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Brain Implants Global Market Report 2024
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Brain implants are highly advanced technological devices designed to interface directly with the human brain, often placed on its surface or attached to the cortex. Functioning as biomedical prostheses, they work to bypass areas in the brain that may have been compromised due to factors like strokes or head injuries. These implants serve various applications, including the treatment of conditions such as paralysis, speech impairments, and vision impairment. Their purpose is to restore or enhance neural functions, offering hope for individuals facing neurological challenges to regain lost functionalities or improve their quality of life.

The main products included in brain implants are deep brain stimulators, spinal cord stimulators, and vagus nerve stimulators. These are used for several applications, including chronic pain, epilepsy, Parkinson's disease, depression, essential tremor, and Alzheimer's disease, by various end-users, such as hospitals, neurology clinics, and others.

The brain implants market research report is one of a series of new reports from The Business Research Company that provides brain implants market statistics, including brain implants industry global market size, regional shares, competitors with a brain implants market share, detailed brain implants market segments, market trends and opportunities, and any further data you may need to thrive in the brain implants industry. This brain implants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The brain implants market size has grown rapidly in recent years. It will grow from $5.58 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth observed in the historical period can be attributed to several key factors. These include the increased prevalence of neurological disorders among the population, a rising aging demographic prone to such conditions, advancements in surgical techniques facilitating the development and utilization of brain implants, expanding applications of these devices in research initiatives, and a growing awareness and acceptance of this technology within medical communities and society at large. These elements collectively contributed to the growth and advancements in brain implant technologies during this period.

The brain implants market size is expected to see rapidly grown in the next few years. It will grow to $8.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. Anticipated growth in the forthcoming period is expected to stem from various factors. These include innovations in material science facilitating the development of more advanced brain implants, the emergence of new therapeutic applications for these devices, escalating investments in research and development initiatives, a rise in healthcare expenditure fostering technological advancements, and an increased focus on collaborations and partnerships within the industry.

The increasing prevalence of neurological diseases is anticipated to drive the growth of the brain implant market in the coming years. Neurological diseases cover a spectrum of medical conditions affecting the nervous system, including the brain, spinal cord, and peripheral nerves. Brain implants offer personalized control beyond traditional medications, allowing for neural activity modulation and symptom reduction. For instance, the World Health Organization's February 2023 report highlighted that epilepsy, a neurological disease, affects 5 million individuals globally annually. The surge in neurological conditions fuels the demand for brain implants, aiming to enhance patient well-being and functionality.

The expected surge in healthcare expenditure is poised to fuel the expansion of the brain implants market in the foreseeable future. Healthcare expenditure pertains to the total spending on healthcare-related goods and services within a healthcare system or economy. This expenditure is pivotal in backing the development and accessibility of brain implant technologies. For instance, the Canadian Institute for Health Information's November 2022 report noted a 0.8% rise in healthcare expenditure to $331 billion in 2022, compared to 7.6% in 2021. This escalating expenditure substantiates the growth momentum of the brain implants market.

Leading companies in the brain implants market prioritize the development of technologically advanced implants, integrating innovative therapies like Vagus Nerve Stimulation (VNS) Therapy to bolster market revenues. VNS Therapy, addressing drug-resistant epilepsy in adults and children, prevents and halts seizures effectively. For example, in February 2023, LivaNova PLC unveiled SenTiva DUO, an implantable pulse generator featuring a dual-pin header. This device allows existing VNS therapy recipients to access the latest technology without requiring lead revision. SenTiva DUO offers tailored therapy, optimal seizure control, and adherence to treatment protocols, catering to rapid heart rate fluctuations and logging relevant events.

Key players in the brain implants market are actively developing diverse implant technologies like brain-computer interface (BCI) implants, aimed at paralysis patients, to drive market growth. A BCI, or brain-machine interface (BMI), establishes direct communication between external devices and the brain. For instance, Neuralink, in September 2023, received approval to commence patient recruitment for its first human trial deploying brain implant technology for paralysis patients. The primary objective of this BCI is to enable individuals to control computer functions using their thoughts, showcasing promising advancements in implant technology.

In September 2023, Amber Therapeutics Ltd., a US-based medical technology company, acquired Bioinduction Ltd. for an undisclosed amount. Through this acquisition, Amber Therapeutics Ltd. can expand its product portfolio in the brain implant, deep-brain stimulation device, and brain pacemaker categories. Bioinduction Ltd. is a UK-based brain implant company offering brain implant solutions and manufactures deep-brain stimulation devices, and brain pacemakers.

Major companies operating in the brain implants market report are Abbott Laboratories, Medtronic Plc., GE HealthCare Technologies Inc., Boston Scientific Corporation, Nihon Kohden Corporation, LivaNova PLC, Renishaw PLC, Nevro Corporation, NeuroPace Inc., BrainGate, Synchron Inc., Blackrock Neurotech, MicroTransponder Inc., NeuroSigma Inc., Pixium Vision SA, Inbrain Neuroelectronics, Neuralink Corporation, NDI Medical PLC, Neurosoft Bioelectronics SA, Blackrock Microsystems LLC, Fisher Wallace Laboratories LLC, Functional Neuromodulation Inc., Stimwave LLC, Aleva Neurotherapeutics SA, Beijing PINS Medical Co. Ltd.

North America was the largest region in the brain implants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the brain implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the brain implants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The brain implant market consists of sales of implant devices, implantable electrodes, and neurostimulation devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Brain Implants Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on brain implants market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Where is the largest and fastest growing market for brain implants? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The brain implants market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

Scope

Markets Covered:

Table of Contents

1. Executive Summary

2. Brain Implants Market Characteristics

3. Brain Implants Market Trends And Strategies

4. Brain Implants Market - Macro Economic Scenario

5. Global Brain Implants Market Size and Growth

6. Brain Implants Market Segmentation

7. Brain Implants Market Regional And Country Analysis

8. Asia-Pacific Brain Implants Market

9. China Brain Implants Market

10. India Brain Implants Market

11. Japan Brain Implants Market

12. Australia Brain Implants Market

13. Indonesia Brain Implants Market

14. South Korea Brain Implants Market

15. Western Europe Brain Implants Market

16. UK Brain Implants Market

17. Germany Brain Implants Market

18. France Brain Implants Market

19. Italy Brain Implants Market

20. Spain Brain Implants Market

21. Eastern Europe Brain Implants Market

22. Russia Brain Implants Market

23. North America Brain Implants Market

24. USA Brain Implants Market

25. Canada Brain Implants Market

26. South America Brain Implants Market

27. Brazil Brain Implants Market

28. Middle East Brain Implants Market

29. Africa Brain Implants Market

30. Brain Implants Market Competitive Landscape And Company Profiles

31. Global Brain Implants Market Competitive Benchmarking

32. Global Brain Implants Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Brain Implants Market

34. Brain Implants Market Future Outlook and Potential Analysis

35. Appendix

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