Global Neural Implants Market, By Product (F&B Spinal Cord Stimulation (SCS), Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS)), Application (Snapshot & Growth Engine, Chronic Pain, Parkinson's Disease, Epilepsy, Others), End-User (Hospitals, Specialized Neurological Centers, Outpatient Surgery Centers), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Neural Implants Market
The neural implants market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to reach at an estimated value of USD 7886.26 million by 2028 and grow at a CAGR of 0.09% in the above-mentioned forecast period. Rise in the target patient pool all over the globe drives the neural implants market.
Neural implant is defined as a highly innovative technology and is expected to influence the existing treatment modalities of neuropathic disorders and chronic neuropathic pain. The introduction of neural implants has been a significant breakthrough in neurological treatment modalities with their high potential in minimizing the occurrence of adverse events associated with Parkinson's Disease, chronic pain, epilepsy, and other neural disorders. Therefore, the adoption of neural implants is likely to increase at a phenomenal rate in the coming years.
Rise in the popularity of MR-conditional neural implants acts as the vital factor escalating the market growth, also rise in the uptake of minimally invasive pain relief treatment, rise in the use of high-frequency neuromodulation therapy, rise in the incidence of neurological conditions such as Parkinson’s disease, Alzheimer’s, and epilepsy, coupled with rise in the awareness regarding brain implant benefits, and positive research outcomes are the major factors among others driving the neural implants market. Moreover, rise in the technological advancements and modernization in the healthcare devices and increase in the research and development activities in the healthcare sector will further create new opportunities for neural implants market in the forecasted period of 2021-2028.
However, rise in the risks & complications associated with neural implants, stringent regulations associated with neural implants, limited availability of skilled neurologists/neurosurgeons and high cost of neural implants are the major factors among others which will obstruct the market growth, and will further challenge the growth of neural implants market in the forecast period mentioned above.
This neural implants market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the neural implants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Neural Implants Market Scope and Market Size
The neural implants market is segmented on the basis of product, application and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product, the neural implants market is segmented into F&B spinal cord stimulation (SCS), deep brain stimulation (DBS) and vagus nerve stimulation (VNS).
- Based on application, the neural implants market is segmented into snapshot & growth engine, chronic pain, Parkinson’s disease, epilepsy and others.
The neural implants market is also segmented on the basis of end-user into hospitals, specialized neurological centers and outpatient surgery centers.
Neural Implants Market Country Level Analysis
The neural implants market is analysed and market size insights and trends are provided by country, product, application and end-user as referenced above.
The countries covered in the neural implants market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the neural implants market due to rise in the prevalence of neurological disorders, arise in awareness about treatments, increase in the availability of highly skilled physicians, and the presence of well-established healthcare facilities in this region. Asia-Pacific is the expected region in terms of growth in neural implants market due to rise in the various factors such as the rising prevalence of neurodegenerative and psychiatric disorders, coupled with unmet need for effective and long-term treatment solutions, increasing affordability, and rise in the number of awareness programs in this region.
The country section of the neural implants market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The neural implants market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for neural implants market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the neural implants market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Neural Implants Market Share Analysis
The neural implants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to neural implants market.
The major players covered in the neural implants market report are NeuroPace, Inc, Boston Scientific Corporation, Fisher Wallace, SceneRay Corporation, Limited, Beijing PINS Medical Co., Ltd, ALEVA NEUROTHERAPEUTICS SA, MEDTRONIC, and Abbott among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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