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Brain Implant Market
The global brain implant market is driven by factors such as increase in prevalence of neurological disorders and rise in geriatric population.
PORTLAND, OREGON, UNITED STATES, May 26, 2023 /einpresswire.com / -- Allied Market Research published a report, titled, "brain implant market by Type (Deep Brain Stimulation and Vagus Nerve Stimulation), Application (Parkinson's Disease, Epilepsy, and Others), and End User (Hospitals, Neurology Clinics, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032." According to the report, the global Brain Implant Market Size was Valued at USD 1.4 billion in 2022 and is Projected to Garner USD 4.5 billion by 2032, registering a revenue CAGR of 12.2% from 2023 to 2032
The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
Increase in prevalence of neurological disorder, increase in initiatives by government and non-government organizations and technological advancement drive the growth of the global brain implant market. However, high cost of brain implant and operational challenges are hampering the market growth. On the contrary, the growing healthcare infrastructure and rise in adoption of advance technology by both healthcare professional and patients are expected to offer remunerative opportunities for expansion of the brain implant market during the forecast period.
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Top Brain Implants Companies
.Boston Scientific Corporation
.Aleva Neurotherapeutics SA
.Functional Neuromodulation, Ltd.
.Beijing Pins Medical Co., Ltd
.Sceneray Co., Ltd.
Brain Implants Market Segmentation: –
Based on type, the deep brain stimulation segment accounted for largest market share in 2022, accounting for more than two-thirds of the global brain implant market revenue, and is anticipated to register highest CAGR of 12.4% during forecast period. This is due to rise in number of people suffering from Parkinson's and tremors. In addition, implanted deep brain stimulation devices are effective in treating Parkinson's and tremors by sending electrical impulses to the brain to regulate abnormal brain activity that causes the symptoms of these movement disorders.
Based on application, the Parkinson's disease segment accounted for largest market share in 2022, accounting for around two-fifths of the global brain implant market revenue and is estimated to register highest CAGR of 12.6% during forecast period. The growth is attributed to a rise in prevalence of Parkinson's disease in adults and geriatric population.
Based on end user, the hospitals segment held the largest market share in 2022, accounting for more than two-thirds of the global brain implant market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The same segment is expected to manifest the highest CAGR of 12.5% from 2023 to 2032. This is due to an increase in patient admission in hospital and availability of trained medical staff in hospitals that help to provide better services to patients.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly three-fifths of the global brain implant market revenue and is estimated to retain its dominance from 2023 to 2032. This is due to an increase in target diseases such as Parkinson's & epilepsy, high availability of advanced brain implant, presence of well-developed healthcare infrastructure, and favorable reimbursement policies in healthcare systems. However, the Asia-Pacific region is expected to witness the fastest CAGR of 13.7% during forecast period, owing to upsurge in geriatric population, surge in prevalence of neurological diseases, and rise in awareness about advantage of brain implant such as long-term efficacy.
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
.Which are the driving factors responsible for the growth of market?
.Which are the roadblock factors of this market?
.What are the new opportunities, by which market will grow in coming years?
.What are the trends of this market?
.Which are main factors responsible for new product launch?
.How big is the global & regional market in terms of revenue, sales and production?
.How far will the market grow in forecast period in terms of revenue, sales and production?
.Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
.How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
.Which region has more opportunities?
By Region Outlook
. North America
(U.S., Canada, Mexico)
(Germany, France, UK, Italy, Spain, Rest of Europe)
(Japan, China, India, Rest of Asia-Pacific)
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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