With the surging geriatric population in several countries, on account of the falling death rates and increasing life expectancy of people, the demand for brain implants is growing rapidly across the world. As per the findings of the United Nations (UN), the share of people aged 65 years and above in the global population increased from 6% in 1990 to 9% in 2019. Furthermore, the share will to rise to 16% by 2050, as per the estimates of the UN.
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Additionally, according to the 2020 World Population Aging report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. As geriatric people are highly vulnerable to various neurological diseases such as Parkinson’s, epilepsy, essential tremors, depression, and Alzheimer’s, their soaring population is augmenting the need for brain implants.
Spinal cord stimulation, vagus nerve stimulation, and deep brain stimulation are the most commonly used types of brain implant procedures around the world. Out of these, the demand for deep brain stimulation treatments is expected to surge sharply in the upcoming years. This will be because of the several advantages of deep brain stimulation over the other treatment procedures such as reduced stiffness, lesser difficulties in walking, and quicker reaction times. This treatment is usually prescribed to the patients who show no improvement in their condition from therapies over a period of at least five years.
Across the globe, the brain implant market will register the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be because of the surging investments being made in research and development activities for developing long-term treatment procedures for psychiatric and neurodegenerative diseases and the presence of a rapidly improving healthcare infrastructure in the region.
Therefore, the demand for brain implants will rise tremendously in the forthcoming years, mainly because of the surging population of geriatric people and the rising prevalence of neurological diseases all over the world.
