Brain implants, often referred as
neural implants, are the devices that are connected directly to the brain. These
brain implants are placed on the brain surface i.e., over gyri and sulci, or
they are attached to the cortex of brain. Brain implants are implanted when
brain becomes dysfunction due to various reasons such as head injuries and
stroke. Brain implants are extensively utilized on animals for scientific
research purpose (recording brain activities).
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Brain implants or neural implants
can be segmented as vagus nerve stimulator (VNS), deep brain stimulator (DBS)
and spinal cord stimulator (SCS). Vagus nerve stimulator (VNS) helps to treat
certain type of brain disorders such as treatment-resistant depression and
epilepsy. Vagus nerve stimulators received the U.S. FDA approval in 1997 as a
treatment option for partial-onset epilepsy. Spinal cord stimulators (SCS) help
exert electrical signals to spinal cord. Spinal cord stimulators help in
treating various chronic pains by blocking the signals of pain to the
brain.
Deep brain stimulators (DBS) also
known as brain pacemakers, are medical devices that send electrical impulses to
specific parts of brain through implanted electrodes. FDA has approved the
utilization of deep brain stimulators (DBS) in 1997 as a treatment option for
Parkinson’s disease. DBS also help in treating dystonia, depression, obsessive
compulsive disorder (OCD) and essential tremor.
Owing to rising incidences of
Parkinson’s disease, the market for brain implants is poised to grow at a
noteworthy CAGR during the forecast period 2014 to 2020. According to the
Parkinson’s Disease Foundation (PDF), more than 1 million of Americans live
with Parkinson’s disease every year. It has also estimated that every year
around 60,000 Americans are diagnosed with Parkinson\'s disease. PDF has
estimated that around 10 million people are suffering from Parkinson\'s disease
globally and this number is expected to boom in near future. Hence, increasing
number of people suffering from Parkinson\'s disease is likely to increase
demand for deep brain stimulators and in turn will propel the growth of overall
brain implants market. Likewise, increasing number of patients suffering from
obsessive compulsive disorder will also augment the growth of brain stimulators
market.
According to International OCD
Foundation, in 2012, nearly 2 to 3 million adults suffered from obsessive
compulsive disorder (OCD) in the U.S. In addition, approximately 2.3% of the
global population suffers from OCD every year and has been estimated that this
number is expected to increase during the forecast period. Moreover, increasing
adoption for such technologies by patients as well as by physicians will also
support the growth of brain implants market.
North America accounted for the
largest share by revenue in 2013 and is likely to grow at a steady CAGR during
the study period. This is due to the presence of a large number of
manufacturers of brain implants in the region coupled with high disposable
income of the population that increases their affordability for the uptake of
brain implants. Europe accounted for the second largest share of the global
brain implants market. Improving reimbursement scenario in the countries such
as China and India is expected to propel the growth of brain implants market in
Asia-Pacific region at the highest CAGR. Increasing disposable income will
further augment the growth of brain implants market.
Some of the major players operating
in the brain implants market include Boston Scientific Corporation, St Jude
Medical, Inc., MEDTRONIC, Inc., Aleva Neurotherapeutics SA and Sapiens Neuro
amongst other significant players.
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This research report analyzes this
market depending on its market segments, major geographies, and current market
trends. Geographies analyzed under this research report include
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- Asia Pacific
- Europe
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