Brain Implants Market Reckoned A CAGR Value To Be 9.7% By 2028
New York City, NY: Sept 16, 2019 – Published via (Wired Release) – Brain implants referred to neural implants and are specific type of devices that are attached to the brain’s cortex or placed on the surface of the brain. The brain implants are implanted to collect brain responses during various activities perform by human.
The global brain implants market is expected to value at over US$ 3 Bn in 2019, and is expected to register a CAGR of 9.7%.
Global Brain Implants Market: Market Dynamics
Increasing preference for brain implant surgery among individuals in various neurological disorders such as epilepsy, chronic pain, depression, Parkinson’s disease, and essential tremor is a key factor expected to support growth of the global brain implants market. In addition, increasing age-related diseases and disorders among geriatric population across the globe resulting in growing requirement for brain implant surgery is another factor driving revenue growth of the target market.
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Growing awareness about advanced and efficient brain implant devices among healthcare professionals and rapid adoption of robot-assisted implantation procedure across the globe are other major factors expected to boost growth of the global market over the forecast period. In addition, rising adoption of neurostimulator devices such as spinal cord stimulator, vagus nerve stimulator, and deep brain stimulator among patients suffering from brain disorders is a key factor expected to support growth of the target market.
Increasing focus of manufacturers to develop innovative and advanced brain implant devices across the globe such as self-charging devices, smart chips for signal transmission to various body parts is a key factor expected to support growth of the global brain implants market in the next 10 years.
Global Brain Implants Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global brain implants market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global brain implants market is expected to register a CAGR of 9.7% during the forecast period.
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Global Brain Implants Market: Segment Snapshot
The market report has been segmented on the basis of product type, application, and region/country. The product type segment includes deep brain stimulator, spinal cord stimulator, and vagus nerve stimulator. The application segment includes chronic pain, epilepsy, Parkinson’s disease, depression, and essential tremor. The region/country includes North America, Europe, China, Japan, Middle East & Africa, India, and South America.
By Product Type: The vagus nerve stimulator segment is expected to register highest CAGR of over 10.9% over the forecast period in the global market.
By Application: The Parkinson’s disease segment is projected to account for highest revenue share as compared to other application segments, and register highest CAGR of over 10% over the forecast period.
By Region/Country: The market in North America is expected to register highest CAGR of over 10% in the global market.
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Global Brain Implants Market: Competitive Analysis
The research report on the global brain implants market includes profiles of some of the major companies such as Abbott Laboratories, Boston Scientific Corporation, Medtronic, Plc., Nevro Corp., Terumo Corporation, Aleva Neurotherapeutics SA, NDI Medical, LLC, LivaNova, PLC, NeuroPace, Inc., and Synchron, Inc.
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