The existing & emerging competitors with HF10 neuromodulation system development is expected to fuel the brain implants market growth in the future.
According to the latest Arizton's market research report, the global neural implants market size to cross USD 7.2 billion by 2025, growing at a CAGR of 11% during the forecast period.
Brain Implants Market Growth
Neurological disorders are increasingly becoming a major cause of disability and second-leading cause of deaths worldwide. The rising burden of various neural disorders is a major contributing factor for the uptake of neurostimulator including neural implants thereby, contributing to the growth of the brain implants market. Owing to the significant benefits of HF10 therapy, market players are developing paresthesia-free neural implants which in turn, is accelerating the growth of the brain implants market. The existing & emerging competitors with HF10 neuromodulation system development is expected to fuel the brain implants market growth in the future.
New Product Approval in Brain Implants Market
Vendors in the brain implants market are strategically focusing on the development and commercial launches of neural implant devices for the treatment of several neurological disorders. Vendors are actively engaged in R&D activities and are planning to launch advanced products in the coming years. Leading players such as Medtronic, Abbott, Boston Scientific, and other prominent players are continuously involved in product innovations and launches.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by end-users, product, application, and geography
- Competitive Landscape – 5 Key Company Profiles, 8 Other Prominent Vendors and 5 Investigational companies
Brain Implants Market – Geographic Analysis
North America is witnessing growth of neural implants due to increasing incidence of PD, chronic pain, epilepsy, and other conditions such as obesity, depression, and surge in surgical procedures for treating such diseases. The availability of advanced healthcare infrastructure, constant technological innovations, and growing acceptance for technologically advanced neural implants are further accelerating the brain implants market growth in the region. In Europe, the rising awareness of ambulatory neural implant devices for neurological disorders coupled with improved healthcare infrastructure, various favorable guidelines, and availability of technologically advanced solutions are driving the growth in the brain implants market.
The brain implants market is highly consolidated with major vendors accounting for dominant shares. The vendors are competing based on technology upgradation, accuracy features, regulatory approvals, marketing strategies, and distribution channels in the brain implants market. Vendors, especially global players are increasingly focusing on pursuing inorganic growth strategies such as product innovations launching and emerging companies to expand their presence, enhance product portfolio, and improve expertise in the brain implants market. The major players in the brain implants market including Aleva Neurotherapeutics, Beijing PINS Medical, NeuroPace, Nuvectra, and others are competing by offering technologically advanced neural implants.
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