Neuroprosthetics Market 2016-2020: Global Industry Growth, Analysis and Report Forecast

Neuroprosthetics, also referred to as neural implants/brain implants, have gained significant momentum during past few years owing to the immense potential to substitute and/or ameliorate any damaged sensory, motor or cognitive functions. Such Neuroprosthetics are the key to restore and/or augment the ‘quality-of-life’ of the affected patient populace. The Neuroprosthetics, as therapeutic modalities, are emerging as a promising option in cases where all conventional treatments fail to deliver results/treatment to the disease condition. Improvement in the ‘quality-of-life’ of the affected patients, high availability of funds for R&D of Neuroprosthetics from the Government (public) and private sector investments in turn aid development of newer and improved variants of Neuroprosthetics - all result in increased uptake by the patients. Thus, the afore-mentioned are key drivers of the Neuroprosthetics market; however, reimbursement issues and high cost of Neuroprosthetics/devices are the restraints to the market growth. Owing to the high-impact growth drivers that outweigh the restraints, the global neuroprosthetics market is forecast to reach $14 billion by 2020, registering a CAGR of 15.8% from 2014 to 2020.

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The global neuroprosthetics market is segmented based on technology, types, applications and geography. The Neuroprosthetics’ Mechanism Of Action (MOA) varies as per underlying technology; hence, Neuroprosthetics can also be classified by technology into - Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS), Spinal Cord Stimulation (SCS) and Sacral Nerve Stimulation (SCS). Various types of Neuroprosthetics have been developed based on the application areas, i.e., the disease condition treated, for example, Motor Neuroprosthetics – treat motor neuron disorders such as Parkinson’s disease, Epilepsy, Auditory Neuroprosthetics/ Cochlear implants – treat hearing disorders; Visual Neuroprosthetics/ Retinal implants – treat visual impairment; and Cognitive Neuroprosthetics - treat Alzheimer’s disease, and severe depression. Visual Neuroprosthetics/ Retinal implants, is the fastest growing (CAGR 31.5%) Neuroprosthetics segment, owing to high-impact growth attribute of improving ‘quality-of-life’ of visually impaired patients. Geographically, the market is segmented into four regions, namely North America, Europe, Asia-Pacific and LAMEA.

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Developing bio-compatible, sensitive and safe products are the keys to success in the global Neuroprosthetics market. In tune with this, many companies across the world are involved in the R&D of newer and multitude of variants of Neuroprosthetics’ product lines and is seeking regulatory approval and commercialization. Few of such companies are profiled in the report - Medtronic Inc., MED-EL, Advanced Bionics AG, Boston Scientific Corporation, Biomet, Inc., St. Jude Medical, Retina Implant AG, NeuroPace, Inc. and NDI Medical LLC.

KEY BENEFITS

An in-depth analysis of the current Neuroprosthetics market scenario, future market estimates and trend-analysis – to reveal holistic picture that in turn facilitates decision making
Quantitative analysis of the current market and estimations through 2013-2020 - to assist corporate strategists to design business strategies to capitalize on the current and future (possible) opportunities in the market
Strategic analysis of key market players and business strategies within the global Neuroprosthetics market provided - would assist stakeholders to make informed business decisions
Pinpoint intelligence of key investment pockets are illustrated from the manufacturers point of view
Report emphasizes on the key strategies adopted by the giants operating in the neuroprosthetic devices market
Technological trends of neurological devices are critically analyzed and validated through primaries
Identification of key product segments based on current and potential growth prospects - to reveal most profitable segments that can be catered to by the market players

MARKET SEGMENTATION

The global neuroprosthetics market is segmented according to / by - technology, type, application, and geography.

MARKET BY TECHNOLOGY

Deep Brain Simulation (DBS)
Vagus Nerve Stimulation (VNS)
Spinal Cord Stimulation (SCS)
Sacral Nerve Stimulation (SNS)

MARKET BY TYPE

Motor Neuroprosthetics
Auditory Neuroprosthetics/ Cochlear implants
Visual Neuroprosthetics/ Retinal implants
Cognitive Neuroprosthetics

MARKET BY APPLICATION

Motor Neuron disorders
Parkinson's disease
Epilepsy
Physiological disorders
Auditory disorders
Ophthalmic disorders
Neurocardiac disorders
Over Active Bladder syndrome (kidney disorders)
Cognitive disorders
Alzheimer's disease
Severe depression

MARKET BY GEOGRAPHY

North America
Europe
Asia-Pacific
LAMEA

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