Brain Implants Market Analysis

Brain Implants Market Analysis

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Based on type, the brain implants market is segmented into deep brain stimulators, spinal cord stimulators, vagus nerve stimulators. The deep brain stimulators segment witnessed the largest revenue size over USD 1 billion in 2022 and is estimated to witness significant development more than USD 4 billion by 2032. Deep brain stimulators (DBS) are a type of brain implant that uses electrical stimulation to modulate neural activity in specific regions of the brain. One of the key factors driving this segmental evolution is the increasing use of deep brain stimulators to treat a variety of neurological illnesses, such as obsessive-compulsive disorder, epilepsy, Parkinson's disease, essential tremor, dystonia, and Alzheimer's disease.
 

Based on application brain implants market is bifurcated into chronic pain, epilepsy, Parkinson’s disease, depression, essential tremor, Alzheimer’s Disease. The chronic pain segment is anticipated to grow over USD 6 billion by 2032. Increase in the frequency of chronic pain has initiated clinical urgency for incorporating long-term solutions. Brain implants for chronic pain are primarily used for specific conditions that have neuropathic components, such as failed back surgery syndrome, complex regional pain syndrome (CRPS), or phantom limb pain. These conditions involve altered neural signalling or nerve damage, making brain implants a potential option to modulate neural activity and reduce pain perception.
 

The brain implants market is segmented by end-use into hospitals, specialty clinics, and others. Hospitals segment dominated the industry accounting for more than 60% market share in 2022 and is estimated to witness USD 6 billion by 2032. Hospitals that offer brain implant procedures have specialized surgical facilities equipped with advanced imaging technology, such as MRI or CT scanners. These imaging tools help guide the placement of the implants precisely within the brain.
 

U.S. brain implants market accounted for more than USD 1 billion in 2022.The growth is majorly attributable to increase in the frequency of neurological disorders, the presence of highly skilled medical professionals, a better understanding of available treatments, and established healthcare facilities. Additionally, it is anticipated that increased government funding and campaigns to improve awareness of movement disorders. For instance, in 2020, the Parkinson's Foundation invested approximately USD 3.5 million to support over 34 Parkinson's disease research initiatives.