Growing Occurrences of Parkinson’s Disease to accelerate the Brain Implants Market, reaching US$ 18 Billion by the year 2032 at a scintillating CAGR of 12.6% in the forecast period 2022 to 32

The global brain implants market was worth US$ 5.7 Billion in the year 2022 and is expected to reach US$ 18 Billion by the year 2032 at a double-digit CAGR (12.6%) between 2022 and 2032.

Brain implants are inclusive of medical devices like deep brain stimulators, vagus nerve stimulators, and likewise. They do help in exercising control over patients contracting Parkinson’s disease. There are various neurological disorders making their way through humans these days.

Chronic pain dominates the brain implant market. This could be credited to the fact that this pain calls for clinical urgency to incorporate long-term solutions. Stimulators are used in cases when chronic back or neck pain hasn’t been relieved in spite of surgery or any other form of treatment. The causes of chronic pain include lumbar and cervical radiculitis, neuropathy, and failed back surgery.

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Neural chips help in stimulating actions in fingers and hands and also help in enhancements in vision with chips. The brain’s cortex is implanted through neural chips stimulating activities of the brain all through the body. If it’s brain damage, paralysis, or limb loss, sensors could be injected into the brain. While studying the brain through computers, scientists, at times, make use of chips for studying brain activity in several contests.

Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Brain Implants Market’. Its team of analysts and consultants is there to execute using a 360-degree approach in its primary, secondary, and tertiary modes of research.

“Technological advancements like 3D printing, motor neuron prostheses, brain-computer interfaces are expected to help with the growth of brain implants market”, says an analyst from Future Market Insights.

Key Takeaways from Brain Implants Market

• North America holds more than 40% of the market share. This could be attributed to growing incidences of neurological disorders and the presence of technologically advanced healthcare facilities in the US. Plus, excessive research is being conducted. For example – Parkinson’s Foundation, in 2020, did invest US$ 3.5 Million for funding over 34 research projects for Parkinson’s disease.
• The Asia-Pacific is expected to witness growth at a rapid pace in the brain implants market in the forecast period. This could be credited to the need to address brain-related disorders all across.
• Europe is expected to witness sizable growth in the brain implants market in the near future on the similar grounds as the Asia-Pacific.

Competitive Brain Implants

• The US FDA, in February 2021, did approve gammaCore – one of the vagus nerve stimulation devices for treating migraine in the adolescents aged from 12 to 17.
• NeuroPace, Inc. has its funding closed at US$ 74 Million. The initiation could be credited to KCK Groups and OrbiMed Advisors. The funding is expected to extend support to the organization’s ongoing efforts for quick commercialization and expansion of NeuroPace RNS system (US FDA-approved DBS product).
• Jude Medical (Abbott) has its brain implants by flooring neural chips since the year 2017.
• Medtronic plc, in June 2021, did receive approval from the US FDA for SenSight Directional Lead System used to facilitate brain stimulation therapy.
• Abbott, in March 2021, did announce launching NeuroSphere Virtual Clinic. The deep brain stimulation patients could, as such, get their devices programmed and reset them remotely, that too, from homes.
• Aleva Neurotherapeutics, in December 2019, did receive CE mark for Deep brain Stimulation Devices and also raised US$ 8 Million in private equity funding. The company’s ground-breaking DBS system makes use of directional electrode technology and is intended to be accurate as well as efficient with customized stimulation.

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What does the Report implant?

• The research study is based on product type (deep brain stimulator, spinal cord stimulator, and vagus nerve stimulator), and by application (brain implant for chronic pain, brain implant for epilepsy, deep brain simulation for Parkinson’s disease, brain implant for depression, brain implant for essential tremor, and brain implant for Alzheimer’s Disease).
• Rise in cranial abnormalities is expected to grow on a stellar note in the forecast period.

Brain Implants Market Segmentation

By Product Type:

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

By Application:

• Brain Implant for Chronic Pain
• Brain Implant for Epilepsy
• Deep Brain Simulation for Parkinson’s Disease
• Brain Implant for Depression
• Brain Implant for Essential tremor
• Brain Implant for Alzheimer’s Disease

By Region:

• North America
• Latin America
• Europe
• APAC
• MEA

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Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

Click Here for Brain Implants Market 250 pages TOC Report

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