Apr 01, 2021: Industry Insights
Global Brain Implants Market size is expected to reach USD 8.29 billion by 2025 as the scope and its applications are rising enormously across the globe. Brain implants is also termed as neural implants, are mechanical systems that are usually used to invigorate structures and parts of the nervous system with the help of the record the electrical activity of nerve cells or implanted electrical circuitry. These devices are attached to the brain cortex or placed on the surface of the brain. Brain Implants Market size is expected to grow at a CAGR of 11.9%.
Brain implants, often referred to as neural implants, are technological devices that connect directly to a biological subject's brain – usually placed on the surface of the brain, or attached to the brain's cortex. A common purpose of modern brain implants and the focus of much current research is establishing a biomedical prosthesis circumventing areas in the brain that have become dysfunctional after a stroke or other head injuries. This includes sensory substitution, e.g., in vision. Other brain implants are used in animal experiments simply to record brain activity for scientific reasons.
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Rising use of enhanced technology in brain implants, growing occurrence of Parkinson’s disease, high demand for brain implants, growing disposable income in established countries are documented as major factors of Brain Implants Market size that are estimated to enhance the growth in the years to come. However, high cost of brain implants and presence of alternative enhanced technological inventions are the factors that may restrain overall market growth in the years to come.
This mechanical system enhances memory, senses, and physical movement and communicates with the nervous system. Neural implants have been used to support people recover abilities that have been vanished. It includes generating interfaces between neural systems and computer chips, generally named brain-machine interfaces. A mutual drive of modern brain implants and the emphasis of current research is founding a biomedical prosthesis evading areas in the brain that became dysfunctional after head injuries or stroke. This comprises sensory replacement, e.g. in vision.
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Brain Implants Market size is segmented based on product types, applications, and region. Vagus nerve stimulator (VNS), deep brain stimulator (DBS), and spinal cord stimulator (SCS) are the product types that could be explored in Brain Implants in the forecast period. In 2016, deep brain stimulator sector accounted for the largest market share of 37.0% in terms of revenue and is estimated to lead the overall market in the coming years. This may be because of rising use in numerous applications and growing occurrence of Parkinson’s disease. Moreover, it is exclusively used to treat numerous neurological disorders like Alzheimer’s disease, obsessive-compulsive disorder (OCD), epilepsy, dystonia, and essential tremor. Also, Vagus nerve stimulator is estimated to grow at fastest pace in the coming years, as rising occurrence of epilepsy.
The market may be categorized based on applications like Alzheimer’s disease, chronic pain, essential tremor, epilepsy, depression, Parkinson’s disease, and others. Chronic pain segment accounted for the largest market share in 2016 and is estimated to continue its dominance in the coming years. This may be because of, rising chronic pain due to circumstances like neuropathy, lumbar and radiculitis, complex regional pain syndrome, and failed back surgery and high demand for stimulators used during chronic back and neck pain. According to Pain Doctor Report, in 2017, 14000 patients used spinal cord implants. However, Parkinson’s disease sector is estimated to grow at highest CAGR in the coming years. This may be because of rising occurrence of disease and reduction in coffee consumption and smoking rate.
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Market Analysis The global amyotrophic lateral sclerosis market is anticipated to touch USD 841.6 million at a healthy 7.89% CAGR during the forecast period (2018-2023).
This is a progressive neurological disease where gradually patients become dependent on physicians and caregivers increasingly.
Often ALS results in respiratory failure as the patient loses the ability of controlling the muscles both in the diaphragm and the chest.
Some of these factors as per the Market Research Future (MRFR) report include rising incidences of ALS, increase in awareness among patients, increase in geriatric population, FDA approvals and initiatives taken by the government on R activities.
On the other hand, factors such as low treatment availability and high treatment cost may hinder the growth of the amyotrophic lateral sclerosis market.Amyotrophic Lateral Sclerosis Market SegmentationThe amyotrophic lateral sclerosis market has been segmented based on type, treatment, end-user, and regions.By type, the amyotrophic lateral sclerosis market has been segmented into sporadic ALS and familial ALS.
In the APAC region, the amyotrophic lateral sclerosis market is anticipated to grow rapidly owing to the rapidly expanding healthcare infrastructure, increasing the incidence of ALS, the presence of the growing economies mainly India and China, and increasing setups of R centers.
Nerve Repair and Regeneration Market is anticipated to reach USD 15.7 billion by 2024.
It is anticipated to grow at a healthy rate in the years to come.
On the other hand, high cost and lack of skilled professionals and side effects related to the usage of neuro modulation and neuro stimulation devices are the major factors hampering the Nerve Repair and Regeneration Market growth in the years to come and anticipated to grow at a significant CAGR of 11.6% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
It may be explored by product as Neuro stimulation and Neuro modulation Devices (pertaining to Transcranial Magnetic Stimulation, and Transcutaneous Electrical Nerve Stimulation).
Internal Neuro stimulation Devices include Deep Brain Stimulation, Spinal Cord Stimulation, Gastric Electrical Stimulation, Sacral Nerve Stimulation, and Valgus Nerve Stimulation.
In 2016, the largest market share was held by “Hospital” end user sector in the market due to growing occurrence of neurological prevalence and growth in the number of hospitals in developing economies.
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Global Lightweight Materials Market is expected to reach USD 225.3 billion by 2024.
The Lightweight Materials Market is estimated to grow at a significant CAGR of 8.9% over the future period as the scope and its applications are rising enormously across the globe.Rising energy efficiency, composite material provides more protection upon impact, and advances performance are documented as major factors of Lightweight Materials Market that are estimated to enhance the growth in the years to come.
Also, these materials can be easily installed, low in cost, and maintains its standard are the factors that may boost overall market in coming years.
Plastics sector includes polypropylene and polycarbonate.
However, wind energy sector is estimated to grow at fastest pace in the upcoming years.Globally, North America and Asia Pacific accounted for the majority market share and is estimated to continue their dominance in the coming years.
As such, mergers, acquisitions, and joint ventures are the need of the hour.Market Segment:Lightweight Materials Product Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2024)AluminumHigh Strength SteelTitaniumMagnesiumPolymers & CompositesOthersLightweight Materials Application Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2024)AutomotiveAviationEnergyOtherLightweight Materials Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2024)North AmericaU.S.EuropeGermanyAsia PacificChinaLatin AmericaBrazilMiddle East & Africa Browse Full Research Report with TOC @ https://www.millioninsights.com/industry-reports/lightweight-materials-market Table of ContentsChapter 1.
