Brain Implants Market Size

Brain Implants Market Size

Brain Implants Market size was valued at over USD 5.1 billion in 2023 and is projected to grow at a CAGR of 9% from 2024 to 2032. Brain implants, also known as neural implants or neuroprosthetics, are medical devices that are surgically implanted into the brain to restore or enhance brain function. These implants can interface with the brain's neural circuits to stimulate or record neural activity. The prevalence of neurological disorders has been on the rise in recent years.

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As the global population ages, the prevalence of neurological disorders, such as Alzheimer's disease, Parkinson's disease, and stroke, increases. Age is a significant risk factor for varied neurological conditions, and with longer life expectancies, more people are living to an age where they are more likely to be susceptible to these disorders. Thus, the growing prevalence of neurological disorders increases the demand for brain implants among the geriatric population base.

Furthermore, the rising demand for minimally invasive neurological procedures owing to the surge in the prevalence of neurological disorders. For instance, according to the World Health Organization (WHO), neurological illnesses are one of the leading causes of death worldwide, accounting for 13.2% of fatalities in affluent nations and 16.8% in low- and middle-income nations. Additionally, they also contribute 6.3% to the global disease burden. This has led to clinical urgency for the implementation of long-term solutions such as spinal cord stimulators and deep brain stimulators.