GLOBAL INDUSTRY INSIGHT:
Neuroprosthetics Market Size, Share, Development, Growth and Demand
Forecast to 2020
Global
Neuroprosthetics
Market
Size,
Share,
Development,
Growth and Demand Forecast to 2020
The global neuroprosthetics market is growing due to early commercialization of pipeline products and innovative
self charging neural implants in the industry. The self-charging neural implant reduces the need for costly and
risky surgery, in order to replace discharge battery and controlling machinery. The motor prosthetic, a type of
neuroprosthetics dominates the market. The visual neuroprosthetics segment is expected to grow with the fastest
rate. The Parkinson’s disease segment is expected to grow with the fastest rate in the coming years.
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In addition, the massive unexplored market in the neuroprosthetics industry of the developing economies is
creating abundant growth opportunities for the global neuroproshetics market. The advanced research and
development facilities and new product developments by the companies are also creating ample opportunities, for
the growth of the global neuroprosthetics market. The next generation therapies for central nervous system
disorders, hybrid neuroprosthetic devices, and aesthetically appealing prosthetics are some of the trends
witnessed in the global neuroprosthetic market. Neuroprosthetics are therapeutic devices that are worn outside
the body, or implanted inside the body. These devices are used to replace the lost function of body.
Some of the factors driving the growth of the global neuroprosthetics market are growing geriatric population,
increasing prevalence of neurological disorders such as Parkinson’s disease, stroke and brain injury, increasing
healthcare expenditure, increasing government and government association’s support and initiatives, and
improving healthcare infrastructure. In addition, the rapid progression of devices, increasing healthcare
awareness, high availability of funds for R&D of neuroprosthetics and new device approvals are also contributing
to growth of the global neuroprosthetic market. However, the high cost of therapy and products, limited
reimbursement, and side effects of neuroprosthetics are some of the factors, restraining the growth of the global
neuroprosthetics market. Moreover, the stringent regulatory requirement and limited compatibility with MRI,
ultrasound and x-ray devices are also inhibiting the growth of the global neuroprosthetic market.
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Geographically, North America is expected to dominate the global neuroprosthetics market in the coming years,
due to increasing prevalence of neurological disorders and growing geriatric population. Asia-Pacific is expected
to be the fastest growing regions in the global neuroprosthetics market, due to the presence of huge pool of
patients and increasing geriatric population in the regions. In addition, the Asia-Pacific neuroprosthetics market is
growing due to increasing healthcare expenditure, increasing awareness of healthcare, and refining healthcare
infrastructure in the emerging countries, such as India and China.
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Global
Neuroprosthetics
Market
Size,
Share,
Development,
Growth and Demand Forecast to 2020
Some of the companies operating in the global neuroprosthetics market are Boston Scientific Corporation,
Cyberonics Inc., Cochlear Limited, NDI Medical LLC, Nervo Corporation, NeuroPace Inc., Medtronic Inc., Aleva
Neuroprosthetic, Oticon Medical, St Jude Medical, Retina Implant AG, and Sonova Group.
GLOBAL NEUROPROSTHETICS MARKET SEGMENTATION
Breakdown by Type
•
Auditory Prosthetics/ Cochlear Implant
•
Visual Prosthetics/ Retinal Implant
•
Motor Prosthetics
•
Cognitive Prosthetics
Breakdown by Technology
•
Spinal Cord Stimulation
•
Vagus Nerve Stimulation
•
Deep Brain Stimulation
•
Sacral Nerve Stimulation
Breakdown by Application
•
•
•
Motor Neuron Disorders
o
Parkinson’s disease
o
Epilepsy
o
Others
Cognitive Disorders
o
Alzheimer’s disease
o
Severe depression
Physiological Disorders
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Global
Neuroprosthetics
Market
Size,
Share,
Development,
Growth and Demand Forecast to 2020
o
Cardiac disorders
o
Ophthalmic disorder
o
Kidney disorder
o
Auditory disorder
o
Others
Breakdown by Geography
•
North America
•
Europe
•
Asia-Pacific
•
Rest of the World
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Global
Neuroprosthetics
Market
Size,
Share,
Development,
Growth and Demand Forecast to 2020
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