Neuroprosthetics Market, Size, Share, Outlook and Growth Opportunities 2019-2026

SKU: DPH137 | Last Updated On: Jan 16 2020 | No. of Pages: 249 | Available Formats

Global Neuroprosthetics Market Expected to reach a high CAGR of 12.2% By 2026: DataM Intelligence

Global Neuroprosthetics Market is segmented by Type (Output Neural Prosthetics, Input Neural Prosthetics), By Technology (Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve Stimulation, Transcranial magnetic Stimulation, Sacral Nerve Stimulation, Others), By Application (Physiological Disorders, Motor Neuron Disorders, Cognitive Disorders), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2019-2026

 

Market Overview

Neuroprosthetics (neural prosthetics) is a branch related to neuroscience and biomedical engineering concerned with developing neural prostheses. These are series of devices that can substitute for the functions of a motor, sensory, or cognitive modality that may have been damaged because of an injury or a disease.

The global neuroprosthetics market is growing at a CAGR of 12.2 % during the forecast period (2019-2026).

Market Overview

 

Source: DataM Intelligence Analysis (2019)

Market Dynamics

The global neuroprosthetics market is growing due to several factors such as rising number of patients suffering from neurological disorders and nerve injuries, growing prevalence of diabetes, increasing incidence of hearing loss, and technological advancements in the devices.

Neurological disorder is one the major causes of death and disability worldwide. In 2016, neurological disorders were the leading cause of disability-adjusted life years (DALYs) (276 million) and second leading cause of deaths (9.0 million). The number of deaths and DALYs from all neurological disorders combined increased (deaths by 39% and DALYs by 15%) whereas their age-standardized rates decreased (deaths by 28% and DALYs by 27%) between 1990 and 2016. The four largest contributors of neurological DALYs were stroke, migraine, Alzheimer's & other dementias, and meningitis. Hence, with rising number of cases of neurological disorders, the demand for neuroprosthetics is increasing.

In addition, increasing number of hearing loss cases is also driving the growth of the market. For instance, it is estimated that more than 44 million American adults aged 20 or older are expected to suffer from hearing loss by 2020. Owing to rising ageing population, the hearing loss number is estimated to reach 75 million by 2060. In the United States, the population with hearing disorders is expected to increase from about 15% of adults to 22%. Hence, high rates of hearing loss are leading to rise in demand for advanced devices. The manufacturers are continuously developing new technology of the external machinery and the design and positioning of the internal electrode to improve performance and provide more naturalistic sound.

Also, new players are entering the market innovating new devices with support of government funding. For instance, in October 2019, SensArs Neuroprosthetics has received a 3 million EUR grant as part of the European Union’s Horizon Research and Innovation program. The startup will coordinate and use the funds to further develop and test its product, the neuroprosthetic system.

However, high cost of the devices is hindering the growth of the market. Neuroprosthetics is an emerging treatment option for the hearing damage, which makes them very expensive especially in developing countries. Neuroprosthetics such as cochlear prosthesis, visual prosthesis, and hippocampal (or cognition) prostheses are generally very expensive and make it difficult for most of the patients to access.

Market Segmentation

By product type, neuroprosthetics market is segmented into output neural prosthetics and input neural prosthetics. The output neural prosthetics includes cognitive prosthetics and cochlear implants. The output neural prosthetics accounted for the largest market share in 2018. The input neural prosthetics includes bionic eye/retinal implants. The retinal implants are estimated to grow at the fastest growth rate during the forecast period, owing to the rising penetration and the increasing R&D efforts pertaining to product innovation.

By technology, the market is segmented into spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, transcranial magnetic stimulation, sacral nerve stimulation, and others. Among these, the spinal cord stimulation (SCS) segment held the largest share in 2018, due to the analgesic property of the SCS therapy used in the treatment of ischemic pain, failed back surgery syndrome, and complex refractory pain syndrome. SCSs are used in intraspinal and epidural microstimulation for inducing leg movements.

Source: DataM Intelligence Analysis (2019)

Geographical Analysis

North America is dominating the global neuroprosthetics market accounting for largest market share in 2018, owing increasing prevalence of neurological disorders and growing geriatric population. For instance, according to the Federal Interagency Forum on Aging-Related Statistics, 35.8% of persons aged 85 years and older have moderate or severe memory impairment in US. Annually, of the 1.2 million most frequently diagnosed adult-onset brain disorders, 51.3% and 21% are due to stroke and Alzheimer’s disease, respectively. More than 30 million Americans are exposed to dangerous levels of noise in the workplace, according to the Hearing Loss Association of America.

In addition, increasing R&D investments, growing funding from both government and private institutes, and large presence of neural implants manufacturers are driving to the growth of the market in this region. For instance, the Defense Advanced Research Project Agency (DARPA) and National Institute of Neurological Disorders and Stroke (NIH) in collaboration with the federal agencies are instrumental in providing funds to support R&D initiatives for the further development of neural implants.

Competitive Landscape

The neuroprosthetics market is competitive with few major players copetiting to gain market share. Some of the major players in the global neuroprosthetics market include: Boston Scientific, Medtronic, Abbott, Cochlear, LivaNova, Sonova, Retina Implant, Med-El, Neuropace, NDI Medical, among others.

The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the neuroprosthetics market globally. For instance,

In October 2019, researchers at Ecole polytechnique fédérale de Lausanne (EPFL)’s Laboratory for Soft BioElectronic Interface (LSBI) developed a conformable, electrode implant to restore hearing in those with a dysfunctional inner ear. The implant will provide an alternative to current auditory brainstem implants (ABIs), neuroprosthetics that deliver electrical signals directly to the auditory brainstem.

In June 2019, RxFunction, Inc. has launched Walkasins®, a wearable lower limb sensory neuroprosthesis that helps improve balance and gait in patients who experience balance problems due to sensory peripheral neuropathy.

In November 2017, the U.S. FDA has approved a remote feature for follow-up programming sessions for the Nucleus Cochlear Implant System through a telemedicine platform. The remote programming feature is indicated for patients who have had six months of experience with their cochlear implant sound processor and are comfortable with the programming process.

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The global neuroprosthetics market report would provide an access to an approx. 54 market data table, 48 figures and 250 pages.

Target Audience

  • Service Providers/ Buyers

  • Industry Investors/Investment Bankers

  • Education & Research Institutes

  • Research Professionals

  • Emerging Companies

  • Manufacturers

 

Table of Content

  1. Neuroprosthetics Market Methodology and Scope

    1. Research Methodology
    2. Research Objective and Scope of the Report
  2. Neuroprosthetics Market – Market Definition and Overview

  3. Neuroprosthetics Market – Executive Summary

    1. Market Snippet by Type
    2. Market snippet by Technology
    3. Market Snippet by Application
    4. Market Snippet by Region
  4. Neuroprosthetics Market Dynamics

    1. Market Impacting Factors
      1. Drivers
        1. Increasing incidence of neurological disorders and nerve injuries
        2. Rising incidence of hearing loss
      2. Restraints
        1. High cost of neuroprosthetics and unfavorable reimbursement scenario
      3. Opportunity
      4. Impact Analysis
  5. Neuroprosthetics Market – Industry Analysis

    1. Porter's Five Forces Analysis
    2. Epidemiology
    3. Regulatory Analysis
    4. Supply Chain Analysis
    5. Product Innovations
    6. Unmet Needs
  6. Neuroprosthetics Market – By Type

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type Segment
      2. Market Attractiveness Index, By Type Segment
    2. Output Neural Prosthetics*
      1. Motor Prosthetics
        1. Introduction
        2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
      2. Cognitive Prosthetics
    3. Input Neural Prosthetics
      1. Cochlear Implants
      2. Bionic Eye/Retinal Implants
  7. Neuroprosthetics Market – By Technology

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology Segment
      2. Market Attractiveness Index, By Technology Segment
    2. Spinal Cord Stimulation*
      1. Introduction
      2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
    3. Deep Brain Stimulation
    4. Vagus Nerve Stimulation
    5. Transcranial magnetic Stimulation
    6. Sacral Nerve Stimulation
    7. Others
  8. Neuroprosthetics Market – By Application

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application Segment
      2. Market Attractiveness Index, By Application Segment
    2. Physiological Disorders
      1. Auditory processing Disorders*
        1. Introduction
        2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
      2. Ophthalmic Disorders
      3. Cardiovascular Disorders
      4. Urology Disorders
    3. Motor Neuron Disorders
      1. Parkinson’s Disease
      2. Epilepsy
    4. Cognitive Disorders
      1. Alzheimer’s Disease
      2. Paralysis
  9. Neuroprosthetics Market – By Region

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
      2. Market Attractiveness Index, By Region
    2. North America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
      6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. U.S.
        2. Canada
        3. Mexico
    3. Europe
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
      6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. Germany
        2. U.K.
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    4. South America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
      6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    5. Asia Pacific
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
      6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. China
        2. India
        3. Japan
        4. Australia
        5. Rest of Asia Pacific
    6. Middle East and Africa
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
  10. Neuroprosthetics Market – Competitive Landscape

    1. Competitive Scenario
    2. Market Positioning/Share Analysis
    3. Mergers and Acquisitions Analysis
  11. Neuroprosthetics Market- Company Profiles

    1. Boston Scientific*
      1. Company Overview
      2. Product Portfolio and Description
      3. Key Highlights
      4. Financial Overview
    2. Medtronic
    3. Abbott
    4. Cochlear
    5. LivaNova
    6. Sonova
    7. Retina Implant
    8. Med-El
    9. Neuropace
    10. NDI Medical (List Not Exhaustive)
  12. Neuroprosthetics Market – Premium Insights

  13. Neuroprosthetics Market – DataM

    1. Appendix
    2. About Us and Services
    3. Contact Us

List of Tables ans Figures

List of Tables

Table 1 Global Neuroprosthetics Market Value, By Type, 2018, 2022 & 2026 ($ Million)

Table 2 Global Neuroprosthetics Market Value, By Technology, 2018, 2022 & 2026 ($ Million)

Table 3 Global Neuroprosthetics Market Value, By Application, 2018, 2022 & 2026 ($ Million)

Table 4 Global Neuroprosthetics Market Value, By Type, 2018, 2022 & 2026 ($ Million)

Table 5 Global Neuroprosthetics Market Value, By Type, 2017-2026 ($ Million)

Table 6 Global Neuroprosthetics Market Value, By Technology, 2018, 2022 & 2026 ($ Million)

Table 7 Global Neuroprosthetics Market Value, By Technology, 2017-2026 ($ Million)

Table 8 Global Neuroprosthetics Market Value, By Application, 2018, 2022 & 2026 ($ Million)

Table 9 Global Neuroprosthetics Market Value, By Application, 2017-2026 ($ Million)

Table 10 North America Neuroprosthetics Market Value, By Type, 2017-2026 ($ Million)

Table 11 North America Neuroprosthetics Market Value, By Technology, 2017-2026 ($ Million)

Table 12 North America Neuroprosthetics Market Value, By Application, 2017-2026 ($ Million)

Table 13 South America Neuroprosthetics Market Value, By Type, 2017-2026 ($ Million)

Table 14 South America Neuroprosthetics Market Value, By Technology, 2017-2026 ($ Million)

Table 15 South America Neuroprosthetics Market Value, By Application, 2017-2026 ($ Million)

Table 16 Europe Neuroprosthetics Market Value, By Type, 2017-2026 ($ Million)

Table 17 Europe Neuroprosthetics Market Value, By Technology, 2017-2026 ($ Million)

Table 18 Europe Neuroprosthetics Market Value, By Application, 2017-2026 ($ Million)

Table 19 Asia-Pacific Neuroprosthetics Market Value, By Type, 2017-2026 ($ Million)

Table 20 Asia-Pacific Neuroprosthetics Market Value, By Technology, 2017-2026 ($ Million)

Table 21 Asia-Pacific Neuroprosthetics Market Value, By Application, 2017-2026 ($ Million)

Table 22 Middle East & Africa Neuroprosthetics Market Value, By Type, 2017-2026 ($ Million)

Table 23 Middle East & Africa Neuroprosthetics Market Value, By Technology, 2017-2026 ($ Million)

Table 24 Middle East & Africa Neuroprosthetics Market Value, By Application, 2017-2026 ($ Million)

Table 25 Boston Scientific: Overview

Table 26 Boston Scientific: Product Portfolio

Table 27 Boston Scientific: Key Developments

Table 28 Medtronic: Overview

Table 29 Medtronic: Product Portfolio

Table 30 Medtronic: Key Developments

Table 31 Abbott: Overview

Table 32 Abbott: Product Portfolio

Table 33 Abbott: Key Developments

Table 34 Cochlear: Overview

Table 35 Cochlear: Product Portfolio

Table 36 Cochlear: Key Developments

Table 37 LivaNova: Overview

Table 38 LivaNova: Product Portfolio

Table 39 LivaNova: Key Developments

Table 40 Sonova: Overview

Table 41 Sonova: Product Portfolio

Table 42 Sonova: Key Developments

Table 43 Retina Implant: Overview

Table 44 Retina Implant: Product Portfolio

Table 45 Retina Implant: Key Developments

Table 46 Med-El: Overview

Table 47 Med-El: Product Portfolio

Table 48 Med-El: Key Developments

Table 49 Neuropace: Overview

Table 50 Neuropace: Product Portfolio

Table 51 Neuropace: Key Developments

Table 52 NDI Medical: Overview

Table 53 NDI Medical: Product Portfolio

Table 54 NDI Medical: Key Developments

 List of Figures

Figure 1 Global Neuroprosthetics Market Share, By Type, 2018 & 2026 (%)

Figure 2 Global Neuroprosthetics Market Share, By Technology, 2018 & 2026 (%)

Figure 3 Global Neuroprosthetics Market Share, By Application, 2018 & 2026 (%)

Figure 4 Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 5 Global Neuroprosthetics Market Y-o-Y Growth, By Type, 2018-2026 (%)

Figure 6 Output Neural Prosthetics: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 7 Input Neural Prosthetics: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 8 Global Neuroprosthetics Market Y-o-Y Growth, By Technology, 2018-2026 (%)

Figure 9 Spinal Cord Stimulation: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 10 Deep Brain Stimulation: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 11 Vagus Nerve Stimulation: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 12 Transcranial magnetic Stimulation: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 13 Sacral Nerve Stimulation: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 14 Others: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 15 Global Neuroprosthetics Market Y-o-Y Growth, By Application, 2018-2026 (%)

Figure 16 Physiological Disorders: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 17 Motor Neuron Disorders: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 18 Cognitive Disorders: Global Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 19 North America Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 20 North America Neuroprosthetics Market Share, By Type, 2018 & 2026 (%)

Figure 21 North America Neuroprosthetics Market Share, By Technology, 2018 & 2026 (%)

Figure 22 North America Neuroprosthetics Market Share, By Application, 2018 & 2026 (%)

Figure 23 South America Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 24 South America Neuroprosthetics Market Share, By Type, 2018 & 2026 (%)

Figure 25 South America Neuroprosthetics Market Share, By Technology, 2018 & 2026 (%)

Figure 26 South America Neuroprosthetics Market Share, By Application, 2018 & 2026 (%)

Figure 27 Europe Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 28 Europe Neuroprosthetics Market Share, By Type, 2018 & 2026 (%)

Figure 29 Europe Neuroprosthetics Market Share, By Technology, 2018 & 2026 (%)

Figure 30 Europe Neuroprosthetics Market Share, By Application, 2018 & 2026 (%)

Figure 31 Asia-Pacific Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 32 Asia-Pacific Neuroprosthetics Market Share, By Type, 2018 & 2026 (%)

Figure 33 Asia-Pacific Neuroprosthetics Market Share, By Technology, 2018 & 2026 (%)

Figure 34 Asia-Pacific Neuroprosthetics Market Share, By Application, 2018 & 2026 (%)

Figure 35 Middle East & Africa Neuroprosthetics Market Value, 2017-2026 ($ Million)

Figure 36 Middle East & Africa Neuroprosthetics Market Share, By Type, 2018 & 2026 (%)

Figure 37 Middle East & Africa Neuroprosthetics Market Share, By Technology, 2018 & 2026 (%)

Figure 38 Middle East & Africa Neuroprosthetics Market Share, By Application, 2018 & 2026 (%)

Figure 39 Boston Scientific: Financials

Figure 40 Medtronic: Financials

Figure 41 Abbott: Financials

Figure 42 Cochlear: Financials

Figure 43 LivaNova: Financials

Figure 44 Sonova: Financials

Figure 45 Retina Implant: Financials

Figure 46 Med-El: Financials

Figure 47 Neuropace: Financials

Figure 48 NDI Medical: Financials

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