Brain Implants Market Outlook
Brain implants, also called neural implants, are medical devices that are placed intracranially by surgical means to predict brain activity patterns or to stimulate activity in the brain. The global brain implants market was valued at USD 1.36 Bn in 2017 and is expected to expand at a CAGR of 11.10% over the forecast period of 2018-2023, asserts Market Research Future (MRFR) in a detailed research report. The global brain implants market is on an upward growth trajectory and is expected to attain a valuation of USD 8.29 Bn by the end of 2023.
The surge in the prevalence of neurological disorders such as Parkinson’s disease, Alzheimer’s disease, epilepsy, and others has induced high demand for brain implants, since these implants are treatment-assistive and alleviate the need for drugs.
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Thermo Fisher Scientific Inc., bioMérieux SA, FOCUS Laboratories, Inc., Gibraltar Laboratories, Rapid Micro Biosystems, Inc., Dickinson and Company, Eurofins Scientific, Sartorius AG, Becton, Merck KGaA, and Charles River are the notable players in the global brain implants market.
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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The global brain implants market has been segmented based on product, application, and end users.
By product, the global brain implants market has been segmented into deep brain stimulator, spinal cord stimulator, and vagus nerve stimulator. Product-wise, the spinal cord stimulator segment is the largest segment, while the deep brain stimulator segment is projected to be the fastest growing segment.
By application, the global brain implants market has been segmented into chronic pain, epilepsy, Parkinson’s disease, depression, essential tremor, and Alzheimer’s disease. Application-wise, the Parkinson’s disease segment accounts for the largest share of the market while the depression segment is poised to be the fastest growing segment.
By end-users, the global brain implants market has been segmented into hospitals, clinics, and ambulatory services. Clinics segment dominates the market while the hospitals segment is expected to grow at the fastest rate.
Jan 2019 A new, smart implant that “listens” to brain signals is being poised as a potential measure to help treat epilepsy and other neurological conditions, such as Parkinson’s disease. The device is being developed by specialists from the University of California (UC), Berkeley who have made a new, sophisticated neurostimulator that can achieve this feat may help in treating Parkinson’s, epilepsy, and other conditions.
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The market contenders find themselves in a favorable position with the ability to manage the pace of change. The market trends hint at favorable development of the products that can bring in novelty to the product range and address the customer need better. The market also shows potential for demonstrating a greater comparative or differential value. The presence of a productive entity is expected to generate more sales or superior margins compared to its market rivals. The advent of new technology has boosted the growth potential of the market. Substantial cutbacks in administrative finances are bringing further development to the market. The development of a strong value chain is moreover motivating the expansion of the market.
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