Global Neuroprosthetics Market Size, Share, Forecast Report, 2020-2027

he global neuroprosthetics market was estimated USD 5.28 billion in 2016 and expected to reach USD 10.48 billion by 2023 at a CAGR of 12.4% from 2018 to 2023.

Neuroprosthetics are medical devices that are developed in such a way that provide signal to the central nervous system and receive indications from the external environment. These devices are used in neural diseases such as Epilepsy, Parkinson’s disease, Visual Prosthetics and many more.

The factors responsible for the positive growth of this market are increasing prevalence of neural diseases, over active bladder syndrome, and chronic disorder which include epilepsy.

However, factors such as, low acceptance of neuroprosthetics treatment devices due to its high cost, and low awareness about the devices may restrict the market growth during the forecast period.

Segmentation:

The global neuroprosthetics market is segmented on the basis of type, technology, applications, and end users. On the basis of type the market is segmented into output neural prosthetics and input neural prosthetics. The output is segmented into cognitive prosthetics, and motor prosthetics. The input is segmented into cochlear implant, and visual prosthetic.

On the basis of techniques, the market is segmented into vagus nerve stimulation, deep brain stimulation, sacral nerve stimulation, and spinal cord stimulation.

On the basis of application, the market is segmented into motor neuron disorders, physiological disorders, and cognitive disorders. The motor neuron disorders are segmented into Parkinson’s disease, and Epilepsy disorder. The physiological disorders are segmented into auditory processing disorders, ophthalmic disorders, cardiovascular disorders, and urology disorders. Furthermore, the cognitive disorders include disorders such as Alzheimer’s disease, paralysis, and severe depression. On the basis of end-users, the market is segmented into hospitals and clinics, diagnostic centers, research centers and others.
Key players:

Some of the key players in the global neuroprosthetics market are Medtronic (US), Abbott (US), Cochlear (Australia), Boston Scientific (US), Livanova (UK), Second Sight (US), Med-El (UK), Retina Implant (US), Sonova (UK), Neuropace (US), Nevro (California), and others.

Market Segmentation and Key Market Players

Global Neuroprosthetics Market, by Type

• Output Neural Prosthetics
  • Cognitive Prosthetics
  • Motor Prosthetics
• Input Neural Prosthetics
  • Cochlear Implant
  • Visual Prosthetics

Global Neuroprosthetics Market, by Techniques

• Deep Brain stimulation,
• Vagus Nerve stimulation
• Sacral Nerve Stimulation
• Spinal Cord stimulation

Global Neuroprosthetics Market, by Application

• Motor Neuron Disorders
  • Parkinson’s Disease
  • Epilepsy  
• Physiological Disorders
  • Auditory Processing Disorders
  • Ophthalmic Disorders
  • Cardiovascular Disorders,
  • Urology Disorders
• Cognitive Disorders
  • Alzheimer’s Disease
  • Paralysis
  • Severe Depression

Global Neuroprosthetics Market, by End-Users

• Hospitals and clinics
• Diagnostic centers
• Research centers
• Others