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Neuroprosthetics Market By Type (Motor Prosthetics, Auditory Prosthetics, Cognitive Prosthetics, Visual Prosthetics), By Modality (Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS), Spinal Cord Stimulation (SCS), Sacral Nerve Stimulation (SNS), Others), By Application (Motor Neuron Disorders, Physiological Disorders, Cognitive Disorders) – Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

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Industry Outlook

Similar to conventional prosthetics, neural prosthetics, or neuroprosthetics, are devices that restore or replace the function of a damaged part of the nervous system. Some of these neuroprostheses, such as the cochlear implant, restore sensory input with simulation to the nervous system. A retinal implant is another breakthrough sensory neuroprosthesis. Both of these devices involve the transduction of sensory information from the outer environment to the nervous system. Conversely, the nervous system can also be used as a means of sending signals for neural prostheses. In paralysis treatment, information from brain motor areas is used for controlling external devices, thus restoring the movement of the paralyzed limb. Another group of neuroprosthetic devices is used in neuromodulation. Deep brain stimulation improves or restores the movements in patients with Parkinson’s disease and essential tremors and is also being used for the treatment of obsessive-compulsive disorders and depression.

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The lifetime cost of neurological injuries is detrimental. The estimated cost of spinal cord injuries is primarily determined by the severity of the injury, age, and nature of the trauma, with the average first-year treatment costing up to $1 million, which may rise further in subsequent years. Furthermore, the cost of living with such a disability is also detrimental to the patient as well as the medical companies. The use of neuroprosthetics to improve the quality of life of neurological injury patients reduces the cost of assisted living dramatically. In the case of bladder and bowel incontinence patients, for example, the cost of implementing neurostimulation devices is offset by the savings on medications, medical procedures, and supplies that would otherwise be spent. Neuroprostheses not only improve the quality of life but also restore lost independence. The market for neuroprosthetics is efficiently growing. Neuroprosthetics is at the forefront of medical technology and will have significant adoption in the years to come. Spinal cord stimulation is the most widely adopted modality for neuroprosthesis, along with deep brain stimulation. Additionally, new neuroprosthetics is being developed for the restoration of the senses. Its use in treating cognitive conditions such as depression is also proliferating.

Market Synopsis

Motor Prosthetics Will Prevail Throughout the Forecast Period

Motor prosthetics currently have the highest revenue share in the global neuroprosthetics markets and will maintain this position throughout the forecast period. The increasing use of motor prosthetics in the treatment of incontinence and other patients with neuromuscular diseases is primarily responsible for this segment’s dominance. Moreover, the increasing prevalence of paraplegia, movement disorders, and Parkinson’s disease is the key driver supporting the growth of this segment. The auditory and visual prosthetics segments will progress at a rapid growth rate during the forecast period. The global market’s increasing demand for auditory neuroprosthetics is due to the high prevalence of hearing loss that cannot be treated with amplifiers. Patients with a functional auditory nerve mainly benefit from auditory neuroprosthetics. The first product introduced in this segment was the cochlear implant, which substitutes the middle ear with sound transduction and electrical stimulation of the auditory nerve. The cochlear implant is most useful in patients with profound deafness because residual hearing is lost with its insertion. The success of auditory neuroprosthetics is further strengthened by better treatment outcomes, as many patients with cochlear implants develop the ability to conveniently distinguish between music and speech. Technological evolution has led to the introduction of new implants that are smaller and less damaging, suitable for patients with residual low-frequency hearing but absolute deafness to middle- to high-frequency sounds.

Spinal Cord Stimulation Spearheads the Global Market

Spinal cord stimulation is the largest revenue-generating modality in the global neuroprosthetics market. The World Health Organization estimates that approximately 500,000 people suffer from spinal cord injuries each year. Spinal cord injuries have a number of negative effects on physiological and motor functions. Decreasing the quality of life. In the majority of spinal cord injury cases, some nerve fibers remain in contact with the brainstem and the spinal cord, which makes the application of spinal cord stimulation possible. Advances in brain science, neurosurgery, robotics, and geoengineering have created avenues for therapeutic solutions. Over the past two decades, the field of spinal cord stimulation interventions exploiting the development of neuromodulation for spinal cord injuries has phenomenally evolved.

Proven Benefits and Efficacy of DBS in Parkinson’s Disease to Remain the Mainstay for Market Growth

Based on the application areas, the global neuroprosthetics market is categorized into motor neuron disorders, physiological disorders, and cognitive disorders. Motor neuron disorders had the highest revenue share in the base year of 2017. Neuroprosthetics is gaining wide usage in the treatment of Parkinson’s disease, essential tremors, and spinal cord injuries following the success of deep brain and spinal cord stimulation. Motor neuron diseases have a dominant position in the overall neuroprosthetics market due to their proven efficacy in the treatment of epilepsy, tremors, and Parkinson’s disease. Therefore, the growing prevalence of these segments is a key driving factor for the growth of the motor neuron disorders segment. Furthermore, the cognitive disorders segment will experience the fastest market progress during the forecast period. The rising incidence of obsessive-compulsive disorders, Alzheimer’s disease, and depression is the key driver for the rapid growth of this market. The easy availability of advanced neurological implants helps to stabilize market growth.

Significantly Large Potential Patient Pool: Supporting Swift Growth of the Asia Pacific Market

North America is the current leader in the global neuroprosthetics market in terms of revenue generation. The region’s dominance is due to favorable government and reimbursement policies, a high prevalence of neurological disorders and conditions, and the presence of a well-developed healthcare infrastructure. High government initiatives towards the adoption of technologically advanced treatment solutions pertaining to motor diseases and hearing loss also support the growth of this market. Additionally, Asia Pacific is estimated to be the fastest-growing regional market for neuroprosthetics. Factors such as a potentially large patient pool, rapidly developing healthcare infrastructure, and increasing healthcare expenditure are attributed to the growth of the Asia-Pacific market. The healthcare system in this region is intensely focused on reducing the cost of treatment and increasing awareness levels among patients. The growing investment by industry players through the establishment of new manufacturing units in the region and the increasing proliferation of medical tourism are other prime factors facilitating the growth of this region.

Periods of History and Forecast

This research report presents the analysis of each considered segment for the period from 2016 to 2026, using 2017 as the base year for estimations. Compounded annual growth rates (CAGRs) for each segment are calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

This market research report on the global neuroprosthetics market comprises market size and forecasts for the global market and the mentioned segments. The report also includes quantitative information about these segments in terms of market trends and analysis. Other sets of qualitative information offered through this report include attractive investment propositions, the competitive landscape of the key players, drivers, challenges, and opportunities, and company profiles of major market players.

The profiles of such players are also studied in this report based on parameters, namely, business overview, product portfolio, financial information, and key developments. The prime players operating in the global neuroprosthetics market are Abbott Laboratories, Boston Scientific Corporation, Cochlear Limited, LivaNova, PLC, MED-EL, NeuroPace, Inc., Medtronic Plc, NDI Medical LLC, Nervo Corp., Retina Implant AG, Second Sight Medical Products, Inc., Sonova Holding AG, Cyberonics, Inc., St. Jude Medical, Inc., and BrainGate Company.

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Key questions are answered in this report.

  • What is the current and forecast size of the global neuroprosthetics market?
  • At what CAGR will the global neuroprosthetics market progress through the forecast period of 2018 to 2026?
  • What is the market status of the motor prosthetics segment on the global front?
  • Which are the particular factors that are determining the overall market trends?
  • Will the dominance of spinal cord stimulation solutions be challenged by other modalities?
  • How will the sacral nerve stimulation segment fare during the forecast period?
  • How is the prevalence of degenerative disorders such as Parkinson’s disease determining the progress of the neuroprosthetics market for motor neuron diseases?
  • What are the key strategies adopted by the market players and new market entrants?
  • What is the roadmap followed in the Asia-Pacific market to achieve global dominance?

Chapter 1. Preface
1.1. Report Description
1.1.1. Study Purpose
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Market Segmentation
1.3. Research Scope
1.4. Research Methodology
1.4.1. Phase I – Secondary Research
1.4.2. Phase II – Primary Research
1.4.3. Phase III – Expert Panel Review
1.4.4. Assumptions
1.5. Market Segmentation

Chapter 2. Executive Summary
2.1. Global Neuroprosthetics Market Portraiture
2.2. Global Neuroprosthetics Market, by Type, 2017 (US$ Bn)
2.3. Global Neuroprosthetics Market, by Modality, 2017 (US$ Bn)
2.4. Global Neuroprosthetics Market, by Application, 2017 (US$ Bn)
2.5. Global Neuroprosthetics Market, by Geography, 2017 (US$ Bn)

Chapter 3. Global Neuroprosthetics Market: Dynamics and Future Outlook
3.1. Overview
3.2. Drivers
3.3. Challenges
3.4. Opportunities
3.5. Attractive Investment Proposition, by Geography, 2017
3.6. Competitive Analysis: Global Neuroprosthetics Market, by Key Players, 2017

Chapter 4. Global Neuroprosthetics Market, by Type, 2016-2026 (US$ Bn)
4.1. Overview
4.2. Motor Prosthetics
4.3. Auditory Prosthetics
4.4. Cognitive Prosthetics
4.5. Visual Prosthetics

Chapter 5. Global Neuroprosthetics Market, by Modality, 2016-2026 (US$ Bn)
5.1. Overview
5.2. Deep Brain Stimulation (DBS)
5.3. Vagus Nerve Stimulation (VNS)
5.4. Spinal Cord Stimulation (SCS)
5.5. Sacral Nerve Stimulation (SNS)
5.6. Others

Chapter 6. Global Neuroprosthetics Market, by Application, 2016-2026 (US$ Bn)
6.1. Overview
6.2. Motor Neuron Disorders
6.2.1. Parkinson’s Disease
6.2.2. Epilepsy
6.3. Physiological Disorders
6.3.1. Auditory Disorders
6.3.2. Cardiac Disorders
6.3.3. Chronic Pain
6.3.4. Others (Ophthalmic and Kidney Disorders)
6.4. Cognitive Disorders
6.4.1. Alzheimer’s Disease
6.4.2. Severe Depression

Chapter 7. Global Neuroprosthetics Market, by Geography, 2016 – 2026 (US$ Bn)
7.1. Overview
7.1.1. North America Neuroprosthetics Market, 2016-2026 (US$ Bn)
7.1.2. North America Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
7.1.3. North America Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
7.1.4. North America Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
7.1.5. North America Neuroprosthetics Market, by Country, 2016 – 2026 (US$ Bn)
7.1.5.1. U.S.
7.1.5.2. Canada
7.2. Europe Neuroprosthetics Market, 2016 – 2026 (US$ Bn)
7.2.1. Europe Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
7.2.2. Europe Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
7.2.3. Europe Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
7.2.4. Europe Neuroprosthetics Market, by Country/Region, 2016 – 2026 (US$ Bn)
7.2.4.1. U.K.
7.2.4.2. Germany
7.2.4.3. Rest of Europe
7.3. Asia Pacific Neuroprosthetics Market, 2016 – 2026 (US$ Bn)
7.3.1. Asia Pacific Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
7.3.2. Asia Pacific Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
7.3.3. Asia Pacific Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
7.3.4. Asia Pacific Neuroprosthetics Market, by Country/Region, 2016 – 2026 (US$ Bn)
7.3.4.1. China
7.3.4.2. Japan
7.3.4.3. Rest of Asia Pacific
7.4. Latin America Neuroprosthetics Market, 2016 – 2026 (US$ Bn)
7.4.1. Latin America Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
7.4.2. Latin America Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
7.4.3. Latin America Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
7.4.4. Latin America Neuroprosthetics Market, by Country/Region, 2016 – 2026 (US$ Bn)
7.4.4.1. Brazil
7.4.4.2. Mexico
7.4.4.3. Rest of Latin America
7.5. Middle East & Africa Neuroprosthetics Market, 2016 – 2026 (US$ Bn)
7.5.1. Middle East & Africa Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
7.5.2. Middle East & Africa Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
7.5.3. Middle East & Africa Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
7.5.4. Middle East & Africa Neuroprosthetics Market, by Region, 2016 – 2026 (US$ Bn)
7.5.4.1. GCC
7.5.4.2. Rest of Middle East & Africa

Chapter 8. Company Profiles
8.1. Abbott Laboratories
8.1.1. Business Description
8.1.2. Financial Information (Subject to Data Availability)
8.1.3. Product Portfolio
8.1.4. Key Developments
8.2. Boston Scientific Corporation
8.3. Cochlear Limited
8.4. LivaNova, PLC
8.5. MED-EL
8.6. Medtronic Plc
8.7. NDI Medical LLC
8.8. NeuroPace, Inc.
8.9. Nervo Corp.
8.10. Retina Implant AG
8.11. Second Sight Medical Products, Inc.
8.12. Sonova Holding AG
8.13. Cyberonics, Inc.
8.14. St. Jude Medical, Inc.
8.15. BrainGate Company

 

List of Figures

FIG 1. Neuroprosthetics Market: Research Methodology
FIG 2. Neuroprosthetics: Market Segmentation
FIG 3. Global Neuroprosthetics Market, by Type, 2017 (US$ Bn)
FIG 4. Global Neuroprosthetics Market, by Modality, 2017 (US$ Bn)
FIG 5. Global Neuroprosthetics Market, by Application, 2017 (US$ Bn)
FIG 6. Global Neuroprosthetics Market, by Geography, 2017 (US$ Bn)
FIG 7. Attractive Investment Proposition, by Geography, 2017
FIG 8. Competitive Analysis: Global Neuroprosthetics Market, by Key Players, 2017
FIG 9. Global Motor Prosthetics Market, 2016-2026(US$ Bn)
FIG 10. Global Auditory Prosthetics Market, 2016-2026 (US$ Bn)
FIG 11. Global Cognitive Prosthetics Market, 2016-2026 (US$ Bn)
FIG 12. Global Visual Prosthetics Market, 2016-2026 (US$ Bn)
FIG 13. Global Deep Brain Stimulation (DBS) Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 14. Global Neuroprosthetics Vagus Nerve Stimulation (VNS) Market, 2016-2026 (US$ Bn)
FIG 15. Global Neuroprosthetics Spinal Cord Stimulation (SCS) Market, 2016-2026 (US$ Bn)
FIG 16. Global Neuroprosthetics Sacral Nerve Stimulation (SNS) Market, 2016-2026 (US$ Bn)
FIG 17. Global Neuroprosthetics Market for Parkinson’s Disease, 2016-2026 (US$ Bn)
FIG 18. Global Neuroprosthetics Market for Epilepsy, 2016-2026 (US$ Bn)
FIG 19. Global Neuroprosthetics Market for Auditory Disorders, 2016-2026 (US$ Bn)
FIG 20. Global Neuroprosthetics Market for Cardiac Disorders, 2016-2026 (US$ Bn)
FIG 21. Global Neuroprosthetics Market for Chronic Pain, 2016-2026 (US$ Bn)
FIG 22. Global Neuroprosthetics Market for Other Physiological Disorders, 2016-2026 (US$ Bn)
FIG 23. Global Neuroprosthetics Market for Alzheimer’s Disease, 2016-2026 (US$ Bn)
FIG 24. Global Neuroprosthetics Market for Severe Depression, 2016-2026 (US$ Bn)
FIG 25. U.S. Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 26. Canada Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 27. U.K. Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 28. Germany Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 29. Rest of Europe Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 30. China Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 31. Japan Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 32. Rest of Asia Pacific Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 33. Brazil Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 34. Mexico Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 35. Rest of Latin America Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 36. GCC Neuroprosthetics Market, 2016-2026 (US$ Bn)
FIG 37. Rest of Middle East and Africa Neuroprosthetics Market, 2016-2026 (US$ Bn)

List of Tables

TABLE 1 Global Neuroprosthetics Market Portraiture
TABLE 2 Global Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
TABLE 3 Global Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
TABLE 4 Global Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
TABLE 5 Global Neuroprosthetics for Motor Neuron Disorders Market, by Type, 2016 – 2026 (US$ Bn)
TABLE 6 Global Neuroprosthetics for Physiological Disorders Market, by Type, 2016 – 2026 (US$ Bn)
TABLE 7 Global Neuroprosthetics for Cognitive Disorders Market, by Type, 2016 – 2026 (US$ Bn)
TABLE 8 North America Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
TABLE 9 North America Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
TABLE 10 North America Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
TABLE 11 North America Neuroprosthetics Market, by Country, 2016 – 2026 (US$ Bn)
TABLE 12 Europe Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
TABLE 13 Europe Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
TABLE 14 Europe Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
TABLE 15 Europe Neuroprosthetics Market, by Country/Region, 2016 – 2026 (US$ Bn)
TABLE 16 Asia Pacific Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
TABLE 17 Asia Pacific Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
TABLE 18 Asia Pacific Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
TABLE 19 Asia Pacific Neuroprosthetics Market, by Country/Region, 2016 – 2026 (US$ Bn)
TABLE 20 Latin America Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
TABLE 21 Latin America Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
TABLE 22 Latin America Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
TABLE 23 Latin America Neuroprosthetics Market, by Country/Region, 2016 – 2026 (US$ Bn)
TABLE 24 Middle East and Africa Neuroprosthetics Market, by Type, 2016 – 2026 (US$ Bn)
TABLE 25 Middle East and Africa Neuroprosthetics Market, by Modality, 2016 – 2026 (US$ Bn)
TABLE 26 Middle East and Africa Neuroprosthetics Market, by Application, 2016 – 2026 (US$ Bn)
TABLE 27 Middle East and Africa Neuroprosthetics Market, by Region, 2016 – 2026 (US$ Bn)
TABLE 28 Abbott Laboratories: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 29 Boston Scientific Corporation: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 30 Cochlear Limited: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 31 LivaNova, PLC: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 32 MED-EL: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 33 Medtronic Plc: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 34 NDI Medical LLC: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 35 NeuroPace, Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 36 Nervo Corp.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 37 Retina Implant AG: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 38 Second Sight Medical Products, Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 39 Sonova Holding AG: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 40 Cyberonics, Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 41 St. Jude Medical, Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)
TABLE 42 BrainGate Company: Company Snapshot (Business Description; Financial Information; Product Portfolio; Key Developments)

Frequently Asked Questions:

What is the size of Neuroprosthetics Market?

The market for Neuroprosthetics is expected to reach XX Mn in 2026.

What is the Neuroprosthetics Market CAGR?

The Neuroprosthetics market is expected to see significant CAGR growth over the coming years, at XX% .

What is the Forecast period considered for Neuroprosthetics Market?

The report is forecasted from 2018-2026.

What is the base year considered for Neuroprosthetics Market?

The base year of this report is 2017.

Who are the major players in this Market?

Abbott Laboratories, Boston Scientific Corporation, Cochlear Limited, Liva Nova, PLC,MED-EL are some of the major players in the global market.

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