Brain Implants Market Size

Brain Implants Market Overview

The global Brain Implants market industry is projected to grow from USD 13.04 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.2% during the forecast period (2023–2032). There are devices implanted in the human brain to cover up, stimulate, record, and reflex its five senses, such as wires, tubes, sensors, and other devices. These implants may be used to study the function of animal brains, and they are being studied in clinical trials for human brain activity analysis. Neurodegenerative diseases like Parkinson's disease and clinical depression may benefit from the use of various clinical trials that stimulate brain functions and calm the mind to treat them.

We have all been living unhealthy lifestyles over the last few years and anxiety and stress levels have risen day by day. Delayed stimulus actions, lost sense of taste, vision loss, color blindness, and other severe diseases are a result of neurological disorders that people are suffering from. There is a rise of brain implants on neuro disorders and the human brain monitoring study is becoming a topic of interest. In the 1980s, neurology was at the forefront of scientific advancement, and in 2023, more than 4.8 billion US dollars is supposed to be added by investing more than half a billion dollars in research.

Market expansion is being fueled by a number of causes, including the rising prevalence of neurological disorders including Parkinson's disease, Alzheimer's disease, and epilepsy, rising public knowledge of the advantages of brain implants, and encouraging research findings. Stress- and obesity-related depression are also on the rise worldwide.

Therapeutic methods for depression have been shown to benefit greatly from brain implants. As a result, the projection period is anticipated to be driven by an increase in the prevalence of such disorders. Demand for brain implants has risen in response to rising worldwide elderly populations, rising rates of certain disorders (such as Parkinson's, epilepsy, and Alzheimer's), and significant unmet medical requirements. Parkinson's disease is more common among the elderly, a demographic that is rapidly expanding.

COVID 19 Analysis

COVID-19, an RNA-affecting virus that has affected geographically, economically, and politically the world since November of 2019, is witnessing an upward growth. The prognosis of this virus is very less even though the common symptoms are involved as the common cold. To make this virus work, the Governments imposed strict lockdowns all around the globe. With this pandemic, the world and private businesses have learned to work on necessities and essentials. During COVID-19 pandemics, the brain implant market grew as more doctors started using computer chips to analyze and record the brain activity of those affected. In some regions, doctors used brain chips to stimulate positive actions to build immunity in patients who were also affected by the virus and had mental breakdowns.

In July 2023, Additionally, the Parkinson's Foundation allocated 02.8 million dollars towards 30 grants to accelerate advanced research on Parkinson's disease (PD). These grants were designed to enable scientists to carry out ground-breaking research across a range of PD-related fields and try to find new treatments and therapies with the ultimate aim of finding the cure for about 10 million people suffering from this challenging neurological condition worldwide.

LivaNova PLC, a leading medical technology and innovation company, announced in February 2023 that it had begun sales of the SenTiva DUO, an implantable pulse generator (IPG) with a dual-pin header that delivers VNS Therapy therapy intended for drug-resistant epilepsy treatment.

In September 2022, Aleva Neurotherapeutics SA got a CE marking for its MRI labeling of the directSTIM DBS System that can be used within a full-body magnetic resonance imaging (MRI) environment; this type of approval is considered first in its class for Directional Deep Brain Stimulation (DBS) Neuromodulation pioneer company.

In April 2022 saw the Food and Drug Administration (FDA) approve software for brain stimulation in people with Parkinson’s disease. This tool will enable physicians using Vercise Neural Navigator with Stimview XT to see where the lead is placed and model how it delivers stimulation through patient-specific three-dimensional models customized into therapy. The software assists in lead placement, reduces programming time and allows for more informed treatment decisions by surgeons.

The SenSight Directional Lead System by Medtronic plc received FDA approval for use in deep brain stimulation therapy in June 2021.

Abbott launched NeuroSphere Virtual Clinic in March 2021. Recently, an FDA-approved tool was launched that helps reset devices remotely while being at home without the need to travel to experts or take any actions regarding Deep brain stimulation. Patients are able to program their devices as well as reset these remotely at their own houses rather than having to come to the physician for that.

August 2023, researchers at the University of California, San Francisco employed a gadget with 253 electrodes implanted in cortical material to conduct a groundbreaking investigation. This system, which took a similar technique as the one at Stanford, was able to increase the average pace of speech to 78 words per minute. The paralyzed participant, who previously could only communicate at a rate of 14 words per minute using head movements, saw a dramatic increase in both communication speed and efficacy. By targeting the entire body, this method helps patients use their facial and mouth muscles to make speech-related sounds and gestures.

Brain Implants Market Trends

Drivers

According to the WHO reports, The demand for public healthcare facilities has increased due to the increase in neurological disorders in humans. Since more than fifty million people are affected by Alzheimer's, fifty million with epilepsy treatment, and 75 million with Parkinson's disease; governments around the world have shown interest in funding clinical trials and hospital fanciful treatments that can potentially solve these neurological illnesses. As there is no predetermined age group affected by these diseases, securing future generations has become feasible. The brain implants industry is adding value by creating stimuli in the brain using laser-based techniques and other cost-effective methods. With the use of neural chips, actions in hands and fingers can be stimulated, as well as improvements in vision with chips.

Technology Analysis

In the 1980s with advanced neurotechnology, there was a boost in the brain implants market. The source of brain implant study is clinical depressions, paralysis, autism, and other neurological disorders. The cortex of the brain is implanted with neural chips that stimulate the brain's activities throughout the body. In case of brain damage, limb loss, paralysis, etc. to recover the motion sensors of the brain can be injected into the brain. When studying the brain with computers, scientists sometimes use chips to study brain activity in different contexts. With the ability to visually analyze brain activity while connected to neural chips, advancements in the brain implant market have been made with the use of visual stimulation. Brain implant’s market share has grown in part due to spinal cord stimulators which combine electronics with brain implants and stimulate vision impulses, body sensations, and reflexes.

Brain Implants Market Segment Insights

Brain Implants Type Insights

There are three types of implanted brains: vagus nerve stimulators, spinal cord stimulators, and deep brain stimulators. A simulator typically inserts machines into the human brain and spinal cord to perform the necessary functions. An emergency or an accident may require the use of spinal cord stimulators to test stimulus and reflex actions. Computer chips are used to record brain activity using deep brain stimulators, which act as replacements for nerves that are deficient in sensory transmission. It is expected that deep brain stimulators will generate greater revenue for the brain implants market than other types of brain implants.

Brain Implants Application Insights

Numerous neuron diseases are treated in the brain implants market based on application such as epilepsy, chronic brain pain, blood clots, Alzheimer’s aneurysms, tremor, clinical depression, Parkinson’s disease, etc. A major chunk of these chronic neuro illnesses do not even have a cure if the appropriate time to detect and cure the disease has crossed. It is only in case of a known issue that brain treatment and surgery are possible. Globally, due research and development and thorough clinical trials and experiments are ongoing to find solutions and track the effects of such brain issues.

Brain Implants Vertical Insights

Based on verticals, the brain implants market is divided into an end-user market that includes clinical trials centers, hospitals, local brain physicians. The brain implants market share is increasing and growing at a fast pace as companies have considered this market lucrative for investments in hospitals and clinics due to the increase in neuro disorders of all ages.

October 2022, Axoft, a neurotechnology startup, officially released its brain-machine interface (BMI) and announced that it had been granted FDA Breakthrough Device status for the treatment of neurological illnesses. The firm raised $8 million to pay for pre-clinical investigations with the FDA and to improve the scalability of its prototypes of neural implants described as "as soft as the brain." The Engine, an MIT spinoff VC firm focused on early-stage investments in disruptive technologies, led the funding round.

May 2023, Neuralink, Elon Musk's startup, has received clearance from American regulators to begin human testing of its brain implants. According to Neuralink, the FDA has given its blessing to the company's first human clinical trial using implants designed to allow the brain to connect directly with computers. The startup's presentations included the implantation of coin-sized Neuralink prototypes into the brains of animals. An early demonstration revealed how a surgical robot could replace a section of skull with a Neuralink disk, and then put the disk's fine wires into specific locations in the brain.

Brain Implants Regional Insights

Since 2017, America has dominated the brain implants market. The brain implants industry has seen a rapid boost because of an increase in neurological diseases across ages. 

In addition to showing an interest in neuro research and development, the government has approved all of the healthcare clinics and hospitals resulting in higher brain implant market shares. When it comes to neuro treatments and clinical trials involving surgically implanted brains, Europe is no less than the United States when it comes to investors, hospitals, and government cooperation. Even in the Asia Pacific brain implants market, to fight against diseases such as Parkinson’s, epilepsy, Alzheimer’s, etc. countries like Japan, Africa, Middle East, and India have accepted the solution of brain implants. Exports and imports of brain implants are concentrated in China and India.

Competitive Landscape

Because of the growing number of patients with neuro disorders, the governments of various market leaders (the United States, Europe, China, India, Japan, and Africa) in the brain implant industry have opened a lucrative market for the brain implant industry. The government's willingness to provide FDA approvals and fund healthcare departments researching neural networks and neurology is creating a strong market for the brain implant industry. Neurology has advanced since the 1980s and is expected to add more than 4.8 billion US dollars in value by 2023 by investing more than 500,000 million US dollars in research.

Key companies in the Brain Implants market include:

• LivaNova PLC (UK)


• Boston Scientific Corporation (US)


• Beijing PINS Medical Co. Ltd. (China)


• NeuroPace Inc. (US)


• Nevro Corporation (US)


• Abbott (US)


• Nuvectra Corporation (US)


• Medtronic (US)


• Functional Neuromodulation Ltd. (US)

Recent Developments

June 2024 : LivaNova keeps growing in the Vagus Nerve Stimulation (VNS) market, where it offers depression and epilepsy treatments. In an effort to enhance patient outcomes, the company is concentrating on increasing implant efficacy by implementing more sophisticated stimulation parameters and software updates.

April 2024 : An improved Deep Brain Stimulation (DBS) device with increased flexibility and precision has been released, according to Boston Scientific. This novel apparatus addresses disorders of movement, including essential tremor and Parkinson's disease. With improved data collection capabilities built into the system, physicians can more effectively adjust therapy.

February 2024: In an effort to make the Deep Brain Stimulation operations less intrusive, Beijing PINS unveiled new advancements in their equipment. Additionally, the business has advanced the creation of implanted devices that enhance patient comfort and adaptability in response to China's increasing need for more advanced neurological therapies.​

Brain Implants Market Segmentation: 

By Type 

• Spinal Cord Stimulator,


• Deep Brain Stimulator,


• Vagus Nerve Stimulator

By Application 

• Chronic Pain,


• Epilepsy,


• Parkinson's Disease,


• Depression,


• Essential Tremor


• Alzheimer's Disease

By End User 

• Hospitals


• Clinics


• Specialty Centers