Brain Implants Market Share To Record Steady Growth By 2027

Brain implants is a technical system that is mainly used to stimulate parts and structures of the nervous system with the help of implanted electrical circuitry. The implant helps in enhancing senses, physical movement, and memory and hence helps to recover the abilities that is lost. Furthermore, it has given an ability to regain control over senses, limbs, bladder and memory. Brain implants is also known as neural implants. Increasing number of cases of neurological disorder such as Alzheimer, Parkinson’s disease, epilepsy is expected to drive the market for global brain implants market over the forecast period. According to World Health Organization data (WHO), in 2018, estimates around 50 million people globally had epilepsy. According to Parkinson’s Foundation, In US approximately 60,000 people are diagnosed by Parkinson’s disease. Furthermore, continuous development in the devices by manufacturer coupled with increasing number of approvals by health authority is expected to fuel the market growth. To get sample of this report North America market dominates the global brain implants market in terms of revenue contribution as compared to that of markets in other regions. This is attributed to the presence of well-developed healthcare infrastructure and increasing prevalence of neurological disorders in the region. Europe accounts for second-largest revenue share contribution to the global brain implants market, followed by markets in the Asia Pacific, Latin America, and the Middle East & Africa respectively. The market in the Europe is projected to register comparatively faster growth in terms of revenue over the next 10 years owing to the improving healthcare infrastructure, growing ageing population, growing awareness and availability of products in the region.