The global neural implants market is estimated to record a substantial CAGR of 8.8% during the forecast period (2024-2031). Neural implants have been used to help neurologically disabled people to regain their abilities to live a healthy life. Over the past decades, many paralyzed patients were able to regain control over their body parts with the help of neural implants. According to the Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) 2015, neurological disorders are the world’s largest cause of disability. The WHO considers neurological disorders as one of the greatest threats to public health. For instance, approximately 60,000 Americans are diagnosed with PD every year. In addition, epilepsy is a chronic non-communicable disease of the brain, affecting around 50 million people globally. Thus, such a high disease burden across the globe is driving the uptake of neural implants.
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The global neural implants market offers immense opportunities both for existing and upcoming players. Several vendors are investing a significant amount in R&D activities to develop and commercialize next-generation neural implants. In addition, many investigational medtech companies are also focusing on the development of the latest-generation neural implants with greater safety and efficacy. Thus, the rising focus of key and emerging players on the innovative pipeline of neural implants devices is anticipated to offer future market growth.
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Market Coverage
- Segment Covered- by Product, Application, and End-user
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Abbott, Boston Scientific Corporation, LivaNova PLC, Medtronic, and NEVRO CORP.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Neural Implants Market Report Segment
By Product
- Deep Brain Stimulation (DCS)
- Spinal Cord Stimulation (SCS)
- Vagus Nerve Stimulation (VNS)
By Application
- Chronic Pain
- Epilepsy
- Parkinson’s Disease (PD)
- Others (Depression and Other Movement Disorders)
By End-user
- Hospitals
- Outpatient Surgery Centers
- Specialized Neurological Centers (SNCs)
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