Neuroprosthetics Market Research Report - Forecast till 2027

Neuroprosthetics Market Research Report, by Type (Cognitive Prosthetics, Cochlear Implant), Techniques (Vagus Nerve Stimulation), Application (Motor Neuron Disorders) End-User (Hospitals and Clinics, Diagnostic Centers)- Forecast till 2027

ID: MRFR/MED/5318-HCR | February 2021 | Region: Global | 90 pages

Neuroprosthetics Market Scenario:


The neuroprosthetics market was estimated USD 5.28 billion in 2016 and expected to reach USD 10.48 billion by 2023 at a CAGR of 12.4% from 2018 to 2023.


Neuroprosthetics are medical devices that are developed in such a way that provide signal to the central nervous system and receive indications from the external environment. These devices are used in neural diseases such as Epilepsy, Parkinson’s disease, Visual Prosthetics and many more.


The factors responsible for the positive growth of this market are increasing prevalence of neural diseases, over active bladder syndrome, and chronic disorder which include epilepsy.


However, factors such as, low acceptance of neuroprosthetics treatment devices due to its high cost, and low awareness about the devices may restrict the market growth during the forecast period.


Segmentation:


The neuroprosthetics market is segmented on the basis of type, technology, applications, and end users. On the basis of type the market is segmented into output neural prosthetics and input neural prosthetics. The output is segmented into cognitive prosthetics, and motor prosthetics. The input is segmented into cochlear implant, and visual prosthetic.


On the basis of techniques, the market is segmented into vagus nerve stimulation, deep brain stimulation, sacral nerve stimulation, and spinal cord stimulation.


On the basis of application, the market is segmented into motor neuron disorders, physiological disorders, and cognitive disorders. The motor neuron disorders are segmented into Parkinson’s disease, and Epilepsy disorder. The physiological disorders are segmented into auditory processing disorders, ophthalmic disorders, cardiovascular disorders, and urology disorders. Furthermore, the cognitive disorders include disorders such as Alzheimer’s disease, paralysis, and severe depression. On the basis of end-users, the market is segmented into hospitals and clinics, diagnostic centers, research centers and others.


On the basis of region, the Neuroprosthetics market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and South America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, the Republic of Korea, and the rest of Asia-Pacific. The Middle Eastern and African region is sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the Middle East and Africa.


Key players:


Some of the key players in the neuroprosthetics global market are Medtronic (US), Abbott (US), Cochlear (Australia), Boston Scientific (US), Livanova (UK), Second Sight (US), Med-El (UK), Retina Implant (US), Sonova (UK), Neuropace (US), Nevro (California), and others. 


Regional Market Summary:
Global Neuroprosthetics Market Share (%), by Region, 2017


Sources: National Cancer Institute, Cancer research UK, the American Cancer Society, Inc., US Department of Health and Human Services National Institutes of Health


It is estimated that North America dominated the neuroprosthetics market owing to the increasing in the prevalence of neural diseases such as Epilepsy, Parkinson’s disease. According to the Parkinson's Foundation it has been estimated that in the U.S. approximately one million people may live with Parkinson's disease (PD) by 2020. It was also reported that around 60,000 Americans get diagnosed with Parkinson's disease each year.


Such a high prevalence of Parkinson's disease in this region may support the market growth during the forecasted period.


Europe stood second largest in the neuroprosthetics market owing to the increasing number of patients diagnose with Parkinson disorder. According to the Parkinson’s UK 2018, the number of adults living and diagnosed with Parkinson’s is increasing rapidly, it has been estimated that approximately 145,000 number of people are diagnosed with Parkinson’s in 2018 in the UK. Such high prevalence Parkinson and increasing geriatric population in this region facilitates the market growth.


Asia-Pacific was projected to be the rapidly growing region for the neuroprosthetics global market. The market is expected to witness growth owing to the increasing various technological for developing neuroprosthetics devices, rising cognitive disorders such as paralysis, Alzheimer’s disease, and severe depression. According to the National Center for Biotechnology Information 2016, Alzheimer’s disease accounts for up to 60% cases in Asia. The increasing number of Alzheimer patients in Asia region will support the market growth positively.


The Middle East and Africa holds low share in the neuroprosthetics market due to, low awareness about the available neuroprosthetics devices, and lack of well-defined standards and treatment guidelines for neurological disorders. However, the market is expected to witness growth due to increasing government imitative programs related to creating awareness about the various diseases and their treatment methods in the Middle East.


Intended Audience



  • Government and private laboratories

  • Hospitals and clinics

  • Ambulatory Surgical Centers

  • Diagnostic Centers

  • Market research and consulting service providers


Market Segmentation 


Neuroprosthetics Market, by Type



  • Output Neural Prosthetics

    • Cognitive Prosthetics

    • Motor Prosthetics



  • Input Neural Prosthetics

    • Cochlear Implant

    • Visual Prosthetics




Neuroprosthetics Market, by Techniques



  • Deep Brain stimulation,

  • Vagus Nerve stimulation

  • Sacral Nerve Stimulation

  • Spinal Cord stimulation


Neuroprosthetics Market, by Application



  • Motor Neuron Disorders

    • Parkinson’s Disease

    • Epilepsy  



  • Physiological Disorders

    • Auditory Processing Disorders

    • Ophthalmic Disorders

    • Cardiovascular Disorders,

    • Urology Disorders



  • Cognitive Disorders

    • Alzheimer’s Disease

    • Paralysis

    • Severe Depression




Neuroprosthetics Market, by End-Users



  • Hospitals and clinics

  • Diagnostic centers

  • Research centers

  • Others


Neuroprosthetics Market, by Region



  • Americas

  • Europe

  • Asia-Pacific

  • Middle East & Africa



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2023: USD 10.48 Billion
  • 2027: Significant Value
  •   CAGR   12.4% (2018-2023)
      Base Year   2019
      Forecast Period   2020-2027
      Historical Data   2018
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Technology, Applications, and End users
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Medtronic (US), Abbott (US), Cochlear (Australia), Boston Scientific (US), Livanova (UK), Second Sight (US), Med-El (UK), Retina Implant (US), Sonova (UK), Neuropace (US), Nevro (California), and others
      Key Market Opportunities   New product launches and R&D Amongst major key Players
      Key Market Drivers   Increasing prevalence of neural diseases Over active bladder syndrome and Chronic disorder


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    TABLE OF CONTENT

    Chapter 1. Report Prologue

    Chapter 2. Market Introduction


    2.1 Definition

    2.2 Scope of the Study

    2.2.1 Research Objective

    2.2.2 Assumptions

    2.2.3 Limitations

    Chapter 3. Research Methodology

    3.1 Introduction

    3.2 Primary Research

    3.3 Secondary Research

    3.4 Market Size Estimation

    Chapter 4. Market Dynamics

    4.1 Drivers

    4.2 Restraints

    4.3 Opportunities

    4.4 Challenges

    4.5 Macroeconomic Indicators

    4.6 Technology Trends & Assessment


    Chapter 5. Market Factor Analysis

    5.1 Porter’s Five Forces Analysis

    5.1.1 Bargaining Power of Suppliers

    5.1.2 Bargaining Power of Buyers

    5.1.3 Threat of New Entrants

    5.1.4 Threat of Substitutes

    5.1.5 Intensity of Rivalry

    5.2 Value Chain Analysis

    5.3 Investment Feasibility Analysis

    5.4 Pricing Analysis

    Chapter 6. Global Neuroprosthetics Market, by Type

    6.1 Introduction

    6.2 Output Neural Prosthetics

    6.2.1 Cognitive Prosthetics

    6.2.2 Motor Prosthetics

    6.3 Input Neural Prosthetics

    6.3.1 Cochlear Implant

    6.3.2 Visual Prosthetics

    Chapter 7. Global Neuroprosthetics Market, by Techniques


    7.1 Introduction

    7.2 Deep Brain stimulation

    7.3 Vagus Nerve stimulation

    7.4 Sacral Nerve Stimulation

    7.5 Spinal Cord stimulation

    Chapter 8. Global Neuroprosthetics Market, by Application

    8.1 Motor Neuron Disorders

    8.1.1 Parkinson’s Disease

    8.1.2 Epilepsy

    8.2 Physiological Disorders

    8.2.1 Auditory Processing Disorders

    8.2.2 Ophthalmic Disorders

    8.2.3 Cardiovascular Disorders

    8.2.4 Urology Disorders

    8.3 Cognitive Disorders

    8.3.1 Alzheimer’s Disease

    8.3.2 Paralysis

    8.3.3 Severe Depression


    Chapter 9. Global Neuroprosthetics Market, by End-Users

    9.1 Introduction

    9.2 Hospitals and Clinics

    9.3 Diagnostic Centers

    9.4 Research centers

    9.5 Others

    Chapter 10. Global Neuroprosthetics Market, by Region

    10.1 Introduction

    10.2 America

    10.2.1 North America

    10.2.1.1 US

    10.2.1.2 Canada

    10.2.2 South America

    10.3 Europe

    10.3.1 Western Europe

    10.3.1.1 Germany

    10.3.1.2 France

    10.3.1.3 Italy

    10.3.1.4 Spain

    10.3.1.5 UK

    10.3.1.6 Rest of Western Europe

    10.3.2 Eastern Europe

    10.4 Asia-Pacific

    10.4.1 Japan

    10.4.2 China

    10.4.3 India

    10.4.4 Australia

    10.4.5 Republic of Korea

    10.4.6 Rest of Asia-Pacific

    10.5 Middle East & Africa

    10.5.1 United Arab Emirates

    10.5.2 Saudi Arabia

    10.5.3 Oman

    10.5.4 Kuwait

    10.5.5 Qatar

    10.5.6 Rest of the Middle East & Africa

    Chapter 11. Company Landscape


    11.1 Introduction

    11.2 Market Share Analysis

    11.3 Key Development & Strategies

    11.3.1 Key Developments

    Chapter 12 Company Profiles

    12.1 MEDTRONIC

    12.1.1 Company Overview

    12.1.2 Type Overview

    12.1.3 Financials

    12.2.4 Key Developments

    12.2.5 SWOT Analysis

    12.2 Abbott

    12.2.1 Company Overview

    12.2.2 Type Overview

    12.2.3 Financial Overview

    12.2.4 Key Developments

    12.2.5 SWOT Analysis

    12.3 Cochlear

    12.3.1 Company Overview

    12.3.2 Type Overview

    12.3.3 Financial Overview

    12.3.4 Key Development

    12.3.5 SWOT Analysis

    12.4 Boston Scientific

    12.4.1 Company Overview

    12.4.2 Type/Business Segment Overview

    12.4.3 Financial Overview

    12.4.4 Key Development

    12.4.5 SWOT Analysis

    12.5 LIVANOVA

    12.5.1 Company Overview

    12.5.2 Type Overview

    12.5.3 Financial overview

    12.5.4 Key Developments

    12.5.5 SWOT Analysis

    12.6 Second Sight

    12.6.1 Company Overview

    12.6.2 Type Overview

    12.6.3 Financial Overview

    12.6.4 Key Developments

    12.6.5 SWOT Analysis

    12.7 Med-El

    12.7.1 Overview

    12.7.2 Type Overview

    12.7.3 Financials

    12.7.4 Key Developments

    12.7.5 SWOT Analysis

    12.8 RETINA IMPLANT

    12.8.1 Overview

    12.8.2 Type Overview

    12.8.3 Financials

    12.8.4 Key Developments

    12.8.5 SWOT Analysis

    12.9 Sonova

    12.9.1 Overview

    12.9.2 Type Overview

    12.9.3 Financials

    12.9.4 Key Developments

    12.9.5 SWOT Analysis

    12.10 Neuropace

    12.10.1 Overview

    12.10.2 Type Overview

    12.10.3 Financials

    12.10.4 Key Developments

    12.10.5 SWOT Analysis

    12.11 Nevro

    12.11.1 Overview

    12.11.2 Type Overview

    12.11.3 Financials

    12.11.4 Key Developments

    12.11.5 SWOT Analysis

    12.12 Others

    Chapter 13 Appendix

    LIST OF TABLES

    Table 1 Global Neuroprosthetics Market Industry Synopsis, 2020-2027

    Table 2 Global Neuroprosthetics Market Estimates & Forecast, 2020-2027, (USD Million)

    Table 3 Global Neuroprosthetics Market, by Region, 2020-2027, (USD Million)

    Table 4 Global Neuroprosthetics Market, by Type, 2020-2027, (USD Million)

    Table 5 Global Neuroprosthetics Market, by Techniques, 2020-2027, (USD Million)

    Table 6 Global Neuroprosthetics Market, by Application, 2020-2027, (USD Million)

    Table 7 Global Neuroprosthetics Market, by End-User, 2020-2027, (USD Million)

    Table 8 North America: Global Neuroprosthetics Market, by Type, 2020-2027, (USD Million)

    Table 9 North America: Global Neuroprosthetics Market, by Techniques, 2020-2027, (USD Million)

    Table 10 North America: Global Neuroprosthetics Market, by Application, 2020-2027, (USD Million)

    Table 11 North America: Global Neuroprosthetics Market, by End-User, 2020-2027, (USD Million)

    Table 12 US: Global Neuroprosthetics Market, by Type, 2020-2027, (USD Million)

    Table 13 US: Global Neuroprosthetics Market, by Techniques, 2020-2027, (USD Million)

    Table 14 US: Global Neuroprosthetics Market, by Application, 2020-2027, (USD Million)

    Table 15 US: Global Neuroprosthetics Market, by End-User, 2020-2027, (USD Million)

    Table 16 Canada: Global Neuroprosthetics Market, by Type, 2020-2027, (USD Million)

    Table 17 Canada: Global Neuroprosthetics Market, by Techniques, 2020-2027, (USD Million)

    Table 18 Canada: Global Neuroprosthetics Market, by Application, 2020-2027, (USD Million)

    Table 19 Canada: Global Neuroprosthetics Market, by End-User, 2020-2027, (USD Million)

    Table 20 South America: Global Neuroprosthetics Market, by Type, 2020-2027, (USD Million)

    Table 21 South America: Global Neuroprosthetics Market, by Techniques, 2020-2027, (USD Million)

    Table 22 South America: Global Neuroprosthetics Market, by Application, 2020-2027, (USD Million)

    Table 23 South America: Global Neuroprosthetics Market, by End-User, 2020-2027, (USD Million)

    Table 24 Europe: Global Neuroprosthetics Market, Type, 2020-2027, (USD Million)

    Table 25 Europe: Neuroprosthetics Market, by Techniques, 2020-2027, (USD Million)

    Table 26 Europe: Neuroprosthetics Market, by Application, 2020-2027, (USD Million)

    Table 27 Europe: Global Neuroprosthetics Market, by End-User, 2020-2027, (USD Million)

    Table 28 Western Europe: Global Neuroprosthetics Market, by Type, 2020-2027, (USD Million)

    Table 29 Western Europe: Global Neuroprosthetics Market, by Techniques ,2020-2027, (USD Million)

    Table 30 Western Europe: Global Neuroprosthetics Market, by Application ,2020-2027, (USD Million)

    Table 31 Western Europe: Global Neuroprosthetics Market, by End-User, 2020-2027, (USD Million)

    Table 32 Eastern Europe: Global Neuroprosthetics Market, by Type, 2020-2027, (USD Million)

    Table 33 Eastern Europe: Global Neuroprosthetics Market, by Techniques, 2020-2027, (USD Million)

    Table 34 Eastern Europe: Global Neuroprosthetics Market, by Patent Type, 2020-2027, (USD Million)

    Table 35 Eastern Europe: Global Neuroprosthetics Market, by End-User, 2020-2027, (USD Million)

    Table 36 Asia-Pacific: Global Neuroprosthetics Market, by Type, 2020-2027, (USD Million)

    Table 37 Asia-Pacific: Global Neuroprosthetics Market, by Techniques, 2020-2027, (USD Million)

    Table 38 Asia-Pacific: Global Neuroprosthetics Market, by Application, 2020-2027, (USD Million)

    Table 39 Asia-Pacific: Global Neuroprosthetics Market, by End-User, 2020-2027, (USD Million)

    Table 40 Middle East & Africa: Global Neuroprosthetics Market, by Type, 2020-2027, (USD Million)

    Table 41 Middle East & Africa: Global Neuroprosthetics Market, by Techniques, 2020-2027, (USD Million)

    Table 42 Middle East & Africa: Global Neuroprosthetics Market, by Application, 2020-2027, (USD Million)

    Table 43 Middle East & Africa: Global Neuroprosthetics Market, by End-User, 2020-2027, (USD Million)

    LIST OF FIGURES

    Figure 1 Research Application

    Figure 2 Segmentation for the Global Neuroprosthetics Market

    Figure 3 Market Dynamics for the Global Neuroprosthetics Market

    Figure 4 Global Neuroprosthetics Market Share, by Type 2020

    Figure 5 Global Neuroprosthetics Market Share, by Techniques, 2020

    Figure 6 Global Neuroprosthetics Market Share, by Application, 2020

    Figure 7 Global Neuroprosthetics Market Share, by End-User, 2020

    Figure 8 Global Neuroprosthetics Market Share, by Region, 2020

    Figure 9 North America Global Neuroprosthetics Market Share, by Country, 2020

    Figure 10 Europe Prescribed Health Apps Share, by Country, 2020

    Figure 11 Asia-Pacific Global Neuroprosthetics Market Share, by Country, 2020

    Figure 12 Middle East & Africa Global Neuroprosthetics Market Share, by Country, 2020

    Figure 13 Global Neuroprosthetics Market: Company Share Analysis, 2020 (%)

    Figure 14 MEDTRONIC: Key Financials

    Figure 15 MEDTRONIC: Segmental Revenue

    Figure 16 MEDTRONIC: Geographical Revenue

    Figure 17 Abbott: Key Financials

    Figure 18 Abbott: Segmental Revenue

    Figure 19 Abbott: Geographical Revenue

    Figure 20 Cochlear: Key Financials

    Figure 21 Cochlear: Segmental Revenue

    Figure 22 Cochlear: Geographical Revenue

    Figure 23 Boston Scientific: Key Financials

    Figure 24 Boston Scientific: Segmental Revenue

    Figure 25 Boston Scientific: Geographical Revenue

    Figure 26 LIVANOVA: Key Financials

    Figure 28 LIVANOVA: Segmental Revenue

    Figure 29 LIVANOVA: Geographical Revenue

    Figure 30 Second Sight: Key Financials

    Figure 31 Second Sight: Segmental Revenue

    Figure 32 Second Sight: Geographical Revenue

    Figure 33 Med-El: Key Financials

    Figure 34 Med-El: Segmental Revenue

    Figure 35 Med-El: Geographical Revenue

    Figure 36 Retina Implant: Key Financials

    Figure 37 Retina Implant: Segmental Revenue

    Figure 38 Retina Implant: Geographical Revenue

    Figure 39 Sonova: Key Financials

    Figure 40 Sonova: Segmental Revenue

    Figure 41 Sonova: Geographical Revenue

    Figure 42 Neuropace.: Key Financials

    Figure 43 Neuropace.: Segmental Revenue

    Figure 44 Neuropace.: Geographical Revenue

    Figure 45 Nevro: Key Financials

    Figure 46 Nevro: Segmental Revenue

    Figure 47 Nevro: Geographical Revenue