Press release
Neural Implants Market Set to Reach $8.8 Billion by 2029 with 10.2% Yearly Growth
Neural Implants Market
The growing prevalence of neurological disorders is expected to drive the neural implants market forward. Neurological disorders involve abnormalities in the nervous system, including the brain, spinal cord, and peripheral nerves. The increasing number of such conditions is influenced by factors like aging populations, genetic factors, and evolving diagnostic criteria. Neural implants, which interface directly with the nervous system, provide effective treatment for diseases such as Parkinson's, epilepsy, and spinal cord injuries. For example, in March 2022, the Alzheimer's Association reported that nearly 7 million Americans aged 65 and older were living with Alzheimer's disease, a figure projected to grow significantly by 2060. This growing prevalence of neurological conditions is contributing to the neural implants market's expansion.
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What is the projected compound annual growth rate (CAGR) of the neural implants market from 2025 to 2034, and what factors influence it?
The neural implants market has expanded rapidly, growing from $5.39 billion in 2024 to $5.96 billion in 2025 at a CAGR of 10.6%. Growth has been driven by improved healthcare facilities, an aging population, increased preference for minimally invasive procedures, demand for personalized treatment options, and enhanced healthcare infrastructure.
The neural implants market is expected to grow to $8.8 billion by 2029, at a CAGR of 10.2%, driven by the increasing prevalence of neurological disorders, awareness of new treatment options, and rising demand for MR-conditional brain implants. Trends include neuroprosthetic advancements, deep learning integration, and innovations in high-frequency neuromodulation therapy.
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How are the latest trends influencing the growth of the neural implants market?
Companies in the neural implant market are focusing on developing innovative deep brain stimulation (DBS) devices to treat movement disorders such as Parkinson's disease and essential tremors. For example, in January 2024, Abbott Laboratories, a US-based medical company, launched Liberta RC, the smallest rechargeable DBS device with remote programming. This device requires fewer recharges and is linked to Abbott's NeuroSphere virtual clinic, allowing users to remotely contact clinicians and receive updated treatment settings.
What are the major segments of the neural implants market and their role in driving growth?
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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Which geographical regions are pioneering growth in the neural implants market?
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.
Who are the key firms paving the way for growth in the neural implants market?
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
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What Is Covered In The Neural Implants Global Market Report?
•Market Size Forecast: Examine the neural implants market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the neural implants market for a structured understanding.
•Key Players Overview: Analyze major players in the neural implants market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the neural implants market.
•Segment Contributions: Evaluate how different segments drive overall growth in the neural implants market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the neural implants market.
•Industry Challenges: Identify potential risks and obstacles affecting the neural implants market.
•Competitive Landscape: Review strategic developments in the neural implants market, including expansions, agreements, and new product launches.
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