Neural Implants Market
Global Neural Implants Market Size, Share & Trends Analysis Report by Product (Deep Brain Stimulation (DCS), Spinal Cord Stimulation (SCS), and Vagus Nerve Stimulation (VNS)), by Application (Chronic Pain, Epilepsy, Parkinson's Disease (PD), and Others (Depression and Other Movement Disorders)), and by End-user (Hospitals, Outpatient Surgery Centers, and Specialized Neurological Centers (SNCs)) Forecast Period (2021-2027) Update Available - Forecast 2024-2030
The global neural implants market is projected to propagate at a solid CAGR of 8.8% during the forecast period (2021-2027). Neural implants, also called brain implants, are medical devices that are placed inside the body to make them interact with neurons. These implants are novel medical human-made devices that are usually placed on the surface of the brain or attached to the brain’s cortex through surgery. With the help of neural implants, it has become possible to record native neural activity, enabling researchers & clinicians to observe the patterns by which healthy neural circuits communicate. Technically, neural implants are systems that are mainly used to stimulate parts and structures of the nervous system with the help of implanted electrical circuitry. Therefore, the device enhances physical movement, senses, and memory.
Elderly patients are most likely to be at high risk of developing neurological disorders such as Parkinson’s disease (PD), chronic neuropathic pain, epilepsy, and other movement-associated disorders. Thereby, the need for neural implants to treat chronic neurodegenerative diseases in the rising elderly population across the globe is influencing the higher uptake of neural implants for preventing any adverse outcome.
Segmental Outlook
The neural implants market is segmented based on product, application, and end-user. Based on the product, the neural implants market is segmented into deep brain stimulation (DCS), spinal cord stimulation (SCS), and vagus nerve stimulation (VNS). Based on application, the market is classified into Chronic Pain, Epilepsy, Parkinson's Disease (PD), and others (depression and other movement disorders). Based on end-user, the market is segmented into hospitals, outpatient surgery centers, and specialized neurological centers (SNCs). The SCS segment accounted for the largest share as the majority of the neural implants that are commercially available are of SCS. The market is growing at a significant rate and is likely to grow at a similar pace during the forecast period. Implantable SCS systems are used to treat certain types of chronic pain, such as neuropathic pain. As an intervention for chronic pain, SCS is a proven effective alternative or adjunct treatment to other therapies that have failed to manage pain on their own. The growth of the SCS segment has been fueled primarily due to the increasing prevalence of neuropathic pain, particularly the upsurge of patients with FBBS/ FBS, and attempts to use strategies other than chronic opioid therapy for the treatment of chronic neuropathic pain.
The emergence of the Latest Generation Neural implants
Technological advancements in neural implant devices have revolutionized and enhanced the clinical outcome of treatment with SCS, DBS, and VNS systems. For instance, an advanced recharge-free SCS system allows patients to achieve meaningful relief from chronic pain and regain valuable time with a recharge-free battery, which can last up to ten years by delivering low-dose stimulation. Such patient-centric innovation is a breakthrough in the global neural implants market, which is anticipated to drive future market growth in the upcoming years.
Regional Outlook
The global neural implants market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. In 2020, North America dominated the global market, followed by Europe, Asia Pacific, and the Rest of the World. North America dominated the neural implants market with the highest market share owing to the presence of a large proportion of the patient population, coupled with better access to treatment with the latest generation neural implants. The strong presence of key neural implant players is another factor contributing to the higher uptake of neural implants in North America.
Global Neural Implants Market Growth, by Region 2021-2027
Market Players Outlook
The global neural implants market is highly consolidated, with major vendors accounting for dominant shares. Key vendors are offering a broad range of conventional as well as latest-generation neural implants for end-users. Medtronic, Abbott, Boston Scientific, NEVRO, and LivaNova are the key vendors in the market. These vendors compete among themselves based on factors such as technology up-gradation, accuracy features, regulatory approvals, marketing strategies, and distribution channels. These companies have a wide geographic footprint, diversified product portfolio, and a strong focus on product innovation, strategic mergers & acquisitions, and R&D activities.
Technological advances and scientific discoveries are leading to rapid change in the global neural implants market. Market players in the global neural implants market compete across the product portfolio, and players range from large manufacturers with multiple business lines to small manufacturers offering a limited selection of specialized products. In addition, key players face competition from providers of alternative medical therapies, such as pharmaceutical companies, among others.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global neural implants market. Based on the availability of data, information related to the products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Key Strategy Analysis
3.2. Key Company Analysis
3.2.1. Abbott Laboratories
3.2.1.1. Overview
3.2.1.2. Financial Analysis
3.2.1.3. SWOT Analysis
3.2.1.4. Recent Developments
3.2.2. Boston Scientific Corp.
3.2.2.1. Overview
3.2.2.2. Financial Analysis
3.2.2.3. SWOT Analysis
3.2.2.4. Recent Developments
3.2.3. LivaNova PLC
3.2.3.1. Overview
3.2.3.2. Financial Analysis
3.2.3.3. SWOT Analysis
3.2.3.4. Recent Developments
3.2.4. Medtronic PLC
3.2.4.1. Overview
3.2.4.2. Financial Analysis
3.2.4.3. SWOT Analysis
3.2.4.4. Recent Developments
3.2.5. NEVRO CORP.
3.2.5.1. Overview
3.2.5.2. Financial Analysis
3.2.5.3. SWOT Analysis
3.2.5.4. Recent Developments
4. Market Determinants
4.1 Motivators
4.2 Restraints
4.1. Opportunities
5. Market Segmentation
5.1. Global Neural Implants Industry Market by Product
5.1.1. Deep Brain Stimulation (DCS)
5.1.2. Spinal Cord Stimulation (SCS)
5.1.3. Vagus Nerve Stimulation (VNS)
5.2. Global Neural Implants Market by Application
5.2.1. Chronic Pain
5.2.2. Epilepsy
5.2.3. Parkinson's Disease (PD)
5.2.4. Others (Depression and Other Movement Disorders)
5.3. Global Neural Implants Market by End-user
5.3.1. Hospitals
5.3.2. Outpatient Surgery Centers
5.3.3. Specialized Neurological Centers (SNCs)
6. Regional Analysis
6.1. North America
6.1.1. US
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Abbott
7.2. Aleva Neurotherapeutics SA
7.3. Beijing PINS Medical Co., Ltd.
7.4. Boston Scientific Corporation
7.5. Functional Neuromodulation Ltd.
7.6. LivaNova PLC
7.7. Medtronic
7.8. Nalu Medical, Inc.
7.9. NEURALINK*
7.10. NeuroPace, Inc.
7.11. NeuroSigma, Inc.
7.12. NEVRO CORP.
7.13. Nuvectra Medical
7.14. Renishaw plc
7.15. Saluda Medical Pty Ltd.
7.16. SceneRay Co., Ltd.
7.17. SetPoint Medical Corp.*
7.18. Stimwave LLC
7.19. Synchron, Inc.*
*-Investigational Companies
1. GLOBAL NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
2. GLOBAL DEEP BRAIN STIMULATION (DCS) MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL SPINAL CORD STIMULATION (SCS) MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL VAGUS NERVE STIMULATION (VNS) MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
6. GLOBAL CHRONIC PAIN MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL EPILEPSY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL PARKINSON'S DISEASE (PD) MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL OTHERS (DEPRESSION AND OTHER MOVEMENT DISORDERS) MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
11. GLOBAL HOSPITALS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL OUTPATIENT SURGERY CENTERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL SPECIALIZED NEUROLOGICAL CENTERS (SNCS) MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. NORTH AMERICA NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
15. NORTH AMERICAN NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
16. NORTH AMERICAN NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
17. NORTH AMERICAN NEURAL IMPLANTS MARKET RESEARCHAND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
18. EUROPE NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
19. EUROPE NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
20. EUROPE NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
21. EUROPE NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
22. ASIA-PACIFIC NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
23. ASIA-PACIFIC NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
24. ASIA-PACIFIC NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
25. ASIA-PACIFIC NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
26. REST OF THE WORLD NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
27. REST OF THE WORLD NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
28. REST OF THE WORLD NEURAL IMPLANTS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
1. GLOBAL NEURAL IMPLANTS MARKET SHARE BY PRODUCT, 2020 VS 2027 (%)
2. GLOBAL NEURAL IMPLANTS MARKET SHARE BY APPLICATION, 2020 VS 2027 (%)
3. GLOBAL NEURAL IMPLANTS MARKET SHARE BY END-USER, 2020 VS 2027 (%)
4. GLOBAL NEURAL IMPLANTS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
5. THE US NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
6. CANADA NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
7. UK NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
8. FRANCE NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
9. GERMANY NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
10. ITALY NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
11. SPAIN NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
12. ROE NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
13. CHINA NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
14. INDIA NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
15. JAPAN NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
16. REST OF ASIA-PACIFIC NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
17. REST OF THE WORLD NEURAL IMPLANTS MARKET SIZE, 2020-2027 ($ MILLION)
