At 12.8% CAGR, the Asia Pacific Brain Implants Market is Projected to be Worth US$ 3,536.70 million by 2030, Says Business Market Insights

According to Business Market Insights research, the Asia Pacific brain implants market was valued at US$ 1,346.12 million in 2022 and is expected to reach US$ 3,536.70 million by 2030, registering a CAGR of 12.8% from 2022 to 2030. Surging prevalence of neurological disorders with increasing geriatric population and rising number of spinal cord injuries are among the critical factors attributed to the Asia Pacific brain implants market expansion.

As per the study "Spinal Cord Injuries," published in May 2022, 250,000-500,000 patients worldwide suffer a spinal cord injury (SCI) yearly. According to the article "Epidemiology of traumatic spinal cord injuries: a large population-based study," published in April 2022, the overall age-sex-standardized incidence rate of traumatic spinal cord injuries was 26.5 per 1 million population, and the rates were directly related to age in both the genders. Moreover, the incidence rate of traumatic spinal cord injuries is 59.2 per 1 million and 23.3 per 1 million in males and females, respectively, in people aged 65 and above. Spinal cord stimulators are implantable devices that help block pain signals sent from the brain. Therefore, increasing cases of spinal cord injuries fuel the demand for spinal cord stimulators, which in turn drives the growth of the brain implants market.

On the contrary, high cost associated with brain implant devices and procedures hampers the growth Asia Pacific brain implants market.

Based on treatment, the Asia Pacific brain implants market is classified into deep brain stimulation, spinal cord stimulation, vagus nerve stimulator, invasive and non-invasive brain-computer interface, responsive neurostimulation for seizures, auditory brainstem implant, and ophthalmic aid/implant. The spinal cord stimulation segment held 37.4% share of the Asia Pacific brain implants market in 2022, amassing US$ 503.69 million. It is projected to garner US$ 907.94 million by 2030 to expand at 7.6% CAGR during 2022-2030. Further, the auditory brainstem implant segment is bifurcated into retrocochlear hearing impairment and cochlear hearing impairment.

Based on application, the Asia Pacific brain implants market is categorized into chronic pain, Parkinson's disease, Alzheimer's disease, epilepsy, essential tremor, depression, dystonia, amyotrophic lateral sclerosis (ALS), and neurofibromatosis 2. The chronic pain segment held 38.4% share of the Asia Pacific brain implants market in 2022, amassing US$ 517.47 million. It is projected to garner US$ 1,306.08 million by 2030 to expand at 12.3% CAGR during 2022-2030.

Based on end user, the Asia Pacific brain implants market is bifurcated into hospitals and specialized clinics/neurological centers. The hospitals segment held 72.1% share of the Asia Pacific brain implants market in 2022, amassing US$ 970.77 million. It is projected to garner US$ 2,722.17 million by 2030 to expand at 13.8% CAGR during 2022-2030

Based on country, the Asia Pacific brain implants market is categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China held 27.6% share of Asia Pacific brain implants market in 2022, amassing US$ 370.93 million. It is projected to garner US$ 1,030.49 million by 2030 to expand at 13.6% CAGR during 2022-2030.

Key players operating in the Asia Pacific brain implants market are Abbott Laboratories, Boston Scientific Corp, Medtronic Plc, NeuroSky Inc, Renishaw Plc, and Synchron Inc among others.

• In June 2023; Boston Scientific Corp received US Food and Drug Administration (FDA) approval for the Vercise Neural Navigator 5 Software, which when used as part of the Vercise Genus Deep Brain Stimulation (DBS) Systems. It provides clinicians with simple and actionable data for efficient programming in the treatment of people living with Parkinson's disease or essential tremor.
  
  
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