Global Brain Implants Market By Product Type (Deep Brain Stimulator, Spinal Cord Stimulator, and Vagus Nerve Stimulator), By Indication (Parkinson’s Disease, Epilepsy, Alzheimer’s Disease, and Others), By End-User, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

Brain Implants Market size is expected to be worth around USD 13.4 Billion by 2032 from USD 5.7 Billion in 2022, growing at a CAGR of 9.2% during the forecast period from 2023 to 2032.

Brain implants, or neural implants, are technological devices that connect directly to the biological subject brain, generally placed on the brain’s surface or attached to the brain’s cortex. Brain implants electrically stimulate, block, or record.

Brain implants are classified as clusters of various products indicated for usage in several disease management and surgery. Brain implants contain medical devices such as deep brain stimulators, spinal cord, and vagus nerve stimulators. Brain implants are used to treat the broken parts of the brain. Brain implants are aimed at individuals who suffer from brain injury or stroke.  Brain implants are also used to identify functions to record and learn neural activity.

Key Takeaways

• Market Growth Projection: The brain implants market is set to grow at a 9.2% CAGR, reaching $13.4 billion by 2032 from $5.7 billion in 2022.
• Neurological Disorders Drive Demand: Increasing cases of Alzheimer’s, depression, and epilepsy globally are fueling market growth.
• Cost Barrier: High costs associated with brain implants hinder market expansion.
• Product Leadership: Deep brain stimulators secured 38% market share in 2022, driven by their use in treating neurological disorders.
• Parkinson’s Preeminence: Parkinson’s disease accounts for 34.3% of market revenue share, due to the aging population.
• Hospital Dominance: Hospitals lead end-user segments, capturing the highest market share.
• R&D Opportunities: Research and development activities offer growth prospects, particularly with self-charging implants and memory chips.
• Regional Supremacy: North America leads with 43.8% market share, driven by neurological disease prevalence, while the Asia-Pacific region is poised for substantial growth.

Driving Factors

Rising Prevalence of Neurological Disorders to Drive the Brain Implants Market Growth

The rising prevalence of neurological diseases such as Alzheimer’s, depression, and epilepsy among all age groups across the world is a high-influence interpreting factor driving the market growth. Brain implants have undergone a massive transformation in current years with the arrival of novel technologies such as brain implants enabled with MRI safety, which Medtronic plc introduced. There is also a rise in the partnership and acquisitions associated with brain implants due to the rising demand to bring novel techniques to the market.  The increasing geriatric population is the primary factor driving the market growth. In addition, an increase in healthcare awareness propels the growth of the global brain implant market.

Restraining Factors

High-Price Related with Brain Implants is Anticipated to Hamper Market Growth

High-price related to brain implants is anticipated to hinder the market growth. In addition, the market is affected by the more extended adoption and developmental procedures of brain implants. Due to brain implants, there is a risk of stroke, infection, and speech or vision problems. The low adoption rates in developing and underdeveloped regions are the significant factors restraining market growth.

Product Type Analysis

Deep Brain Stimulator Segment to Witness Significant Growth

The global brain implant market is segmented into spinal cord stimulators, vagus nerve stimulators, and deep brain stimulators. The deep brain stimulator segment accounted for the highest market revenue share of 38% in 2022 due to its usage in several applications in neurological disorders. The increasing approval of deep brain stimulators for treating several neurological disorders, including Parkinson’s disease, epilepsy, Alzheimer’s disease, and essential tremor, is the primary factor for driving this segment.

Additionally, the increasing awareness about neurological disorders among patients is estimated to initiate the growth of this segment. The vagus nerve stimulator segment has been dominated during the historical period. It is estimated to hold the second-largest market share due to its applications in numerous disorders, such as obesity, migraines, and anxiety. It is mainly used to deliver electrical impulses to the vagus nerve. Additionally, product introduction with developed technology is improving the quality of therapy.

Indication Analysis

The Parkinson’s Disease Segment Dominates the Market Growth of the Brain Implants Market

Based on the indication, the global brain implant market is divided into Parkinson’s disease, Alzheimer’s disease, epilepsy, and others. The Parkinson’s disease segment dominated the maximum market revenue share of 34.3% in 2022 due to the rising geriatric population prone to conditions. According to the United Nations Department of Economic and Social Affairs, the world population is currently 7 billion, which is anticipated to rise to 9 billion by 2050, supporting segment growth over the forecast period. Parkinson’s disease is a progressive disorder that disturbs the nervous system and the body parts controlled by the nerves. The Alzheimer’s disease segment is anticipated to witness the fastest growth rate during the forecast period, due to the environmental and lifestyle factors and a combination of age-related brain changes.

End-User Analysis

The Hospitals Segment Holds the Highest Market Revenue Share During the Forecast Period

Based on end-user, the global brain implants market is classified into hospitals, specialty clinics, and others. Among these, the hospital’s segment dominated with the highest market share in 2022. Hospitals perform an occupational therapy review and swallowing assessment on patients. The specialty clinics segment is anticipated to grow at a CAGR of 8.3%.

Key Market Segments

By Product Type

• Deep Brain Stimulator
• Spinal Cord Stimulator
• Vagus Nerve Stimulator

By Indication

• Parkinson’s Disease
• Epilepsy
• Alzheimer’s Disease
• Other Indications

By End-User

• Hospitals
• Specialty Clinics
• Other End-Users

Growth Opportunities

Investments in R&D Activities Provide Significant Opportunities for the Market Growth

The market for brain implants is projected to observe profitable growth prospects due to the increasing number of R&D activities that result in technological developments. Self-charging implants and memory chips are expected to provide lucrative opportunities in the market. In addition, rising awareness and decreasing the cost of manufacturing brain implants by novel development are opportunities for the market players to raise target market growth.

Latest Trends

High Approval of Robot Assistance for the Brain Surgeries the Significant Trend in the Market

High approval of robot assistance for brain surgeries by professionals is one of the significant trends in the market. Various market players are introducing new products along with innovations and business policies. Significant progress has been made in developing more techniques for brain implants. Extensive support by the government for the R&D of brain implants is the major trend in the global brain implant market.

Regional Analysis

North America Dominates the Global Brain Implants Market During the Forecast Period

North America accounted for a significant brain implants market revenue share of 43.8% due to the factors such as the rise in the prevalence of neurological diseases, an increase in awareness about treatments, the accessibility of highly skilled professionals, and the presence of well-established healthcare facilities. Further, increased government spending and initiatives to increase awareness about movement disorders are anticipated to propel the regional need for brain implant equipment. On the other hand, the Asia-Pacific market is anticipated to hold the maximum revenue share during the forecast period due to the rise in awareness programs, treatment solutions, and rising affordability. In addition, rise efforts by neurosurgeons and neurology clinics to increase consciousness about brain implants are anticipated to provide significant factors for regional growth.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin Americ
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Emerging cost-effective and technically developed brain implants are the significant factor focus of the companies operating in the market. Market players are involved in comprehensive research to develop advanced brain implant technologies. Players such as Synapse Biomedical Inc. and NeuroPace, Inc. are developing innovative products. Products offered by these industries have an excellent price-performance proposition, are technologically developed, and have competitive functionality.

Some prominent key players in the brain implants market include Medtronic plc, Boston Scientific Corporation, Abbott, Nervo Corporation, Edwards Lifesciences Corporation, Thermo Fisher Scientific Inc., and other key players.

Market Key Players

• Medtronic plc
• Boston Scientific Corporation
• Abbott
• NeuroPace Inc.
• Synapse Biomedical Inc.
• Nervo Corporation
• Edwards Lifesciences Corporation
• Thermo Fisher Scientific Inc.
• Integrated DNA Technologies, Inc.
• Other Key Players

Recent Developments

• July 2022- Synchron showed the US’s first human-brain computer interface implant method. This process characterizes a foremost technological innovation for scalable brain-computer interface equipment.
• June 2021-Medtronic plc introduced that SenSight Directional Lead System, which was developed on behalf of deep brain stimulation therapy, acknowledged Food and Drug Administration approval.
• February 2021- The United State Food and Drug Administration accepted gammaCore, a vagus nerve stimulation device to treat migraine in youngsters aged 12 to 17.

Report Scope