Brain Implants Market (By Product: Deep Brain Stimulator, Spinal Cord Stimulator, Vagus Nerve Stimulator; By End-User: Hospitals, Specialty Clinics, Others; By Application: Chronic Pain, Epilepsy, Parkinson’s Disease, Depression, Essential Tremor, Alzheimer’s Disease) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

The global brain implants market is expected to grow at a CAGR of around 9.2% from 2020 to 2027 and expected to reach the market value of around US$ 7,895.4 Mn by 2027.

A group of KIAST researchers collaborated and defined a brain implant as a wirelessly recharged from outside the body device that controls brain circuits for an extended period of time without the need for battery replacement. The device is built with ultra-soft and bio-compliant polymers to ensure long-term compatibility with tissue. It can wirelessly manipulate target neurons in the deep brain using light thanks to micrometer-sized LEDs (the size of a grain of salt) mounted on ultrathin probes (the thickness of a human hair). Current brain implants have limitations, which are addressed by the new wireless charging technology. Wireless implantable device technology has received a lot of attention in the global market because it is a better alternative to traditional tethered implants because it helps minimize stress and inflammation in freely moving animals during brain studies, which increases the device's lifetime. This powerful device eliminates the need for additional painful surgeries to replace the implant's exhausted battery, allowing for continuous chronic neuromodulation.

Technological advancements bolster the growth of global brain implant market

Brain implants also referred as "neuroprosthetics" are available for medical patients with specific conditions. According to Pew Research Center According to Pew Research Center data, seven-in-ten Americans are “very” (28%) or “somewhat” (41%) concerned about the possibility of technology that would allow an implanted computer chip in the brain to give healthy people an improved ability to concentrate, but only about a third are “very” (9%) or “somewhat” (25%) excited about it. People are also investing more time and money in personal technology, such as smart speakers, smart watches, wearable’s, and VR headsets. With wearable technology gaining traction in the global market, there has been a significant shift toward brain-computer interfaces (BCI).  BCIs have the potential to supercharge human intelligence, that also excites technologists and entrepreneurs.

Rising prevalence of neurological disorder foster the demand for brain implants market

Neurological disorders are increasingly being recognized as a leading cause of death and disability around the world. As per the research findings revealed by the Institute for Health Metrics and Evaluation Population Health Building/Hans Rosling Center (IHME), in 2016, globally, neurological disorders were the leading cause of DALYs that was 276 million constituting 95% and second leading cause of death that constitutes about 9.0 million. Age-standardized DALY rates were significantly higher in males than in females for the combined neurological disorders (male-to-female ratio 1.12 [1.05–1.20]), but migraine, multiple sclerosis, and tension-type headache were more common and caused more burden in females, with male-to-female ratios less than 0.7. As measured by the absolute number of DAILYs, the burden of neurological disorders continues to rise. As the population ages and the prevalence of major disabling neurological disorders rises, the government will face an increase in demand for neurological disorder treatment, rehabilitation, and support services. For instance, on June 2020, The Medical Research Future Fund (MRFF), announced US$21.8 Mn funding for supporting vital research in treatment of range of neurological disorders, involving Alzheimer’s disease, autism, and encephalitis.

What's new in brain implants market?

Researchers from Australia's national science agency, CSIRO, have created new implantable devices that use machine learning to help prevent seizures and monitor patients after brain surgery. Monitoring brain activity after surgery is especially important for the patient's recovery because seizures can occur on a regular basis, leading to the patient developing epilepsy. The researchers will now be able to use a US$ 1 Mn Australian Government grant awarded to Anatomic to develop a "smart helmet" that will monitor brain swelling in stroke and traumatic brain injury patients. This new method can wirelessly monitor brain activity indefinitely, allowing the patient to be more mobile, comfortable, and socially active.” The devices' machine learning was trained using data from Monash University, and it can detect even the smallest seizures before securely transferring the data from the helmet to the healthcare practitioner. The combination of brain swelling, surgery timing, and patient outcome data will allow for more research on the best time to perform a reconstructive cranioplasty to achieve the best patient outcome – research that will eventually influence future medical decisions." Furthermore, the development of these technologies was made possible by the CSIRO's Probing Biosystems Future Science Platform, which provided the initial funding for this cutting-edge research. The project also brought together cross-domain experts from across CSIRO, including energy and mineral resources researchers working on the micro batteries used in the implants.

Market Segmentation

The global brain implant market is segmented as product, application, and end-user. Product is segmented as deep brain stimulator, spinal cord stimulator, and vagus nerve stimulator. By application, the market is segmented as chronic pain, epilepsy, Parkinson’s disease, depression, essential tremor, and Alzheimer’s disease. By end-user, the market is segmented as hospitals, specialty clinics, and others

By product, deep brain stimulator segment will hold dominating market share in the forecast period. Rising adoption of DBS for the treatment of various neurological disorders that include obsessive-compulsive disorder, Parkinson’s diseases, dystonia, and essential tremor, epilepsy, and Alzheimer’s disease acts as a strong contributor for the growth of global brain implants market. Based on application, chronic pain segment is anticipated to record largest revenue share for the global brain implants market. Rising incidence of chronic pain has created clinical urgency for incorporating long-term solutions is one of the prominent factors that drive the global brain implant market.

Regional Overview

North America is expected to dominate the global brain implant market and maintain its lead throughout the forecast period. Some of the factors that have a positive impact on the global brain implants market include the availability of advanced medical devices, high funding approved for research and development, and consistent efforts by regulatory bodies to facilitate the launch of brain implants in the region. For records, in February 2019, US Food and Drug Administration (FDA) issued a draft guidance document pinpointing the regulatory approval procedure for implanted brain computer interface devices. Asia Pacific, on the other hand, is expected to have the fastest growing CAGR during the forecast period. Rising geriatric populations and disposable incomes in countries such as India and China are driving market growth in this region.

Competitive Landscape

The prominent players of the global brain implants market involve Medtronic plc, Boston Scientific Corporation, NeuroPace, Inc., Nevro Corporation, Synapse Biomedical Inc., ALEVA NEUROTHERAPEUTICS SA, Renishaw Plc, Abbott (St Jude Medical), and among others

Market Segmentation

Market by Product

Deep Brain Stimulator
Spinal Cord Stimulator
Vagus Nerve Stimulator

Market By Application

Chronic Pain
Epilepsy
Parkinson’s Disease
Depression
Essential Tremor
Alzheimer’s Disease

Market By End-User

Hospitals
Specialty Clinics
Others

Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa