Brain Implants Market Size Report By Product (Deep Brain Stimulator, Vagus Nerve Stimulator), By Application (Chronic Pain, Parkinson’s, Epilepsy, Depression, Alzheimer’s), And Segment Forecasts, 2018 - 2025

Industry Outlook

The global brain implants market size was valued at USD 3.01 billion in 2016. Rising incidence of neurological disorders such as Parkinson’s, Alzheimer’s, epilepsy, depression, and essential tremors is one of the key trends contributing to the growth of the market. 

As per the statistics of WHO, in February 2016, about 50 million people were suffering from epilepsy. According to data shared by Parkinson’s News Today, each year, around 60,000 Americans are affected with Parkinson’s disease. In addition, growing geriatric population is stimulating market growth as aged people are more prone to neurological diseases. Furthermore, availability of technologically advanced and cost-efficient technology for the treatment is expected to augment the market over the forecast period. For instance, researchers developed a method to stimulate brain tissues electrically without opening the skull.

Furthermore, the market is estimated to witness lucrative growth in the coming years owing to increasing number of research activities leading to technological breakthroughs. These include self-charging implants and memory chips, which are anticipated to provide key players with growth opportunities in future. Moreover, smart neural chips facilitate wireless transmission of brain signals to fingers and hands with approximately 95% accuracy and this is projected to augment the demand for neural chips during the forecast period.

Product Insights

On the basis of product, the market is segmented into deep brain stimulator (DBS), spinal cord stimulator (SCS), and vagus nerve stimulator (VNS). The deep brain stimulator segment commanded the largest market share in 2016 due to its use in various applications. The product is anticipated to maintain its dominance throughout the forecast horizon due to rising incidence of Parkinson’s disease. Growing adoption of DBS for the treatment of various neurological disorders, including obsessive compulsive disorder (OCD), dystonia, essential tremor, epilepsy, and Alzheimer’s disease, is a key factor driving the growth of this segment.

Vagus nerve stimulator is poised to be the fastest growing segment during the forecast period due to growing incidence of epilepsy. Cases of epilepsy are rising due to brain injuries, stroke, and lifestyle. As per the findings of CDC, around 1.2% of the U.S. population in 2015 had active epilepsy.

Application Insights

On the basis of application, the global brain implants market has been segmented into chronic pain, epilepsy, Parkinson’s disease, depression, essential tremor, and Alzheimer’s disease. Stimulators are mainly used in cases where chronic neck or back pain has not been relieved despite surgery or other treatments. According to data published by Pain Doctor in 2017, every year, there are about 14,000 patients globally who use spinal cord implants. With increasing chronic pain due to conditions such as lumbar and cervical radiculitis, failed back surgery, complex regional pain syndrome, and neuropathy, the demand for stimulators is rising. Therefore, chronic pain accounted for the largest share in 2016.

Parkinson’s disease is likely to register the highest CAGR over the forecast period owing to decline in smoking rate and coffee consumption, particularly in developed countries, which may increase the incidence of the disease.

Regional Insights

North America dominated the market in 2016. High investment in R&D activities, domicile of a large number of prominent market players, and frequent product approvals are supplementing the growth of the regional market.

Asia Pacific is expected to witness lucrative growth over the forecast period owing to rising awareness among the population regarding availability of brain implants and growing healthcare expenditure in emerging economies such as China and India.

Brain Implants Market Share Insights

Boston Scientific; Medtronic; St. Jude Medical; Nevro Corporation; NeuroPace Inc.; and NDI Medical LLC are key players in the market. These players contribute majority of the market revenue. They are involved in adopting extensive growth strategies such as entering into alliances, increasing differentiation and diversification of product portfolio, and broadening marketing and distribution channels in an attempt to increase the outreach of their products.

For instance, in April 2015, Boston Scientific entered into an alliance with Brainlab AG to expand its DBS therapy product portfolio. This collaboration also led to intensive distribution of Brainlab’s surgical planning portfolio with Vercise DBS System in certain countries. Moreover, development of low cost products is leading to high competition among existing players.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented the brain implants market report on the basis of product, application and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • Deep brain stimulation

  • Spinal cord stimulation

  • Vagus nerve stimulation

• Application Outlook (Revenue, USD Million, 2014 - 2025)

  • Chronic pain

  • Epilepsy

  • Parkinson’s disease

  • Depression

  • Essential tremor

  • Alzheimer’s disease

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa (MEA)

    • South Africa