Brain implants also known as neural implants market is expected to grow over the forecast period owing to the increasing incidences of various neurological disorders especially Parkinson's disease. Under Parkinson's disease dopamine-generating cells of central nervous system are damaged and these cells lose their ability to recover or regenerate, thereby leading to dysfunctioning of brain. This contributes towards the growing demand for brain implants to help patients sustain their normal lifestyle. The other major factor attributing towards the growth of this market is the growing prevalence of major depressive disorder, which also leads to inefficient functioning of central nervous system, thereby, leading to spurred use of towards brain implants. The other major drivers of this market are rising geriatric population, and increasing prevalence of genetic disorders. As therapeutic modalities, brain implant market is emerging as compared to other conventional procedures, owing to their ability to render desired results.
Brain implants market is segmented on the basis of types into deep brain stimulator (DBS), vagus nerve stimulator (VNS) and spinal cord stimulator (SCS). Among these, deep brain stimulator (DBS) segment held the largest share in 2014, owing to their high efficiency in the treatment of Parkinson’s disease. Since 1997, utilization of deep brain stimulators for the treatment of Parkinson’s disease has been approved by FDA. DBS are also used in the treatment of essential tremor, obsessive compulsive disorder (OCD), depression, and dystonia, which are also the causes leading to brain dysfunctioning. However, over the coming seven years vagus nerve stimulators are expected to witness lucrative growth. These are also approved by the FDA, for the partial treatment of onset epilepsy and hence are expected to being extensively used on account of the growing incidence of this disorder.
Geographically, the brain implants market is studied with respect to five regions, which are, North America, Europe, Asia Pacific, Latin America and MEA. Among these, North America has dominated the market in 2014, due to presence of large number of patient population suffering from neurological disorders. Rising geriatric population base in this region is a high impact rendering driver for this market. Furthermore, factors such as large amount of investments, high disposable income, various government initiatives, growing demand for better healthcare facilities, awareness among people and favorable reimbursement policies are contributing towards the growth of this region. Asia Pacific is expected to witness substantial growth in the coming seven years owing to the presences of high unmet patient needs, and rapidly growing healthcare infrastructure.
The key players operating in the brain implants market are Sapiens Neuro, Aleva Neurotherapeutics SA, MEDTRONIC, Inc., St Jude Medical, Inc., and Boston Scientific Corporation. These companies are involved in rigorous R&D to develop novel products to capture substantial market share and to meet the requirements of the users globally.
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