The Global Brain Implants Market Demand is expected to expand at a 12.3% CAGR to US$ 18 billion by 2032.
According to GLOBOCAN 2020 statistics, approximately 308,102 cases of brain and nervous system cancer were registered worldwide in 2020. Cranial anomalies manifest as trauma, malignant tumours, external decompression of intracranial pressure, and congenital malformations. The rise in such disorders has opened up new opportunities for brain implant market participants, which may be helpful to the technology’s continued development and use.
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What Could be the most Serious Issue with Brain Implantation In The Future?
Americans are significantly more inclined to express misgivings about implanting computer chips in human brains than enthusiasm. Manufacturers of brain implant chips are also working hard to create more technologically advanced options. And about twice as many of them do not believe they would be willing to employ this technology as do.
Furthermore, individuals in the United States are more inclined to consider this form of technology to be morally undesirable, with many remaining unsure about the moral consequences. Religious institutions’ attitudes on this technology vary greatly. Americans who are deeply religious, including those who believe in gene editing, are more inclined to regard such technology as “meddling with nature.”
Region-Wise Insights:
Which Region is projected to Offer the Largest Brain Implants Market Opportunity?
During the forecast period, the North American Brain Implants Market is expected to be the major market for Brain Implants. According to Alzheimer’s Disease Facts and Figures, as the number of older persons in the United States grows, so will the number of new and ongoing instances of Alzheimer’s.
Without medical advances to prevent, halt, or cure Alzheimer’s disease, the number of individuals aged 65 and older living with the condition is predicted to climb to 12.7 million by 2050.
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Recent Developments:
- In April 2022, the FDA approved brain stimulation software for use in Parkinson’s disease. Vercise Neural Navigator with Stimview XT will allow clinicians to visualize the lead placement and stimulation modelling, and is designed to provide patient-specific 3D modeling for therapeutic customization. The software is intended to aid in the placement of leads, minimise programming time, and allow for more informed treatment.
- In June 2021, Medtronic plc received FDA approval for its SenSight Directional Lead System, which is used for deep brain stimulation therapy.
- In March 2021, Abbott announced the launch of NeuroSphere Virtual Clinic. Deep brain stimulation patients can get programmed their devices and reset them remotely, from the comfort of their own homes, without travelling to a specialist, owing to a newly launched FDA-approved tool.
Key Companies Profiled:
- Abbott Laboratories
- Medtronic PLC
- NeuroPace Incorporation
- Nevro Corporation
- Aleva Neurotherapeutics SA
- Synapse Biomedical Incorporation
- Boston Scientific Corporation
- Sapiens Neuro
- Edwards Lifesciences Corporation
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Brain Implants Market Segmentation:
By Product Type:
- Deep Brain Stimulator
- Spinal Cord Stimulator
- Vagus Nerve Stimulator
By Application:
- Brain Implant for Chronic Pain
- Brain Implant for Epilepsy
- Deep Brain Simulation for Parkinson’s Disease
- Brain Implant for Depression
- Brain Implant for Essential tremor
- Brain Implant for Alzheimer’s Disease
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