Global Brain Implants Market

Brain Implants Market: Insights

Brain implantsor neural implants are devices that are surgically attached within the human body. The brain implants are attached to tissues that contain neurons, the implant interacts with these neurons in multiple ways. These implants allow researchers to record brain activity through neuron mapping. The implants are also capable of releasing an electric charge that can cause a change in neural activity. One of the earliest forms of using brain implants is for deep brain stimulation. Deep brain stimulation therapy involves using electrodes that are placed within the brain surgically that can stimulate the neurons and treat various brain disorders. The brain implants market is highly driven by the growing incidences of neurological diseases like epilepsy, Alzheimer’s disease, and Parkinson’s disease, among many others. The growing awareness of such diseases has also contributed to the increase in demand for brain implants. The growing positive results of using brain implants and extensive research work being carried out in this field have also positively contributed to the growth of the brain implants market. The World Health Organization estimations show that at least six percent of the global disease burden on healthcare systems is from neurological diseases. Neurological diseases are fatal and often chronic, neurological diseases account for over thirteen percent of the total deaths in developed nations. This number increases to sixteen percent in developing and underdeveloped nations. The high fatality rates of neurological diseases have resulted in the prevalence of solutions like spinal cord stimulators and deep brain stimulators. These solutions are permanent solutions that will be present within the body of the patient for as long as he lives. The growing incidences and awareness of depression rising from stress and obesity-related causes have resulted in extensive research being carried out for treatment procedures. Innovations in the brain implants field have resulted in new treatment procedures to treat depression using brain implants. The growing geriatric population across the world has seen an increase in the number of neurological diseases like Alzheimer’s and Parkinson’s diseases. The risk of contracting neurological diseases increases with age. Parkinson’s disease leaves the patients’ brains unable to release adequate amounts of dopamine, trouble walking, stiffness, and tremors. Technological advancements in brain implants have also contributed to the increased use of implants. Traditionally, brain implants left patients unable to undergo MRI scans which hampered diagnosis. With the invention of MRI-safe brain implants, patients with brain implants can undergo MRI scans. Along with MRI-safe brain implants, new types of brain implants like microelectrode arrays, motor neuron prostheses, and brain-computer interfaces have increased the advantages of brain implants. These devices can improve the mobility of patients suffering from neurological disorders that have rendered them with mobility-related disabilities. The market for brain implants has been heavily influenced by the innovations in brain implants and their increased efficiency in treating various neurological disorders. The brain implants market is hampered by the increasing need for minimally invasive surgeries and the risks involved in the surgical procedures involved in brain implant surgeries.

Brain Implants Market: By Product

Based on the various products, the brain implants market can be segmented into deep brain stimulator, spinal cord stimulator, and vagus nerve stimulator. The deep brain stimulators segment is expected to hold the dominant share of the market during the forecast period. Deep brain stimulators are used extensively in the treatment of various neurological disorders like Parkinson’s disease, essential tremors, Alzheimer’s disease, obsessive-compulsive disorders, and epilepsy, among other diseases. The growing awareness among the population about deep brain stimulators and the positive results from deep brain stimulators are the major drivers for the dominance of the deep brain stimulators segment. The vagus nerve stimulator is expected to register the fastest growth rate during the forecast period. Vagus nerve stimulators are used to send electrical impulses to stimulate the vagus nerve. Vagus nerve stimulators are used to treat diseases like obesity, fibromyalgia, tinnitus, migraines, and anxiety, among other diseases. Innovations in the vagus nerve stimulators that allow for non-invasive installations are expected to increase the demand for vagus nerve stimulators.

Brain Implants Market: By Application

Based on the various applications of brain implants, the brain implants market can be segmented into chronic pain, epilepsy, Parkinson's disease, depression, essential tremor, and Alzheimer's disease. The chronic pain segment is expected to hold the lion’s share of the market during the forecast period. The need for long-term solutions for treating chronic pains combined with the growing incidences of chronic disorders has contributed to the dominance of the chronic pain segment. Chronic pain disorders in the neck or back are often corrected through surgeries but in instances where the surgeries do not work, stimulators are used to treat chronic pain. The growing incidence of chronic pain from lumbar failed surgeries, and cervical radiculitis, among other diseases, is the major driver of this segment. Parkinson’s disease is expected to grow at the fastest rate during the forecast period. The growing geriatric population and innovations in brain implants are expected to increase the demand for brain implants to treat Parkinson’s disease.

Brain Implants Market: By Region

The North American region is expected to hold the dominant share of the market. The region has a large geriatric population. The United States alone is expected to have two million people above the age of 60 by 2050, this population was 500 million in 2015. The large expenditure on healthcare systems in the region combined with extensive research in the region are the major drivers of the brain implants segment in the region. The APAC region is expected to register the fastest growth rate during the forecast period. The growing prevalence of neurodegenerative diseases in the region and growing awareness of neurological disorders is expected to increase the demand for brain implants in the region.

Brain Implants Market: Share & Competitor Analysis

Medtronic, Boston Scientific Corporation, St. Jude Medical, NeuroPace, Synapse Biomedical, Nevro Corporation, and Aleva Neurotherapeutics, among others, are the major vendors competing in the brain implants market.

Please note: This is not an exhaustive list of companies profiled in the report.