Brain Implants Market is expected to reach US$ 17,647.65 million by 2030

Spinal Cord Stimulation Segment to Dominate Brain Implants Market, by Treatment, During 2022–2030

According to our new research study on "Brain Implants  Market Size and Forecast (2020–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis," the brain implants market size is expected to grow from US$ 7,205.80 million in 2022 and to reach a value of US$ 17,647.65 million by 2030; it is anticipated to record a CAGR of 11.8% from 2022 to 2030. The surging prevalence of neurological disorders with increasing geriatric population and the rising number of spinal cords injuries are the key factors driving the market growth. However, a high cost associated with brain implant devices and procedures hinders the brain implants market growth.

Companies operating in the brain implants market constantly focus on strategic developments such as product approvals, collaborations, expansions, agreements, and new product launches, which help them improve their sales, expand their geographic reach, and enhance their capacities to cater to a greater than existing customer base. A few of the noteworthy developments in the brain implants market are mentioned below:

Brain Implants  Market , by Region, 2022 (%)

Source: The Insight Partners Analysis

• In December 2022, Abbott launched the Eterna spinal cord stimulation (SCS) system, which is the smallest implantable, rechargeable SCS system available on the market for the treatment of chronic pain. The company’s portfolio of neuromodulation devices also includes Proclaim XR, the recharge-free SCS system, and Proclaim Plus featuring FlexBurst360.
• In June 2021, Medtronic launched the SenSight directional lead system used for DBS therapy. SenSight is the first directional, sensing-enabled lead launched in the US. This US FDA-approved system combines the advantages of directionality with sensing capabilities, allowing physicians to provide precise, patient-specific DBS treatment for movement disorders such as Parkinson's disease, dystonia, essential tremor, and epilepsy.
• In January 2021, the FDA approved Boston Scientific Corporation’s 4^th generation Vercise Genus DBS system, among other brain stimulation devices. These implantable devices transmit low-intensity electrical impulses to brain nerve regions by modifying pulse width, amplitude, and frequency. Vercise Genus System can be used to treat the symptoms of Parkinson's disease by delivering targeted electrical stimulation through surgically implanted leads in the brain, which are connected to an implantable pulse generator.
• In September 2020, Boston Scientific launched its WaveWriter Alpha portfolio of spinal cord stimulator (SCS) systems in Europe, along with additional customization options. SCS therapies provide pain relief by transmitting mild electric current pulses to the spinal cord to disrupt pain signals traversing to the brain. The WaveWriter Alpha SCS systems are indicated as an aid to manage chronic intractable pain.
• In May 2020, the University of Washington collaborated with Medtronic to accelerate research into DBS treatment for essential tremor, Parkinson’s disease, and other neurological disorders.

Brain implant manufacturers are taking steps to expand their operations around the world and launch their products in different regions, which is expected to boost the market penetration and accessibility of their offerings. Therefore, product introduction and strategic moves such as approvals, expansions, and acquisitions create significant growth opportunities in the brain implants market.

Boston Scientific Corp, Medtronic Plc, Functional Neuromodulation Ltd, Fisher Wallace Laboratories Inc., Synchron Inc., Blackrock Microsystems Inc, Renishaw Plc., Abbott Laboratories, Neurospine LLC, CorTec GmbH, BrainGate, Aleva Neurotherapeutics SA, NeuroSky Inc, Neuralink Corp, NeuroPace Inc., ONWARD Medical NV, and Paradromics Inc. are a few key companies operating in the brain implants market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name in the brain implants market.

For instance, in March 2023, Paradomics received Food and Drug Administration approval for Connexus Direct Data Interface. This will help the company to bring its device to the market. The Connexus DDI is an assistive communication device that converts brain signals into speech and movement in real-time.

The report segments the brain implants market as follows:

The brain implants market is segmented on the basis of treatment, application, end user, and geography. Based on treatment, the market is segmented into deep brain stimulation, spinal cord stimulator, vagus nerve stimulator, invasive and non-invasive brain–computer interfaces, responsive neurostimulation for seizures, auditory brainstem implant, and ophthalmic aids/implant. The brain implants market, by application, is categorized into chronic pain, Parkinson’s disease, Alzheimer’s disease, epilepsy, essential tremor, depression, dystonia, amyotrophic lateral sclerosis/stroke/spinal cord injury, and neurofibromatosis 2/total ossification of the cochlea. In terms of end user, the brain implants market is bifurcated into hospitals and specialized clinics/neurological centers. The brain implants market, based on geography, is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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