Neuroprosthetics market

The neuroprosthetics market is expected to reach $14 billion by 2020, registering a CAGR of 15.8% from 2014 to 2020.

PORTLAND, OREGON, USA, July 11, 2022 / โ€” Neuroprosthetics market. Motor Prosthetics holds the largest share in the neuroprosthetic devices market segment, while Sacral Cord Stimulation (SCS) would maintain the market leading position till 2020, in the technology segment. High growth segments such as visual neuroprosthetics/retinal implants and applications such as Parkinsonโ€™s disease, overactive bladder syndrome and epilepsy are expected to contribute substantially to the growth of the global neuroprosthetics market. Motor Prosthetics holds the largest share in the neuroprosthetic devices market segment, while Sacral Cord Stimulation (SCS) would maintain the market leading position till 2020, in the technology segment.

๐‹๐ข๐ฌ๐ญ ๐จ๐Ÿ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

Medtronic plc,
Cochlear Ltd., Abbott Laboratories,
Boston Scientific,
Second Sight Medical Products,
Retina Implant SA,

๐Š๐„๐˜ ๐…๐ˆ๐๐ƒ๐ˆ๐๐†๐’ ๐Ž๐… ๐“๐‡๐„ ๐’๐“๐”๐ƒ๐˜

โ€ข Global neuroprosthetics market is gaining momentum with visual prosthetics/retinal implants and motor neuroprosthetics (for the treatment of Parkinsonโ€™s disease) being the major growth areas during the forecast period (2014 โ€“ 2020)
โ€ข In the neuroprosthetic devices market, vision prostheses/retinal implants are the fastest growing segment
โ€ข Within neuroprosthetics devices, motor neuroprosthetics segment would get the largest market share, driven by numerous applications such as Parkinsonโ€™s disease, neurocardiac disorders, overactive bladder syndrome and epilepsy
โ€ข North America would be the lucrative market, both in terms of market size and growth (among all regional markets)

A multitude of cognitive and physiological disorders have a debilitating impact on the โ€œquality of lifeโ€ of the affected patient population. A majority (~80%) of these patients are not amenable to any form of treatment because both first-line (drugs) and second-line (invasive surgeries) treatments fail. Neuroprosthetic devices or neural implants or brain implants offer an effective solution to the aforementioned type of patients. Neuroprostheses deploy technologies such as Deep Brain Simulation (DBS), Vagus Nerve Stimulation (VNS), Spinal Cord Stimulation (SCS) and Sacral Nerve Stimulation (SNS) depending on the clinical condition to improve the disease state.

Depending on the condition being treated, types of neuroprosthetics products include motor prostheses, hearing aids/cochlear implants, vision prostheses/retinal implants, and cognitive prostheses. Due to various factors such as high base of affected patient population, patient population amenable to neuroprosthetics, and scope of QALY improvement, the motor neuroprosthetics market for the treatment of Parkinsonโ€™s disease holds the greater market share; Motor neuroprosthetics for the treatment of overactive bladder syndrome and motor neuroprosthetics for the treatment of epilepsy are the second and third largest segments, respectively. Despite these advantages which are high impact growth drivers for the market, the high cost of the devices is limiting the rate of adoption by the patients, thus restraining the growth of the market.

Neuroprosthetic manufacturing companies focus on developing variants of neuroprosthetic devices such as self-charging neural implants that can be recharged with bioenergy; thus, eliminating the need for costly and high-risk surgeries to replace discharged batteries of implanted neuroprostheses.

๐–๐ž ๐š๐ฅ๐ฌ๐จ ๐Ž๐Ÿ๐Ÿ๐ž๐ซ๐ฌ ๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐‚๐จ๐ฎ๐ง๐ญ๐ซ๐ฒ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ-

North America Neuroprosthetics Market
Japanese neuroprosthetics market
South Korean neuroprosthetics market
Singapore Neuroprosthetics Market
Australian neuroprosthetics market
European neuroprosthetics market

๐Ž๐ญ๐ก๐ž๐ซ ๐“๐ซ๐ž๐ง๐๐ข๐ง๐  ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ

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David Correa
Allied Analytics LLP
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