Brain Implants Market to Grow at a Significant Rate during the Forecast Period
Growing adoption of brain implants to get quick relief from chronic pain, resulting in the high growth of the Global Brain Implants Market by 2026.
According to
TechSci Research report, “Global Brain
Implants Market By Product Type (Deep Brain Stimulators, Spinal Cord
Stimulators, Vagus Nerve Stimulators) By Application (Chronic Pain, Epilepsy,
Parkinson’s Disease, Depression, Essential Tremor, Alzheimer’s Disease) By End
User (Hospitals & Clinics, Ambulatory Surgery Centers, Others) By Region,
Competition Forecast & Opportunities, 2026”, the Global Brain
Implants Market is expected to grow at a promising rate during the forecast
period. Neural diseases are increasing at an alarming rate and the treatments
earlier involved dealing with immense physical chronic pain. Introduction of
the technologically advanced brain implants has influenced the treatment
procedure and recovery rate of the patients. The increasing inclination towards
the available better treatment is supporting the growth of global brain
implants market.
Due to the onset
of COVID-19 and imposition of complete lockdown to mitigate the coronavirus,
there has been shutdown of many manufacturing units and disruption in the
supply chain resulting in interrupted production and lesser supply of the
implants all around the globe. Also, the economy has been adversely affected in
many countries resulting in the hinderance to the growth of the Brain Implants market.
However, after relief from lockdown, market is again going to pick up pace to
grow significantly.
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The global brain
implants market is categorized by product type, application, end user, and
region. Based on product type, the market is categorized as deep brain
stimulators, spinal cord stimulators, vagus nerve stimulators. Whereas
sub-segments are categorized on the basis of application such as chronic pain,
epilepsy, Parkinson’s disease, depression, essential tremor, Alzheimer’s
disease. Patients with the requirements of brain implants can pursue the sales
through the end users of the market, that is through hospitals & clinics,
ambulatory surgery centers, others.
Some of the
major competitors in the market are Medtronic Plc., Boston Scientific
Corporation, St. Jude Medical, Inc. (Abbott), Synapse Biomedical Inc, Nevro
Corporation, NDI Medical LLC, Terumo Corporation, Edwards Lifesciences
Corporation, NeuroPace, Inc., LivaNova PLC, Synchron Inc., Functional
Neuromodulation Ltd., Beijing PINS Medical Co. Ltd, Renishaw Plc, Aleva
Neurotherapeutics SA. The companies are focusing on extensive research and development
activities to stay competitive in the market. Other competitive strategies
include formation of alliances and partnerships.
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“The deep brain stimulators segment is expected to dominate the market
for brain implants during the forecast period as it finds application in
treatment of neurological disorders such as obsessive-compulsive disorder,
Parkinson’s diseases, dystonia, essential tremor, epilepsy, and Alzheimer’s
disease. Growing awareness
about neurological movement disorder treatment among patients is anticipated to
trigger the growth of this market.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Brain Implants
Market By Product Type (Deep Brain Stimulators, Spinal Cord Stimulators, Vagus
Nerve Stimulators) By Application (Chronic Pain, Epilepsy, Parkinson’s Disease,
Depression, Essential Tremor, Alzheimer’s Disease) By End User (Hospitals &
Clinics, Ambulatory Surgery Centers, Others) By Region, Competition Forecast
& Opportunities, 2026”, has evaluated the future growth potential of global brain
implants and provides statistics & information on market size, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Brain Implants.
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