Global Brain Implants Market is anticipated to touch the CAGR of 9.30% over the forecast period of 2017-2023, that is on Market Research Future in-depth study projects.
Aggressive development and innovation for novel and cost-efficient brain implants is expected to propel the market growth. Growing elderly population with neurological disorders and growing awareness about high-tech medical devices and implants drives the brain implants market growth.
Rising number of mergers and acquisitions majorly between technology companies and universities is projected to stimulate the growth of the brain implants market. Earlier, owing to lack of technology and its penetration, neurological disorders for a long time remained undetected, resulting in reduced time for treatment and risk to life.
- Pharmaceutical companies
- Contract research manufacturing organizations
- Research & development organizations
- Academic institutes
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Rapid innovation in healthcare systems has created lucrative opportunities in this untapped space. With effective treatment policies, integration of high-tech devices and tools, and low-cost treatment is poised to uphold the demand of healthcare industry, driving the growth of the global brain implants market
Top Key players
These are the leading players contributing with their product and services include Medtronic, Boston Scientific Corporation, Functional Neuromodulation Ltd, LivaNova PLC, Abbott, Nevro Corporation, NeuroPace Inc., Beijing PINS Medical Co. Ltd, Nuvectra Corporation, and Synchron Inc.
The global brain implant market is broadly segmented based on type, application, and end-users.
The type segments are classified as spinal cord stimulator, vagus nerve stimulator, and deep brain stimulator. Spinal cord stimulator segment held the largest market share.
By application, the global brain implant market is segmented as chronic pain, epilepsy, depression, Parkinson’s disease, essential tremor, and Alzheimer’s. Based on market value, chronic pain segment dominates in the application segment.
Based on end-user, the global brain implant market is bifurcated as hospitals & clinics and specialty centers.
5 Market Factor Analysis
5.1 Porter’s Five Forces Model
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
5.2.1 R&D And Designing
5.2.3 Distribution & Sales
5.2.4 Post-Sales Services
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The global brain implants market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas led the market and accounted for the largest share of the brain implants market in 2017 owing to the increasing prevalence of neurological diseases, aging population with neurological conditions, and rising expenditure for research & development by healthcare bodies and government.
Europe held a healthy share in the global brain implants market and is the second-largest market leader after the Americas, owing to the increasing neurological disease, rising geriatric population suffering from neurological ailments, and growing healthcare expenditure. For instance, according to the Alzheimer’s Disease International, in France, around 1.2 million had Alzheimer’s disease in 2015 and is estimated to reach 2.3 million by 2050.
Asia-Pacific is expected to have a sturdy growth rate during the forecast period owing to the huge patient pool afflicted with neurological diseases and government initiatives for healthcare reforms. According to Alzheimer’s Disease International, around 23 million people were affected with dementia in Asia-Pacific in 2015 and is projected to reach 71.0 million by 2050. India held a share of 18.6% in the Asia-Pacific brain implants market in 2017.
The Middle East & Africa is projected to register the least growth in the market due to factors such as limited adoption of implants and limited access and availability of treatment facilities.
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List of Tables
TABLE 1 PRIMARY INTERVIEWS
TABLE 2 GLOBAL BRAIN IMPLANTS MARKET, BY TYPE 2015-2023 (USD MILLION)
TABLE 3 GLOBAL BRAIN IMPLANTS MARKET FOR SPINAL CORD STIMULATOR, BY REGION, 2015–2023 (USD MILLION)
TABLE 4 GLOBAL BRAIN IMPLANTS MARKET FOR DEEP BRAIN STIMULATOR, BY REGION, 2015–2023 (USD MILLION)
TABLE 5 GLOBAL BRAIN IMPLANTS MARKET FOR VAGUS NERVE STIMULATOR, BY REGION, 2015–2023 (USD MILLION)
TABLE 6 GLOBAL BRAIN IMPLANTS MARKET, BY APPLICATION 2015-2023 (USD MILLION)
TABLE 7 GLOBAL BRAIN IMPLANTS MARKET FOR CHRONIC PAIN, BY REGION, 2015–2023 (USD MILLION)
TABLE 8 GLOBAL BRAIN IMPLANTS MARKET FOR EPILEPSY, BY REGION, 2015–2023 (USD MILLION)
TABLE 9 GLOBAL BRAIN IMPLANTS MARKET FOR PARKINSON’S DISEASE, BY REGION, 2015–2023 (USD MILLION)
…To be Continued.
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