The
global Brain Implants Market size is anticipated to
reach USD 8.29 billion by 2025, according to a new report by Grand View
Research, Inc., rising at a CAGR of 11.9% during the forecast period. Mounting
cases of neurological disorders such as Parkinson’s, Alzheimer’s, epilepsy,
depression, and tremors are contributing to market growth.
Growing
incidence of Parkinson’s disease is boosting the demand for brain implants.
These implants help in improving body movement and reduce the need for drugs.
According to statistics presented by Parkinson’s News Today, about 10 million
people suffer from this disease globally. Cases of epilepsy are also increasing
due to brain injuries, stroke, and unhealthy lifestyle. As per statistics by
Forbes, nearly 3 million people were affected with epilepsy in U.S. in 2017.
Demand for vagus nerve stimulators is on a sharp rise owing to its treatment
benefits for epilepsy.
In
addition, factors such as technological advancements in brain implants, along
with rising disposable income in developed countries, are propelling market
growth. The market is expected to witness lucrative growth over the coming
years as a consequence of increasing number of research activities leading to
technological breakthroughs. These include self-charging implants and memory
chips, which are estimated to unfold tremendous growth opportunities over the
forecast period.
Browse
Details of Report @ https://www.grandviewresearch.com/industry-analysis/brain-implants-market
Further key findings from the study suggest:
- In 2016, the
deep brain stimulator segment was identified as the largest, accounting
for over 37.0% of the overall market revenue. The product is projected to
maintain its position over the forecast period due to rising incidence of
Parkinson’s disease
- The
Parkinson’s disease segment is poised to expand at the fastest growth rate
in terms of revenue during the same period owing to factors such as drop
in smoking rate and coffee consumption, particularly in developed
countries
- Demand for
brain implants will remain the highest for treatment of chronic pains
throughout the forecast period, representing approximately 58.0% of the
overall market revenue by 2025
- The Asia
Pacific brain implants market is likely to exhibit the highest CAGR of
over 13.0% over the same period, owing to rising healthcare spending and
disposable income of the populace in countries such as Japan and China
- Boston
Scientific; Medtronic; St. Jude Medical; Nevro Corporation; NeuroPace
Inc.; and NDI Medical LLC are some of the key players in the brain
implants market.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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