• 出版社/出版日：Mordor Intelligence / 2021年5月30日
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The Brain Implants Market was valued at approximately USD 4,136.37 million in 2020 and is expected to witness a revenue of USD 7,002.42 million by 2026, with a CAGR of 9.25% over the forecast period.
The COVID-19 pandemic is expected to have a significant impact on the growth of the brain implants market globally, due to the suspension and postponement of most of the elective surgeries and treatment during the pandemic, to reserve the hospital infrastructure and staff in treating COVID-19, infected patients. According to the research article published in medRXiV, 2021, the prevalence of SARS-COV2 viral infection in patients with Parkinson’s Disease was found to be 11.28% and COVID-19 prevalence in Parkinson’s Disease patients with deep brain stimulation was found to be 18.18%. Additionally, as per the research study published in Frontiers in Neurology, 2020, the motor and psychiatric symptoms in Parkinson’s Disease patients and dystonic patients treated with Deep Brain Stimulation was observed to have worsened during the lockdown restriction measure, and further, this had led to increased stress in the management of neurological disorders. Additionally, according to the research particleublished in JAMA Neurology, 2020, among 214 patients with COVID-19, neurologic symptoms were seen in 36.4% of patients. Thus, patients suffering from COVID-19 are prone to a high risk of developing neurological disorder during their hospital stays. Thus, owing to the strict lockdown restrictions and measures taken to contain the viral transmission, the chronic stress and burden of neurological disorders had increased, which required the urgent opening of the neurological outpatient services, and thus, the brain implants market is expected to have impacted significantly during the pandemic.
The major factors for the growth of the brain implants market include the rise in the aging population and an increase in the prevalence of neurological disorders and technological advancements in devices. The increase in the number of cases of neurological disorders, such as Alzheimer’s, epilepsy, Parkinson’s, depression, and essential tremors, is anticipated to propel the demand for brain implants. Brain implants are likely to reduce the need for drugs that relieve chronic pain and improve body movement in patients suffering from Parkinson’s or any other neurological disease. The growing geriatric population is also prone to more number of neurological disorders. and thus, Ageing is the major factor that is driving the market growth for brain implants. According to the United Nations, World Population Ageing 2019 report, more than 703 million people were aged 65 years and above in 2019 and is expected to reach to 1.5 billion by 2050.
Additionally, as per the Parkinson’s Foundation Statistics, 2020, more than one million people are living with Parkinson’s disease in United States by 2020 and nearly 60, 000 Americans are diagnosed with Parkinson’s disease every year. Thus, in view of the high incidenc of neurological disorders globally, along with the rising geriatric population the brain implants market is expected to register significant growth over the forecast period.
Key Market Trends
Alzheimer’s Diseases is Expected to be the Fastest Growing Segment Over the Forecast Period
The incidence of Alzheimer’s has been constantly increasing, and it is expected to continue rising in the coming decades. According to the World Health Organization, 2020, nearly 50 million people around the world are living with Alzheimer’s disease and other dementias, and is expected to reach more than 152 million by 2050. Additionally, according to the research article published in Ageing Research Reviews, 2020, Alzheimer’s disease progression increases with aging and is the fifth-largest contributor to the global burden of diseases, accounting for more than USD 1 trillion in 2018 globally.
Furthermore, as per England: Recorded Dementia Diagnosis Data May 2020, there were approximately 525,315 people diagnosed with dementia in 2019 in the United Kingdom, and one million people in the United Kingdom are projected to be living with dementia by 2025, which would increase to two million by 2050. Among all dementia conditions, 60 to 70% of cases account for Alzheimer’s disease. Hence, Brain implants may improve cognitive function in people with Alzheimer’s disease, which is why Alzheimer’s patients prefer brain implant procedures. Hence, the increase in the number of people with Alzheimer’s disease is expected to drive the brain implants market during the forecast period.
Additionally, as per the research article published in Frontiers inHuman Neuroscience, 2020, Transcranial magnetic stimulation (TMS) and transcranial direct current stimulation (tDCS) are considered to be promising approaches in the treatment and improvement of the cognition of patients with dementia. In January 2021, Cognito Therapeutics received a breakthrough device designation by the U.S. Food and Drug Administration (FDA). for its neurostimulation device to treat memory and cognition symptoms of Alzheimer’s disease. Thus, the high incidence of Alzheimer’s diseases, along with the growing product approvals is expected to help in the significant growth of the studied segment over the forecast period.
North America Region is Expected to Hold a Major Market Share Over the Forecast Period
North America is found to hold a major share of the brain implants market and is expected to show a similar trend over the forecast period, without significant fluctuations. The healthcare facilities in the country are of the highest standards and are accessible to the large population because of favorable policies making healthcare affordable to the majority of the population in the region. This helps in gaining higher selling rates across the country. The increase in prevalence and incidence of various neurological disorders indicates a big potential for the market demand for brain implants. According to the Alzheimer’s Association 2018 Alzheimer’s Disease Facts and Figures report, nearly 5.5 Americans aged 65 years and above were estimated to be diagnosed with Alzheimer’s disease in 2018 and this number is projected to increase to 7.1 million by 2025 and may triple reaching 13.8 million by 2050. Hence, the need to diagnose and treat these diseases gives rise to the demand, which may be met by the product manufacturing companies in the country. Because of the favorable factors, the market in the North American region, particularly in the United States is expected to grow at a steady rate in the coming years.
Additionally, the presence of key players in the region and the increasing number of product approvals is expected to drive the studied market growth. For instance, in June 2020, US FDA approved Medtronic plc’s Percept deep brain stimulation (DBS) for the treatment of Parkinson’s symptoms. Thus, owing to the aforementioned factors, the brain implants market is expected to witness significant growth over the forecast period in the North American region.
The market studied is moderately consolidated owing to the presence of a few key players in the market. Some of the market players are Abbott (St Jude Medical), Boston Scientific Corporation, LivaNova Plc, Medtronic Plc, NDI Medical PLC, NeuroPace Inc., NeuroSigma, Synchron, Inc., and Renishaw plc among others. The major market players are focusing on technological advancement in order to acquire maximum market share. For instance, in January 2021, Abbott Laboratories launched it NeuroSphere my Path, a Digital Health app, that was developed to track and report on pain relief in chronic pain patients and general well-being associated with spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy.
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Aging Population and Increase in Prevalence of Neurological Disorders
4.2.2 Technological Advancements in Devices
4.3 Market Restraints
4.3.1 High Cost of Devices
4.3.2 Low Adoption Rates in Developing and Underdeveloped Regions
4.4 Porter’s Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Deep Brain Stimulator
5.1.2 Spinal Cord Stimulator
5.1.3 Vagus Nerve Stimulator
5.2 By Application
5.2.1 Chronic Pain
5.2.3 Parkinson’s Disease
5.2.5 Essential Tremor
5.2.6 Alzheimer’s Disease
5.2.7 Other Applications
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories (St Jude Medical)
6.1.2 Boston Scientific Corporation
6.1.3 LivaNova Plc
6.1.4 Medtronic Plc
6.1.5 NDI Medical PLC
6.1.6 NeuroPace Inc.
6.1.8 Synchron Inc.
6.1.9 Renishaw Plc
6.1.10 Nevro Corp
6.1.11 Beijing PINS Medical Co. Ltd?
6.1.12 Fisher Wallace
6.1.13 Functional Neuromodulation, Ltd.
6.1.15 Stimwave LLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS