How Is Mental Health Awareness Encouraging Brain Implant Devices Adoption?

The World Health Organization (WHO) introduced the WHO Special Initiative for Mental Health (2019–2023): Universal Health Coverage for Mental Health, in 2019, to ensure access to affordable and quality care for mental health conditions in 12 priority nations to an additional 100 million people. With such program, the WHO aims to provide effective treatments and improve existing treatments for all mental disorders. Thus, the rising public awareness regarding mental illnesses and neurological disorders, owing to such initiatives, will promote the adoption of brain implant devices across the world.

Access Report Summary - Brain Implant Market Global Industry Analysis and Demand Forecast Report

Moreover, the surging healthcare expenditure and the rising geriatric population will strengthen the brain implant market in coming years. According to P&S Intelligence, the market revenue is expected to surge from $4.5 billion in 2020 to $9.5 billion by 2030. As per the United Nations Population Fund (UNFPA), by 2050, around 22% of the world population will be 60 years and older. Elderly people need extensive care, as they are extremely susceptible to neurological illnesses, such as epilepsy, essential tremors, depression, Parkinson's, and Alzheimer's disease. 

The aforementioned companies are manufacturing spinal cord stimulation devices, deep brain stimulation devices, and vagus nerve stimulation devices for patients living with chronic pain, essential tumor, Alzheimer's disease, Parkinson's disease, depression, and epilepsy. In contemporary times, deep brain stimulation devices are being adopted in the highest quantity due to their ability to reduce stiffness, walking difficulties, and slowness in people suffering from neurological disorders. These brain implant devices have proven effective for people who have not responded to medication for at least five years. 

Geographically, North America is expected to lead the brain implant market in the upcoming years, due to the surging elderly population, increasing frequency of product approvals, and rising technological developments in brain implants. Moreover, the growing prevalence of neurological disorders and soaring healthcare expenditure will encourage more people to opt for brain implant devices in the region. For instance, the Centers for Disease Control and Prevention (CDC) estimated that around 5.8 million Americans were surviving with Alzheimer's disease in 2020. The CDC also states that 12,000–15,000 people in the U.S. live with amyotrophic lateral sclerosis (ALS).