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Brain Implants Market 2021 Analysis by Overview, Growth, Top Companies, Demand and Forecast to 2028

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Daniel Boards
Brain Implants Market 2021 Analysis by Overview, Growth, Top Companies, Demand and Forecast to 2028

The global brain implants market size was valued at USD 4.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.1% from 2021 to 2028. Increasing incidence of neurological conditions such as Parkinson’s disease, Alzheimer’s, and epilepsy, coupled with increasing awareness regarding brain implant benefits, and positive research outcomes are among the major factors driving the growth of the overall market.

The increasing prevalence of neurological disorders is a high-impact rendering driver for the market. For instance, according to the WHO, neurological diseases contribute 6.3% to the global disease burden and are one of the major causes of mortality worldwide, resulting in 13.2% deaths in developed countries and 16.8% in low- and middle-income countries. This has created clinical urgency for the incorporation of long-term solutions such as spinal cord stimulators and deep brain stimulators. Moreover, the global prevalence of stress and obesity-induced depression is constantly increasing. As per the National Institute of Mental Health (NIHM), in 2016, 16.2 million adults had been through at least one major depressive episode in the U.S. Brain implants have been proved to play a crucial role in providing therapeutic solutions for depression. 

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Daniel Boards
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