Neurological Implants Market Size & Growth Report to 2030

Key Findings:

• The market is estimated to register a higher CAGR of ~ 11% from 2024 to 2030
• By implants type, the deep brain stimulation segment held the largest revenue share of over 1/3 market share in 2023
• Geographically, North America estimated to dominate the market by 2030 owing to the increasing prevalence of neurological disorders

The global neurological implants market is estimated to grow at a higher CAGR of around 11% during the forecast period from 2024 to 2030. The market is propelled by several key drivers, with the increasing prevalence of neurological disorders being a primary catalyst. Rising incidences of conditions like Parkinson’s disease, epilepsy, and chronic pain contribute to a growing patient pool seeking effective treatment options. The notable increase in Parkinson’s disease diagnoses, as highlighted by a 50% rise to 90,000 yearly cases in the U.S. according to the Parkinson’s Foundation’s 2022 study, underscores the urgency for advanced therapeutic interventions. Additionally, technological advancements in neurostimulation and implantable devices, coupled with ongoing research and development initiatives, fuel the market’s growth. The quest for improved patient outcomes, coupled with the expanding aging population globally, emphasizes the need for innovative neurological implants, driving both market expansion and the evolution of cutting-edge solutions in neurology.

Market Snapshot:

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Market Trends:

Advancements in Neurostimulation Technologies: The field of neurostimulation is witnessing continuous advancements aimed at enhancing the efficacy and precision of neurological implants. These advancements include improvements in electrode design, allowing for more targeted stimulation of specific neural pathways. Moreover, miniaturization of devices enables more minimally invasive implantation procedures, reducing patient discomfort and recovery times. Additionally, the integration of smart technologies, such as adaptive algorithms and closed-loop systems, enables real-time adjustments in stimulation parameters based on patient feedback and neural activity, resulting in more personalized treatment outcomes.

Expanding Applications in Various Neurological Disorders: While neurological implants have traditionally been associated with conditions like Parkinson’s disease, their applications are expanding to include a broader spectrum of neurological disorders. For instance, in the treatment of epilepsy, neurostimulation devices can help reduce the frequency and severity of seizures. Similarly, implants are being explored as potential treatment options for chronic pain management, offering patients alternative therapies to conventional medications. This expansion of applications reflects the growing recognition of neurological implants as versatile tools for addressing a range of neurological conditions.

Focus on Closed-Loop Systems: Closed-loop or responsive neurostimulation systems represent a significant advancement in the field of neurological implants. These systems have the capability to monitor neural activity in real-time and adjust stimulation parameters accordingly. By incorporating feedback mechanisms, closed-loop systems can optimize treatment efficacy while minimizing side effects. This trend underscores the industry’s commitment to developing more adaptive and patient-centric treatment modalities that offer improved outcomes and quality of life for individuals living with neurological disorders.

Wireless and Remote-Controlled Implants: The integration of wireless and remote-controlled capabilities into neurological implants is revolutionizing patient care and management. Wireless technologies enable seamless communication between the implant and external devices, allowing for remote programming and monitoring. Patients benefit from greater convenience and flexibility in adjusting device settings, while healthcare providers can remotely collect and analyze patient data to optimize treatment strategies. This trend represents a significant step forward in enhancing patient engagement and improving overall treatment outcomes in the field of neurological implantation.

Bioelectronic Medicine and Neuromodulation: The emerging field of bioelectronic medicine is driving innovation in neuromodulation therapies and neurological implants. By leveraging principles of neuroscience and bioelectronics, researchers are exploring novel approaches to modulate neural circuits and restore physiological function. Bioelectronic devices, including neural interfaces and neuromodulatory implants, hold promise for treating a variety of neurological conditions, from movement disorders to psychiatric illnesses. This trend reflects the growing recognition of the interconnectedness between neural circuits and bodily functions, paving the way for more targeted and effective treatment modalities in neurology.

Market Challenges:

The neurological implants market faces several challenges that impact its development and widespread adoption. One significant challenge is the intricate nature of the nervous system and the complexity of neurological disorders, which pose difficulties in developing universally effective implant solutions. The need for precise targeting and customization of implants for individual patients adds to the complexity and raises concerns about standardization. Moreover, the high cost associated with the development and acquisition of neurological implants, coupled with limited reimbursement options, may hinder accessibility for a broader patient population. Additionally, regulatory challenges in obtaining approvals for new implantable devices, given the intricacies of interfacing with the nervous system, can lead to extended development timelines and increased costs for manufacturers.

Market Opportunities:

The neurological implants market presents promising opportunities driven by a confluence of factors. The increasing prevalence of neurological disorders, coupled with a growing aging population globally, creates a substantial market for innovative implantable solutions. Advancements in neurotechnology, including miniaturization, improved electrode designs, and adaptive closed-loop systems, open avenues for more effective and patient-specific treatments. The expansion of applications beyond traditional disorders to include conditions like epilepsy, chronic pain, and psychiatric illnesses broadens the market scope. Furthermore, the rising focus on bioelectronic medicine and neuromodulation techniques offers opportunities for pioneering therapies.

Market Insights:

The global neurological implants market is bifurcated into implants type, application, end-user, and geography. On the basis of implants type, the market is further segmented into deep brain stimulation (DBS) implants, spinal cord stimulation (SCS) implants, and vagus nerve stimulation (VNS) implants. The deep brain stimulation segment dominated the market and estimated to hold the largest revenue share of over 1/3 market share by the end of the analysis period. The dominance is rooted in the clinical significance of DBS, primarily for the treatment of prevalent movement disorders such as Parkinson’s disease and essential tremor. DBS has a well-established track record, with extensive clinical use and a history of positive patient outcomes. Ongoing advancements in DBS technology, including improvements in electrode design and expanded indications beyond movement disorders, contribute to its sustained dominance. Moreover, the broader acceptance of DBS among healthcare professionals and its familiarity in clinical practice solidify its position as a leading segment in the market.

Deep Brain Stimulation (DBS) Implants: DBS implants are a cornerstone in the treatment of movement disorders, such as Parkinson’s disease and essential tremor. The market for DBS implants is driven by the increasing prevalence of these disorders, coupled with the growing recognition of DBS as an effective therapeutic option. Advancements in electrode design, targeting accuracy, and programmability contribute to the expanding adoption of DBS implants. The ongoing research and development endeavors are focused on refining the technology to address a broader range of neurological conditions beyond movement disorders.

Spinal Cord Stimulation (SCS) Implants: SCS implants play a pivotal role in managing chronic pain conditions, offering an alternative for patients who may not respond well to traditional pain management approaches. The market for SCS implants is influenced by the rising incidence of chronic pain, coupled with the demand for non-pharmacological solutions. Technological innovations, including enhanced electrode designs and improved programming capabilities, contribute to the efficacy and acceptance of SCS implants. The market continues to evolve with efforts to broaden the indications for SCS use, including neuropathic pain associated with various medical conditions.

Vagus Nerve Stimulation (VNS) Implants: VNS implants have established themselves as a viable option for treating epilepsy and treatment-resistant depression. The market for VNS implants is driven by the increasing prevalence of these conditions and the need for alternative therapeutic interventions. Ongoing research explores the potential application of VNS implants in additional neurological and psychiatric disorders, expanding the market scope. Innovations in VNS technology, such as closed-loop systems and responsive stimulation, contribute to the attractiveness of these implants for both patients and healthcare providers.

The neurological implants market research report presents the analysis of each segment from 2020 to 2030 considering 2023 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2024 to 2030.

Historical & Forecast Period

• 2020-22 – Historical Year
• 2023 – Base Year
• 2024-2030 – Forecast Period

Market Segmentation:

By Implants Type:

• Deep Brain Stimulation (DBS) Implants
• Spinal Cord Stimulation (SCS) Implants
• Vagus Nerve Stimulation (VNS) Implants

By Application:

• Parkinson’s Disease
• Chronic Pain
• Epilepsy
• Depression
• Others

By End-User:

• Hospitals and Clinics
• Ambulatory Surgical Centers
• Research and Academic Institutes

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

Geographically, North America dominated the global neurological implants market in the benchmark year and estimated to maintain its dominance over the forecast period by 2030. The dominance is attributed to the region’s advanced healthcare infrastructure, characterized by cutting-edge medical facilities, research institutions, and a skilled workforce. The prevalence of neurological disorders, such as Parkinson’s disease, epilepsy, and chronic pain, is notably high in North America, fostering a robust demand for innovative and effective treatment modalities. Additionally, the region’s commitment to technological advancements is evident through ongoing research initiatives and collaborations, positioning North America at the forefront of developing and adopting sophisticated neurological implant technologies. Early adoption of novel medical solutions by both healthcare providers and patients further solidifies the region’s leading role in the integration of advanced neurostimulation therapies.

The Asia Pacific is estimated to register the fastest Compound Annual Growth Rate (CAGR) by 2030 in the neurological implants market aligns with several key factors. The region is experiencing a notable increase in healthcare investments, fostering advancements in medical technologies and infrastructure. Additionally, the rising prevalence of neurological disorders in Asia Pacific, coupled with a growing aging population, contributes to an expanding patient pool seeking neurological interventions. As awareness of neurological conditions increases, there is a heightened demand for advanced treatment options, including neurological implants, to address a broader spectrum of disorders.

Furthermore, the Asia Pacific region is witnessing increased collaboration between healthcare institutions, research organizations, and industry players, driving innovation and the development of novel neurological implant technologies. Governments in the region are also focusing on improving healthcare access and affordability, which contribute to the adoption of neurostimulation therapies. The potential for a faster CAGR reflects the dynamic nature of the healthcare landscape in Asia Pacific, presenting a significant growth opportunity for the neurological implants market in the coming years.

Competitive Landscape:

Some of the major market players operating in the global neurological implants market are Abbott Laboratories, Medtronic PLC, NeuroPace Incorporation, Nevro Corporation, and Aleva Neurotherapeutics SA. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Recent Developments:

• In 2022, the FDA granted approval for brain stimulation software to be utilized in treating Parkinson’s disease. The Vercise Neural Navigator with Stimview XT enables clinicians to visualize lead placement and stimulation modeling, offering patient-specific 3D modeling for tailored therapeutic customization. The software is designed to assist in lead placement, reduce programming time, and enhance treatment decisions through informed insights.
• In 2021, Abbott introduced the NeuroSphere Virtual Clinic, a groundbreaking FDA-approved tool that allows deep brain stimulation patients to remotely program and reset their devices from the comfort of their homes. This innovation eliminates the need for patients to travel to specialists for device adjustments, offering a more convenient and accessible approach to neurostimulation therapy.
• In 2019, Aleva Neurotherapeutics received CE approval for its Deep Brain Stimulation Devices and secured USD 8 million in private equity funding. Aleva’s pioneering DBS system incorporates directional electrode technology, aiming for greater precision and efficiency with customized stimulation to potentially minimize side effects. The company highlights its distinction as the sole emerging technology company with the CE-Mark for Deep Brain Stimulation, marking a significant milestone in the field.

Key Companies:

• Abbott Laboratories
• Medtronic PLC
• NeuroPace Incorporation
• Nevro Corporation
• Aleva Neurotherapeutics SA
• Synapse Biomedical Incorporation
• Boston Scientific Corporation
• Sapiens Neuro
• Edwards Lifesciences Corporation

Key Questions Answered by Neurological Implants Market Report

• Global neurological implants market forecasts from 2024-2030
• Regional market forecasts from 2024-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2024-2030 covering 15 major countries from the regions as mentioned above
• Neurological implants submarket forecasts from 2024-2030 covering the market by implants type, application, end-user, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level neurological implants markets from 2024-2030
• Competitive Landscape and market positioning of top 10 players operating in the market