Brain Implants Market: Industry Status, Sales Outlook, Supply-Demand Analysis 2019-2028
Brain implant is known as neural implants can treat damage memory, traumatic brain injuries and other neurological disorders. The brain implants are placed on the surface of the brain and send electric signals to brain which records the electrical activity of nerve cells. The global brain implants market report has been segmented on the basis of product, application, and region.
Increasing prevalence of neurological disorders globally is expected to drive the market growth over the forecast period. Moreover, technological advancements and increasing number of product approvals is expected support the growth of global brain implant market over the forecast period. However, the safety regarding the product and high cost of developing brain implants can limit the market growth.
Product segment includes deep brain stimulation, spinal cord stimulation, vagus nerve stimulation. The deep brain stimulation segment contributed major market share and is expected to maintain its dominance over the forecast period owing to its applications in treatment of various neurological disorders.
Application segment includes epilepsy, Parkinson’s disease, depression, Alzheimer’s disease and others (essential tremor and chronic pain). The Parkinson’s disease segment is expected to witness rapid growth rate over the forecast period owing to increasing prevalence of disease globally.
Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. North America contributes major market share and expected to maintain its dominance over the forecast period owing to increasing prevalence of neurological disorders and presence of dominant players in the region. Asia Pacific region is expected to witness rapid growth rate over the forecast period. Countries like India, China is expected to support the growth of Asia Pacific owing to the increasing healthcare expenditure.
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Some prominent players in the global brain implants market are Boston Scientific Corporation, St Jude Medical, Inc., MEDTRONIC, Inc., Aleva Neurotherapeutics SA, Sapiens Neuro, NDI Medical Inc., NeuroPace Inc., and Nevro Corporation.
An Aim of Global Market report is as follows:
-To gives market insight across the world.
-To calculate and forecast the market on the basis of various segments.
-To provides market size and foreseen up to 2028 for overall market relevant to key regions.
-To study market dynamics influencing the market during the projection period 2019-2028 i.e. opportunities, risk, threats, drivers, restriction, and current/future trend.
-To offers broad SWOT analysis for all regions included in the report.
-To overview on major players performing in the industry along with their PESTEL study and market policies.