Global Neural Implants Market Report 2024

The neural implants market size has grown rapidly in recent years. It will grow from $4.89 billion in 2023 to $5.39 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth observed in the historic period can be attributed to several factors, including the expansion of well-established healthcare facilities, an increase in the aging population, a preference for minimally invasive procedures, a rise in demand for personalized treatment options, and the availability of improved healthcare infrastructure.

The neural implants market size is expected to see rapid growth in the next few years. It will grow to $7.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing prevalence of neurological disorders, growing patient awareness regarding new treatment options for neurological conditions, improved availability of effective devices, rising preference for MR-conditional brain implants, and the increased use of high-frequency neuromodulation therapy. Key trends expected in the forecast period encompass product innovations, technological advancements, progress in neuroprosthetics, and the integration of deep learning algorithms into neural implants.

The increasing prevalence of neurological disorders is anticipated to drive the growth of the neural implants market in the foreseeable future. Neurological disorders encompass abnormalities in the nervous system, including the brain, spinal cord, and peripheral nerves, which can be anatomical, biochemical, or electrical in nature. The rise in neurological disorders is attributed to factors such as aging populations, genetic predispositions, and changes in diagnostic criteria. Neural implants play a crucial role in treating and managing various neurological diseases by directly interfacing with the nervous system to restore or enhance neural functions. These implants offer a personalized approach that may improve therapy effectiveness while reducing adverse effects, particularly in conditions such as Parkinson's disease, epilepsy, and spinal cord injuries. For instance, as of March 2022, according to the Alzheimer's Association, nearly 7 million Americans aged 65 and older were living with Alzheimer's dementia, and this figure could increase to 13.8 million by 2060. Additionally, the costs of health and long-term care for individuals with dementia are projected to reach $360 billion in 2024 and nearly $1 trillion in 2050. Hence, the increasing prevalence of neurological disorders is fueling the growth of the neural implants market.

Key players in the neural implant market are concentrating on developing innovative products, such as deep brain stimulation (DBS) devices, to treat movement disorders such as Parkinson's disease and essential tremors, thereby gaining a competitive advantage in the market. Deep Brain Stimulation (DBS) devices are implants used to treat neurological disorders by delivering electrical impulses to specific brain areas. For example, in January 2024, Abbott Laboratories introduced Liberta RC, the world's smallest rechargeable deep brain stimulation (DBS) device with remote programming, designed for individuals with movement disorders. It requires minimal recharges, approximately 10 sessions per year for most users, and is connected to Abbott's NeuroSphere virtual clinic for remote clinician contact, setting confirmation, and updated treatment adjustments. The device includes a wireless charger for convenience, allowing users to remain active while charging. It also offers customizable notifications and settings for a personalized user experience.

In October 2023, Butterfly Network partnered with Forest Neurotech to develop a minimally invasive whole-brain neural interface using ultrasound technology. This collaboration aims to revolutionize brain-computer interfaces and advance personalized treatments for various neurological and cognitive conditions. Forest Neurotech specializes in ultrasound-based brain-computer interfaces (BCIs) and software platforms, contributing to the advancement of neuroscience and patient care.

Major companies operating in the neural implants market are Abbott Laboratories, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, Smith & Nephew plc, Integra LifeSciences, Cochlear Ltd., LivaNova PLC, Renishaw plc, MicroPort Scientific Corporation, Nevro Corp., Inspire Medical Systems Inc., Cyberonics Inc., Axonics Modulation Technologies Inc., Saluda Medical, NeuroPace Inc., Fisher Wallace, BioControl Medical, Cerbomed GmbH, Nuvectra Corporation.

North America was the largest region in the neural implants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neural implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the neural implants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Neural implants, also referred to as brain-computer interfaces (BCIs) or neural prosthetics, are medical devices designed to interact with the nervous system, aiming to restore or enhance neural function. These implants are intended for restoring sensory functions, treating neurological disorders, and enhancing cognitive abilities.

The primary types of neural implant products include Frequency and Burst (F and B) spinal cord stimulation (SCS), deep brain stimulation (DBS), and vagus nerve stimulation (VNS). F and B Spinal Cord Stimulation (SCS) devices are small implants that deliver electrical signals to the spinal cord, aiding in the treatment of chronic pain. They find applications in various conditions such as chronic pain, Parkinson’s disease (PD), epilepsy, among others, and are utilized by various end-users such as hospitals, specialized neurological centers (SNCs), and outpatient surgery centers.

The neural implants market research report is one of a series of new reports that provides neural implants market statistics, including the neural implants industry global market size, regional shares, competitors with neural implants market share, detailed neural implants market segments, market trends, and opportunities, and any further data you may need to thrive in the neural implants industry. These neural implants market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The neural implants market consists of sales of electrodes, implantable devices, connectivity modules, surgical tools, and accessories. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.