Get 20% off on Global Market Reports until March 31st! Use code FY25SAVE at checkout.

How has the neural implants market grown over the years?

The market size for neural implants has seen a swift expansion in the recent past. The market, which was worth $5.39 billion in 2024, is projected to increase to $5.96 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.6%. The historical surge in the market can be credited to the development of state-of-the-art healthcare facilities, a rise in the elderly population, increased preference for less invasive procedures, a surge in demand for individualized treatment methods, as well as access to enhanced healthcare infrastructures.

What Is the forecasted market size and growth rate for the neural implants market?

Expectations are high for the neural implants market size to experience swift expansion in the years to come. Predictions show growth to $8.8 billion in 2029, with a compound annual growth rate (CAGR) of 10.2%. The progression during the forecast period can be credited to several factors such as the increasing occurrence of neurological disorders, enhanced patient awareness about the latest treatment methods for neural disorders, the rising availability of effective devices, a growing preference for MR-conditional brain implants and an increased utilization of high-frequency neuromodulation therapy. Significant trends foreseen during the forecast period include product innovations, advancements in technology, progress in neuroprosthetics and the integration of deep learning algorithms into neural implants.

Get your neural implants market report here!

https://www.thebusinessresearchcompany.com/report/neural-implants-global-market-report

What are the major factors driving growth in the neural implants market?

The growth of the neural implants market is anticipated to be driven by the increasing incidence of neurological disorders. These disorders pertain to any abnormalities of the nervous system found in the brain, spinal cord, or peripheral nerves and can be anatomical, biochemical, or electrical in nature. There is a rising occurrence of these disorders due to several reasons including aging populations, inherited susceptibilities, and alterations in diagnostic standards. Neural implants play a crucial role in the treatment and management of diverse neurological diseases as they directly interface with the nervous system to augment or restore neural functions. These implants offer a customised approach, potentially enhancing therapeutic efficacy and reducing detrimental side effects, especially in ailments such as Parkinson’s disease, epilepsy, and spinal cord injuries. For instance, almost 7 million Americans over the age of 65 were reported to be suffering from Alzheimer’s dementia in March 2022, according to the Alzheimer’s Association, an American non-profit voluntary health organization dedicated to Alzheimer’s disease care. This figure is anticipated to surge to 13.8 million by 2060. Furthermore, health and long-term care expenditures for individuals with dementia are estimated to reach $360 billion in 2024 and approach $1 trillion in 2050. Thus, the escalating incidence of neurological disorders is propelling the growth of the neural implants market.

What key areas define the segmentation of the global neural implants Market?

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

Get your free sample now – explore exclusive market insights:

https://www.thebusinessresearchcompany.com/sample.aspx?id=15618&type=smp

What are the top market players propelling the growth of the neural implants industry?

Major companies operating in the neural implants market are Abbott Laboratories, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, Smith & Nephew plc, Integra LifeSciences, Cochlear Ltd., LivaNova PLC, Renishaw plc, MicroPort Scientific Corporation, Nevro Corp., Inspire Medical Systems Inc., Cyberonics Inc., Axonics Modulation Technologies Inc., Saluda Medical, NeuroPace Inc., Fisher Wallace, BioControl Medical, Cerbomed GmbH, Nuvectra Corporation

How are evolving market trends shaping neural implants Strategies?

Key players in the neural implant market are shifting their focus towards the advancement of groundbreaking products like Deep Brain Stimulation (DBS) devices. These are designed to alleviate movement disorders such as Parkinson’s and essential tremors, thus giving these companies a competitive advantage. The DBS device is a medical implant that treats neurological conditions by releasing electrical feedback to particular brain regions. Example of this innovation is Abbott Laboratories, a US-based healthcare and medical devices firm, which introduced Liberta RC in January 2024. This is the smallest rechargeable DBS device worldwide featuring remote programming for the treatment of individuals dealing with movement disorders. Unlike any other FDA-approved DBS system, it requires barely 10 recharging times annually for most users. This device is linked to Abbott’s distinct NeuroSphere virtual clinic, providing patients the advantage of reaching out to healthcare providers, verifying system settings and performance, and remotely receiving adjusted treatment regimes. The equipment comes with a wireless charger that can be positioned over the product, enabling users to stay mobile. Additionally, it offers clients pertinent alerts and tailored settings for a unique charging experience.

Unlock exclusive market insights – purchase your research report now for a swift delivery!

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=15618

What regions are dominating the neural implants market growth?

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.

Browse Through More Similar Reports By The Business Research Company:

Bio-Implants Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/bio-implants-global-market-report

Orthopedic Biomaterials Market Opportunities And Strategies Forecast To 2030

https://www.thebusinessresearchcompany.com/report/orthopedic-biomaterials-market

Hearing Implants Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/hearing-implants-global-market-report

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: