Global Neurotechnology Market 2018-2022: Largest Segment is Currently Neuromodulation, Followed by Neuroprosthetics and Neurosensing

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Jan 09, 2019, 10:15 ET

DUBLIN, Jan. 9, 2019 /PRNewswire/ --

The "The Market for Neurotechnology: 2018-2022" report has been added to ResearchAndMarkets.com's offering.

The worldwide market for neurotechnology products will be $8.4 billion in 2018 and will reach $13.3 billion in 2022. The neurotechnology market is divided into four segments: neuroprosthetics, neuromodulation, neurorehabilitation, and neurosensing.

The Market for Neurotechnology: 2018-2022 covers in detail all the key public companies and the most significant emerging and more established non-public firms in the industry. The report also features in-depth profiles of major research institutions in the U.S. and abroad involved with neurotechnology developments, and traces the commercial activity that is emerging from each.

This market research report is the most comprehensive and up-to-date publication available covering the neurotechnology industry. The report takes an in-depth look at the technology, markets, competitors, and growth rates in four key segments of the neurotechnology industry in the years 2018 through 2022. It forecasts U.S. and worldwide revenue, compound annual growth rates, and competitor market shares for several key product categories making up the neuroprosthetics, neuromodulation, neurorehabilitation, and neurosensing segments of the industry.

The report not only looks at future financial projections, it covers likely technology trends and product developments that will impact the neurotechnology industry in the years ahead, such as:

Nanowire brain implants guided into position through the cerebral vasculature.
Optical stimulation devices that solve many of the problems associated with electrical charge buildup.
Microfluidic interfaces that combine electrical stimulation and drug delivery.

The Market for Neurotechnology: 2018-2022 examines each of the neurological diseases and disorders that represent a significant market potential for neurotechnology products, including established markets like Parkinson's disease, chronic pain, and urinary incontinence, as well as emerging markets such as bioelectronic medicine, obesity, migraine, sleep disorders, and psychiatric disorders. And it is the only report on the neurotechnology industry to forecast new product categories in neurorehabilitation and neurosensing such as brain analysis systems and neurorobotisc systems.

Market Projections

The largest segment of the market for neurotechnology is currently neuromodulation, followed by neuroprosthetics and neurosensing.

Within the neuroprosthetics product category, cochlear implants represent the largest and most mature product category. Two factors that are helping to drive the market for cochlear implants are the rapid growth of implants in children, and the expansion of the market beyond profoundly deaf individuals to severely hearing impaired individuals. Many of the candidates for cochlear implants in this latter category are seniors with hearing loss that can no longer be improved with hearing aids.

Background

Neurotechnology has grown and matured as an industry as a result of advances in several fields of science and technology, including neuroscience, electrical stimulation, biomaterials, and microelectronics. MEMS technology will have a positive impact on the development of neurotechnology devices.

Neurotechnology is currently in use or under study for the treatment of a number of different medical disorders and diseases. These include spinal cord injury, deafness, blindness, stroke, urinary incontinence, epilepsy, chronic pain, neurological disorders, and psychiatric disorders.

Neurotechnology products and services will experience considerable growth in the worldwide healthcare market in large part because of the continued growth and identification of neurological disorders and conditions. Many of these disorders and conditions will become more pronounced as demographic shifts in the aging of the population, as well as increased life expectancy and demand for a higher quality of life by senior citizens, exert their effects.

As society has become more aware of the prevalence of specific neurological and neuropsychiatric disorders such as chronic pain, depression, dyslexia, and autism, business and government leaders have become more aware of the costs of these conditions to society in terms of lost productivity, treatment, and diminished quality of life. These factors will all contribute to the growth of neurotechnological treatments and therapies for neurological disorders.

Also, successful neuroprosthetics have been shown to be cost-effective because of the reduction in ongoing costs for healthcare and assistive services. Some studies have shown that these devices pay for themselves with five to seven years.

The neurotechnology industry depends heavily on the readiness of private and public health insurance organizations to reimburse patients for the cost of the devices and the procedures associated with implanting, maintaining, and training the device.

The growth of neurotechnology devices also depends heavily on the degree to which clinicians and their patients are aware of their capabilities. Because it is new, neurotechnology has not yet achieved the degree of penetration in awareness of both physicians and patients who would be strong candidates.

Opportunities

One of the greatest opportunities for growth in the market for neuromodulation device is treatment of obesity. Other new and emerging applications for neurotechnology devices are migrain pain, depression, and cardiovascular disorders such as hypertension and angina pain.

The author believes that the increasing understanding of central neural mechanisms in disorders such as depression, Parkinson's disease, and stroke will lead to dramatic growth for new neurotechnology products.

Competitors

The market for neurotechnology includes both established competitors and start-up firms. Among the main competitors in the neurotechnology industry are:

Neuroprosthetics: Cochlear Ltd., Advanced Bionics, Bioness, Second Sight, Otto Bock, and Med-El
Neuromodulation: Medtronic, Boston Scientific, Abbott, Nuvectra, LivaNova, and Nevro
Neurosensing: Natus Medical, Nihon-Kohden, and Philips.

Future Trends

Carbon nanotubes and other advances in nanotechnology will confer new capabilities on neuromodulation products. New polymeric biomaterials are promising to enhance the functionality of existing neural interfaces, which are largely based on metals.

Neural/silicon hybrid chips have the potential for dramatically expanding the rate and the quality of information exchange between a computer and human. These devices initially will have application as improved forms of electrodes built with intelligent microelectronic hardware rather than passive devices. Ultimately they offer the potential for greatly enhanced neural prostheses and brain-computer interfaces.

Key Topics Covered:

I. Executive Summary

Market Projections
Competitors and Market Share
Organization
Research Methodology

II. Diseases, Disorders, and Conditions

Blindness
Cerebral Palsy
Cognitive Disorders
Epilepsy
Hearing Conditions
Incontinence
Migraine
Movement Disorders
Chronic Pain
Psychiatric Disorders
Sleep Apnea
Spinal Cord Injury
Stroke
Traumatic Brain Injury
Non-Neurological Diseases and Disorders

III. Neurotechnology Markets

Market Segments
Market Size
Core Technologies
Industry Origins
Competitive Landscape
Government Approval
Reimbursement
Industry Outlook

IV. Neuroprosthetics Products

Auditory Prostheses
Visual Prostheses
Upper Extremity Neuroprosthetics
Lower Extremity Neuroprosthetics
Robotic Exoskeletons
Other Neuroprosthetics Products

V. Neuromodulation Products

Implanted Spinal Cord Stimulators
Implanted Brain Stimulators
Vagus Nerve Stimulators
Incontinence Stimulators
Peripheral Nerve Stimulators
Cranial Nerve Stimulators
Surface Pain Stimulators
Transcranial Magnetic Stimulators
Transcranial Electrical Stimulators
Bioelectronic Stimulators

VI. Neurorehabilitation Products

Muscle Stimulators
Neural Reeducation Systems
Therapeutic Neurorobotic Systems
FES Exercise Systems
Other Neurorehabilitation Products

VII. Neurosensing Products

Electrophysiological Sensing Systems
Magnetic Sensing Systems
Brain Analysis Systems
Brain Computer Interfaces
Peripheral Neural Sensors

VIII. Company Profiles

Abbott
Advanced Bionics Corp
Aleva Neurotherapeutics
AlterG
Autonomic Technologies
Axonics Modulation, Inc
Bioness Inc
Blackrock Microsystems
Boston Scientific Corp
BrainScope
Circuit Therapeutics Inc
Cleveland Medical Devices Inc
Cochlear Ltd
Cogentix Medical
CVRx, Inc
ElectroCore Medical, LLC
EndoStim, Inc
Great Lakes NeuroTechnologies Inc
Halyard Health
Hanger Inc
Hocoma AG
ImThera Medical (Part of LivaNova)
Inspire Medical Systems
LivaNova plc
Mainstay Medical
Med-El
Medtronic plc
MicroTransponder Inc
Natus Medical Inc
NDI Medical Inc
NeuroMetrix Inc
Neuronetics
NeuroPace Inc
Neuros Medical
NeuroSigma Inc
Nevro Corp
Nexeon Medsystems, Inc
Nihon Kohden Corp
Nuvectra Corp
Ossur hf
Otto Bock Health Care GmbH
ReShape Lifesciences Inc
Restorative Therapies Inc
Royal Philips
Saluda Medical
Second Sight Medical Products
SetPoint Medical
SPR Therapeutics
Stimwave LLC
Zynex Medical

IX. Research Institution Profiles

Aalborg University
University of Alberta
Alfred Mann Foundation
Arizona State University
Battelle
Baylor College of Medicine
Brown University
University of California Davis
University of California, Irvine
University of California, Los Angeles
University of California, Santa Barbara
University of California, San Francisco
Caltech
Case Western Reserve University
University of Chicago
Cleveland Clinic
Clinatec
Cornell University
Drexel University
Duke University
Feinstein Institute for Medical Research
Florida International University
University of Freiburg
Georgia Tech
University of Glasgow
Illinois Institute of Technology
Johns Hopkins University
University of Ljubljana
Max Planck Florida Institute for Neuroscience
McMaster University
University of Miami
University of Michigan
Mount Sinai Health System
New York University
Northwestern University
University of Pennsylvania
University of Pittsburgh
Queensland Brain Institute
Rehabilitation Institute of Chicago
University of Southern California
University of Texas at Arlington
University of Texas at Dallas
Univeristy of Texas Southwestern
University of Toronto
University of Utah
UMC Utrecht
West Virginia University
University of Zurich

X. Funding Sources

U.S. Government
State Governments
Foreign Governments
Private Organizations
Venture Capital Funding
VC Investors in Neurotechnology
Novel Funding Sources

XI. Future Directions

Nanotech Devices
Optical Neurotechnology
Electrode Design
Neural/Silicon Hybrid Chips
Sensing Neuroprosthetics
Neurosurgical Tools
Appendix A: Company Listings

For more information about this report visit https://www.researchandmarkets.com/research/658b56/global?w=5

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