalies of the nervous system in terms of anatomy, biochemistry, or electricity in brain, spinal cord or peripheral nerves, have witnessed a surge for multiple reasons including aging populace, genetic inclinations, and alterations in diagnostic standards. Neural implants, interfacing straight with the nervous system, offer a solution to treat and manage these diverse neurologic illnesses by restoring or upgrading neural functionalities. These devices offer a personalized approach towards treatment, enhancing effectiveness and reducing negative consequences, especially in diseases such as Parkinson's, epilepsy, and spinal cord injuries. The Alzheimer's Association reported in March 2022 that almost 7 million Americans over 65 were grappling with Alzheimer's dementia- a number forecasted to rise to 13.8 million by 2060. Furthermore, predictions estimate that the healthcare and long-term care expenses of those suffering from dementia might soar to $360 billion in 2024 and close to $1 trillion in 2050. Consequently, the escalating occurrence of neurologic disorders is propelling the growth of the neural implants market.

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Which Businesses Are at the Forefront of Neural Implants Market Development?
Major companies operating in the neural implants market are Abbott Laboratories, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, Smith & Nephew plc, Integra LifeSciences, Cochlear Ltd., LivaNova PLC, Renishaw plc, MicroPort Scientific Corporation, Nevro Corp., Inspire Medical Systems Inc., Cyberonics Inc., Axonics Modulation Technologies Inc., Saluda Medical, NeuroPace Inc., Fisher Wallace, BioControl Medical, Cerbomed GmbH, Nuvectra Corporation

What Are the Latest Innovations in the Neural Implants Market?
Key players in the neural implant market, like Abbott Laboratories, are developing cutting-edge items, including deep brain stimulation (DBS) devices, targeted at treating movement problems such as Parkinson's disease and essential tremors. This strategy allows them to stay competitive in the market. DBS devices are medical devices implanted to send electrical impulses to certain areas in the brain to treat neurological conditions. An example of this innovation was reported in January 2024, when Abbott Laboratories introduced the Liberta RC, the most small rechargeable DBS device globally with remote programming capabilities, configured to assist people with movement disorders. It necessitates the minimum number of recharges annually for most users among all FDA-endorsed DBS systems, needing only about 10 recharge sessions. This product is designed to work with Abbott's exclusive NeuroSphere Virtual Clinic, enabling customers to get in touch with medical professionals, verify proper operation and settings, and to receive treatment settings updates remotely. A wireless charger that fits over the device is used by the system, enabling users to keep moving while it charges. Furthermore, the device offers practical notifications and customizable settings for a personalized charging experience.

How Is the Neural Implants Market Segmented?
The neural implants market covered in this report is segmented -

1) By Product: F And B Spinal Cord Stimulation (SCS), Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS)
2) By Application: Chronic Pain, Parkinson's Disease (PD), Epilepsy, Other Applications
3) By End-User: Hospitals, Specialized Neurological Centers (SNCs), Outpatient Surgery Centers

Subsegments:
1) By F And B Spinal Cord Stimulation (Scs): Traditional Spinal Cord Stimulation, High-Frequency Spinal Cord Stimulation, Burst Spinal Cord Stimulation
2) By Deep Brain Stimulation (Dbs): Subthalamic Nucleus (Stn) Dbs, Globus Pallidus Internus (Gpi) Dbs, Ventral Intermediate Nucleus (Vim) Dbs
3) By Vagus Nerve Stimulation (Vns): Implantable Vagus Nerve Stimulators, Non-Invasive Vagus Nerve Stimulators

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Where Is the Neural Implants Market Growth Most Prominent?
North America was the largest region in the neural implants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neural implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Neural Implants Global Market Report?

- Market Size Analysis: Analyze the Neural Implants Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Neural Implants Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Neural Implants Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Neural Implants Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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