Neuroprosthetics Market
Global Neuroprosthetics Market Size, Share & Trends Analysis Report by Type (Motor Prosthetics, Sensory Prosthetics, Cognitive Prosthetics, and Visual Prosthetics), by Treatment Technique (Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS), Sacral Nerve Stimulator (SNS), and Spinal Cord Stimulator (SCS) and by Application (Motor Disorder, Physiological Disorder, and Cognitive Disorder) Forecast Period (2022-2028)
The global neuroprosthetics market is anticipated to grow at a significant CAGR of 12.7% during the forecast period. The factor that drives the global neuroprosthetics market is the increasing number of people suffering from hearing problems. For instance, According to the Centers for Disease Control and Prevention, 2021, nearly 16.0% of adults in the US report hearing trouble that is one out of 5 men, and one out of 8 women report they have at least some trouble hearing. Furthermore, the preference for drug therapies is higher among Parkinson’s patients due to the lower cost and convenience of the treatment. The availability of these alternative treatment options is one of the significant factors that hinder the global neuroprosthetics market.
Impact of COVID-19 Pandemic on Global Neuroprosthetics Market
The neuroprosthetics market was impacted by COVID-19 due to lower hospitals and diagnostic center visit due to high penetration of COVID-19 across the globe. However, in second quarter, the ease on COVID-19 measures has benefited the overall industry growth.
Segmental Outlook
The global neuroprosthetics market is segmented based on the type, treatment technique, and application. Based on the type, the market is segmented into motor prosthetics, sensory prosthetics, cognitive prosthetics, and visual prosthetics. Based on the treatment technique, the market is sub-segmented into the deep brain stimulation (DBS), vagus nerve stimulation (VNS), sacral nerve stimulator (SNS), and spinal cord stimulator (SCS). Based on the application, the market is sub-segmented into the motor disorder, physiological disorder, and cognitive disorder. The above mentioned segments can be customized as per the requirements. The motor disorder segment is expected to cater a significant share in the global neuroprosthetics market due to increasing incidence of neurological disorders such as Parkinson’s disease and epilepsy.
Global Neuroprosthetics Market Share by Treatment Technique, 2021 (%)
The Deep Brain Stimulation Segment is Expected to Holds the Prominent Share in the Global Neuroprosthetics Market
The deep brain stimulation segment is expected to hold a prominent share in the global neuroprosthetics market due to the increasing number of people who have Parkinson’s disease across the globe. Several key players are in the trial stage for brain stimulation to provide therapy to manage symptoms of Parkinson's disease. For instance, in January 2021, Medtronic plc announced the first enrollment in ADAPT-PD (Adaptive DBS Algorithm for Personalized Therapy in Parkinson's Disease), its trial evaluating the safety and efficacy of adaptive deep brain stimulation (DBS) in patients with Parkinson's Disease (PD).
Regional Outlooks
The global neuroprosthetics market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for particular region or country level as per the requirement. The North America region is expected to hold a prominent share in the global neuroprosthetics market due to the increasing number of children born with hearing defects. According to the Hearing Loss Association of America, nearly 2 to 3 out of every 1,000 children in the United States are born with a detectable level of hearing loss in one or both ears.
Global Neuroprosthetics Market Growth, by Region 2022-2028
The Asia-Pacific is Expected to be the Fastest-Growing Region in the Global Neuroprosthetics Market
The Asia-Pacific is expected to be the fastest-growing region during the forecast period due to increased investment in healthcare technology and infrastructure. Various industry players in this region are launching new products to stay competitive in the market. For instance, in May 2022, India Medtronic launched the Percept PC Deep Brain Stimulation (DBS) system. The system enabled with BrainSense technology is designed to capture brain signals while simultaneously delivering therapeutic stimulation, inside and outside the clinic. Ergonomically designed, the Percept PC device provided enhanced comfort and is suggested for patients with Parkinson’s disease, tremor, dystonia, and epilepsy.
Market Players Outlook
The major companies serving the global neuroprosthetics market include Abbott Laboratories, Boston Scientific Corporation, BrainGate, Cochlear Ltd, Cyberonics Inc., Medtronics Inc., Livanova Plc, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2022, Second Sight Medical Products, a leading developer and marketer of implantable visual prosthetics that are intended to create an artificial form of useful vision for blind individuals, receive the US Food and Drug Administration (FDA) has approved the Argus 2s Retinal Prosthesis System.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global neuroprosthetics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Neuroprosthetics Market
• Recovery Scenario of Global Neuroprosthetics Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Medtronic
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Cochlear Ltd.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. LivaNova PLC
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Demant A/S.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. MED-EL Medical Electronics
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Neuroprosthetics Market by Type
4.1.1. Motor Prosthetics
4.1.2. Sensory Prosthetics
4.1.3. Cognitive Prosthetics
4.1.4. Visual Prosthetics
4.2. Global Neuroprosthetics Market by Treatment Technique
4.2.1. Deep Brain Stimulation (DBS)
4.2.2. Vagus Nerve Stimulation(VNS)
4.2.3. Sacral Nerve Stimulator(SNS)
4.2.4. Spinal Cord Stimulator(SCS)
4.3. Global Neuroprosthetics Market by Application
4.3.1. Motor Disorder
4.3.2. Physiological Disorder
4.3.3. Cognitive Disorder
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Abbott Laboratories
6.2. ALEVA NEUROTHERAPEUTICS SA
6.3. Bioventus Inc.
6.4. Boston Scientific Corp.
6.5. CorTec GmbH
6.6. electroCore, Inc.
6.7. Functional Neuromodulation Ltd.
6.8. Mass General Brigham Inc
6.9. Neuronetics, Inc.
6.10. NeuroPace, Inc.
6.11. Nevro Corp.
6.12. Oticon Medical A/S
6.13. ReShape Lifesciences Inc.
6.14. Sonova AG
6.15. Soterix Medical Inc.
1. GLOBAL NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
2. GLOBAL MOTOR PROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL SENSORY PROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL COGNITIVE PROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL COGNITIVE PROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY TREATMENT TECHNIQUE, 2020-2027 ($ MILLION)
7. GLOBAL DEEP BRAIN STIMULATION (DBS) FOR NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL VAGUS NERVE STIMULATION (VNS) FOR NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL SACRAL NERVE STIMULATOR (SNS) FOR NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL SPINAL CORD STIMULATOR (SCS) FOR NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
12. GLOBAL NEUROPROSTHETICS FOR MOTOR DISORDER MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL NEUROPROSTHETICS FOR PHYSIOLOGICAL DISORDER MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL NEUROPROSTHETICS FOR COGNITIVE DISORDER MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
16. NORTH AMERICAN NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
17. NORTH AMERICAN NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
18. NORTH AMERICAN NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY TREATMENT TECHNIQUE, 2020-2027 ($ MILLION)
19. NORTH AMERICAN NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
20. EUROPEAN NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
21. EUROPEAN NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
22. EUROPEAN NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY TREATMENT TECHNIQUE, 2020-2027 ($ MILLION)
23. EUROPEAN NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
24. ASIA-PACIFIC NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
25. ASIA-PACIFIC NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
26. ASIA-PACIFIC NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY TREATMENT TECHNIQUE, 2020-2027 ($ MILLION)
27. ASIA-PACIFIC NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
28. REST OF THE WORLD NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
29. REST OF THE WORLD NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
30. REST OF THE WORLD NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY TREATMENT TECHNIQUE, 2020-2027 ($ MILLION)
31. REST OF THE WORLD NEUROPROSTHETICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL NEUROPROSTHETICS MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL NEUROPROSTHETICS MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL NEUROPROSTHETICS MARKET, 2021-2027 (%)
4. GLOBAL NEUROPROSTHETICS MARKET SHARE BY TYPE, 2020 VS 2027 (%)
5. GLOBAL MOTOR PROSTHETICS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
6. GLOBAL SENSORY PROSTHETICS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
7. GLOBAL COGNITIVE PROSTHETICS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
8. GLOBAL VISUAL PROSTHETICS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL NEUROPROSTHETICS MARKET SHARE BY TREATMENT TECHNIQUE, 2020 VS 2027 (%)
10. GLOBAL DEEP BRAIN STIMULATION (DBS) FOR NEUROPROSTHETICS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
11. GLOBAL VAGUS NERVE STIMULATION (VNS) FOR NEUROPROSTHETICS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
12. GLOBAL SACRAL NERVE STIMULATOR (SNS) FOR NEUROPROSTHETICS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
13. GLOBAL SPINAL CORD STIMULATOR (SCS) FOR NEUROPROSTHETICS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
14. GLOBAL NEUROPROSTHETICS MARKET SHARE BY APPLICATION, 2020 VS 2027 (%)
15. GLOBAL NEUROPROSTHETICS FOR MOTOR DISORDER MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
16. GLOBAL NEUROPROSTHETICS FOR PHYSIOLOGICAL DISORDER MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
17. GLOBAL NEUROPROSTHETICS FOR COGNITIVE DISORDER MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
18. GLOBAL NEUROPROSTHETICS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
19. US NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
20. CANADA NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
21. UK NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
22. FRANCE NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
23. GERMANY NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
24. ITALY NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
25. SPAIN NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
26. REST OF EUROPE NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
27. INDIA NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
28. CHINA NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
29. JAPAN NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
30. SOUTH KOREA NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
31. REST OF ASIA-PACIFIC NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
32. REST OF THE WORLD NEUROPROSTHETICS MARKET SIZE, 2020-2027 ($ MILLION)
