Market Research Logo

Global Neuroprosthetics Market 2015-2019 - Industry research report

About neuroprosthetics

Neuroprosthetics are implantable devices designed by combining neuroscience and biomedical engineering. These artificial implantable devices provide electrical stimulation that improves the functionality of a diseased nervous system. These devices either are implanted inside the body or can be worn externally. These are used either to replace a lost function of the body such as cognitive ability or to treat neurological conditions such as depression, chronic pain, epilepsy, or spinal cord injuries. Based on application, neuroprosthetics are segmented into cognitive devices and neuromodulation devices. Based on technology, neuroprosthetics are segmented into SCS system, DBS system, SNS system, VNS system, and others.

Technavio's analysts forecast the global neuroprosthetics market to grow at a CAGR of 7.08% over the period 2014-2019.

Covered in this report

The report covers the current scenario and the growth prospects of the global neuroprosthetics market for the period 2015-2019. To calculate the market size, we consider revenue generated from the sales of cochlear implants and neuromodulators.Based on application, the market is segmented into the following:

  • Cognitive devices (cochlear implants)
  • Neuromodulation devices
Based on technology, the market is segmented into the following:
  • SCS system
  • DBS system
  • SNS system
  • VNS system
  • Others (transcranial magnetic stimulation, peripheral nerve stimulation, gastric electrical stimulation, diaphragm pacing, lower esophageal sphincter stimulation, and cortical stimulation systems)
Technavio's report, Global Neuroprosthetics Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the landscape of the global neuroprosthetics market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

Key regions
  • Americas
  • APAC
  • EMEA
Key vendors
  • Boston Scientific
  • Cochlear
  • MED-EL
  • Medtronic
  • Sonova
  • St. Jude Medical
Other prominent vendors
  • Autonomic Technologies
  • BrainGate
  • electroCore
  • Mainstay Medical
  • NeuroPace
  • Nevro
  • Oticon Medical
  • Soterix Medical
Key market driver
  • Growing prevalence of neurological disorder
  • For a full, detailed list, view our report
Key market challenge
  • Battery lifetime
  • For a full, detailed list, view our report
Key market trend
  • Overseas expansion
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2019 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Neuroprosthetics Market 2015-2019

Technavio recognizes the following companies as the key players in the Global Neuroprosthetics Marke: Boston Scientific, Medtronic, St. Jude Medical, Cochlear Ltd. and Sonova Holding.

Other Prominent Vendors in the market are: Aleva Neuroprosthetics, Atrotech, Autonomic Technologies, BrainGate, electroCore, Mainstay Medical, Med-EL, NeuroPace, Nevro, Soterix Medical, and Oticon Medical.

Commenting on the report, an analyst from Technavio’s team said: “Most neuroprosthetics manufacturers are US-based companies. These companies acquire overseas device manufacturers to expand their businesses and for tax exemptions. For instance, Medtronic acquired Covidien in January 2015 to reduce the cost of taxes generated on the former's revenue. Pfizer is expected to acquire UK-based AstraZeneca in part to gain entry into the UK. This deal can help Pfizer reduce its taxes by $1 billion annually.”

According to the report, individuals with chronic pain, epilepsy, Parkinson's disease, and depression prefer first-line treatment options such as meditation, physiotherapy, and drugs. However, people with these diseases may develop resistance to drugs, resulting in the ineffectiveness of first-line treatment options. In these cases, people opt for neuroprosthetic devices as a second-line treatment option. These devices have many advantages over first-line treatment options.

Further, the report states that the high cost of neuroprosthetics coupled with reimbursement restrictions impedes the accessibility of these devices.

Companies Mentioned

Boston Scientific, Medtronic, St. Jude Medical, Cochlear Ltd.,Sonova Holding.,Aleva Neuroprosthetics, Atrotech, Autonomic Technologies, BrainGate, electroCore, Mainstay Medical, Med-EL, NeuroPace, Nevro, Soterix Medical, Oticon Medical.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research Methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Reimbursement for neuroprosthetics
    • Reimbursement in US
      • Table Reimbursement of neuroprosthetics in US
    • Reimbursement in Europe
      • Table Reimbursement of neuroprosthetics in major European countries
    • Reimbursement in APAC
  • Emerging technologies in neuroprosthetics
    • Brain-computer interface
      • Table Emerging neuroprosthetics and approval dates
  • Recent market approvals
    • Table Approved neuroprosthetics 2015
  • Market landscape
    • Market overview
    • Market size and forecast
      • Table Global neuroprosthetics market 2014-2019 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global neuroprosthetics market segmentation by application
      • Table Global neuroprosthetics market segmentation by application 2014
  • Global cognitive devices market
    • Market overview
    • Market size and forecast
      • Table Global cochlear implants market 2014-2019 ($ billions)
  • Global neuromodulation devices market
    • Market overview
    • Market size and forecast
      • Table Global neuromodulation devices market 2014-2019 ($ billions)
  • Market segmentation by technology
    • Global neuroprosthetics market segmentation by technology
      • Table Global neuroprosthetics market segmentation by technology 2014
      • Table Global SCS system market 2014-2019 ($ billions)
      • Table Global DBS system market 2014-2019 ($ millions)
      • Table Global SNS system market 2014-2019 ($ millions)
      • Table Global VNS system market 2014-2019 ($ millions)
  • Geographical segmentation
    • Table Global neuroprosthetics market segmentation by geography 2014
    • Neuroprosthetics market in Americas
      • Table Neuroprosthetics market in Americas 2014-2019 ($ millions)
    • Neuroprosthetics market in EMEA
      • Table Neuroprosthetics market in EMEA 2014-2019 ($ billions)
    • Neuroprosthetics market in APAC
      • Table Neuroprosthetics market in APAC 2014-2019 ($ billions)
  • Market drivers
    • Increased prevalence of neurological disorders
    • Availability of funds for R&D
    • Numerous product approvals
    • Second-line treatment
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Battery lifetime
    • Limited compatibility with MRI, X-ray, and ultrasound equipment
    • Limited reimbursement scenario
    • GPOs as intermediary
    • Stringent regulations
    • Cost containment
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Overseas expansions
    • Hybrid neuroprosthetic devices
    • Next-generation therapies for CNS disorders
    • Aesthetically appealing prosthetics
    • Use in US military
  • Vendor landscape
    • Competitive scenario
    • Market share analysis 2013
      • Table Top vendors in cognitive devices market 2014
      • Table Cochlear: Key takeaways
      • Table MED-EL: Key takeaways
      • Table Sonova Holding: Key takeaways
      • Table Global neuromodulation devices market share analysis 2014
      • Table Medtronic: Key takeaways
      • Table Boston Scientific: Key takeaways
      • Table St. Jude Medical: Key takeaways
    • Other prominent vendors
  • Key vendor analysis
    • Boston Scientific
    • Cochlear
      • Table Cochlear: Business segmentation by revenue 2014
      • Table Cochlear: Business segmentation by revenue 2013 and 2014 ($ millions)
    • MED-EL
      • Table MED-EL: Product offerings
    • Medtronic
    • Sonova
      • Table Sonova: Business segmentation
      • Table Sonova: Business segmentation by revenue 2015
      • Table Sonova: Business segmentation by revenue 2014 and 2015 ($ millions)
      • Table Sonova: Geographical segmentation by revenue 2014
    • St. Jude Medical
  • Appendix
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report