The Asia-Pacific neural implants market is estimated to witness a strong CAGR of 9.2% during the forecast period (2021-2027). Although the penetration of neural implants in the region is much lower than that of developed economies, Asia-Pacific poses an immense growth potential for the adoption and usage of these products during the forecast period. Emerging countries such as China and India are witnessing phenomenal growth in their GDPs. Thus, with an increase in GDP, there is a growth in the per capita disposable income of the population in these countries. For instance, as per the government stats, the per capita income of India increased from $1,963.55 in 2017 to $2,041.09 in 2019. According to the WHO, the increase in healthcare expenditure has contributed to improvements in healthcare infrastructure in the Asia-Pacific region. In addition, healthcare providers are committed to providing advanced care to patients, which will further contribute to the higher demand for neural implants.
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In addition, epilepsy affects around 1% of the population of the South-East Asia region of WHO, which is approximately 15 million people with epilepsy in the region. In addition, the prevalence of chronic pain in Asian adults ranges between 7% in Malaysia to 90% in China’s elderly population. Further, the age-standardized prevalence of depression in South Asia was around 3.9% in 2016. Thus, owing to such a higher disease burden, Asia-Pacific serves as an attractive market destination for many global and local vendors.
Market Coverage
- Market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segments Covered- by Product, Application, and End-user
- Countries Covered- China, India, Japan, and Rest of Asia-Pacific
- Competitive Landscape- Abbott, Beijing PINS Medical Co., Ltd., Boston Scientific Corporation, Medtronic, and Renishaw plc
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
Ø Recovery Timeline
Ø Deviation from pre-COVID forecast
Ø Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia-Pacific Neural Implants Market Report Segment
By Product
- Deep Brain Stimulation (DCS)
- Spinal Cord Stimulation (SCS)
- Vagus Nerve Stimulation (VNS)
By Application
- Chronic Pain
- Epilepsy
- Parkinson’s Disease (PD)
- Others (Depression and Other Movement Disorders)
By End-user
- Hospitals
- Outpatient Surgery Centres
- Specialized Neurological Centres (SNCs)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
