North America Brain Implants Market share and growth factors impact analysis 2022-2030

The North America brain implants market was valued at US$ 3,131.97 million in 2022 and is expected to reach US$ 7,768.72 million by 2030; it is estimated to grow at a CAGR of 12.0% from 2022 to 2030.

Surging Prevalence of Neurological Disorders with Increasing Geriatric Population Fuels North America Brain Implants Market

According to the 2020 population statistics by the US Census Bureau, the geriatric population reached 55.8 million, i.e., 16.8% of the national population; nearly 1 in 6 people in the country were aged 65 and above in 2020. Further, as per the data published by the Fraser Institute, the share of Canada's population aged 65 or older increased from 14% in 2010 to 19% in 2022 and is expected to reach 22.5% by 2030. According to an article published by UpToDate Inc. in August 2021, the incidence rate of epilepsy rises with age and is highest among patients aged 75 and above.

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According to an article titled "Alzheimer's disease: Can deep brain stimulation help alleviate symptoms" published in April 2023, ~32 million people worldwide have Alzheimer's disease. As per the Alzheimer's Disease Research Factsheet, published by BrightFocus Foundation in October 2022, ~500,000 new cases of Alzheimer's disease were diagnosed in 2022 in the US. The incidence rate of Alzheimer's increases with age. ~6.5 million Americans aged 65 and above are suffering from Alzheimer's disease, and the number is expected to reach 12.7 million by 2050. According to the World Health Organization (WHO) stats released in February 2022, approximately 50 million people suffer from epilepsy, which is one of the most common neurological diseases worldwide.

MARKET INTRODUCTION

The North America brain implants market is segmented into the US, Canada, and Mexico. In 2022, the US held the largest market share in this region and is expected to continue its dominance during the forecast period. The increasing prevalence of neurological diseases such as Parkinson's disease (PD), growing awareness about neurological disorders, positive research results, and growing investments in developing various stimulators are among the main factors driving the overall market growth for brain implants in the US. According to the Parkinson's Foundation, 930,000 people in the US were suffering from PD in 2020, and the number is expected to increase to 1.2 million by 2030. Brain implants, such as deep brain stimulation (DBS), have proven to be potential treatment options for PD. DBS devices have been observed to be effective in controlling tremors associated with PD. As per the Oregon Health & Science University (OSHU) Brain Institute, in the US, ~90% of patients with essential tremors experienced moderate relief from symptoms after DBS.

According to a study titled "2022 Alzheimer's disease facts and figures," published in March 2022, ~6.5 million Americans aged 65 and above were found to have Alzheimer's disease in 2022, and the number is projected to rise to 13.8 million by 2060. Moreover, major market players focus on introducing new versions of DBS devices. In March 2023, researchers at Michigan Technological University used neuromorphic computing to improve the efficacy and energy efficiency of DBS systems used to treat PD. Similarly, researchers from the University of North Carolina at Chapel Hill discovered that they were able to generate new neurons in the brain and stimulate them using DBS. This process helped restore cognitive and noncognitive functions in a mouse model that had Alzheimer's disease.
List of Companies Profiled in the North America Brain Implants Market Report are:
• Abbott Laboratories
• Blackrock Microsystems Inc
• Boston Scientific Corp
• BrainGate
• Fisher Wallace Laboratories Inc
• Functional Neuromodulation Ltd
• Medtronic Plc
• Neuralink Corp

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Key Segmentation:

The North America brain implants market is segmented into treatment, application, end user, and country.

Based on treatment, the North America brain implants market is classified into deep brain stimulation, spinal cord stimulation, vagus nerve stimulator, invasive and non-invasive brain-computer interface, responsive neurostimulation for seizures, auditory brainstem implant, and ophthalmic aid/implant. Further, the auditory brainstem implant segment is bifurcated into retrocochlear hearing impairment and cochlear hearing impairment. The spinal cord stimulation segment held the largest share in 2022.

In terms of application, the North America brain implants market is categorized into chronic pain, Parkinson's disease, Alzheimer's disease, epilepsy, essential tremor, depression, dystonia, amyotrophic lateral sclerosis (ALS), and neurofibromatosis 2. The chronic pain segment held the largest share in 2022.

Based on end user, the North America brain implants market is bifurcated into hospitals and specialized clinics/neurological centers. The hospitals segment held the largest share in 2022.

Table of Contents

Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.

Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and market size. It also covers market share and growth rate by regions.

Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.

Breakdown by Product and Application: This section provides details about market size by product and application.

Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.

Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.

Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.

Key Findings of the Research Study

Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.

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