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How Will the Growth Rate of the Neural Implants Market Shape Industry Trends by 2034?

The market size of neural implants has experienced swift growth recently. It is projected to increase from $5.39 billion in 2024 to $5.96 billion in 2025, with a compound annual growth rate (CAGR) of 10.6%. Factors like advancements in healthcare facilities, an increase in the aging population, preference for minimally invasive procedures, demand for tailored treatment alternatives, and the presence of improved healthcare infrastructure have contributed to its growth in the past.

In the forthcoming years, the neural implants market size is set to experience significant expansion. The predicted growth indicates an increase to $8.8 billion in 2029, with a compound annual growth rate (CAGR) of 10.2%. This growth in the projected timeline can be traced back to reasons such as the escalating frequency of neurological disorders, heightened patient awareness regarding novel neurological disorder treatments, broader accessibility to effective devices, growing preference for MR-conditional brain implants and the augmented use of high-frequency neuromodulation therapy. Crucial trends anticipated during the forecast period comprise product innovations, technological enhancements, progress in neuroprosthetics, and the introduction of deep learning algorithms in neural implants.

How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Neural Implants Market?

The upsurge in neurological disorders is anticipated to fuel the expansion of the neural implants market moving forward. Neurological disorders, which can be classified as any abnormalities in the anatomy, biochemistry, or electrical structure of the brain, spinal cord, or peripheral nerves, have been witnessing a surge for several reasons, such as growing aging populations, genetic predispositions, and alterations in diagnostic norms. Neural implants work to treat and control numerous neurological ailments by directly linking with the nervous system to augment or reestablish neural functions. These implants serve a personalized approach that possibly enhances therapeutic effectiveness while reducing unwanted side effects, specifically in diseases like Parkinson’s, epilepsy, and spinal cord injuries. As an illustration, in March 2022, the Alzheimer’s Association, a US-based voluntary health organization dedicated to Alzheimer’s disease care, stated that roughly 7 million Americans aged 65 and above were coping with Alzheimer’s dementia, and this figure could escalate to 13.8 million by 2060. Additionally, the health and long-term care expenses for individuals living with dementia are expected to touch $360 billion in 2024 and close to $1 trillion by 2050. Consequently, the escalating prevalence of neurological disorders is spurring the expansion of the neural implants market.

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Who Are the Key Market Players Influencing the Growth of the Neural Implants Industry?

Major companies operating in the neural implants market are:

• Abbott Laboratories_x000D_

• Medtronic plc_x000D_

• Stryker Corporation_x000D_

• Boston Scientific Corporation_x000D_

• Smith & Nephew plc_x000D_

What Key Market Trends Are Shaping the Future of the Neural Implants Industry?

Leading corporations in the neural implant market are striving to gain a competitive advantage by pioneering novel products, for example, deep brain stimulation (DBS) devices. These devices are designed to address movement disorders such as Parkinson’s disease and essential tremors. DBS devices are medical implants that function by transmitting electrical pulses to targeted parts of the brain to alleviate neurological disorders. A notable development occurred in January 2024 when Abbott Laboratories, a healthcare and medical devices firm based in the US, introduced Liberta RC. This compact rechargeable DBS device, reported to be the smallest globally with remote programming capabilities, was created to aid individuals dealing with movement disorders. The device necessitates the fewest recharge sessions, with users typically needing only 10 per year, compared to other FDA-approved DBS systems. Liberta RC is integrated with Abbott’s proprietary NeuroSphere virtual clinic, providing customers access to clinicians, the ability to verify settings and functionality, and to remotely receive updated treatment settings. The system features a wireless charger that can be positioned over the device, permitting users to remain mobile while using it. Additionally, the device offers personalized charging experiences, with helpful notifications and customizable settings to cater to individual user needs.

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What Are the Primary Segments of the Neural Implants Market and Their Roles in Growth Dynamics?

The neural implants market covered in this report is segmented –

1) By Product: F And B Spinal Cord Stimulation (SCS), Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS)

2) By Application: Chronic Pain, Parkinson’s Disease (PD), Epilepsy, Other Applications

3) By End-User: Hospitals, Specialized Neurological Centers (SNCs), Outpatient Surgery Centers

Subsegments:

1) By F And B Spinal Cord Stimulation (Scs): Traditional Spinal Cord Stimulation, High-Frequency Spinal Cord Stimulation, Burst Spinal Cord Stimulation

2) By Deep Brain Stimulation (Dbs): Subthalamic Nucleus (Stn) Dbs, Globus Pallidus Internus (Gpi) Dbs, Ventral Intermediate Nucleus (Vim) Dbs

3) By Vagus Nerve Stimulation (Vns): Implantable Vagus Nerve Stimulators, Non-Invasive Vagus Nerve Stimulators

Which Regions Are Emerging as Leaders in the Neural Implants Market?

North America was the largest region in the neural implants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neural implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is the Neural Implants Market Defined Across Different Regions?

Neural implants, also known as brain-computer interfaces (BCIs) or neural prosthetics, refer to medical devices designed to interface with the nervous system to restore or enhance neural function. These implants are intended to restore sensory function, treat neurological diseases, and improve cognitive ability.

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