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Brain Implants Market Trends

Report ID: GMI3855
Published Date: Jun 2023
Report Format: PDF

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Brain implants Market Trends

The market is anticipated to be driven by the introduction of cutting-edge technologies such as Medtronic's MRI-safe brain implants and Neurowave Medical Technologies' transdermal neuromodulation technology. Additionally, technology including brain computer interfaces (BCIs), microelectrode arrays, and motor neuron prosthesis have advantages in enhanced patient mobility profiles. For instance, smart neural microchips strengthen the wireless transfer of brain signals into hands and fingers with approximately 95% precision.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Brain implants industry size was over USD 5.1 billion in 2023 and is estimated to reach more than USD 10.9 billion by 2032 due to the high prevalence of neurological disorders worldwide.

The deep brain stimulators type segment exceeded USD 1 billion in 2022 and will record more than USD 4 billion by 2032 owing to the increasing patient awareness of neurological movement disorder treatment.

U.S. brain implants market size surpassed USD 1 billion in 2022 and is estimated to grow significantly by 2032 due to the strong presence of highly skilled medical professionals and established healthcare facilities in the region.

Boston Scientific Corporation, Abbott (ST. JUDE MEDICAL INC), Medtronic, Synchron Inc, Renishaw PLC, ALEVA NEUROTHERAPEUTICS SA, NEVRO CORP., Neuralink, LivaNova PLC, and MicroTransponder Inc, are some of the key brain implant companies.