Brain Market Size To Expand at a Notable CAGR Of 9.53% During 2018 - 2023

Pune, India, February, 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Brain Market.

Overview:

The use of brain implants has risen considerably following its potential applications to treat a wide spectrum of brain-related ailments. Market reports linked with the healthcare industry have been offered by Market Research Future which makes reports on other industry verticals that aims to examine the current market scenarios better. The market is anticipated to achieve a CAGR of 9.53% while earning revenues totaling USD 3.24 Bn by the end of the forecast period.

The lack of treatment options for neurological disorders has improved the demand for brain implants that can more effectively address the ailment.  The rising level of investments into the market for brain implants is spurring an elevated level of developments in terms of product design and quality, which is expected to have a positive influence on the long-term growth of the market in the forecast period. Moreover, an increasing level of patient population is expected to reinforce the expansion of the market in the forecast period.

Segmental Analysis

The segmentation of the brain implants market has been carried out on product, application, and end users. On the basis of product, the brain implants market globally has been segmented into spinal cord stimulator, deep brain stimulator, and vagus nerve stimulator. On the basis of application, the brain implants market has been segmented into epilepsy, chronic pain, Parkinson's disease, essential tremor, depression and Alzheimer's disease. Based on end users, the brain implants market has been segmented into clinics, hospitals, and ambulatory services.

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Detailed

Regional Analysis

The regional analysis of the brain implants market includes regions such as Europe, the Americas, the Middle East, Asia Pacific, Africa are the critical markets for brain implants. The Americas region has a significant growth pocket for the brain implants market. The high incidence of neurological disorders in the region and the increased adoption rate of advanced medical technologies are the major contributors to the growth of the Americas market. In addition, the region is a hub for various manufacturers. The increased disposable income of the population is also a critical factor in the implementation of brain implants in the region. The European region’s brain implants market is motivated by substantial investments in R&D activities and increased healthcare spending.

The Asia Pacific region is an evolving market for brain implants and is anticipated to display incredible progress over the forecast period. The growth in disposable income will raise the affordability for brain implants, thus increasing market demand. The recovering reimbursement situation and rising prevalence of neurological diseases are expected to back the development of the APAC market. The Middle East & African market is projected to be responsible for the lowest share in the brain implants market. Minimal awareness about diseases and reduced healthcare spending in the region is limiting the growth of the market. The African region specifically is expected to display slow progress, since neurological services and resources are rare in the region.

Competitive Landscape

The market contenders find themselves in a favorable position with the ability to manage the pace of change. The market trends hint at favorable development of the products that can bring in novelty to the product range and address the customer need better. The market also shows potential for demonstrating a greater comparative or differential value. The presence of a productive entity is expected to generate more sales or superior margins compared to its market rivals. The advent of new technology has boosted the growth potential of the market. Substantial cutbacks in administrative finances are bringing further development to the market. The development of a strong value chain is moreover motivating the expansion of the market.

The distinguished players in the brain implants market are Charles River, Sartorius AG, Thermo Fisher Scientific Inc., FOCUS Laboratories, Inc., Merck KGaA, Rapid Micro Biosystems, Inc., Dickinson and Company, Eurofins Scientific, Becton, bioMérieux SA, and Gibraltar Laboratories.

Industry Updates:

Jan 2019 A new, smart implant that "listens" to brain signals is being poised as a potential measure to help treat epilepsy and other neurological conditions, such as Parkinson's disease. The device is being developed by specialists from the University of California (UC), Berkeley who have made a new, sophisticated neurostimulator that can achieve this feat may help in treating Parkinson’s, epilepsy, and other conditions.