Implanted Brain-Computer Interface (BCI) Devices - Market Insights, Competitive Landscape, and Market Forecast - 2032

Implanted Brain-Computer Interface (BCI) Devices Market by Product (Hardware and Software), Approach (Invasive BCI and Minimally invasive BCI), Application (Epilepsy, Brain Injury, Depression, Stroke, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to grow at a steady CAGR forecast till 2032 owing to the growing prevalence of neurological and movement disorders and increasing technological innovations in BCI devices

The implanted brain-computer interface (BCI) devices market is estimated to grow at a CAGR of 10.42% during the forecast period from 2025 to 2032. The demand for implanted brain-computer interface (BCI) devices is significantly driven by the increasing prevalence of neurological and movement disorders and a rising number of patients experiencing hearing and vision loss. Additionally, the growing adoption of digital health solutions is reshaping the landscape of patient care, further fueling market growth. Key factors contributing to this upward trend include increasing research and development activities and strategic collaborations among leading players to develop more advanced BCI devices. These developments are expected to play a pivotal role in propelling the implanted BCI devices market during the forecast period from 2025 to 2032.

Implanted Brain-Computer Interface (BCI) Devices Market Dynamics:

The rising prevalence of neurological and movement disorders is poised to drive market growth for implanted brain-computer interface (BCI) devices. The data provided by the World Health Organization (WHO) in April 2024, mentioned that approximately 15.4 million people were living with spinal cord injury in 2021 worldwide.

According to data provided by UK Research and Innovation in 2022, approximately 10 million people are affected by traumatic brain injury every year in the world. Implanted BCI devices play a crucial role in evaluating brain function after TBI, offering vital insights into the extent of brain damage and guiding treatment decisions. This increasing incidence of neurological disorders is creating a heightened demand for implanted BCI devices, thereby propelling market growth.

According to recent data from the World Health Organization (WHO) in 2024, approximately 50 million people worldwide were living with epilepsy in 2023, with around 5 million new diagnoses occurring each year, making epilepsy one of the most common neurological disorders globally. As per the same source in 2023, over 55 million people were living with dementia, with more than 60% of these individuals located in low- and middle-income countries. Each year, nearly 10 million new cases are diagnosed on average. Implanted BCIs can monitor brain activity to detect abnormal electrical patterns associated with seizures, providing real-time data that can help manage epilepsy more effectively. Such increasing prevalence of movement disorders is expected to foster the market growth.

The increasing prevalence of hearing and vision loss is anticipated to significantly drive market growth for implanted brain-computer interface (BCI) devices. According to data from the World Health Organization (WHO) in March 2023, over 190 million people in Europe were living with hearing loss, a figure expected to surpass 230 million by 2050. Implanted BCI devices play a crucial role in restoring hearing, providing individuals with improved auditory experiences. As the number of people affected by hearing loss continues to rise, the demand for these innovative BCI devices is set to grow, further propelling market expansion.

Key players increasingly focus on technological innovations to develop advanced implanted brain-computer interface (BCI) devices that integrate cutting-edge technologies. For instance, in November 2022 Blackrock Neurotech, a U.S. based company launched Neuralace(TM). This next-generation neural interface is engineered with diverse materials and patterns to connect with extensive areas of the brain's surface. Neuralace is designed to perform complex functions without relying on assistive technologies, offering groundbreaking solutions for vision and memory restoration, performance prediction, and the treatment of mental health disorders. Such innovative product developments not only enhance the capabilities of BCI devices but also significantly drive market growth.

However, the complications and safety concerns associated with implanted BCI devices and high cost of BCI devices, among others are some of the key constraints that may limit the growth of the implanted brain-computer interface (BCI) devices market.

Implanted Brain-Computer Interface (BCI) Devices Market Segment Analysis:

Implanted Brain-Computer Interface (BCI) Devices Market by Product (Hardware and Software), Approach (Invasive BCI and Minimally invasive BCI), Application (Epilepsy, Brain Injury, Depression, Stroke, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the implanted brain-computer interface (BCI) devices market, the hardware category is estimated to amass a significant revenue share in the implanted brain-computer interface (BCI) devices market in 2024. This trend can be attributed to the rising incidence of patients suffering from strokes and spinal cord injuries worldwide. According to data from the Centers for Disease Control and Prevention (CDC) published in May 2024, over 795,000 individuals in the United States experience a stroke each year. Implanted BCI hardware such as electrodes and sensors are primarily designed to detect brain signals and facilitate communication between the brain and external devices. These BCIs can significantly assist stroke patients in regaining control over their bodies and improving motor functions. The increasing prevalence of strokes and spinal cord injuries is driving segment growth and contributing to the overall expansion of the implanted brain-computer interface (BCI) devices market.

The growth of the brain-computer interface (BCI) segment can also be attributed to the various advantages offered by the hardware utilized in these devices. BCIs have diverse applications in rehabilitation settings, where they play a crucial role in post-stroke or injury recovery. By promoting neuroplasticity, these devices enable patients to regain motor functions through targeted exercises that are controlled by their thoughts. This capability not only accelerates recovery but also empowers patients by facilitating a more intuitive interaction with their rehabilitation process. As awareness of these benefits grows, the demand for advanced BCI solutions in clinical and therapeutic contexts is expected to expand, further driving market growth.

Moreover, increasing research and development activities aimed at developing innovative implantable BCI devices are significantly fueling market growth. A notable example is Synchron's completion of the COMMAND trial in September 2023, which focused on its brain-computer interface (BCI) devices that received Investigational Device Exemption (IDE) from the FDA. The primary objective of this study was to determine the safety of implanting the device within the blood vessels of the brain using neuro-interventional procedures. Such R&D activities by key players are driving the market growth.

North America is expected to dominate the overall implanted brain-computer interface (BCI) devices market:

North America is expected to account for the largest market share in the implanted brain-computer interface (BCI) devices market in 2024, out of all regions. This can be attributed to the rising prevalence of hearing loss and neurological disorders, alongside a growing geriatric population. Additionally, the increasing healthcare awareness and ongoing technological innovations led by key industry players are significantly driving market growth in North America.

The rising prevalence of neurological disorders is a key factor driving market growth in North America. As per data from the Centers for Disease Control and Prevention (CDC) in September 2023, approximately 6.7 million individuals aged 65 and older were living with Alzheimer's disease in 2023, a number projected to increase to 13.9 million by 2060 in the United States.

According to data from the Centers for Disease Control and Prevention (CDC) published in May 2024, approximately 3 million individuals in the United States were living with epilepsy in 2021. Implanted BCI devices provide innovative solutions for rehabilitation and assistive technologies tailored to the needs of these individuals. Consequently, the increasing prevalence of neurological conditions is driving demand for implanted BCI devices, thereby significantly contributing to market growth in the region.

The increasing geriatric population, which is more susceptible to neurological and motor impairments, is significantly driving market growth in the region. According to data from the Population Reference Bureau published in January 2024, there were approximately 58 million individuals aged 65 and older in the United States in 2022, a number projected to rise to 82 million by 2050. As the global demographic of elderly individuals expands, the demand for implanted BCI devices that address age-related cognitive and mobility decline is also on the rise, thereby propelling the market growth.

The increasing focus on product development and launch activities by key players is significantly fostering market growth. For instance, in May 2024, CorTec announced that the FDA approved an Investigational Device Exemption (IDE) application for its closed-loop brain-computer interface (BCI). This innovative device is designed to support novel stroke rehabilitation treatments by utilizing cortical stimulation to enhance neuroplasticity within the brain. Such product development activities by key players are driving market growth in North America.

Implanted Brain-Computer Interface (BCI) Devices Market Key Players:

Some of the key market players operating in the implanted brain-computer interface (BCI) devices market include NeuroPace, Inc., Blackrock Neurotech, Synchron, LivaNova, Inc., BrainGate, BrainCo, Inc., Cognixion, Inc., Brain Products GmbH, Compumedics Neuroscan, CorTec, Snap Inc., g.tec medical engineering GmbH, Bitbrain Technologies, Nexstem India Pvt. Ltd., Paradromics, CereGate, Precision Neuroscience, ONWARD Medical N.V., NeuroSky, NeuroXess, and others.

Recent Developmental Activities in the Implanted Brain-Computer Interface (BCI) Devices Market:

• In February 2024, Onward Medical secured Breakthrough Device Designation (BDD) from the U.S. Food and Drug Administration (FDA) for its ARC-BCI System. This innovative technology integrates brain-computer interface (BCI) technology with Onward's proprietary ARC-IM(R) Therapy to facilitate thought-driven lower limb mobility restoration in patients with spinal cord injuries (SCI). This designation underscores the potential of the ARC-BCI System to significantly enhance patient outcomes and expedite its development and commercialization process.
• In May 2023, Neuralink granted an Investigational Device Exemption (IDE) for its N1 Implant. This cutting-edge device is designed to be cosmetically invisible and aimed to record and wirelessly transmit brain signals to a dedicated app that interprets movement intentions. This milestone paves the way for clinical studies and highlights Neuralink's commitment to advancing brain-computer interface technology for enhanced user interaction and mobility.

Key Takeaways from the Implanted Brain-Computer Interface (BCI) Devices Market Report Study

• Market size analysis for current Implanted Brain-Computer Interface (BCI) Devices Market size (2024), and market forecast for 8 years (2025 to 2032)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Implanted Brain-Computer Interface (BCI) Devices market.
• Various opportunities available for the other competitors in the Implanted Brain-Computer Interface (BCI) Devices Market space.
• What are the top-performing segments in 2024? How these segments will perform in 2032?
• Which are the top-performing regions and countries in the current Implanted Brain-Computer Interface (BCI) Devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Implanted Brain-Computer Interface (BCI) Devices market growth in the coming future?

Target Audience who can be benefited from this Implanted Brain-Computer Interface (BCI) Devices Market Report Study

• Implanted Brain-Computer Interface (BCI) Devices product providers
• Research organizations and consulting companies
• Implanted Brain-Computer Interface (BCI) Devices related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Implanted Brain-Computer Interface (BCI) Devices
• Various end-users who want to know more about the Implanted Brain-Computer Interface (BCI) Devices Market and the latest technological developments in the Implanted Brain-Computer Interface (BCI) Devices Market.

Frequently Asked Questions for the Implanted Brain-Computer Interface (BCI) Devices Market:

1. What are Implanted Brain-Computer Interface (BCI) Devices?

• Implanted brain-computer interface (BCI) devices represent a cutting-edge neurotechnology, engineered to create a direct communication link between the brain and external systems. These sophisticated solutions typically incorporate surgically implanted electrodes or arrays that capture and interpret neuronal activity related to specific cognitive processes, such as movement intention or communication.

2. What is the market for Implanted Brain-Computer Interface (BCI) Devices?

• The implanted brain-computer interface (BCI) devices market is estimated to grow at a CAGR of 10.42% during the forecast period from 2025 to 2032.

3. What are the drivers for the Implanted Brain-Computer Interface (BCI) Devices market?

• The implanted brain-computer interface (BCI) devices market is experiencing significant growth due to several key factors such as the increasing prevalence of neurological and movement disorders and a rising number of patients experiencing hearing and vision loss. Additionally, the growing adoption of digital health solutions is reshaping the landscape of patient care, further fuelling market growth. Key factors contributing to this upward trend include increasing research and development activities and strategic collaborations among leading players to develop more advanced BCI devices.

4. Who are the key players operating in the Implanted Brain-Computer Interface (BCI) Devices market?

• Some of the key market players operating in the implanted brain-computer interface (BCI) devices market include NeuroPace, Inc., Blackrock Neurotech, Synchron, LivaNova, Inc., BrainGate, BrainCo, Inc., Cognixion, Inc., Brain Products GmbH, Compumedics Neuroscan, CorTec, Snap Inc., g.tec medical engineering GmbH, Bitbrain Technologies, Nexstem India Pvt. Ltd., Paradromics, CereGate, Precision Neuroscience, ONWARD Medical N.V., NeuroSky, NeuroXess, and others.

5. Which region has the highest share in the Implanted Brain-Computer Interface (BCI) Devices market?

• North America is expected to account for the largest market share in the implanted brain-computer interface (BCI) devices market in 2024, out of all regions. This can be attributed to the rising prevalence of hearing loss and neurological disorders, alongside a growing geriatric population. Additionally, increasing healthcare awareness and ongoing technological innovations led by key industry players are significantly driving market growth in North America.