Neuroprosthetics Market, By Types (Cochlear Implants, Motor Prosthetics, Cognitive Prosthetics, and Retinal Implants), By Technology (VNS, SCS, DBS, and SNS), By Application, and Geography (North America, Europe, Asia Pacific, and RoW) Analysis, Share, Trends, Size, & Forecast From 2014 2025
REPORT HIGHLIGHT
The neuroprosthetics market is estimated to represent a global market of USD 4,763 million by 2017 with growth rate of 4.5%.
Neuroprosthetic is a medical device, designed to supplement the input or output of a nervous system. These devices are linked to the central nervous system and translate electrical neural activity from the brain into control signals in order to control artificial limbs or to enable to restore lost sensory function. Neuroprosthetics are featured to enhance motor, sensory, and cognitive ability of an organism. Many research studies suggest that neuroprosthetics significantly improve the quality of life of patients suffering from motor disorders such as amputation and paralysis.
Market Dynamics
Continuous rising prevalence of neurological diseases, such as epilepsy, Parkinson’s disease, tremor, and dystonia, is considered to be a high-impact rendering driver for the neuroprosthetics market. According to the WHO, neurological diseases constitutes 6.3% of the global chronic disease burden and are one of the key causes of mortality globally, to result in 13.2% deaths in developed countries as well as 16.8% in low- and middle-income countries. Furthermore, Technological advancements in neuroprosthetics are anticipated to create growth opportunities for this market. For instance, in September 2017, MED-EL announced the launch of RONDO 2, a cochlear implant audio processor that can be charged wirelessly thereby improving the use of these implants among patients. Other notable advancements include the emergence of robot-assisted implantation, a microelectrode, multi-target stimulation, and integrated implantable pulse generators. However, high cost associated with neuroprosthetics is the critical restraining factor for the overall industry growth.
Types Takeaway
In terms of types, the market is divided into Cochlear Implants, Motor Prosthetics, Cognitive Prosthetics, and Retinal Implants. Motor Prosthetics is accounted for the 43.25%, the largest share of the total market in 2017. These prosthetics are also known as Brain Machine Interface (BMI), which help in restoring motor functions in patients with neurological disorders. Rising number of research activities with respect to the neural motor prosthesis is anticipated to offer strong growth of this segment. Based on technology, the market is broadly bifurcated into Vagus Nerve Stimulation, Spinal Cord Stimulation, Deep Brain Simulation, and Sacral Nerve Stimulation. Technologies such as DBS and SNS are growing rapidly and are expected to capture the significant share of the global market over the future period.
Global Neuroprosthetics Market by Types, 2017 vs 2025
Application Takeaway
Application section is distributed as Physiological Disorders, Motor Neuron Disorders, and Cognitive Disorders. Physiological disorders segment is further divided into Auditory Disorders, Kidney Disorders, and others. The largest application segment, motor neuron disorders are divided in terms of Epilepsy, and Parkinson’s disease. Cognitive Disorders is categorized as Alzheimer’s disease and Severe Depression. Among which, neuroprosthetics are widely used for the treatment of Parkinson’s disease. During the year 2017, this segment captured almost 70% share of the motor neuron disorders market. Prevalence/incidence of this disease is constantly increasing across the world. According to Parkinson’s News Today, around 60,000 people in the U.S. are diagnosed with Parkinson’s disease every year.
Regional Takeaway
Regionally, North America recorded the largest share of the total market due to the rising research and development activities. Europe followed North America, backed by the increasing incidences of neurological disorders and rise in product demand. Developing regions such as the Asia Pacific and Latin America is considered to grow with the highest growth rate over the future period owing to the favorable government initiatives coupled with the rising awareness level.
Key Vendor Takeaway
Key players such as Cochlear Limited, St. Jude Medical, Inc., Medtronic, Inc., Nervo Corporation and MED-EL are profiled under the report scope. Product approvals, strategic collaborations, and new product launches are some of the sustainable strategies adopted by the companies operating in this market. Medtronic notched significant revenue share of the global market in 2016 owing to the extensive product line and strong strategies to expand in the market. For instance, in November 2017, Medtronic’s Intellis (TM) platform received the CE Mark for both spinal cord stimulation and peripheral nerve stimulation in the management of chronic pain thereby expanding its product portfolio.
The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2015 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2016 to 2025 for every reported segment.
The years considered for the study are:
- Historical Year – 2014 & 2015
- Base Year – 2015
- Estimated Year – 2016
- Projected Year – 2025
TARGET AUDIENCE
- Traders, Distributors, And Suppliers
- Manufacturers
- Hospitals
- Government and Regional Agencies and Research Organizations
- Consultants
- Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPES
- Cochlear Implants
- Motor Prosthetics
- Cognitive Prosthetics
- Retinal Implants
MARKET, BY TECHNOLOGY
- Vagus Nerve Stimulation
- Spinal Cord Stimulation
- Deep Brain Simulation
- Sacral Nerve Stimulation
MARKET, BY APPLICATION
- Physiological Disorders
- Auditory Disorders
- Kidney Disorders
- Others
- Motor Neuron Disorders
- Epilepsy
- Parkinson’s disease
- Cognitive Disorders
- Alzheimer’s Disease
- Severe Depression
MARKET, BY REGION
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- Rest of Europe
- Asia Pacific
- India
- China
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
TABLE OF CONTENT
1. NEUROPROSTHETICS MARKET OVERVIEW
1.1. Study Scope
1.2. Base Year
1.3. Assumption and Methodology
2. EXECUTIVE SUMMARY
2.1. Key Market Facts
2.2. Geographical Scenario
2.3. Companies in the Market
3. NEUROPROSTHETICS KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. NEUROPROSTHETICS INDUSTRY STUDY
4.1. Porter’s Analysis
4.2. Regulatory Framework Analysis
4.3. Market Attractiveness Analysis
4.4. Value Chain Analysis
5. NEUROPROSTHETICS MARKET LANDSCAPE
5.1. Market Share Analysis
6. NEUROPROSTHETICS MARKET – BY TYPES:
6.1. Overview
6.2. Cochlear Implants
6.2.1. Overview
6.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3. Motor Prosthetics
6.3.1. Overview
6.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.4. Cognitive Prosthetics
6.4.1. Overview
6.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.5. Retinal Implants
6.5.1. Overview
6.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7. NEUROPROSTHETICS MARKET – BY TECHNOLOGY:
7.1. Overview
7.2. Vagus Nerve Stimulation
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.3. Spinal Cord Stimulation
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.4. Deep Brain Simulation
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.5. Sacral Nerve Stimulation
7.5.1. Overview
7.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8. NEUROPROSTHETICS MARKET – BY TECHNOLOGY:
8.1. Overview
8.2. Physiological Disorders
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.2.3. Auditory Disorders
8.2.3.1. Overview
8.2.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.2.4. Kidney Disorders
8.2.4.1. Overview
8.2.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.2.5. Others
8.2.5.1. Overview
8.2.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3. Motor Neuron Disorders
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3.3. Epilepsy
8.3.3.1. Overview
8.3.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3.4. Parkinson’s disease
8.3.4.1. Overview
8.3.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4. Cognitive Disorders
8.4.1. Overview
8.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4.3. Alzheimer’s Disease
8.4.3.1. Overview
8.4.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4.4. Severe Depression
8.4.4.1. Overview
8.4.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9. NEUROPROSTHETICS MARKET– BY GEOGRAPHY
9.1. Introduction
9.2. North America
9.2.1. Overview
9.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.2.3. U.S.
9.2.3.1. Overview
9.2.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.2.4. Canada
9.2.4.1. Overview
9.2.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.3. Europe
9.3.1. Overview
9.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.3.3. France
9.3.3.1. Overview
9.3.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.3.4. Germany
9.3.4.1. Overview
9.3.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.3.5. Rest of Europe
9.3.5.1. Overview
9.3.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.4.3. China
9.4.3.1. Overview
9.4.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.4.4. India
9.4.4.1. Overview
9.4.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.4.5. Rest of APAC
9.4.5.1. Overview
9.4.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.5. Rest of the World
9.5.1. Overview
9.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.5.3. Latin America
9.5.3.1. Overview
9.5.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9.5.4. Middle East and Africa
9.5.4.1. Overview
9.5.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
10. KEY VENDOR ANALYSIS
10.1. Cochlear Limited
10.1.1. Company Overview
10.1.2. SWOT Analysis
10.1.3. Key Developments
10.2. St. Jude Medical, Inc.
10.2.1. Company Overview
10.2.2. SWOT Analysis
10.2.3. Key Developments
10.3. Medtronic, Inc.
10.3.1. Company Overview
10.3.2. SWOT Analysis
10.3.3. Key Developments
10.4. Nervo Corporation
10.4.1. Company Overview
10.4.2. SWOT Analysis
10.4.3. Key Developments
10.5. MED-EL
10.5.1. Company Overview
10.5.2. SWOT Analysis
10.5.3. Key Developments
*Client can request additional company profiling as per specific requirements
11. 360 DEGREE ANALYSTVIEW
12. APPENDIX
12.1. Research Methodology
12.2. Abbreviations
12.3. Disclaimer
12.4. Contact Us
List of Tables
Table 1 List of Acronyms
Table 2 Key Market Facts, 2014 – 2025
Table 3 Market Drivers: Impact Analysis
Table 4 Market Restraint: Impact Analysis
Table 5 Market Opportunity: Impact Analysis
Table 6 PEST Analysis
Table 7 Porter’s Five Forces Analysis
Table 8 Company Market Share Analysis
Table 9 Global Neuroprosthetics Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
Table 10 Neuroprosthetics Market, by Types, 2014 – 2025 (USD Million)
Table 11 Neuroprosthetics Market, by Technology, 2014 – 2025 (USD Million)
Table 12 Neuroprosthetics Market, by Application, 2014 – 2025 (USD Million)
Table 13 Neuroprosthetics Market, by Geography, 2014 – 2025 (USD Million)
Table 14 North America Neuroprosthetics Market, 2014 – 2025 (USD Million)
Table 15 U.S. Neuroprosthetics Market, 2014 – 2025 (USD Million)
Table 16 Canada Neuroprosthetics Market, 2014 – 2025 (USD Million)
Table 17 Europe Neuroprosthetics Market, 2014 – 2025 (USD Million)
Table 18 France Neuroprosthetics Market, 2014 – 2025 (USD Million)
Table 19 Germany Neuroprosthetics Market, 2014 – 2025 (USD Million)
Table 20 Asia Pacific Neuroprosthetics Market, 2014 – 2025 (USD Million)
Table 21 China Neuroprosthetics Market, 2014 – 2025 (USD Million)
Table 22 India Neuroprosthetics Market, 2014 – 2025 (USD Million)
Table 23 Latin America Neuroprosthetics Market, 2014 – 2025 (USD Million)
Table 24 MEA Neuroprosthetics Market, 2014 – 2025 (USD Million)
List of Figures
Figure 1 Research Methodology
Figure 2 Research Process Flow Chart
Figure 3 Comparative Analysis, by Geography, 2016-2025 (Value %)
Figure 4 Regulatory Framework Analysis
Figure 5 Value Chain Analysis Analysis
Figure 6 Neuroprosthetics Market, by Types, 2014 – 2025 (USD Million)
Figure 7 Neuroprosthetics Market, by Technology, 2014 – 2025 (USD Million)
Figure 8 Neuroprosthetics Market, by Application, 2014 – 2025 (USD Million)
Figure 9 Neuroprosthetics Market, by Geography, 2014 – 2025 (USD Million)
