Brain Implants Market Overview:
The Brain Implants Market size is projected to reach USD 13.04 Billion by 2032 at 12.2% CAGR 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.
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.
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.
Opioids Market Dynamics:
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.
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.
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.
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.
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.
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.
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. 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), and others are among the valued key competitors in the brain implants 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. The Brain Implants Market Research Report predicts a CAGR of 11.7% by 2023.
In China, the BrainCom project is a world-recognized clinical trial that is associated with speech. Researchers study the stimulus created by the brain by attempting to create the intention of speaking. As part of an FDA-approved project, Boston Scientific Corporation has been working on a spinal cord stimulator. With the emergence of neuromodulation, St. Jude Medical (Abbott) increased investment in the market for brain implants by advancing neural chips in the year 2017. A new OCT spinal system from Medtronic (US) has proven successful in analyzing brain responses to challenging situations. There have been many cases in which neurosurgeons have performed open brain surgery on awake patients to remove an aneurism in deep brain cells without causing other senses to be lost.
As long-term chronic pains that sufferers from humans suffer, along with other neurological disorders such as epilepsy, Parkinson's, aneurysms, blood clots, and Alzheimer's disease, the brain implant industry has exploded since the late 1980s. Several healthcare centers such as clinics, specialty centers, and clinical trial centers have received government approval to conduct brain implant tests and find suitable solutions to these disorders. The United States, Europe (Germany, France), China, Japan, India are expanding their market strategies by acquiring healthcare centers and merging investors to advance neurology study. In the brain implant market, there is a wide array of academics and contracts.
USD 13.04 Billion
Value (USD Million)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Type, Application, End User and Region
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
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)
Key Market Opportunities
Increase in neurological disorders in humans
Key Market Drivers
Laser-based techniques and other cost-effective methods are being used to create stimulus in the brain using brain implants adding value to the brain implants industry
Brain Implants Market Highlights:
Frequently Asked Questions (FAQ) :
The brain implants market is projected to grow at a 13.04% CAGR between 2023-2032.
The Americas are expected to dominate the brain implants market.
The brain implants market is predicted to touch USD 13.04 billion by 2032.
Key competitors in the brain implants market include Functional Neuromodulation Ltd (US), Synchron Inc. (US), Nevro Corporation (US), Nuvectra Corporation (US), Beijing PINS Medical Co. Ltd (China), NeuroPace Inc. (US), LivaNova PLC (UK), Abbott (US), Boston Scientific Corporation (US), and Medtronic (US).
High cost and strict regulatory framework may deter market growth.
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