Brain Implants Market Size & Growth Analysis to 2030

The global brain implants market size is anticipated to register a significant CAGR of 9% during the forecast period 2021 to 2027 and valued at over USD 4.5 billion in 2020. The rising prevalence of Alzheimer’s disease and Parkinson’s disease around the world is a primary factor to drive the market growth. Furthermore, the increasing awareness regarding brain implants is expected to support the market growth positively. In addition, the advent of advanced technology introduced by Medtronic and Neurowave is anticipated to drive the market over the forecast period.

The neurological disorders have recorded significant growth in some previous years which has contributed to the market growth significantly. As per information shared by World Health Organization, neurological diseases are responsible for 13.2% of deaths in developed economies and it is recorded as 16.8% in low and middle-income countries. Moreover, stress and depression is increasing significantly around the globe, which is further expected to propel the market growth in next upcoming years. However, the side effects associated with the brain implants in the geriatric population such as memory loss and brain tissue damage are some major factors to restrain the market growth.

Market Drivers:

Increasing Prevalence of Neurological Disorders: The rising prevalence of neurological disorders, such as Parkinson’s disease, epilepsy, and chronic pain, is a significant driving factor for the brain implants market. Brain implants offer therapeutic solutions for managing these conditions by directly stimulating or modulating neural activity in specific regions of the brain.

Advancements in Brain Implant Technology: The field of brain implants has witnessed significant advancements in technology, including the development of smaller, more precise, and biocompatible implantable devices. These advancements have improved the safety, efficacy, and long-term performance of brain implants, driving their adoption and market growth.

Growing Aging Population: Neurological disorders are often associated with aging. As the global population continues to age, the incidence and prevalence of age-related neurological conditions increase. Brain implants provide a potential treatment option for managing symptoms and improving the quality of life for elderly individuals with neurological disorders.

Increasing Research and Development Activities: There is a growing emphasis on research and development activities in the field of brain implants. This includes the development of novel implantable devices, advancements in neural interfaces, and improvements in data analysis and interpretation techniques. The increasing investment in research and development contributes to the expansion of the brain implants market.

Rising Demand for Deep Brain Stimulation (DBS): Deep brain stimulation is a well-established application of brain implants. It involves the implantation of electrodes in specific brain regions to deliver electrical impulses and modulate neural activity. The increasing acceptance and demand for DBS as a treatment option for Parkinson’s disease, essential tremor, and other movement disorders drive the growth of the brain implants market.

Potential for Restoring Sensory or Motor Function: Brain implants hold the potential for restoring lost sensory or motor function in individuals with conditions such as paralysis, spinal cord injury, or limb loss. Research and development efforts are focused on developing brain-computer interfaces that can enable direct communication between the brain and external devices, offering the possibility of restoring mobility and independence. The promise of restoring function drives the interest in brain implants.

Technological Integration with AI and Machine Learning: The integration of brain implants with artificial intelligence (AI) and machine learning algorithms has the potential to enhance their functionality and performance. These technologies can help analyze neural data, optimize stimulation patterns, and provide real-time feedback, leading to more personalized and effective treatments. The convergence of brain implants with AI and machine learning drives innovation and market growth.

Increasing Acceptance and Awareness: Over time, there has been an increasing acceptance of brain implants as a viable treatment option for certain neurological disorders. Physicians, patients, and healthcare providers are becoming more aware of the benefits and potential of brain implants, leading to greater adoption and utilization.

Market Outlook:

Market Insights:

The global brain implants market is bifurcated into type, application, end-user, and geography. On the basis of type, the market is further segmented into deep brain stimulators, spinal cord stimulator, and vagus nerve stimulator. The deep brain stimulator segment is accounted to hold the largest market share over one-third percent of the market in 2020 and expected to grow at the same trend over the forecast period. The rising adoption of this stimulator to treat various neurological disorders such as Parkinson’s disease, Alzheimer’s disease, essential tumor, and others have contributed to the segment growth. in contrast, the vagus nerve stimulator segment is accounted to grow at the fastest growth rate over the forecast period.

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By application, the brain implants market is classified into chronic pain, epilepsy, Parkinson’s disease, depression, and others. The chronic pain segment is accounted to dominant the market in 2020 and held the largest market share around 60% of the market. The rising prevalence of chronic pain due to increasing medical conditions such as failed back surgery, lumbar and cervical radiculitis, and neuropathy is a major factor to drive the segment growth. On the other hand, Parkinson’s disease is anticipated to grow at the fastest growth rate over the forecast period due to rapid growth in the geriatric population around the globe.

The brain implants market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Type:

• Deep Brain Stimulator
• Spinal Cord Stimulator
• Vagus Nerve Stimulator

By Application:

• Chronic Pain
• Epilepsy
• Parkinson’s Disease
• Depression
• Essential Tremor
• Alzheimer’s Disease

By End-User:

• Hospitals
• Clinical Trials Centers
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, North America dominated the global brain implants market in 2020 and accounted to hold a major market share of over 40% of the market globally. The increasing incidence of neurological disorders and the growing awareness of the treatment, and the presence of the high skilled physician have contributed to the market growth in the region. Furthermore, the increasing government investment and initiatives for rising awareness regarding these disorders are anticipated to drive market growth in the region. In addition, the Asia Pacific is estimated to grow significantly over the forecast period due to the increasing incidence of neurodegenerative disorders and psychiatric disorders.

Market Competition Assessment:

Some of the major players operating in the global brain implants market are Medtronic, Boston Scientific Corporation, Nuvectra Corporation, St. Jude Medical (Abbott), NeuroPace, Inc., and Nevro Corporation. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Medtronic
• Boston Scientific Corporation
• Nuvectra Corporation
• Jude Medical (Abbott)
• NeuroPace, Inc.
• Nevro Corporation
• Synapse Biomedical Inc.
• Aleva Neurotherapeutics SA
• LivaNova PLC
• Beijing PINS Medical Co. Ltd.

Key Questions Answered by Brain Implants Market Report:

• Global brain implants market forecasts from 2021-2027
• Regional brain implants market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Brain implants submarket forecasts from 2021-2027 covering the market by type, by application, by end-user, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to brain implants market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level brain implants markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the brain implants market