Market Overview:
The global neuroprosthetic system market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth in the market can be attributed to the increasing prevalence of neurological disorders, technological advancements in neuroprosthetic devices, and rising funding for research and development (R&D) activities in this field. The global neuroprosthetic system market is segmented on the basis of type, application, and region. On the basis of type, the market is divided into output neural prosthetics and input neural prosthetics. Output neural prosthetics are further classified into motor neural prosthetics and physiological disorders. Input neural prosthetics are further classified into cognitive disorders and other applications such as hearing aids or vision aids). On the basis of application, the market is divided into motor neuron diseases (MND), cerebral palsy (CP), spinal cord injuries (SCI), traumatic brain injuries (TBI), stroke, Alzheimer’s disease (AD), Parkinson’s disease (PD) epilepsy & other seizure disorder; multiple sclerosis(MS); amyotrophic lateral sclerosis(ALS); muscular dystrophy; congenital anomalies; urinary incontinence & fecal incontinence; pain management & others applications such as hearing aids or vision aids). Geographically,the global neuroprosthetic systemmarketis segmentedinto North America,, Europe,, Asia Pacificand Middle East& Africa . In 2017,.
Product Definition:
A neuroprosthetic system is a device that can substitute or supplement the lost or impaired function of a nervous system. The term usually refers to devices used to replace missing sensory functions, such as vision, hearing, and touch.
Output Neural Prosthetics:
The global output neural prosthetics is expected to witness significant growth over the forecast period owing to increasing demand for brain-computer interface systems. The technology has evolved from crude devices used for movement control to sophisticated neuroprosthetic systems that are currently under development. These advanced technologies are being extensively used in patients suffering from movement disorders such as spinal cord injury, cerebral palsy, and traumatic brain injury (TBI).
Input Neural Prosthetics:
The global input neural prosthetics and its usage in neuroprosthetic system market size was valued at USD 4.2 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The increasing prevalence of neurological disorders such as Parkinson’s disease, epilepsy, Alzheimer’s disease, spinal cord injury & trauma resulting in chronic pain are some major factors driving the growth of this industry globally.
Application Insights:
The motor neural prosthetics segment dominated the global market in terms of revenue share in 2017. The high adoption rate of this technology for the treatment of Parkinson¢â‚¬â„¢s disease is one of the key factors contributing to its dominance over other applications. Motor neuroprosthetic systems are also used for purposes other than movement, such as controlling wheelchairs or robotic arms.
Cognitive disorders are expected to be the fastest-growing application segment during the forecast period owing to increasing cases of Alzheimer¢â‚¬â„¢s disease and other dementia conditions across developed and developing countries worldwide. According to data published by Alzheimer's Association, more than 517,000 Americans were affected by Alzheimer's disease in 2016; however, only about 26% were diagnosed due to lack of awareness and resources among people as well as healthcare providers involved in their care.
Regional Analysis:
North America dominated the global market in 2017 owing to a rise in research and development activities by key companies. Moreover, increasing cases of neural disorders are also expected to drive the regional demand for neuroprosthetics over the forecast period. The Asia Pacific is expected to grow at a lucrative rate over the forecast period owing to an increase in government initiatives for improving healthcare infrastructure coupled with rising awareness about advanced technologies such as brain computer interface and neural implants.
Moreover, growing medical tourism due to affordable treatment options is also driving growth across this region. In addition, supportive government policies that enable access to advanced technology at low cost will boost market growth across this region during the forecast period (2018-2030).
Growth Factors:
- Increasing prevalence of neurological disorders: The global prevalence of neurological disorders is increasing at a significant rate. This is primarily due to the aging population and the increase in lifestyle-related diseases. This is expected to drive the demand for neuroprosthetic systems in the coming years.
- Technological advancements: The technological advancements in neuroprosthetic systems are helping to improve their efficacy and safety profile. This is resulting in an increased adoption of these devices, thereby driving the market growth.
- Growing awareness about benefits of neuroprosthetic systems: There is a growing awareness among healthcare professionals and patients about the benefits of using neuroprosthetic systems for treating various neurological conditions. This is likely to boost demand for these devices in the coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Neuroprosthetic System Market Research Report
By Type
Output Neural Prosthetics, Input Neural Prosthetics
By Application
Motor Neural Prosthetics, Physiological Disorders, Cognitive Disorders
By Companies
Medtronic, Abbott, Cochlear, Boston Scientific, Livanova, Second Sight, Med-El, Retina Implant, Sonova, Neuropace, Medtronic, Nevro
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
146
Number of Tables & Figures
103
Customization Available
Yes, the report can be customized as per your need.
Global Neuroprosthetic System Market Report Segments:
The global Neuroprosthetic System market is segmented on the basis of:
Types
Output Neural Prosthetics, Input Neural Prosthetics
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Motor Neural Prosthetics, Physiological Disorders, Cognitive Disorders
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Medtronic
- Abbott
- Cochlear
- Boston Scientific
- Livanova
- Second Sight
- Med-El
- Retina Implant
- Sonova
- Neuropace
- Medtronic
- Nevro
Highlights of The Neuroprosthetic System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Output Neural Prosthetics
- Input Neural Prosthetics
- By Application:
- Motor Neural Prosthetics
- Physiological Disorders
- Cognitive Disorders
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Neuroprosthetic System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A neuroprosthetic system is a technology that helps people with disabilities or injuries to regain some level of independence. Neuroprosthetic systems can help people with conditions such as paralysis, cerebral palsy, and traumatic brain injury to regain some degree of mobility and communication.
Some of the major companies in the neuroprosthetic system market are Medtronic, Abbott, Cochlear, Boston Scientific, Livanova, Second Sight, Med-El, Retina Implant, Sonova, Neuropace, Medtronic, Nevro.
The neuroprosthetic system market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Neuroprosthetic System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Neuroprosthetic System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Neuroprosthetic System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Neuroprosthetic System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Neuroprosthetic System Market Size & Forecast, 2020-2028
4.5.1 Neuroprosthetic System Market Size and Y-o-Y Growth
4.5.2 Neuroprosthetic System Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Output Neural Prosthetics
5.2.2 Input Neural Prosthetics
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Motor Neural Prosthetics
6.2.2 Physiological Disorders
6.2.3 Cognitive Disorders
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Neuroprosthetic System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Neuroprosthetic System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Output Neural Prosthetics
9.6.2 Input Neural Prosthetics
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Motor Neural Prosthetics
9.10.2 Physiological Disorders
9.10.3 Cognitive Disorders
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Output Neural Prosthetics
10.6.2 Input Neural Prosthetics
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Motor Neural Prosthetics
10.10.2 Physiological Disorders
10.10.3 Cognitive Disorders
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Output Neural Prosthetics
11.6.2 Input Neural Prosthetics
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Motor Neural Prosthetics
11.10.2 Physiological Disorders
11.10.3 Cognitive Disorders
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Output Neural Prosthetics
12.6.2 Input Neural Prosthetics
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Motor Neural Prosthetics
12.10.2 Physiological Disorders
12.10.3 Cognitive Disorders
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Output Neural Prosthetics
13.6.2 Input Neural Prosthetics
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Motor Neural Prosthetics
13.10.2 Physiological Disorders
13.10.3 Cognitive Disorders
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Neuroprosthetic System Market: Competitive Dashboard
14.2 Global Neuroprosthetic System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Medtronic
14.3.2 Abbott
14.3.3 Cochlear
14.3.4 Boston Scientific
14.3.5 Livanova
14.3.6 Second Sight
14.3.7 Med-El
14.3.8 Retina Implant
14.3.9 Sonova
14.3.10 Neuropace
14.3.11 Medtronic
14.3.12 Nevro
