[118 Pages Report] Neuroprostheses uses electrodes to interface with the central or peripheral nervous system to restore lost motor or sensory capabilities. These devices can receive neural signals from the external environment & brain, and convert the signals to restore functions such as loss of hearing and vision. They have applications in cognitive disorders, ophthalmic disorders, motor disorders, and auditory disorders.

The neuroprosthetics market is projected to reach USD 10.48 billion by 2022 from USD 5.84 billion in 2017, at a CAGR of 12.4%. The major factors driving the growth of this market are the increasing number of patients suffering from neurological disorders and nerve injury, growing incidence of hearing loss, increasing cases of amputations due to the rising number of accidents & injuries, and increasing prevalence of diabetes.

By technique, the spinal cord stimulation segment of the neuroprosthetics market is expected to hold the largest share during the forecast period.

By technique, the neuroprosthetics market is segmented into spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and transcranial magnetic stimulation. In 2017, the spinal cord stimulation segment is expected to account for the largest share of the market. The large share of this segment can be primarily attributed to the increasing number of people suffering from back surgery syndrome, ischemia, and chronic pain across the globe.

By application, the motor neuron disorders segment is expected to account for the largest share of the neuroprosthetics market during the forecast period.

Based on application, the neuroprosthetics market is segmented into motor neuron disorders, physiological disorders, and cognitive disorders. In 2017, the motor neuron disorders segment is expected to account for the largest share of the neuroprosthetics market. Increasing incidence of neurological disorders such as Parkinson�s disease and epilepsy is expected to drive the growth of this segment.

North America is expected to command the largest share of the market during the forecast period.

Based on region, the neuroprosthetics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2017, North America is expected to command the largest share of the neuroprosthetics market. The large share of this market can primarily be attributed to the high incidence of vision and hearing loss, rising prevalence of neurological disorders, and the strong presence of industry players in this region.

Market Dynamics

Driver: Increasing prevalence of diabetes

People suffering from diabetes may develop several foot problems, which cause damage to blood vessels and nerves. Diabetes can also damage the blood vessels in the retina, which can cause vision impairments or blindness. As a result, the increasing incidence of diabetes is expected to support the growth of the retinal/bionic eye implants market. The top five countries with the highest diabetic population in 2013 (age group of 20�79 years) were China, India, the US, Brazil, and the Russian Federation.

Dysvascular disorder- and diabetes-related amputations are expected to drive the demand for artificial limb replacements in the near future. The prevalence of diabetes has significant regional variation. Since its burden is higher in the Asia Pacific region, this factor is expected to have a more substantial effect on the market in countries in Southeast Asia and the Indian subcontinent.

Restraints: Availability of alternative treatment options

Novel therapies, such as stem cell therapy, are showcasing a significant potential for the effective treatment of various neurological disorders. Stem cell therapy is an emerging branch of medicine that has the potential to restore organ and tissue function in patients suffering from serious injuries or chronic diseases. These therapies offer advantages such as higher recovery rates and faster recovery periods for patients. Moreover, stem cells also have significant potential in the treatment of motor neuron disease, Parkinson�s disease, and Alzheimer�s disease. Furthermore, medicinal, physical, occupational, and speech therapies are available for the treatment of several neurological disorders. For instance, currently, the preference for drug therapies is higher among Parkinson�s patients due to the lower cost and convenience of the treatment. The availability of these alternative treatment options is one of the significant factors limiting the demand for and adoption of neuroprosthetic devices and implants among the target patient population.

Opportunities: Expanded target applications and new indications

Neuroprosthetic procedures involve minimally invasive techniques as opposed to alternate surgical procedures for treating tremors primarily associated with Parkinson�s, which are invasive treatments. For instance, in a pallidotomy, the surgeon destroys a tiny part of the globus pallidus by creating a scar to reduce brain activity. Doctors do not prefer this procedure and encourage the use of deep brain stimulation; instead, as it does not destroy brain tissue and has fewer risks as compared to pallidotomy. The use of DBS in newer applications/indications, such as Alzheimer�s, epilepsy, and depression, is currently in clinical trials. Similarly, the treatment of heart failure, sleep apnea, obesity, and tinnitus through VNS (Vagus Nerve Stimulation); fecal incontinence by SNS (Sacral Nerve Stimulation); and tinnitus, migraine, and stroke by TMS (Transcranial Magnetic Stimulation) are also under clinical trials. TMS is currently used to treat depression, SNS for urine incontinence, and VNS for epilepsy.

Scope of the Report

Report Metric Details Market size available for years 2015 -2022 Base year considered 2016 Forecast period 2017 -2022 Forecast units Billion (USD) Segments covered Type, Technique, Application, and Region Geographies covered North America, Europe, APAC, and RoW Companies covered Medtronic plc (Medtronic) (US), Cochlear Ltd. (Cochlear) (Australia), Abbott Laboratories (Abbott) (US), Boston Scientific (US), LivaNova, PLC (LivaNova) (UK), and Second Sight Medical Products, Inc. (Second Sight) (US).MED-EL (Austria), Retina Implant AG (Germany), Sonova (Switzerland), Neuropace (US), NDIE Medical, LLC (Canada) Nevro (US).

The research report categorizes the Neuroprosthetics market to forecast the revenues and analyze the trends in each of the following sub-segments:

Neuroprosthetics Market, By Type

Output Neural Prosthetics Motor Prosthetics Cognitive Prosthetics

Input Neural Prosthetics Cochlear Implant Bionic Eye/ Retinal Implant



Neuroprosthetics Market, By Technique

Spinal Cord Stimulation

Deep Brain Stimulation

Vagus Nerve Stimulation

Sacral Nerve Stimulation

Transcranial Magnetic Stimulation

Neuroprosthetics Market, By Application

Motor Neuron Disorders Parkinson�s Disease Epilepsy

Physiological Disorders Auditory Processing Disorders Cardiovascular Disorders Kidney Disorders Ophthalmic Disorders

Cognitive Disorders Alzheimer's Disease Paralysis



Neuroprosthetics Market, By Region

North America US Canada

Europe Germany UK France RoE

APAC

RoW

Key Market Players

Medtronic (US), Abbott (US), Cochlear (Australia), and Boston Scientific (US).

Recent Developments

In 2017, Medtronic (US) received FDA approval for the Intellis Platform Spinal Cord Stimulator (SCS).

In 2017, Abbott Laboratories (US) acquired St. Jude Medical (US) to strengthen its position in the neuroprosthetics market.

In 2017, Cochlear (Australia) signed an agreement with Otoconsult NV (Belgium) to develop artificial intelligence technology, which helps the company strengthen its cochlear implant portfolio.

In 2017 Retina Implant AG (Germany) underwent a merger with Okuvision (Germany) to strengthen its position in the neuroprosthetics market.

In 2016, Boston Scientific (US) acquired Cosman Medical (US) to add the spinal cord stimulator and deep brain stimulation systems to its product portfolio.

Critical questions the report answers:

What are the upcoming trends for the Neuroprosthetics market?

Which segment provides the most opportunity for growth?

Who are the leading vendors operating in this market?

What are the opportunities for new market entrants?

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