South & Central America Brain Implants Market

The South & Central America brain implants market was valued at US$ 366.05 million in 2022 and is expected to reach US$ 730.98 million by 2030; it is estimated to grow at a CAGR of 9.0% from 2022 to 2030.

Strategic Initiatives by Companies Fuels South & Central America Brain Implants Market

Companies operating in the brain implants market constantly focus on strategic developments such as product approvals, collaborations, expansions, agreements, and new product launches, which help them improve their sales, expand their geographic reach, and enhance their capacities to cater to a greater than existing customer base. For example, in December 2022, Abbott launched the Eterna spinal cord stimulation (SCS) system, which is the smallest implantable, rechargeable SCS system available on the market for the treatment of chronic pain. The company's portfolio of neuromodulation devices also includes Proclaim XR, the recharge-free SCS system, and Proclaim Plus featuring FlexBurst360.

Brain implant manufacturers are taking steps to expand their operations around the world and launch their products in different regions, which is expected to boost the market penetration and accessibility of their offerings. Therefore, product introduction and strategic moves such as approvals, expansions, and acquisitions create significant growth opportunities in the South & Central America brain implants market.

South & Central America Brain Implants Market Overview

The South & Central America brain implants market is segmented into Brazil, Argentina, and the Rest of South & Central America. South & Central America will likely account for over 9.0% of the brain implant market during 2022-2030. The prevalence of neurological disorders, such as Parkinson's disease and Alzheimer's disease, has been linked to the aging population in Brazil. According to the data from the Pan American Health Organization (PAHO), Brazil has over 30 million people aged 60 years and above, representing 13% of the country's population. By 2030, this age group is expected to reach ~50 million, representing 24% of the Brazilian population. As per the Brazilian Institute of Country and Statistics, the country's population aged 65 and above is expected to hold a 36% share of the total population of Brazil by 2050. As per the study, "Trends in mortality from Alzheimer's disease in Brazil, 2000-2019," published in 2023, in Brazil, Alzheimer's disease has become a major health concern since the population is increasingly aging, coupled with the increasing mortality rates and the growing prevalence of the disease in the country in recent years. There was a 49% increase in deaths due to Alzheimer's disease between 2009 and 2019 in the country, making it the seventh leading cause of death. More than 211,600 deaths were due to Alzheimer's disease in the same period in Brazil, 64% of which were female. Furthermore, 73% of the deaths were related to people aged 80 and above, and 27% were in the 60-79 age group. Thus, the abovementioned factors are expected to increase the demand for brain implants for the treatment of these neurological diseases in the country in the coming years.

South & Central America Brain Implants Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Brain Implants Market Segmentation

The South & Central America brain implants market is segmented into treatment, application, end user, and country.

Based on treatment, the South & Central America brain implants market is classified into deep brain stimulation, spinal cord stimulation, vagus nerve stimulator, invasive and non-invasive brain-computer interface, responsive neurostimulation for seizures, auditory brainstem implant, and ophthalmic aid/implant. The spinal cord stimulation segment held the largest share in 2022. Further, the auditory brainstem implant segment is bifurcated into retrocochlear hearing impairment and cochlear hearing impairment. The spinal cord stimulation segment held the largest share in 2022.

In terms of application, the South & Central America brain implants market is categorized into chronic pain, Parkinson's disease, Alzheimer's disease, epilepsy, essential tremor, depression, dystonia, amyotrophic lateral sclerosis (ALS), and neurofibromatosis 2. The chronic pain segment held the largest share in 2022.

Based on end user, the South & Central America brain implants market is bifurcated into hospitals and specialized clinics/neurological centers. The hospitals segment held the largest share in 2022.

Based on country, the South & Central America brain implants market is segmented Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America brain implants market in 2022.

Abbott Laboratories, Boston Scientific Corp, Medtronic Plc, and Renishaw Plc are some of the leading companies operating in the South & Central America brain implants market.

South & Central America Brain Implants Strategic Insights

Strategic insights for the South & Central America Brain Implants provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Brain Implants Report Scope

South & Central America Brain Implants Regional Insights

The geographic scope of the South & Central America Brain Implants refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.