SAN FRANCISCO, Sept. 7, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Brain Implants – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: April 2021
Executive Pool: 10773
Companies: 44 – Players covered include Abbott Laboratories; Abiomed, Inc.; Aleva Neurotherapeutics SA; Boston Scientific Corporation; Cochlear Ltd.; Edwards Lifesciences Corporation; Ekso Bionics; Medtronic PLC; NDI Medical; NeuroPace, Inc.; Nevro Corp.; Terumo Corporation and Others.
Coverage: All major geographies and key segments
Segments: Segment (Deep Brain Stimulation, Spinal Cord Stimulation, Vagus Nerve Stimulation)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Brain Implants Market to Reach $7 Billion by 2026
Amid the COVID-19 crisis, the global market for Brain Implants estimated at US$3.7 Billion in the year 2020, is projected to reach a revised size of US$7 Billion by 2026, growing at a CAGR of 11.2% over the analysis period. Deep Brain Stimulation, one of the segments analyzed in the report, is projected to record a 11.8% CAGR and reach US$3.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Spinal Cord Stimulation segment is readjusted to a revised 11% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.2 Billion in 2021, While China is Forecast to Reach $1.2 Billion by 2026
The Brain Implants market in the U.S. is estimated at US$1.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2026 trailing a CAGR of 10.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.8% and 9.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8% CAGR.
Vagus Nerve Stimulation Segment to Reach US$824.6 Million by the year 2026
In the global Vagus Nerve Stimulation segment, USA, Canada, Japan, China and Europe will drive the 9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$386.8 Million in the year 2020 will reach a projected size of US$707.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.