Neuroprosthetics Market

Neuroprosthetics Market by Type (Output (Cognitive, Motor Prosthetics), Input (Cochlear, Retinal Implant)), Techniques (Deep Brain, Vagus Nerve, Spinal Cord stimulation), Application (Epilepsy, Paralysis, Alzheimer’s Disease) - Global Forecast to 2022

Report Code: MD 5908 Jan, 2018, by marketsandmarkets.com

[118 Pages Report] The neuroprosthetics market was valued at USD 5.28 Billion in 2016 and expected to grow at a CAGR of 12.4% during the forecast period (2017–2022) to reach USD 10.48 Billion in 2022. Factors such as increasing number of neurological disorders, increasing incidence of hearing loss, increasing prevalence of diabetes, and increasing cases of amputation due to the rising number of accidents & injuries are contributing to the growth of this market.

Years considered in this report:

2016 – Base Year
2017 – Estimated Year
2022 – Projected Year

The objectives of this study are as follows:

  • To define, describe, and forecast the neuroprosthetics market on the basis of type, technique, application, and region
  • To provide detailed information regarding the major factors influencing growth of the market (drivers, opportunities, and restrains)
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
  • To forecast revenue of the market segments with respect to four main regional segments, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
  • To profile key players and comprehensively analyze their market shares and core competencies in terms of market development and growth strategies
  • To track and analyze competitive developments such as merger and acquisitions, regulatory approvals, product launches, expansion, and agreement in the neuroprosthetics market

Research Methodology

Top-down and bottom-up approaches were used to estimate and validate the size of the neuroprosthetics market and to estimate the size of various other dependent submarkets. The overall market size was used in the top-down approach to estimate the sizes of other individual markets (mentioned in the market segmentation by type, technique, application, and region) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained. Various secondary sources referred to for this research study include publications from government sources such as the International Neuromodulation Society (INS), American Academy of Ophthalmology, American Speech-Language-Hearing Association; corporate filings such as annual reports, SEC filings, investor presentations, and financial statements have been used to identify and collect information useful for this extensive commercial study of the neuroprosthetics market. Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess prospects of the neuroprosthetics market. The breakdown of profiles of primaries is shown in the figure below:

Neuroprosthetics Market

To know about the assumptions considered for the study, download the pdf brochure

Key players operating in the neuroprosthetics market include Medtronic (US), Boston Scientific (US), Abbott Laboratories (US), LivaNova (UK), Cochlear (Australia), and Secong Sight (US).

Target Audience for this Report:

  • Neuroprosthetics manufacturers and vendors
  • Distributors of neuroprosthetics devices
  • Market research and consulting companies
  • Insurance provider
  • Healthcare players

Value Addition for the Buyer:

This report aims to provide insights into the global neuroprosthetics market. It provides valuable information on neuroprosthetics type, technique, and application. Details on regional markets for these segments are also presented in this report. In addition, leading players in the market are profiled to understand the strategies undertaken by them to be competitive in this market.

Scope of the Report:

This report categorizes the neuroprosthetics market into the following segments:

Neuroprosthetics Market, by Type

  • Output Neural Prosthetics
    • Motor Prosthetics
    • Cognitive Prosthetics
  • Input Neural Prosthetics
    • Cochlear Implants
    • Bionic Eye/Retinal Implants

Neuroprosthetics Market, by Technique

  • Spinal Cord Stimulation
  • Deep Brain Stimulation
  • Vagus Nerve Stimulation
  • Sacral Nerve Stimulation
  • Transcranial magnetic Stimulation

Neuroprosthetics Market, by Application

  • Motor Neural Prosthetics
    • Parkinson’s Disease
    • Epilepsy
  • Physiological Disorders
    • Auditory processing Disorders
    • Ophthalmic Disorders
    • Cardiovascular Disorders
    • Urology Disorders
  • Cognitive Disorders
    • Alzheimer’s Disease
    • Paralysis

Neuroprosthetics Market, by Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Rest of Europe
  • Asia Pacific
  • Rest of the World (RoW)

Customization Options:

  • Detailed analysis and profiling of additional market players (up to 5)
  • Further breakdown of the neuroprosthetics market into specific countries/regions in Asia Pacific and the Rest of the World

Neuroprostheses uses electrodes to interface with the central or peripheral nervous system to restore lost motor or sensory capabilities. These devices can receive neural signals from the external environment & brain, and convert the signals to restore functions such as loss of hearing and vision. They have applications in cognitive disorders, ophthalmic disorders, motor disorders, and auditory disorders. The global neuroprosthetics market is expected to reach USD 10.48 Billion by 2022 from USD 5.84 Billion in 2017, at a CAGR of 12.4%. Increasing number of neurological disorders, increasing incidence of hearing loss, increasing prevalence of diabetes, and increasing cases of amputation due to the rising number of accidents & injuries are the major driving factors for this market.

The neuroprosthetics market is segmented on the basis of type, technique, and application. The physiological disorders market is subsegmented into auditory processing disorders, ophthalmic disorders, cardiovascular disorders, and urology disorders. The auditory processing disorders segment is expected to account for the largest share of the market in 2017. The growth in this segment is primarily attributed to increasing number of people suffering from hearing loss.

Based on output neural prosthetics, the neuroprosthetics market is subsegmented into motor disorders and cognitive disorders. In 2017, the motor disorders segment accounted for the largest share of the market. This is because of increasing incidence of Parkinson's disease and epilepsy.

Neuroprosthetics Market

By region, the neuroprosthetics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The market is dominated by North America, followed by Europe, however, the APAC region is expected to witness the highest growth rate during the forecast period. The presence of emerging economies like China and India; large population; increasing funding and support for the launches of new products, and increasing neurological disorders in the region are some of the key factors driving the high growth of this regional segment.

Availability of alternative treatment, dearth of trained professionals, and high cost of neuroprosthetics devices are the major factors restraining the growth of the neuroprosthetics market. According to estimates from the American Academy of Neurology, there were 16,366 neurologists in the US in 2012, and this figure is estimated to reach 18,060 by 2025; however, the demand for neurologists in the country is projected to increase from 18,180 in 2012 to 21,440 by 2025. As a result, there will be a shortfall of about 3,400 neurologists (or a 19% drop in the total number of neurologists) in the country by 2025. Availability of stem cell therapy and drug therapy alternative treatment option for several neurological disorders limits the demand for neuroprosthetic devices and implants among the targeted population.

Medtronic (US), Boston Scientific (US), Abbott (US), Second Sight (US), and Cochlear (Australia) are the top players in this market. These companies have a broad product portfolio with comprehensive features and have a strong geographical presence.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 12)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Markets Covered
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions

3 Executive Summary (Page No. - 22)

4 Premium Insights (Page No. - 25)
    4.1 Neuroprosthetics Market Overview
    4.2 European Output Neural Prosthetics Market, By Application and Country
    4.3 Geographic Analysis of the Neuroprosthetics Market, By Country
    4.4 Output Neural Prosthetics Market, By Type

5 Market Overview (Page No. - 29)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Number of Patients Suffering From Neurological Disorders and Nerve Injury
                    5.2.1.2 Increasing Incidence of Hearing Loss
                    5.2.1.3 Increasing Cases of Amputation Due to the Rising Number of Accidents & Injuries
                    5.2.1.4 Increasing Prevalence of Diabetes
           5.2.2 Restraints
                    5.2.2.1 Availability of Alternative Treatment Options
                    5.2.2.2 High Cost of Neuroprosthetics and Unfavorable Reimbursement Scenario
                    5.2.2.3 Dearth of Trained Professionals
           5.2.3 Opportunities
                    5.2.3.1 Higher Growth Opportunities in Emerging Economies
                    5.2.3.2 Expanded Target Applications and New Indications

6 Neuroprosthetics Market, By Type (Page No. - 34)
    6.1 Introduction
    6.2 Output Neural Prosthetics
           6.2.1 Motor Prosthetics
           6.2.2 Cognitive Prosthetics
    6.3 Input Neural Prosthetics
           6.3.1 Cochlear Implants
           6.3.2 Bionic Eye/Retinal Implants

7 Neuroprosthetics Market, By Technique (Page No. - 41)
    7.1 Introduction
    7.2 Spinal Cord Stimulation
    7.3 Deep Brain Stimulation
    7.4 Vagus Nerve Stimulation
    7.5 Sacral Nerve Stimulation
    7.6 Transcranial Magnetic Stimulation

8 Neuroprosthetics Market, By Application (Page No. - 47)
    8.1 Introduction
    8.2 Motor Neuron Disorders
           8.2.1 Parkinson’s Disease
           8.2.2 Epilepsy
    8.3 Physiological Disorders
           8.3.1 Auditory Processing Disorders
           8.3.2 Ophthalmic Disorders
           8.3.3 Cardiovascular Disorders
           8.3.4 Urology Disorders
    8.4 Cognitive Disorders
           8.4.1 Alzheimer’s Disease
           8.4.2 Paralysis

9 Neuroprosthetics Market, By Region (Page No. - 57)
    9.1 Introduction
    9.2 North America
           9.2.1 US
           9.2.2 Canada
    9.3 Europe
           9.3.1 Germany
           9.3.2 UK
           9.3.3 France
           9.3.4 Rest of Europe
    9.4 Asia Pacific
    9.5 Rest of the World

10 Competitive Landscape (Page No. - 85)
     10.1 Overview
     10.2 Market Share Analysis, 2016
     10.3 Competitive Scenario
             10.3.1 Product Launches and Approvals
             10.3.2 Acquisitions
             10.3.3 Agreements
             10.3.4 Mergers
             10.3.5 Expansions

11 Company Profiles (Page No. - 89)
(Overview, Products Offered, Recent Developments, MnM View)*
     11.1 Medtronic
     11.2 Abbott
     11.3 Cochlear
     11.4 Boston Scientific
     11.5 Livanova
     11.6 Second Sight
     11.7 Med-El
     11.8 Retina Implant
     11.9 Sonova
     11.10 Neuropace
     11.11 NDI Medical
     11.12 Nevro

*Details on Overview, Products Offered, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 110)
     12.1 Industry Insights
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details


List of Tables (84 Tables)

Table 1 Incidence of Hearing Loss, By Region, 2012 (Million)
Table 2 Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 3 Output Neural Prosthetics Market, By Type, 2015–2022 (USD Million)
Table 4 Output Neural Prosthetics Market, By Region, 2015–2022 (USD Million)
Table 5 Motor Prosthetics Market, By Region, 2015–2022 (USD Million)
Table 6 Cognitive Prosthetics Market, By Region, 2015–2022 (USD Million)
Table 7 Input Neural Prosthetics Market, By Type, 2015–2022 (USD Million)
Table 8 Input Neural Prosthetics Market, By Region, 2015–2022 (USD Million)
Table 9 Cochlear Implants Market, By Region, 2015–2022 (USD Million)
Table 10 Bionic Eye/Retinal Implants Market, By Region, 2015–2022 (USD Million)
Table 11 Neuroprosthetics Market, By Technique, 2015–2022 (USD Million)
Table 12 Spinal Cord Stimulation Market, By Region, 2015–2022 (USD Million)
Table 13 Deep Brain Stimulation Market, By Region, 2015–2022 (USD Million)
Table 14 Vagus Nerve Stimulation Market, By Region, 2015–2022 (USD Million)
Table 15 Sacral Nerve Stimulation Market, By Region, 2015–2022 (USD Million)
Table 16 Transcranial Magnetic Stimulation Market, By Region, 2015–2022 (USD Million)
Table 17 Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 18 Neuroprosthetics Market for Motor Neuron Disorders, By Type, 2015–2022 (USD Million)
Table 19 Neuroprosthetics Market for Motor Neuron Disorders, By Region, 2015–2022 (USD Million)
Table 20 Neuroprosthetics Market for Parkinson’s Disease, By Region, 2015–2022 (USD Million)
Table 21 Neuroprosthetics Market for Epilepsy, By Region, 2015–2022 (USD Million)
Table 22 Neuroprosthetics Market for Physiological Disorders, By Type, 2015–2022 (USD Million)
Table 23 Neuroprosthetics Market for Physiological Disorders, By Region, 2015–2022 (USD Million)
Table 24 Neuroprosthetics Market for Auditory Processing Disorders, By Region, 2015–2022 (USD Million)
Table 25 Neuroprosthetics Market for Ophthalmic Disorders, By Region, 2015–2022 (USD Million)
Table 26 Neuroprosthetics Market for Cardiovascular Disorders, By Region, 2015–2022 (USD Million)
Table 27 Neuroprosthetics Market for Urology Disorders, By Region, 2015–2022 (USD Million)
Table 28 Neuroprosthetics Market for Cognitive Disorders, By Type, 2015–2022 (USD Million)
Table 29 Neuroprosthetics Market for Cognitive Disorders, By Region, 2015–2022 (USD Million)
Table 30 Neuroprosthetics Market for Alzheimer’s Disease, By Region, 2015–2022 (USD Million)
Table 31 Neuroprosthetics Market for Paralysis, By Region, 2015–2022 (USD Million)
Table 32 Neuroprosthetics Market, By Region, 2015–2022 (USD Million)
Table 33 North America: Neuroprosthetics Market, By Country, 2015–2022 (USD Million)
Table 34 North America: Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 35 North America: Output Neural Prosthetics Market, By Type, 2015–2022 (USD Million)
Table 36 North America: Input Neural Prosthetics Market, By Type, 2015–2022 (USD Million)
Table 37 North America: Neuroprosthetics Market, By Technique, 2015–2022 (USD Million)
Table 38 North America: Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 39 North America: Neuroprosthetics Market for Motor Neuron Disorders, By Type, 2015–2022 (USD Million)
Table 40 North America: Neuroprosthetics Market for Physiological Disorders, By Type, 2015–2022 (USD Million)
Table 41 North America: Neuroprosthetics Market for Cognitive Disorders, By Type, 2015–2022 (USD Million)
Table 42 US: Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 43 US: Neuroprosthetics Market, By Technology, 2015–2022 (USD Million)
Table 44 US: Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 45 Canada: Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 46 Canada: Neuroprosthetics Market, By Technology, 2015–2022 (USD Million)
Table 47 Canada: Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 48 Europe: Neuroprosthetics Market, By Country, 2015–2022 (USD Million)
Table 49 Europe: Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 50 Europe: Output Neural Prosthetics Market, By Type, 2015–2022 (USD Million)
Table 51 Europe: Input Neural Prosthetics Market, By Type, 2015–2022 (USD Million)
Table 52 Europe: Neuroprosthetics Market, By Technology, 2015–2022 (USD Million)
Table 53 Europe: Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 54 Europe: Neuroprosthetics Market for Motor Neuron Disorders, By Type, 2015–2022 (USD Million)
Table 55 Europe: Neuroprosthetics Market for Physiological Disorders, By Type, 2015–2022 (USD Million)
Table 56 Europe: Neuroprosthetics Market for Cognitive Disorders, By Type, 2015–2022 (USD Million)
Table 57 Germany: Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 58 Germany: Neuroprosthetics Market, By Technology, 2015–2022 (USD Million)
Table 59 Germany: Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 60 UK: Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 61 UK: Neuroprosthetics Market, By Technology, 2015–2022 (USD Million)
Table 62 UK: Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 63 France: Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 64 France: Neuroprosthetics Market, By Technology, 2015–2022 (USD Million)
Table 65 France: Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 66 Rest of Europe: Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 67 Rest of Europe: Neuroprosthetics Market, By Technology, 2015–2022 (USD Million)
Table 68 Rest of Europe: Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 69 Asia Pacific: Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 70 Asia Pacific: Output Neural Prosthetics Market, By Type, 2015–2022 (USD Million)
Table 71 Asia Pacific: Input Neural Prosthetics Market, By Type, 2015–2022 (USD Million)
Table 72 Asia Pacific: Neuroprosthetics Market, By Technology, 2015–2022 (USD Million)
Table 73 Asia Pacific: Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 74 Asia Pacific: Neuroprosthetics Market for Motor Neuron Disorders, By Type, 2015–2022 (USD Million)
Table 75 Asia Pacific: Neuroprosthetics Market for Physiological Disorders, By Type, 2015–2022 (USD Million)
Table 76 Asia Pacific: Neuroprosthetics Market for Cognitive Disorders, By Type, 2015–2022 (USD Million)
Table 77 RoW: Neuroprosthetics Market, By Type, 2015–2022 (USD Million)
Table 78 RoW: Output Neural Prosthetics Market, By Type, 2015–2022 (USD Million)
Table 79 RoW: Input Neural Prosthetics Market, By Type, 2015–2022 (USD Million)
Table 80 RoW: Neuroprosthetics Market, By Technology, 2015–2022 (USD Million)
Table 81 RoW: Neuroprosthetics Market, By Application, 2015–2022 (USD Million)
Table 82 RoW: Neuroprosthetics Market for Motor Neuron Disorders, By Type, 2015–2022 (USD Million)
Table 83 RoW: Neuroprosthetics Market for Physiological Disorders, By Type, 2015–2022 (USD Million)
Table 84 RoW: Neuroprosthetics Market for Cognitive Disorders, By Type, 2015–2022 (USD Million)


List of Figures (31 Figures)

Figure 1 Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation Methodology
Figure 5 Neuroprosthetics Market, By Type, 2017 vs 2022 (USD Billion)
Figure 6 Neuroprosthetics Market, By Technique, 2017 vs 2022 (USD Billion)
Figure 7 Neuroprosthetics Market, By Application, 2017 vs 2022 (USD Billion)
Figure 8 Neuroprosthetics Market, By Region, 2017 vs 2022 (USD Billion)
Figure 9 Rising Incidence of Hearing Loss and Growing Prevalence of Neurological Disorders to Drive the Growth of the Market
Figure 10 Output Neural Prosthetics to Dominate the European Neuroprosthetics Market in 2017
Figure 11 France to Register the Highest CAGR During the Forecast Period (2017–2022)
Figure 12 Motor Prosthetics Will Continue to Register Highest Growth Rate During Forecast Period (2017-2022)
Figure 13 Neuroprosthetics Market: Drivers, Restraints, & Opportunities
Figure 14 Output Neural Prosthetics Segment to Dominate the Market Between 2017 and 2022
Figure 15 Spinal Cord Stimulation, the Largest Technique Segment in the Market
Figure 16 Motor Neuron Disorders Segment to Dominate the Neuroprosthetics Market During the Forecast Period
Figure 17 North America to Dominate the Neuroprosthetics Market in 2017
Figure 18 North America: Neuroprosthetics Market Snapshot
Figure 19 Europe: Neuroprosthetics Market Snapshot
Figure 20 Asia Pacific: Neuroprosthetics Market Snapshot
Figure 21 RoW: Neuroprosthetics Market Snapshot
Figure 22 Product Approvals & Launches- Key Strategy Adopted By Players Between 2014 and 2017
Figure 23 Share of Companies in the Neuroprosthetics Market, 2016
Figure 24 Medtronic: Company Snapshot
Figure 25 Abbott: Company Snapshot
Figure 26 Cochlear: Company Snapshot
Figure 27 Boston Scientific: Company Snapshot
Figure 28 Livanova: Company Snapshot
Figure 29 Second Sight: Company Snapshot
Figure 30 Sonova: Company Snapshot
Figure 31 Nevro: Company Snapshot


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