Neuroprosthetics Market : Business Growth, Regional Trends, Sales Revenue, Size, Development Status, Key Players Analysis And Comprehensive Research Study Till 2026

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Conversely, such devices are costly and therefore can be afforded only by patients with high disposable incomes. Implantation of these devices also require significant amount of skill.

The latest market report published by Credence Research, Inc. “Neuroprosthetics Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global neuroprosthetics market was valued at US$ 5.55 Bn in 2017 and expected to reach US$ 15.81 Bn by 2026, expanding at a CAGR of 12.3% from 2018 to 2026.

Market Insights

Neuroprosthetics involve merger of engineering, biotechnology and neurology applications for treatment and management of several neurological conditions, facilitating restoration of lost movements. Technological advancements have led to development of personalized neuroprosthetics and rehabilitation for neural impairments. Spinal, cochlear and retinal implants are the most prominent examples of technological progress in this field. Additionally, increasing prevalence of neurological disorders occurring both from age or trauma is another key factor supporting the growth of this market.

Browse the full report Neuroprosthetics Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at  https://www.credenceresearch.com/report/neuroprosthetics-market

Conversely, such devices are costly and therefore can be afforded only by patients with high disposable incomes. Implantation of these devices also require significant amount of skill. This has led to greater adoption of neuroprosthetics concentrated in developed markets. Whereas middle- and low-income countries still struggle with the adoption of neuroprosthetics. Awareness also plays a critical role in determining the demand for these therapeutic solutions. Therefore, in emerging markets, improvement in knowledge of neuroprosthetics and government initiatives for improving healthcare conditions are imperative to open market penetration opportunities.

Considering the competitive landscape, several companies have introduced their products encompassing different applications such as traumatic neural conditions, motor neuron disorders and physiological disorders. Though motor neuron disorders accumulate larger revenue share in the global market, the highest number of product approvals are observed for application for physiological disorders. Major physiological conditions for which neuroprosthetics are commercially available include cardiovascular diseases, chronic pain, ophthalmic and auditory disorders.

The growth of neuroprosthetics market in developed regions is mainly attributed to increasing burden of chronic neurological diseases. Therefore as the overall life expectancy and the prevalence of neurological conditions continue to increase, the neuroprosthetics market will be set to attain stability. In the developed regions, U.S., Canada, France, Germany, U.K., the Netherlands and Italy are estimated to be the largest markets, with the U.S. taking the lead.

Globally, disorders and injuries to the brain and spinal cord possess a considerable financial and social burden. In Europe alone, brain disorders are responsible for 35% of the overall disease burden. Persistently growing aging population, and the corresponding growth in financial costs for conventional treatment and management of such conditions has been a key factor for the advent of neuroprosthetics. Spinal cord stimulation is the most widely employed modality in neuroprosthetics. Analgesic property of spinal cord stimulation has established it as the most sought treatment for chronic pain. The modality also finds effective application in the treatment of limb movements. On the other hand, sacral nerve stimulation is estimated to be the fastest progressing segment due to its established efficacy in treating chronic pelvic pain and neurogenic bladder.

Key Market Movements:

  • Perpetually growing prevalence of neurodegenerative diseases such as Alzheimer’s and Parkinson’s
  • Significantly high cost incurred in conventional treatment of traumatic brain injury and spinal cord injuries
  • Increasing disposable incomes and improving awareness in emerging economies of Asia Pacific and Latin America
  • Scarce availability of viable and efficacious treatments for Parkinson’s disease through the conventional mode
  • Growing preference for neuromodulation techniques such as deep brain stimulation and spinal cord stimulation for treating cognitive disorders and debilitating injuries
  • Vigorous collaborative and marketing strategies by international market players
  • Intensive research and development advancing in the field of deep brain stimulation and sacral nerve stimulation

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ToC:

Chapter 1. Preface
1.1. Report Description
1.1.1. Study Purpose
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Market Segmentation
1.3. Research Scope
1.4. Research Methodology
1.4.1. Phase I – Secondary Research
1.4.2. Phase II – Primary Research
1.4.3. Phase III – Expert Panel Review
1.4.4. Assumptions
1.5. Market Segmentation

Chapter 2. Executive Summary
2.1. Global Neuroprosthetics Market Portraiture
2.2. Global Neuroprosthetics Market, by Type, 2017 (US$ Bn)
2.3. Global Neuroprosthetics Market, by Modality, 2017 (US$ Bn)
2.4. Global Neuroprosthetics Market, by Application, 2017 (US$ Bn)
2.5. Global Neuroprosthetics Market, by Geography, 2017 (US$ Bn)

Chapter 3. Global Neuroprosthetics Market: Dynamics and Future Outlook
3.1. Overview
3.2. Drivers
3.3. Challenges
3.4. Opportunities
3.5. Attractive Investment Proposition, by Geography, 2017
3.6. Competitive Analysis: Global Neuroprosthetics Market, by Key Players, 2017

Chapter 4. Global Neuroprosthetics Market, by Type, 2016-2026 (US$ Bn)
4.1. Overview
4.2. Motor Prosthetics
4.3. Auditory Prosthetics
4.4. Cognitive Prosthetics
4.5. Visual Prosthetics

Chapter 5. Global Neuroprosthetics Market, by Modality, 2016-2026 (US$ Bn)
5.1. Overview
5.2. Deep Brain Stimulation (DBS)
5.3. Vagus Nerve Stimulation (VNS) 
5.4. Spinal Cord Stimulation (SCS) 
5.5. Sacral Nerve Stimulation (SNS)
5.6. Others

Chapter 6. Global Neuroprosthetics Market, by Application, 2016-2026 (US$ Bn)
6.1. Overview
6.2. Motor Neuron Disorders
6.2.1. Parkinson’s Disease
6.2.2. Epilepsy
6.3. Physiological Disorders 
6.3.1. Auditory Disorders 
6.3.2. Cardiac Disorders
6.3.3. Chronic Pain
6.3.4. Others (Ophthalmic and Kidney Disorders)
6.4. Cognitive Disorders
6.4.1. Alzheimer’s Disease
6.4.2. Severe Depression

…………toc continued

Browse the full report Neuroprosthetics Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at  https://www.credenceresearch.com/report/neuroprosthetics-market

 

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“Neuroprosthetics (also called neural prosthetics) is a discipline related to neuroscience and biomedical engineering concerned with developing neural prostheses. They are sometimes contrasted with a brain–computer interface, which connects the brain to a computer rather than a device meant to replace missing biological functionality. Neural prostheses are a series of devices that can substitute a motor, sensory or cognitive modality that might have been damaged as a result of an injury or a disease. Cochlear implants provide an example of such devices. These devices substitute the functions performed by the ear drum and stapes while simulating the frequency analysis performed in the cochlea. A microphone on an external unit gathers the sound and processes it; the processed signal is then transferred to an implanted unit that stimulates the auditory nerve through a microelectrode array. Through the replacement or augmentation of damaged senses, these devices intend to improve the quality of life for those with disabilities. These implantable devices are also commonly used in animal experimentation as a tool to aid neuroscientists in developing a greater understanding of the brain and its functioning. By wirelessly monitoring the brain’s electrical signals sent out by electrodes implanted in the subject’s brain, the subject can be studied without the device affecting the results. Accurately probing and recording the electrical signals in the brain would help better understand the relationship among a local population of neurons that are responsible for a specific function. Neural implants are designed to be as small as possible in order to be minimally invasive, particularly in areas surrounding the brain, eyes or cochlea. These implants typically communicate with their prosthetic counterparts wirelessly. Additionally, power is currently received through wireless power transmission through the skin. The tissue surrounding the implant is usually highly sensitive to temperature rise, meaning that power consumption must be minimal in order to prevent tissue damage–wikipedia

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