ROCKVILLE, Md., United States, Sept. 5, 2022 (GLOBE NEWSWIRE) — According to a new industry analysis by market research and competitive intelligence provider Fact.MR, Global Brain Implant Market is currently valued at around US$6.6 billion and is projected to expand rapidly at a CAGR of 11% by 2027.

One of the major factors driving the market growth is the rising prevalence of neurological diseases such as Parkinson’s disease, Alzheimer’s disease, and epilepsy, as well as growing awareness of the benefits and fruitful research outcomes of brain implants.

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Additionally, a key market driver is the increasing rate of neurological disorders worldwide.

  • According to WHO, neurological disorders are one of the leading causes of death worldwide, accounting for 13.2% of deaths in wealthy countries and 16.8% in low- and middle-income countries. It also accounts for 6.3% of the global disease burden.

For this reason, there is now a clinical imperative to use long-term treatments such as deep brain stimulators and spinal cord stimulators. Also, stress and weight-induced grief have become commonplace worldwide, driving up sales of brain implants.

What makes the US a lucrative market for neural implant suppliers?

“Effective Outcomes of Neural Implant Treatment by Qualified Physicians and Increasing Cases of Alzheimer’s Disease”

The market for brain implants in the US is expected to expand rapidly. This is due to several factors, including the increasing prevalence of neurological diseases, high public awareness of available treatments, well-developed healthcare infrastructure, and the presence of morally correct doctors.

Brain implants are the most effective treatment for depression in the country, according to medical experts.

  • According to statistics provided by Alzheimer’s Disease Facts and Figures, the number of new and ongoing cases of Alzheimer’s disease is projected to increase with the number of older people in the United States.
  • Without medical advances to prevent, treat and cure Alzheimer’s disease, the number of people aged 65 and over with Alzheimer’s disease is projected to rise to 12.7 million by 2050.

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Major segments covered by brain implant industry research

  • By Product :
    • deep brain stimulator
    • spinal cord stimulator
    • vagus nerve stimulator
  • By application:
    • chronic pain
    • epilepsy
    • Parkinson’s disease
    • depression
    • essential tremor
    • Alzheimer’s disease
    • Obsessive-compulsive disorder
    • multiple sclerosis
    • dementia
  • By end user:
    • hospital
    • nerve center
    • Specialized clinic
    • others
  • By Region :
    • North America
    • latin america
    • Europe
    • east asia
    • South Asia/Oceania
    • MEAs

winning strategy

  • American neurotechnology startup Neuralink has become popular around the world after testing a new brain implant in Gertude, a pig.

Companies in the brain implant industry model the development of prototype computer chips that wirelessly transmit information about an animal’s neural activity to a display. These scientific studies are being conducted to find treatments for dementia and Parkinson’s disease.

As a result, advances in the neurotechnology industry are creating employment opportunities for scientists, professionals, and others. Experts are often skeptical in response to research demonstrations that encourage companies to make technical adjustments on the fly.

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key player in brain implant market

  • Medtronic Plc
  • Boston Scientific Corporation
  • St. Jude Medical (Abbott)
  • Synapse Biomedical Co., Ltd.
  • Nebro Corporation
  • NDI Medical LLC
  • Terumo Corporation
  • Edwards Life Science Corporation

important point brain implant Market research

  • Brain implant sales are expected to surge at a CAGR of 11% from 2022 to 2027.
  • The United States and China are projected to be lucrative markets for brain implants due to the presence of top companies and their respective government support for research and development to improve brain implant products.
  • Low-income patients cannot afford these costs, hence the high cost of brain implants, the involvement of highly qualified medical professionals, and the cutting-edge technologies and methodologies used in modern neurological practice. are some of the main barriers to market expansion.
  • Elon Musk’s revolutionary startup ‘Neuralink’ is expected to boom in the market.
  • Another key factor driving the demand for brain implants is the adoption of AI. Artificial intelligence technology is being used in brain implants with the interesting potential of visualizing thoughts.

expedition Fact.MR’s medical coverage

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Genetic testing service market -The genetic testing services market is expected to expand at a robust CAGR of 7.6% during the forecast period 2020-2025. The global market is expected to reach a value of USD 64.1 billion by the end of 2025.

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Orthopedic device market -The global orthopedic devices market is poised to grow at a moderate CAGR of 4.0% over the forecast period (2020-2026). This growth trajectory is attributed to the prevalence of a wide range of orthopedic diseases such as osteoarthritis, rheumatoid arthritis, fibromyalgia and juvenile arthritis. This is attributed to an aging population, lifestyle changes and an obesity epidemic.

immunoglobulin market -The neurology segment held the largest market share throughout the past period, accounting for nearly two-fifths of the global immunoglobulin market. This trend is expected to continue throughout the forecast period. The Immunology segment holds his second largest share of the global immunoglobulin market and is poised to capture more than 35% market share throughout the forecast period.

High Performance Liquid Chromatography (HPLC) Market – HPLC test is an advanced and expensive analytical technique, widely used in food processing and clinical diagnosis of diseases and disorders. It is used in the pharmaceutical industry for drug analysis, molecular separation and environmental control.

Medical holography market – The medical holography market was valued at USD 447.8 million in 2019 and is projected to reach a value pool of USD 3.5 billion by 2026, registering an impressive CAGR of 34.0% over the forecast period. I’m here. This is in response to the growing demand for medical holography his imaging.

Ophthalmology pharmaceutical market -The global ophthalmic drugs market will gain moderate traction during the forecast period (2020-2025), registering a CAGR of 4.2%. In recent years, the incidence of eye-related diseases has increased, especially in developing countries.

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