Market Research Report
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
|Published by||Grand View Research, Inc.||Product code||614694|
|Published||Content info||80 Pages
Delivery time: 2-3 business days
|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|
|Published: February 6, 2018||Content info: 80 Pages||
The global brain implants market size is anticipated to reach USD 8.29 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 11.9% during the forecast period. Mounting cases of neurological disorders such as Parkinson's, Alzheimer's, epilepsy, depression, and tremors are contributing to market growth.
Growing incidence of Parkinson's disease is boosting the demand for brain implants. These implants help in improving body movement and reduce the need for drugs. According to statistics presented by Parkinson's News Today, about 10 million people suffer from this disease globally. Cases of epilepsy are also increasing due to brain injuries, stroke, and unhealthy lifestyle. As per statistics by Forbes, nearly 3 million people were affected with epilepsy in U.S. in 2017. Demand for vagus nerve stimulators is on a sharp rise owing to its treatment benefits for epilepsy.
In addition, factors such as technological advancements in brain implants, along with rising disposable income in developed countries, are propelling market growth. The market is expected to witness lucrative growth over the coming years as a consequence of increasing number of research activities leading to technological breakthroughs. These include self-charging implants and memory chips, which are estimated to unfold tremendous growth opportunities over the forecast period.