Lucintel's latest market report analyzed that brain implant provides attractive opportunities in various applications, such as chronic pain, epilepsy, parkinson’s disease, depression, essential tremor, and alzheimer’s disease applications. The brain implant market is expected to reach $XX billion by 2028 with a CAGR of 9% to 11%. In this market, deep brain stimulators is the largest segment by product, whereas chronic pain is largest by application.
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Based on product, the brain implant market is segmented into deep brain stimulators, spinal cord stimulators, and vagus nerve stimulators. The deep brain stimulators segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its several advantages over other therapies, such as the reduction in the degree of stiffness, slowness, and walking difficulties caused by different neurological illnesses, such as dystonia, Parkinson's disease, and essential tremor.
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The Brain Implant Market is marked by the presence of several big and small players. Some of the prominent players offering brain implant include Boston Scientifc, Medtronic, Nevro Corporation, Neuropace, NDI Medical, AlevaNeurotheraputics, Sapiens Neuro, and Cochlear.
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