Neuroprosthetics Market Size, Share & Trends Analysis Report By Type (Motor Prosthetics, Cochlear Implants, Cognitive Prosthetics, Retinal Implants), By Technology, By Application, By Region, And Segment Forecasts, 2024

Description

Neuroprosthetics Market Growth & Trends:

The global neuroprosthetics market size is expected to reach USD 34.90 billion by 2030, expanding at a CAGR of 15.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing prevalence of neurological disorders coupled with the demand for cost-effective and technologically advanced implants is expected to drive the demand for neuroprosthetics market in the coming years.

In addition, the associated high costs and side effects of conventional medications are responsible for the rising adoption rate of implants. For instance, the increasing adoption of Vagus Nerve Stimulation (VNS) therapy system over therapeutics such as antidepressants in the treatment of Alzheimer's disease, brain aneurysm, and strokes is propelling the overall market growth.

Moreover, the rising geriatric population prone to epilepsy opting for neural implantation over the conventional medication is exerting a positive effect on the overall industry growth.

Neuroprosthetics Market Report Highlights:

The motor prosthetic devices segment dominated in terms of revenue share and accounted for over 42.8.0% of the market in 2023, followed by visual cochlear implants. Whereas, retinal neuroprosthetics were identified as one of the fastest growing market segment owing to the rising penetration and the increasing R&D efforts pertaining to product innovation.
The Spinal Cord Stimulation (SCS) segment held the largest share at over 49.2% owing to the analgesic property of the SCS therapy used in the treatment of ischemic pain, failed back surgery syndrome, and complex refractory pain syndrome. Furthermore, it finds applications in intraspinal and epidural microstimulation for inducing leg movements. In addition, technological advancements in this segment is expected to further boost market growth in the near future. The sacral Nerve Stimulation (SNS) is expected to be the fastest growing segment over the forecast period due to its applications in chronic intractable pelvic ache and neurogenic bladder.
In the applications segment, motor neuron disorders held the largest segment due to the rising incidences of Parkinson's disease and epilepsy. For instance, as per the report published by Parkinson's disease Foundation in 2012, approximately 60,000 Americans were diagnosed with Parkinson's disease each year and the number is expected to grow further over the forecast period thereby fueling this segment's growth.
In 2023, North America dominated the overall neuroprosthetics market at over 42.5% owing to the large presence of neural implants manufacturers, higher R&D investments, and the availability of funds from both government and private institutes. 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.
Asia Pacific is anticipated to be the fastest growing segment due to the introduction of multinational healthcare establishments promoting safe and effective medical procedures along with the rising awareness levels amongst consumers
Strategic collaborations and mergers & acquisitions are expected to keep the industry rivalry level high over the forecast period

Product Code: 978-1-68038-891-6

Chapter 1. Methodology and Scope

1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources

Chapter 2. Executive Summary

2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Neuroprosthetics Market Variables, Trends, & Scope

3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Billion)
3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
3.4. Neuroprosthetics Market Analysis Tools
- 3.4.1. Porter's Analysis
  - 3.4.1.1. Bargaining power of the suppliers
  - 3.4.1.2. Bargaining power of the buyers
  - 3.4.1.3. Threats of substitution
  - 3.4.1.4. Threats from new entrants
  - 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
  - 3.4.2.1. Political landscape
  - 3.4.2.2. Economic and Social landscape
  - 3.4.2.3. Technological landscape
  - 3.4.2.4. Environmental landscape
  - 3.4.2.5. Legal landscape

Chapter 4. Neuroprosthetics Market: Type Estimates & Trend Analysis

4.1. Segment Dashboard
4.2. Neuroprosthetics Market: Type Movement Analysis, USD Million, 2023 & 2030
4.3. Motor Prosthetics
- 4.3.1. Motor Prosthetics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.4. Cochlear Implants
- 4.4.1. Cochlear Implants Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.5. Cognitive Prosthetics
- 4.5.1. Cognitive Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.6. Retinal Implants
- 4.6.1. Retinal Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 5. Neuroprosthetics Market: Technology Estimates & Trend Analysis

5.1. Segment Dashboard
5.2. Neuroprosthetics Market: Technology Movement Analysis, USD Million, 2023 & 2030
5.3. Deep Brain Stimulation (DBS)
- 5.3.1. Deep Brain Stimulation (DBS) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.4. Vagus Nerve Stimulation (VNS)
- 5.4.1. Vagus Nerve Stimulation (VNS) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.5. Spinal Cord Stimulation (SCS)
- 5.5.1. Spinal Cord Stimulation (SCS) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.6. Sacral Nerve Stimulation (SNS)
- 5.6.1. Sacral Nerve Stimulation (SNS) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 6. Neuroprosthetics Market: Application Estimates & Trend Analysis

6.1. Segment Dashboard
6.2. Neuroprosthetics Market: Application Movement Analysis, USD Million, 2023 & 2030
6.3. Motor Neuron Disorders
- 6.3.1. Motor Neuron Disorders Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. Parkinson's Disease
  - 6.3.2.1. Parkinson's Disease Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Epilepsy
  - 6.3.3.1. Epilepsy Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Physiological Disorders
- 6.4.1. Physiological Disorders Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Auditory Disorders
  - 6.4.2.1. Auditory Disorders Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.3. Ophthalmic Disorders
  - 6.4.3.1. Ophthalmic Disorders Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.4. Cardiac Disorders
  - 6.4.4.1. Cardiac Disorders Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5. Kidney Disorders
  - 6.4.5.1. Kidney Disorders Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5. Cognitive Disorders
- 6.5.1. Cognitive Disorders Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Alzheimer's Disease
  - 6.5.2.1. Alzheimer's Disease Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.3. Severe Depression
  - 6.5.3.1. Severe Depression Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 7. Neuroprosthetics Market: Regional Estimates & Trend Analysis

7.1. Neuroprosthetics Market Share, By Region, 2023 & 2030, USD Million
7.2. North America
- 7.2.1. North America Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.2. U.S.
  - 7.2.2.1. U.S. Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.3. Canada
  - 7.2.3.1. Canada Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.4. Mexico
  - 7.2.4.1. Mexico Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.3. Europe
- 7.3.1. Europe Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.2. U.K.
  - 7.3.2.1. U.K. Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.3. Germany
  - 7.3.3.1. Germany Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.4. France
  - 7.3.4.1. France Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.5. Italy
  - 7.3.5.1. Italy Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.6. Spain
  - 7.3.6.1. Spain Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.7. Denmark
  - 7.3.7.1. Denmark Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.8. Sweden
  - 7.3.8.1. Sweden Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.9. Norway
  - 7.3.9.1. Norway Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4. Asia Pacific
- 7.4.1. Asia Pacific Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.2. China
  - 7.4.2.1. China Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.3. Japan
  - 7.4.3.1. Japan Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.4. India
  - 7.4.4.1. India Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.5. South Korea
  - 7.4.5.1. South Korea Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.6. Australia
  - 7.4.6.1. Australia Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.7. Thailand
  - 7.4.7.1. Thailand Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.5. Latin America
- 7.5.1. Latin America Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. Brazil
  - 7.5.2.1. Brazil Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.6. Middle East and Africa
- 7.6.1. Middle East and Africa Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. Saudi Arabia
  - 7.6.2.1. Saudi Arabia Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.3. UAE
  - 7.6.3.1. UAE Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.4. South Africa
  - 7.6.4.1. South Africa Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.5. Kuwait
  - 7.6.5.1. Kuwait Neuroprosthetics Market Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 8. Competitive Landscape

8.1. Recent Developments & Impact Analysis by Key Market Participants
8.2. Company Categorization
8.3. Company Heat Map Analysis
8.4. Company Profiles
- 8.4.1. Medtronic Plc
  - 8.4.1.1. Participant's Overview
  - 8.4.1.2. Financial Performance
  - 8.4.1.3. Product Benchmarking
  - 8.4.1.4. Recent Developments/ Strategic Initiatives
- 8.4.2. LivaNova
  - 8.4.2.1. Participant's Overview
  - 8.4.2.2. Financial Performance
  - 8.4.2.3. Product Benchmarking
  - 8.4.2.4. Recent Developments/ Strategic Initiatives
- 8.4.3. Cochlear Ltd.
  - 8.4.3.1. Participant's Overview
  - 8.4.3.2. Financial Performance
  - 8.4.3.3. Product Benchmarking
  - 8.4.3.4. Recent Developments/ Strategic Initiatives
- 8.4.4. Abbott Laboratories
  - 8.4.4.1. Participant's Overview
  - 8.4.4.2. Financial Performance
  - 8.4.4.3. Product Benchmarking
  - 8.4.4.4. Recent Developments/ Strategic Initiatives
- 8.4.5. Boston Scientific
  - 8.4.5.1. Participant's Overview
  - 8.4.5.2. Financial Performance
  - 8.4.5.3. Product Benchmarking
  - 8.4.5.4. Recent Developments/ Strategic Initiatives
- 8.4.6. NeuroPace, Inc.
  - 8.4.6.1. Participant's Overview
  - 8.4.6.2. Financial Performance
  - 8.4.6.3. Product Benchmarking
  - 8.4.6.4. Recent Developments/ Strategic Initiatives
- 8.4.7. St. Jude Medical, Inc.
  - 8.4.7.1. Participant's Overview
  - 8.4.7.2. Financial Performance
  - 8.4.7.3. Product Benchmarking
  - 8.4.7.4. Recent Developments/ Strategic Initiatives
- 8.4.8. Retina Implant AG.
  - 8.4.8.1. Participant's Overview
  - 8.4.8.2. Financial Performance
  - 8.4.8.3. Product Benchmarking
  - 8.4.8.4. Recent Developments/ Strategic Initiatives
- 8.4.9. Nervo Corp.
  - 8.4.9.1. Participant's Overview
  - 8.4.9.2. Financial Performance
  - 8.4.9.3. Product Benchmarking
  - 8.4.9.4. Recent Developments/ Strategic Initiatives
- 8.4.10. Sonova
  - 8.4.10.1. Participant's Overview
  - 8.4.10.2. Financial Performance
  - 8.4.10.3. Product Benchmarking
  - 8.4.10.4. Recent Developments/ Strategic Initiatives

Neuroprosthetics Market Size, Share & Trends Analysis Report By Type (Motor Prosthetics, Cochlear Implants, Cognitive Prosthetics, Retinal Implants), By Technology, By Application, By Region, And Segment Forecasts, 2024 - 2030