Brain Implants Market Size Estimated to Reach $8.6 Billion by 2027
Brain Implants Market size is estimated to reach $8.6 billion by 2027, growing at a CAGR of 9.1% during the forecast period 2022-2027. Brain Implants, frequently mentioned as neural implants, are technological devices that relate directly to the brain of a biological subject, normally positioned on the surface of the brain or fastened to the cortex of the brain. A Vagus nerve stimulator (VNS) is a device utilized to treat seizures when seizure medications are not efficient and surgery is not feasible. Vagus Nerve Stimulator includes a pacemaker-like generator that is implanted in the chest wall and is programmed by the physician to excite the vagus nerve in the neck. Spinal cord stimulation is a therapy that conceals pain signals prior to arriving at the brain. A tiny device, analogous to a pacemaker, is implanted in the body to convey electrical pulses to the spinal cord. It supports people in better handling their chronic pain symptoms and reduces the application of opioid medicines. Polycarbonate urethane and carbon nanofiber composites have activated neurite expansion at the time of in vitro investigations. These materials have encouraging tunable characteristics for neural implants like electrical, nanoscale structure and organization, and surface energy features. Deep brain stimulation (DBS) is an optional surgical process in which electrodes are implanted into specific brain areas. These electrodes, or leads, produce electrical impulses that regulate abnormal brain action. The electrical impulses can also accommodate the chemical disproportions inside the brain that bring about different conditions. The deep brain stimulator is a battery-operated, surgically-implanted instrument.
The expanding population of the elderly is set to drive the Brain Implants Market. The technological progress in devices resulting in the development of devices like implantable vagus nerve stimulators and the increasing predominance of movement and psychiatric ailments are set to propel the growth of the Brain Implants Market during the forecast period 2022-2027. This represents the Brain Implants Industry Outlook.
Brain Implants Market Segment Analysis – By Product Type:
The Brain Implants Market based on product type can be further segmented into Deep Brain Stimulator, Spinal Cord Stimulator, and Vagus Nerve Stimulator. The Deep Brain Stimulator Segment held the largest market share in 2021. This growth is owing to the increasing application of deep brain stimulators for neurological ailments. A deep brain stimulator is utilized to treat Obsessive Compulsive Disorder, Parkinson’s Disease, Dystonia, Essential Tremor, Epilepsy, and Alzheimer’s Disease. The surging awareness regarding the treatment of neurological movement disorder amidst patients is further propelling the growth of the Deep Brain Stimulator segment.
Furthermore, the Vagus Nerve Stimulator segment is estimated to grow with the fastest CAGR of 10.2% during the forecast period 2022-2027 owing to the soaring application of vagus nerve stimulator in the treatment of different ailments like anxiety, migraines, fibromyalgia, tinnitus, and obesity.
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Brain Implants Market Segment Analysis – By Application:
The Brain Implants Market based on the application can be further segmented into Chronic Pain, Epilepsy, Parkinson’s Disease, Depression, Essential Tremor, Alzheimer’s Disease, and Others. The Chronic Pain Segment held the largest market share in 2021. This growth is owing to the increasing predominance of chronic pain worldwide. Deep Brain Stimulator provides supportive results for the treatment of chronic pain, specifically when additional techniques have not worked like medicines, conservative measures, and extracranial processes. The surging application of stimulators for alleviation of chronic neck or back pain not alleviated by surgery or additional treatments is further propelling the growth of this segment.
Furthermore, the Parkinson’s Disease segment is estimated to grow with the fastest CAGR of 9.7% during the forecast period 2022-2027 owing to the surging population of the elderly who are susceptible to conditions like Parkinson’s Disease requiring efficient treatment options involving application of deep brain stimulator.
Brain Implants Market Segment Analysis – By Geography:
The Brain Implants Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Brain Implants Market) held the largest share with 36% of the overall market in 2021. The growth of this region is owing to the increasing pervasiveness of neurological ailments requiring the usage of deep brain stimulators in the region. The availability of greatly proficient specialists is further driving the growth of the Brain Implants Market in this region. The existence of well-developed healthcare facilities is further propelling the growth of the Brain Implants Market in the North American region.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the increasing predominance of neurological ailments requiring the application of deep brain stimulators in the Asia-Pacific region. The proliferating initiatives by neurosurgeons and neurology clinics to increase awareness regarding brain implants are further fueling the progress of the Brain Implants Market in the Asia-Pacific region.
Brain Implants Market Drivers
Surging Applications Of Spinal Cord Stimulation Are Projected To Drive The Growth Of Brain Implants Market:
Spinal cord stimulation is utilized most frequently consequent to nonsurgical pain treatment alternatives failing to offer adequate alleviation. Spinal cord stimulators need two processes to test and implant the instrument termed the trial and implementation. Spinal cord stimulation can enhance the complete quality of life and sleep and minimize the requirement for pain medications. It is normally utilized together with additional pain management treatments. Spinal cord stimulators include thin wires (the electrodes) and a tiny, pacemaker-like battery pack (the generator). The electrodes are positioned between the spinal cord and the vertebrae (the epidural space), and the generator is positioned under the skin, normally near the backside or abdomen. Spinal cord stimulators permit patients to send electrical impulses by utilizing a remote control when they feel pain. Both the remote control and its antenna are external to the body. The surging applications of spinal cord stimulation are therefore fuelling the growth of the Brain Implants Market during the forecast period 2022-2027.
Soaring Applications Of Deep Brain Stimulation Are Expected To Boost The Demand Of Brain Implants Market:
Deep brain stimulation (DBS) includes implanting electrodes inside some areas of the brain. These electrodes generate electrical impulses that control abnormal impulses. Or the electrical impulses can influence some cells and chemicals inside the brain. The quantity of stimulation in deep brain stimulation is regulated by a pacemaker-like device positioned under the skin in the upper chest. A wire that journeys under the skin links this instrument to the electrodes in the brain. Deep brain stimulation is typically utilized to treat a count of conditions, like Parkinson’s disease, Essential tremor, Dystonia, Epilepsy, and Obsessive-compulsive disorder. Deep brain stimulation is also being investigated as a possible treatment for Tourette syndrome, Huntington’s disease, and chorea, Chronic pain, and Cluster headache. The deep brain stimulator is a battery-operated, surgically-implanted instrument. It is occasionally termed a pacemaker for the brain. The soaring applications of deep brain stimulation are driving the growth of the Brain Implants Market during the forecast period 2022-2027.
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Brain Implants Market Challenges
Possible Misapplication Of Brain Implants Is Hampering The Growth Of The Brain Implants Market:
It is likely that not all applications of brain implants will lead to good consequences and numerous usages may not be regarded as ethical. As per the report by Daily Mail, brain implants presently utilized to treat Parkinson’s disease have the possibility to turn commercial and for firms to utilize them to rob the memories of people and intimidate them for money. As per their report, specialists think that there is the potential of recording and improving memories within five years, In a decade, it is probable that firms could purchase memory boosting implants and they could harvest and curb memories by 2038. There is potential for misuse and this is an issue that scientists and those in authorized roles will have to guard against and handle with care in the forthcoming years. The possible misapplication of brain implants is thus hampering the growth of the Brain Implants Market.
Brain Implants Market Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Brain Implants Market. Key companies of this market are:
Abbott (St. Jude Medical)
Boston Scientific Corporation
Medtronic PLC
NeuroPace Inc.
Renishaw PLC
LivaNova PLC
Nevro Corporation
Aleva Neurotherapeutics SA
NDI Medical LLC
Synchron Inc.
Recent Developments
In August 2021, NeuroPace, Inc., declared the wide introduction of its nSight Platform, an online portal that assists specialists in offering more personalized, data-driven epilepsy care by empowering them to remotely review patient progress, detect actionable insights, and record their clinic’s complete patient consequences. The RNS System® is the only FDA-endorsed epilepsy device that uninterruptedly supervises brain action, conveys personalized treatment by responding in real-time to a patient’s rare seizure action, and tracks intracranial EEG data that can assist specialists in optimizing patient results. As part of the nSight Platform offering, NeuroPace has teamed up with Seizure Tracker, one of the most extensively utilized electronic seizure diary apps, to assist patients and clinicians with more trustworthily recording and handling seizures.
In July 2021, it was reported that India Medtronic Private Limited, a completely owned subsidiary of Medtronic plc, declared the introduction of the Percept PC – Deep Brain Stimulation (DBS) system for patients with Parkinson’s disease, Essential tremor, Dystonia, and Epilepsy. The system empowered with BrainSense technology is planned to capture brain signals while concurrently transferring therapeutic stimulation, within and outside the clinic. Ergonomically planned, the Percept PC device provides improved comfort and is designated for patients with Parkinson’s disease, tremor, dystonia, and epilepsy.
In June 2020, Boston Scientific declared the U.S. introduction of the DIRECTSENSE™ Technology, a tool for supervising the consequence of radiofrequency (RF) energy distribution at the time of cardiac ablation processes. Accessible on the RHYTHMIA HDx™ Mapping System, the DIRECTSENSE Technology, which accepted U.S. Food and Drug Administration endorsement in April, is the only tool to supervise alterations in local impedance – electrical resistance – around the tip of the INTELLANAV™ MiFi Open-Irrigated (OI) ablation catheter, providing specialists an added measurement of therapy result at the time of ablation. Ablation is a treatment alternative for patients with cardiac arrhythmias in which specialists utilize a catheter to develop lesions and dismantle heart tissue that brings about abnormal rhythms.
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