MarketResearch.biz announces publication of its most recently generated research report titled, “Global Brain Implants Market by Product Type (Deep Brain Stimulator, Spinal Cord Stimulator, and Vagus Nerve Stimulator), by Application (Chronic Pain, Epilepsy, Parkinson’s Disease, Depression, and Essential Tremor) and Region/ Country (North America, Europe, China, Japan, Middle East & Africa, India, and South America). “Global Brain Implants Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2023.”, which offers a holistic view of the brain implants market through systematic segmentation that covers every aspect of the target market.
Global Brain Implants Market: Definition
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.
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.
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.
Furthermore, rising investment in R&D activities and increasing number of brain implant surgeries across the globe are other factors expected to support growth of the global brain implants market.
However, lack of advanced healthcare infrastructure and skilled healthcare professionals in emerging countries such as Nigeria are key factors expected to hamper growth of the global brain implants market. In addition, increasing incidences of weak transmission of signals post brain implantation is a challenging factor may limit growth of the global market to a certain extent.
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.
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.
The Global Brain Implants Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2018–2023 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global brain implants market for 2013–2023.