Global Neurological Implants Market is expected to reach US$ 12.39 billion by 2031
Global Neurological Implants Market is growing at a CAGR of 9.8 % during the forecast period 2024-2031.
(EMAILWIRE.COM, February 21, 2025 ) Global Neurological Implants Market reached US$ 5.88 billion in 2023 and is expected to reach US$ 12.39 billion by 2031, growing at a CAGR of 9.8 % during the forecast period 2024-2031.
Market Drivers
Rising Incidence of Neurological Disorders Driving the Neurological Implants Market
The increasing prevalence of neurological disorders is a major factor fueling the growth of the global neurological implants market, a trend expected to continue throughout the forecast period.
Conditions such as Parkinson’s disease, Alzheimer’s disease, epilepsy, and chronic pain affect millions worldwide, creating a rising demand for effective treatment solutions that improve patient outcomes and quality of life. A significant study published in The Lancet Neurology—conducted in collaboration with the World Health Organization (WHO)—revealed that over 3 billion people globally were living with a neurological condition in 2021. The burden of these disorders, measured in disability-adjusted life years (DALYs), has increased by 18% since 1990, making neurological conditions the leading cause of ill health and disability worldwide.
Notably, more than 80% of deaths and health loss linked to neurological disorders occur in low- and middle-income countries. A stark disparity in access to care exists, with high-income nations having up to 70 times more neurological specialists per 100,000 people than lower-income regions. These factors collectively drive the demand for neurological implants.
Devices such as deep brain stimulation (DBS) implants have demonstrated effectiveness in alleviating symptoms of movement disorders and epilepsy by delivering targeted electrical impulses to specific brain regions. For patients unresponsive to traditional medications, these implants offer a promising alternative.
Industry players continue to drive market growth through innovation and product development. For instance, in July 2024, Mint Neurotechnologies Ltd (MintNeuro) launched the “EXPLORE” project, backed by a £100,000 grant from Innovate UK through the Biomedical Catalyst Feasibility Competition 2023. Building on the success of the previous DREAM project, this initiative aims to expand MintNeuro’s advanced neural sensing technology beyond its initial application in Drug-Resistant Epilepsy.
With rising disease prevalence, technological advancements, and increasing investment in neurological research, the global neurological implants market is poised for significant expansion in the coming years.
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Market Regional Share
North America’s Leading Role in the Global Neurological Implants Market
North America holds a significant share in the global neurological implants market and is expected to maintain its dominance throughout the forecast period.
The rising prevalence of neurological disorders, driven by an aging population and lifestyle changes, is a key factor contributing to market growth. According to Alzheimer’s Disease Facts and Figures (February 2021), the number of individuals living with Alzheimer’s dementia in the U.S. is projected to increase from 5.8 million in 2021 to 14.3 million by 2060. Similarly, over 1 million Americans are diagnosed with Parkinson’s disease, and approximately 5.1 million live with epilepsy.
Deep brain stimulation (DBS) systems with advanced sensing capabilities are now available, enabling physicians to personalize treatments for movement disorders such as Parkinson’s disease, essential tremor, dystonia, and epilepsy. In the U.S., over 11 million people are affected by movement disorders, while around 3.4 million live with epilepsy, further driving the demand for neurological implants.
Customize Your Scope: https://www.datamintelligence.com/customize/neurological-implants-market
Market Segments
By Product Type
• Deep Brain Stimulators
• Vagus Nerve Stimulators
• Spinal Cord Stimulators
• By Material
• Silicon
• Tungsten
• Platinum-iridium
• Nanotubes
• Others
By Application
• Chronic Pain
• Parkinson's Disease
• Epilepsy
• Depression
• Essential Tremor
• Alzheimer's Disease
By End-User
• Hospitals
• Neurology Clinics
• Others
Market Key Players
Key players are Medtronic, Boston Scientific Corporation, NeuroPace Inc., Abbott Laboratories, Aleva Neurotherapeutics, Renishaw PLC, NEVRO CORP., Synapse Biomedical Inc. and LivaNova PLC.
Recent Development
In January 2024, Medtronic plc announced that it has received approval from the U.S. Food and Drug Administration (FDA) for its Percept RC Deep Brain Stimulation (DBS) system. This rechargeable neurostimulator is the latest addition to the Medtronic Percept family, which also includes the Percept PC neurostimulator, BrainSense technology, and SenSight directional leads.
Market Drivers
Rising Incidence of Neurological Disorders Driving the Neurological Implants Market
The increasing prevalence of neurological disorders is a major factor fueling the growth of the global neurological implants market, a trend expected to continue throughout the forecast period.
Conditions such as Parkinson’s disease, Alzheimer’s disease, epilepsy, and chronic pain affect millions worldwide, creating a rising demand for effective treatment solutions that improve patient outcomes and quality of life. A significant study published in The Lancet Neurology—conducted in collaboration with the World Health Organization (WHO)—revealed that over 3 billion people globally were living with a neurological condition in 2021. The burden of these disorders, measured in disability-adjusted life years (DALYs), has increased by 18% since 1990, making neurological conditions the leading cause of ill health and disability worldwide.
Notably, more than 80% of deaths and health loss linked to neurological disorders occur in low- and middle-income countries. A stark disparity in access to care exists, with high-income nations having up to 70 times more neurological specialists per 100,000 people than lower-income regions. These factors collectively drive the demand for neurological implants.
Devices such as deep brain stimulation (DBS) implants have demonstrated effectiveness in alleviating symptoms of movement disorders and epilepsy by delivering targeted electrical impulses to specific brain regions. For patients unresponsive to traditional medications, these implants offer a promising alternative.
Industry players continue to drive market growth through innovation and product development. For instance, in July 2024, Mint Neurotechnologies Ltd (MintNeuro) launched the “EXPLORE” project, backed by a £100,000 grant from Innovate UK through the Biomedical Catalyst Feasibility Competition 2023. Building on the success of the previous DREAM project, this initiative aims to expand MintNeuro’s advanced neural sensing technology beyond its initial application in Drug-Resistant Epilepsy.
With rising disease prevalence, technological advancements, and increasing investment in neurological research, the global neurological implants market is poised for significant expansion in the coming years.
Download Free Sample PDF: https://www.datamintelligence.com/download-sample/neurological-implants-market
Market Regional Share
North America’s Leading Role in the Global Neurological Implants Market
North America holds a significant share in the global neurological implants market and is expected to maintain its dominance throughout the forecast period.
The rising prevalence of neurological disorders, driven by an aging population and lifestyle changes, is a key factor contributing to market growth. According to Alzheimer’s Disease Facts and Figures (February 2021), the number of individuals living with Alzheimer’s dementia in the U.S. is projected to increase from 5.8 million in 2021 to 14.3 million by 2060. Similarly, over 1 million Americans are diagnosed with Parkinson’s disease, and approximately 5.1 million live with epilepsy.
Deep brain stimulation (DBS) systems with advanced sensing capabilities are now available, enabling physicians to personalize treatments for movement disorders such as Parkinson’s disease, essential tremor, dystonia, and epilepsy. In the U.S., over 11 million people are affected by movement disorders, while around 3.4 million live with epilepsy, further driving the demand for neurological implants.
Customize Your Scope: https://www.datamintelligence.com/customize/neurological-implants-market
Market Segments
By Product Type
• Deep Brain Stimulators
• Vagus Nerve Stimulators
• Spinal Cord Stimulators
• By Material
• Silicon
• Tungsten
• Platinum-iridium
• Nanotubes
• Others
By Application
• Chronic Pain
• Parkinson's Disease
• Epilepsy
• Depression
• Essential Tremor
• Alzheimer's Disease
By End-User
• Hospitals
• Neurology Clinics
• Others
Market Key Players
Key players are Medtronic, Boston Scientific Corporation, NeuroPace Inc., Abbott Laboratories, Aleva Neurotherapeutics, Renishaw PLC, NEVRO CORP., Synapse Biomedical Inc. and LivaNova PLC.
Recent Development
In January 2024, Medtronic plc announced that it has received approval from the U.S. Food and Drug Administration (FDA) for its Percept RC Deep Brain Stimulation (DBS) system. This rechargeable neurostimulator is the latest addition to the Medtronic Percept family, which also includes the Percept PC neurostimulator, BrainSense technology, and SenSight directional leads.
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results