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The latest research report on ‘global brain implants market’ is an analytical review of the current business landscape and its onward growth route over 2020-2027. Research experts have presented a detailed assessment of this domain, highlighting the major growth catalysts, restraints, and opportunities dictating the business dynamics.
May 05, 2021 06:00 ET | Source: Market Study Report, LLC. Selbyville, Delaware, May 05, 2021 (GLOBE NEWSWIRE) -- As per the findings of the research report, worldwide brain implants market size was valued USD 4.2 billion in 2019 and is projected to register an appreciable CAGR of 9.1% over the forecast period 2020-2027, subsequently accounting USD 8.4 billion by the end of the analysis period. Growing prevalence of neurological conditions like Parkinson’s disease and Alzheimer due to surge in geriatric population is primarily driving the industry growth.
Taking the analysis further, the research literature hosts a detailed evaluation of the key regions including North America, Latin America, Asia Pacific, and Europe. Moreover, the industry is studied from the perspective of product gamut and application spectrum to uncover the top revenue prospects for the upcoming. Lastly, in-depth profiles of the leading players, inclusive of their financials, and strategies are provided in the report.
Citing an instance, the number of Americans with Alzheimer's dementia reached approximately 5.8 million in 2019 and is estimated to grow to 14 million by the year 2050, claims the Alzheimer's Association. Moreover, the report of Global Burden of Disease 2015 cites that global burden of Parkinson's was nearly 6.2 million in 2015 and touted to reach 13 million by 2040, indicating a sustained demand in global brain implants industry throughout the forecast timeframe.
The advent of advanced technologies such as MRI safety enabled brain implants is further enhancing the industry outlook. On the contrary, high costs associated with the technology and procedure is likely to impede global brain implants market expansion over the forecast timeframe.
For the uninitiated, brain implants, also known as neural implants, are devices that are linked directly to the brain’s cortex mainly to record, reflex, cover up, and promote the five senses of the patient’s body. Several clinical trials are still underway in analysis of animal brain activity by using brain implant technology. Whereas, in humans, computer chips are increasingly being attached for brain analysis, such as electroencephalogram (EEG).
Clinical trials for brain implant devices on Parkinson's disease clinical depression have shown promising result as they encouraged brain functions and relaxed the patient’s mind, thereby reinforcing the prospects of adopting brain implants.
Geographical landscape overview
Key contributors to global brain implants industry value are North America, Latin America, Europe, and Asia Pacific. Industry experts cite that North America market will continue to showcase strong growth trends through 2027, largely attributable to high concentration of industry vendors, and increasing government support and funding aimed at raising awareness about neurological disorders.
Meanwhile, Asia Pacific industry size is slated to expand significantly in the upcoming years owing to rising burden of neurological ailments, particularly epilepsy and Parkinson’s disease, along with rapidly developing healthcare infrastructure in emerging nations like India and China.
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https://www.marketstudyreport.com/reports/global-brain-implants-market-size-research
Global Brain Implants Market Product Gamut (Revenue, USD Billion, 2017-2027)
Spinal Cord Stimulators
Deep Brain Stimulators
Vagus Nerve Stimulators
Global Brain Implants Market Application Spectrum (Revenue, USD Billion, 2017-2027)
Chronic Pain
Parkinson’s Disease
Epilepsy
Essential Tremor
Depression
Alzheimer’s Disease
Global Brain Implants Market Application Spectrum (Revenue, USD Billion, 2017-2027)
North America
United States
Canada
Europe
Germany
United Kingdom
Spain
France
Italy
Rest of Europe
Asia Pacific
India
China
Australia
Japan
South Korea
Rest of APAC
Latin America
Mexico
Brazil
Rest of the World
Global Brain Implants Market Company Profiles (Revenue, USD Billion, 2017-2027)
Edwards Lifesciences Corp.
Terumo Corporation
Cochlear Limited
Aleva Neurotherapeutics SA
Synapse Biomedical Inc.
NeuroPace Inc.
Nevro Corp.
Medtronic plc
Boston Scientific Corporation
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Brain Implants Market, by Region, 2018-2027 (USD Billion)
1.2.2. Brain Implants Market, by Product, 2018-2027 (USD Billion)
1.2.3. Brain Implants Market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Brain Implants Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Brain Implants Market Dynamics
3.1. Brain Implants Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Brain Implants Market: Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2017-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Brain Implants Market, by Product
5.1. Market Snapshot
5.2. Global Brain Implants Market by Product, Performance - Potential Analysis
5.3. Global Brain Implants Market Estimates & Forecasts by Product 2017-2027 (USD Billion)
5.4. Brain Implants Market, Sub Segment Analysis
5.4.1. Deep Brain Stimulators
5.4.2. Spinal Cord Stimulators
5.4.3. Vagus Nerve Stimulators
Chapter 6. Global Brain Implants Market, by Application
6.1. Market Snapshot
6.2. Global Brain Implants Market by Application, Performance - Potential Analysis
6.3. Global Brain Implants Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
6.4. Brain Implants Market, Sub Segment Analysis
6.4.1. Chronic Pain
6.4.2. Epilepsy
6.4.3. Parkinson's Disease
6.4.4. Depression
6.4.5. Essential Tremor
6.4.6. Alzheimer's Disease
Chapter 7. Global Brain Implants Market, Regional Analysis
Related Report:
Neurostimulation Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026
The neurostimulation devices market is set to witness promising growth over the forthcoming time period owing to the increasing prevalence of neurological disorders. Neurostimulation is known as an advanced treatment for decreasing specific types of chronic pain and is also used for improving the quality of life for people who are suffering from acute losses to sense organs or are paralyzed.
Neurostimulation devices are implantable devices delivering electrical stimulation to certain parts of the patient’s peripheral nervous system or spinal cord, brain for the treatment of numerous conditions which includes Parkinson's disease, epilepsy, movement disorders, and chronic pain. The device is meant for delivering mild electrical signals to the epidural space close to the spine via one or more thin wires, known as leads. From a regional frame of reference, Latin America neurostimulation devices market was valued at over $320 million in 2019. The growth is ascribed to rising awareness regarding the availability and benefits of neurostimulation devices for neurological disease management thereby driving the regional market growth.
Neurostimulation devices not only calm patients, but they also help them in avoiding the usage of pain killers, generally strong in nature, such as opiates. The neurostimulation devices market is also likely to witness robust growth owing to innovation and the use of new technologies in the medical field.
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Often these new bio technologies and technologies are tested on select and perceived vulnerable populations with altruistic pursuits. However, with alternate and profit motives. Can these chips truly do the altruistic things they suggests? How should this industry be regulated? What could be the drawbacks or dangers? Is the health care industry currently regulated enough with pharmaceutical and medical device manufactures consistently receiving fines during testing and development?
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