The global neuroprosthetics market reached $5.0 billion in 2022, should reach $5.4 billion by 2023 and $8.1 billion by 2028 with a compound annual growth rate (CAGR) of 8.3% during the forecast period of 2023-2028.
Cochlear implants segment of the global neuroprosthetics market reached $1.5 billion in 2022, should reach $1.6 billion by 2023 and $2.1 billion by 2028 with a CAGR of 5.2% during the forecast period of 2023-2028.
Bladder and bowel control implants segment of the global neuroprosthetics market reached $967.7 million in 2022, should reach $1.1 billion by 2023 and $1.9 billion by 2028 with a CAGR of 11.6% during the forecast period of 2023-2028.
Report Scope:
This research study aims to thoroughly assess and analyze the neuroprosthetics market, revenue forecasts and future trends, globally, and to provide strategic recommendations for the success of market participants. The scope of the study is global. Current and projected market forecasts during the forecast period (2023 to 2028) are discussed. Figures for 2023 are estimated, except where actual results have been reported. This report includes forecasts by product type, application and region from 2023 through 2028.
This report also includes an analysis of leading and emerging competitors in the worldwide neuroprosthetics market. Profiles of leading product manufacturers and emerging players with novel products in development are also analyzed. This report assesses companies poised to introduce products during the forecast period and discusses how these introductions will change the face of the competitive environment.
Report Includes:
32 data tables and 49 additional tables
A comprehensive overview and an up-to-date analysis of the global market for Neuroprosthetics
Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024 and 2026, and projections of compound annual growth rates (CAGRs) through 2028
Estimation of the actual market size and revenue forecast for global neuroprosthetics market in USD million values, and corresponding market share analysis based on product, type of stimulation technology, application, and region
In-depth information (facts and figures) concerning the major factors influencing the progress of this market (benefits, and industry-specific challenges) with respect to specific growth trends, upcoming technologies, future prospects, and contributions to the overall market
Discussion of ESG developments in Neuroprosthetics market, and an understanding of the importance of ESG, consumer attitudes towards sustainability, risks and opportunity assessment, and ESG followed practices by product manufacturers and industry participants
A relevant patent analysis with significant allotments of key patent grants on Neuroprosthetics
Review of the recent merger and acquisition (M&A) activities, venture fundings, and other impactful strategies contributing to the growth of this market
Identification of leading and emerging competitors in the worldwide neuroprosthetics market, and analysis of competitive landscape based on recent developments, segmental revenues, and operational integration
Company profiles of major players within the industry, including Abbott Laboratories, Boston Scientific Corp., Cochlear Ltd., Medtronic, and Sonova
Table of Contents
Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Methodology and Information Sources
Geographic Breakdown
Chapter 2 Summary and Highlights
Market Outlook
Market Summary
Chapter 3 Market Overview
Overview and Definitions
Neuroprosthetics
Need for Neuroprosthetics
Types of Neuroprosthetics
Cochlear Implants
Neuroprosthetics for Movement Restoration
Deep Brain Stimulators (DBS)
Bladder and Bowel Control Implants
Visual Prosthetics
Regulatory Landscape
U.S.
Europe
Chapter 4 Market Dynamics
Drivers
Favorable Demographic Trends
Technological Advancements
Support from Regulatory Agencies
Increasing Pressure to Cut Costs
Robust Funding Environment for Biomedical Research
Unpenetrated Market
Challenges
High Cost
Technological Challenges
Safety Concerns
Privacy and Accountability Concerns
Inconsistent Reimbursement Policies
Key Factors Impacting Market
Chapter 5 Market Breakdown by Product Type
Market Overview
Cochlear Implants
Deep Brain Stimulators
Approved Indications for Deep Brain Stimulation Therapy
Bladder and Bowel Control Implants
Sacral Nerve Stimulators (SNSs)
Tibial Nerve Stimulators (TNSs)
Neuroprosthetics for Movement Restoration
Neuroprosthetics for Movement Restoration
Functional Electrical Stimulation (FES)
Brain/Computer Interface (BCI)
Neural-controlled Prosthetic Limbs
Myoelectric Prostheses
Brain-controlled Prosthetic Limbs
Current State of BCI Technology in Prosthetics
Others
Visual Prosthetics/Retinal Prosthetics
Diaphragm Pacing System/Phrenic Nerve Stimulator
Market Revenue by Product Type
Cochlear Implants
Cochlear Implants Market Revenue by Region
Deep Brain Stimulators (DBS)
DBS Market Revenue by Region
Neuroprosthetics for Movement Restoration
Neuroprosthetics for Movement Restoration Market Revenue by Region
Bladder and Bowel Control Implants
Bladder and Bowel Control Implants: Market Revenue by Region
Others
Others Market Revenue by Region
Chapter 6 Market Breakdown by Application
Market Overview
Nervous System Function Replacement
Nervous System Modulation
Market Revenue by Application
Nervous System Function Replacement
Market Revenue by Region
Nervous System Modulation
Market Revenue by Region
Chapter 7 Market Breakdown by Region
Market Overview
Market Revenue by Region
North America
Reimbursement and Insurance Coverage
Innovation Hub and Robust Funding
Encouraging Regulatory Environment
Market Demand and Adoption
Market Revenue by Product Type
Market Revenue by Application
Market Revenue by Country
Europe
Market Revenue by Product Type
Market Revenue by Application
Market Revenue by Country
Asia-Pacific
Market Revenue by Product Type
Market Revenue by Application
Market Revenue by Country
Rest of the World (RoW)
Market Revenue by Product Type
Market Revenue by Application
Chapter 8 ESG Development
Introduction to ESG
Sustainability in the Neuroprosthetics Industry: An ESG Perspective