Allied Market Research published a report, titled, โBrain Implant Market by Type (Deep Brain Stimulation and Vagus Nerve Stimulation), Application (Parkinsonโs Disease, Epilepsy, and Others), and End User (Hospitals, Neurology Clinics, and Others): Global Opportunity Analysis and Industry Forecast, 2023โ2032.โ According to the report, the global Brain Implant Market Size was Valued at USD 1.4 billion in 2022 and is Projected to Garner USD 4.5 billion by 2032, registering a revenue CAGR of 12.2% from 2023 to 2032
The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
What are the factors driving the Brain Implant Market?
Increase in prevalence of neurological disorder, increase in initiatives by government and non-government organizations and technological advancement drive the growth of the global brain implant market. However, high cost of brain implant and operational challenges are hampering the market growth. On the contrary, the growing healthcare infrastructure and rise in adoption of advance technology by both healthcare professional and patients are expected to offer remunerative opportunities for expansion of the brain implant market during the forecast period.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐ซ๐๐ฉ๐ก๐ฌ ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ ๐๐๐ซ๐:: https://www.alliedmarketresearch.com/request-sample/47926
๐๐จ๐ฉ ๐๐ซ๐๐ข๐ง ๐๐ฆ๐ฉ๐ฅ๐๐ง๐ญ๐ฌ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ
- Boston Scientific Corporation
- Medtronic Plc
- Livanova Plc
- Aleva Neurotherapeutics SA
- Neuropace, Inc.
- Functional Neuromodulation, Ltd.
- Beijing Pins Medical Co., Ltd
- Abbott Laboratories
- Sceneray Co., Ltd.
- Microtransponder Inc.
๐๐ซ๐๐ข๐ง ๐๐ฆ๐ฉ๐ฅ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง: โ
Based on type, the deep brain stimulation segment accounted for largest market share in 2022, accounting for more than two-thirds of the global brain implant market revenue, and is anticipated to register highest CAGR of 12.4% during forecast period. This is due to rise in number of people suffering from Parkinsonโs and tremors. In addition, implanted deep brain stimulation devices are effective in treating Parkinsonโs and tremors by sending electrical impulses to the brain to regulate abnormal brain activity that causes the symptoms of these movement disorders.
Based on application, the Parkinsonโs disease segment accounted for largest market share in 2022, accounting for around two-fifths of the global brain implant market revenue and is estimated to register highest CAGR of 12.6% during forecast period. The growth is attributed to a rise in prevalence of Parkinsonโs disease in adults and geriatric population.
Based on end user, the hospitals segment held the largest market share in 2022, accounting for more than two-thirds of the global brain implant market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The same segment is expected to manifest the highest CAGR of 12.5% from 2023 to 2032. This is due to an increase in patient admission in hospital and availability of trained medical staff in hospitals that help to provide better services to patients.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly three-fifths of the global brain implant market revenue and is estimated to retain its dominance from 2023 to 2032. This is due to an increase in target diseases such as Parkinsonโs & epilepsy, high availability of advanced brain implant, presence of well-developed healthcare infrastructure, and favorable reimbursement policies in healthcare systems. However, the Asia-Pacific region is expected to witness the fastest CAGR of 13.7% during forecast period, owing to upsurge in geriatric population, surge in prevalence of neurological diseases, and rise in awareness about advantage of brain implant such as long-term efficacy.
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are main factors responsible for new product launch?
- How big is the global & regional market in terms of revenue, sales and production?
- How far will the market grow in forecast period in terms of revenue, sales and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
- Which region has more opportunities?
By Region Outlook
โข North America
(U.S., Canada, Mexico)
โข Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
โข Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
โข LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of โMarket Research Reportsโ and โBusiness Intelligence Solutions.โ AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.