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Global Neuroprosthetics Market (Product Types, Technology, Application, and Geography)

Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 - 2020
Category : Medical Devices  | Published Date : Nov-2014
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Neuroprosthetics, also referred to as neural implants/brain implants, have gained significant momentum during past few years owing to the immense potential to substitute and/or ameliorate any damaged sensory, motor or cognitive functions. Such Neuroprosthetics are the key to restore and/or augment the ‘quality-of-life’ of the affected patient populace. The Neuroprosthetics, as therapeutic modalities, are emerging as a promising option in cases where all conventional treatments fail to deliver results/treatment to the disease condition. Improvement in the ‘quality-of-life’ of the affected patients, high availability of funds for R&D of Neuroprosthetics from the Government (public) and private sector investments in turn aid development of newer and improved variants of Neuroprosthetics - all result in increased uptake by the patients. Thus, the afore-mentioned are key drivers of the Neuroprosthetics market; however, reimbursement issues and high cost of Neuroprosthetics/devices are the restraints to the market growth. Owing to the high-impact growth drivers that outweigh the restraints, the global neuroprosthetics market is forecast to reach $14 billion by 2020, registering a CAGR of 15.8% from 2014 to 2020. 

The global neuroprosthetics market is segmented based on technology, types, applications and geography. The Neuroprosthetics’ Mechanism Of Action (MOA) varies as per underlying technology; hence, Neuroprosthetics can also be classified by technology into - Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS), Spinal Cord Stimulation (SCS) and Sacral Nerve Stimulation (SCS). Various types of Neuroprosthetics have been developed based on the application areas, i.e., the disease condition treated, for example, Motor Neuroprosthetics – treat motor neuron disorders such as Parkinson’s disease, Epilepsy, Auditory Neuroprosthetics/ Cochlear implants – treat hearing disorders; Visual Neuroprosthetics/ Retinal implants – treat visual impairment; and Cognitive Neuroprosthetics - treat Alzheimer’s disease, and severe depression. Visual Neuroprosthetics/ Retinal implants, is the fastest growing (CAGR 31.5%) Neuroprosthetics segment, owing to high-impact growth attribute of improving ‘quality-of-life’ of visually impaired patients. Geographically, the market is segmented into four regions, namely North America, Europe, Asia-Pacific and LAMEA.

Developing bio-compatible, sensitive and safe products are the keys to success in the global Neuroprosthetics market. In tune with this, many companies across the world are involved in the R&D of newer and multitude of variants of Neuroprosthetics’ product lines and is seeking regulatory approval and commercialization. Few of such companies are profiled in the report - Medtronic Inc., MED-EL, Advanced Bionics AG, Boston Scientific Corporation, Biomet, Inc., St. Jude Medical, Retina Implant AG, NeuroPace, Inc. and NDI Medical LLC. 

KEY BENEFITS

  • An in-depth analysis of the current Neuroprosthetics market scenario, future market estimates and trend-analysis – to reveal holistic picture that in turn facilitates decision making
  • Quantitative analysis of the current market and estimations through 2013-2020 - to assist corporate strategists to design business strategies to capitalize on the current and future (possible) opportunities in the market
  • Strategic analysis of key market players and business strategies within the global Neuroprosthetics market provided - would assist stakeholders to make informed business decisions
  • Pinpoint intelligence of key investment pockets are illustrated from the manufacturers point of view
  • Report emphasizes on the key strategies adopted by the giants operating in the neuroprosthetic devices market
  • Technological trends of neurological devices are critically analyzed and validated through primaries 
  • Identification of key product segments based on current and potential growth prospects - to reveal most profitable segments that can be catered to by the market players

MARKET SEGMENTATION
The global neuroprosthetics market is segmented according to / by - technology, type, application, and geography. 

MARKET BY TECHNOLOGY

  • Deep Brain Simulation (DBS)
  • Vagus Nerve Stimulation (VNS)
  • Spinal Cord Stimulation (SCS)
  • Sacral Nerve Stimulation (SNS)

MARKET BY TYPE

  • Motor Neuroprosthetics    
  • Auditory Neuroprosthetics/ Cochlear implants    
  • Visual Neuroprosthetics/ Retinal implants    
  • Cognitive Neuroprosthetics    

MARKET BY APPLICATION

  • Motor Neuron disorders 
    • Parkinson's disease 
    • Epilepsy
  • Physiological disorders    
    • Auditory disorders    
    • Ophthalmic disorders    
    • Neurocardiac disorders    
    • Over Active Bladder syndrome (kidney disorders)
  • Cognitive disorders
    • Alzheimer's disease    
    • Severe depression    

MARKET BY GEOGRAPHY

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

TABLE  OF CONTENTS
CHAPTER 1 INTRODUCTION

1.1          Report Description

1.2          Key Benefits

1.3          Key Market Segments

1.4          Key Audiences

1.5          Research Methodology

1.5.1      Primary Research

1.5.2      Secondary Research

1.5.3      Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1          Market beyond what to expect by 2025 ($Million)

2.1.1      Moderate growth scenario

2.1.2      Rapid growth scenario

2.1.3      Diminishing growth scenario

CHAPTER 3 MARKET OVERVIEW

3.1          Market Definition and Scope

3.2          Addressable Market Scenario

3.3          Ethical Considerations

3.4          Key Findings

3.4.1      Top Factors Impacting on global neuroprosthetics market

3.4.2      Top Investment Pockets of global neuroprosthetics market

3.4.3      Top winning strategies of global neuroprosthetics market

3.5          Advances in neuroprosthetic implantation

3.5.1      Stereotactic implantation

3.5.1.1   Historical Perspective

3.5.1.2   Current Trends

3.5.1.2.1    INCREASING USE OF MRI, CT SCANS AND OTHER IMAGE GUIDING SYSTEMS FOR STEREOTACTIC IMPLANTATION

3.5.1.2.2     ROBOTS FOR IMPROVED STEREOTAXIC PRECISION

3.5.1.3   Competitive scenario

3.5.2      Electrophysiological mapping

3.5.2.1   Historical Perspective

3.5.2.2   Current Trends

3.5.2.2.1 EVOKED POTENTIAL MONITORING

3.5.2.2.2 SINGLE-UNIT RECORDINGS

3.5.2.3   Competitive scenario

3.6          Government Regulations

3.6.1      Medical Devices regulations in United States (U.S.)

3.6.2      Medical Devices regulations in Europe and UK

3.6.3      Medical Devices regulations in Asia-Pacific

3.6.4      Regulatory approval timeframe in different regions

3.7          Patent Analysis

3.7.1      Patent analysis by geographies (2010-2014)

3.7.2      Patent analysis based on medical condition (2011-2014)

3.8          Clinical Trials for Neuroprosthetics

3.9          Value chain analysis

3.9.1      Brain Machine interfaces and neurostimulators

3.9.2      Embedded neuroprosthetic devices/implants

3.10        Market Share Analysis

3.11        Market Dynamics

3.11.1    Drivers

3.11.1.1 Rapid progression of technology – assist in improving neuroprosthetics

3.11.1.2 New device approvals- leading towards early commercialization to achieve competitive edge

3.11.1.3 Rising burden of neurological disorders that responds to neurostimulation

3.11.1.4 Availability of Funds and research grants

3.11.2    Restraints

3.11.2.1   Reimbursement Issues – have negative impact on  neuroprosthetics adoption rate

3.11.2.2 Adverse reactions- increases risk of mortality and decreases usage rate

3.11.2.3 High cost of product and therapy

3.11.3    Opportunities

3.11.3.1 Early commercialization of pipeline products assists to gain competitive advantage

CHAPTER 4 GLOBAL NEUROPROSTHETICS MARKET BY TECHNOLOGY, 2013-2020, $MILLION

4.1  Deep Brain Simulation (DBS)

4.1.1      Historical Perspective

4.1.2      Current Trends

4.1.2.1   Advancement in component system

4.1.2.2   Other technological advances

4.1.3      Competitive Scenario

4.2 Vagus Nerve Stimulation (VNS)

4.2.1      Historical Perspective

4.2.2      Current trends

4.2.2.1   Direct and transcutaneous vagus nerve stimulators are gaining popularity

4.2.3      Competitive Scenario

4.3 Spinal Cord Stimulation (SCS)

4.3.1      Historical Perspective

4.3.2      Current trends

4.3.2.1   Rechargeable neurostimulation system gaining significant attention

4.3.2.1.1 RESTORE™ RECHARGEABLE NEUROSTIMULATION SYSTEM

4.3.2.1.2 EON™ NEUROSTIMULATION SYSTEM

4.3.2.1.3 PRECISION™ SPINAL CORD STIMULATION SYSTEM

4.3.3      Competitive Scenario

4.4   Sacral Nerve Stimulation (SNS)

4.4.1      Historical Perspective

4.4.2      Current trends

CHAPTER 5 GLOBAL NEUROPROSTHETICS MARKET BY TYPE, 2013-2020, $MILLION

5.1 Motor Prosthetics

5.1.1      Key Market Trends

5.1.2      Key growth factors and opportunities

5.1.3      Market Size and forecast

5.2  Auditory Prosthetics / Cochlear Implants

5.2.1      Key Market Trends

5.2.2      Key growth factors and opportunities

5.2.3      Market Size and forecast

5.3 Visual Prosthetics / Retinal Implants

5.3.1      Key Market Trends

5.3.2      Key growth factors and opportunities

5.3.3      Market Size and forecast

5.4  Cognitive Prosthetics

5.4.1      Key Market Trends

5.4.2      Key growth factors and opportunities

5.4.3      Market Size and forecast

CHAPTER 6   GLOBAL NEUROPROSTHETICS MARKET BY APPLICATION, 2013-2020, $MILLION

6.1  Motor Neuron disorders

6.1.1      Parkinson’s disease

6.1.2      Epilepsy

6.2  Physiological disorders

6.2.1      Auditory disorders

6.2.2      Ophthalmic disorders

6.2.3      Cardiac disorders

6.2.4      Kidney disorders

6.3 Cognitive disorders

6.3.1      Alzheimer's disease

6.3.2      Severe depression

CHAPTER 7 GLOBAL NEUROPROSTHETICS MARKET BY GEOGRAPHY, 2013-2020, $MILLION

7.1 North America

7.1.1      Key market trends

7.1.2      Competitive scenario

7.1.3      Key growth factors and opportunities

7.1.4      Market size and forecast

7.2  Europe

7.2.1      Key market trends

7.2.2      Competitive scenario

7.2.3      Key growth factors and opportunities

7.2.4      Market size and forecast

7.3  Asia-Pacific

7.3.1      Key market trends

7.3.2      Competitive scenario

7.3.3      Key growth factors and opportunities

7.3.4      Market size and forecast

7.4  LAMEA

7.4.1      Key market trends

7.4.2      Competitive scenario

7.4.3      Key growth factors and opportunities

7.4.4      Market size and forecast

CHAPTER 8  COMPANY PROFILES

8.1          Boston Scientific Corporation

8.1.1      Overview

8.1.2      Company snapshot

8.1.3      Operating Business Segments

8.1.4      Financial performance

8.1.5      Strategic moves and developments

8.1.6      SWOT analysis

8.2  Cochlear Limited

8.2.1      Overview

8.2.2      Company snapshots

8.2.3      Operating Business Segments

8.2.4      Financial performance

8.2.5      Strategic moves and developments

8.2.6      SWOT analysis

8.3 Cyberonics Inc.

8.3.1      Overview

8.3.2      Company snapshot

8.3.3      Operating Business Segments

8.3.4      Financial performance

8.3.5      Strategic moves and developments

8.3.6      SWOT analysis

8.4 Medtronic Inc.

8.4.1      Company overview

8.4.2      Company snapshots

8.4.3      Operating Business Segments

8.4.1      Financial  performance

8.4.2      Strategic moves and developments

8.4.3      SWOT Analysis

8.5          NDI Medical LLC

8.5.1      Overview

8.5.2      Company snapshot

8.5.3      Operating Business Segments

8.5.4      Strategic moves and developments

8.5.5      SWOT analysis

8.6  Nervo Corp.

8.6.1      Overview

8.6.2      Company snapshot

8.6.3      Operating Business Segments

8.6.4      Strategic moves and developments

8.6.5      SWOT analysis

8.7          NeuroPace Inc.

8.7.1      Overview

8.7.2      Company snapshot

8.7.3      Operating Business Segments

8.7.4      Strategic moves and developments

8.7.5      SWOT analysis

8.8          Retina Implant AG

8.8.1      Overview

8.8.2      Company snapshot

8.8.3      Operating Business Segments

8.8.4      Strategic moves and developments

8.8.5      SWOT analysis

8.9 ST. Jude Medical

8.9.1      Overview

8.9.2      Company snapshot

8.9.3      Operating Business Segments

8.9.4      Financial performance

8.9.5      Strategic moves and developments

8.9.6      SWOT analysis

8.10  Sonova Group (Advanced Bionics AG)

8.10.1    Company overview

8.10.2    Company snapshots

8.10.3    Operating Business Segments

8.10.4    Financial performance

8.10.5    Strategic moves and developments

8.10.6    SWOT analysis

LIST OF TABLES

TABLE 1    MODERATE GROWTH SCENARIO OF NEUROPROSTHETICS  MARKET BY GEOGRAPHY, 2020 – 2025, ($MILLION)
TABLE 2    RAPID GROWTH SCENARIO OF NEUROPROSTHETICS  MARKET BY GEOGRAPHY, 2020 – 2025, ($MILLION)
TABLE 3    DIMINISHING GROWTH SCENARIO OF NEUROPROSTHETICS  MARKET BY GEOGRAPHY, 2020 – 2025, ($MILLION)
TABLE 4    MEDICAL DEVICE CATEGORIES LISTED BY EC
TABLE 1    PATENT ANALYSIS BY GEOGRAPHIES (2011-2014)
TABLE 2    CLINICAL TRIALS FOR NEUROPROSTHETICS
TABLE 3    CURRENT RESEARCH IN EMERGING TECHNOLOGIES AND THEIR APPLICATIONS IN NEUROPROSTHETICS
TABLE 4    LIST OF USFDA APPROVED, COMMERCIALLY AVAILABLE NEUROPROSTHETICS
TABLE 5    GLOBAL PREVALENCE OF NEUROLOGICAL DISORDERS
TABLE 6    AVERAGE COST OF NEUROPROSTHETIC THERAPY/ PRODUCTS
TABLE 7    GLOBAL NEUROPROSTHETICS  MARKET BY TECHNOLOGY, 2013 – 2020 ($MILLION)
TABLE 8    FDA APPROVED APPLICATIONS FOR DEEP BRAIN STIMULATION
TABLE 9    VAGUS NERVE STIMULATION DEVICE: FACT SHEET
TABLE 10  GLOBAL NEUROPROSTHETICS MARKET BY TYPES, 2013 – 2020 ($MILLION)
TABLE 11  COMPANIES AND THEIR FDA APPROVED COCHLEAR IMPLANTS
TABLE 12  GLOBAL NEUROPROSTHETICS MARKET BY APPLICATION, 2013 – 2020 ($MILLION)
TABLE 13  PARKINSON’S DISEASE NEUROPROSTHETICS MARKET, 2013 – 2020 ($MILLION)
TABLE 14  EPILEPSY NEUROPROSTHETICS MARKET, 2013 – 2020 ($MILLION)
TABLE 15  GLOBAL ESTIMATE AND PREVALENCE OF DISABLING HEARING LOSS, IN ADULTS 15 YEARS OR OLDER AND CHILDREN 0-14 YEARS (MILLIONS AND PERCENTAGE OF POPULATION) 
TABLE 16 AUDITORY DISORDERS NEUROPROSTHETICS MARKET, 2013 – 2020 ($MILLION)
TABLE 17 OPHTHALMIC DISORDERS NEUROPROSTHETICS MARKET, 2013 – 2020 ($MILLION)
TABLE 18 NEUROCARDIAC DISORDERS NEUROPROSTHETICS MARKET, 2013 – 2020 ($MILLION)
TABLE 19 KIDNEY DISORDERS NEUROPROSTHETICS MARKET, 2013 – 2020 ($MILLION)
TABLE 20 ALZHEIMEER’S DISEASE NEUROPROSTHETICS MARKET, 2013 – 2020 ($MILLION)
TABLE 21 SEVERE DEPRESSION NEUROPROSTHETICS MARKET, 2013 – 2020 ($MILLION)
TABLE 22 GLOBAL NEUROPROSTHETICS MARKET BY GEOGRAPHY, 2013 – 2020 ($MILLION)
TABLE 23 NORTH AMERICA NEUROPROSTHETICS MARKET BY VALUE, 2013 – 2020 ($MILLION)
TABLE 24 EUROPE NEUROPROSTHETICS MARKET BY VALUE, 2013 – 2020 ($MILLION)
TABLE 25 ASIA-PACIFIC NEUROPROSTHETICS MARKET BY VALUE, 2013 – 2020 ($MILLION)
TABLE 26 LAMEA NEUROPROSTHETICS MARKET BY VALUE, 2013 – 2020 ($MILLION)
TABLE 27 BOSTON SCIENTIFIC CORPORATION SNAPSHOT
TABLE 28 BOSTON SCIENTIFIC CORPORATION OPERATING SEGMENTS
TABLE 29 COCHLEAR CORPORATION SNAPSHOT
TABLE 30 COCHLEAR CORPORATION OPERATING SEGMENTS
TABLE 31 CYBERONICS INC SNAPSHOT
TABLE 32 MEDTRONIC SNAPSHOT
TABLE 33 MEDTRONIC OPERATING SEGMENTS
TABLE 34 NDI MEDICAL SNAPSHOT
TABLE 35 NDI MEDICAL LLC OPERATING SEGMENTS
TABLE 36 NERVO CORP. SNAPSHOT
TABLE 37 NEUROPACE INC.  SNAPSHOT
TABLE 38 RETINA IMPLANT AG  SNAPSHOT
TABLE 39 ST. JUDE MEDICAL SNAPSHOT
TABLE 40 ST. JUDE MEDICAL OPERATING SEGMENTS
TABLE 41 SONOVA GROUP SNAPSHOT
TABLE 42 SONOVA GROUP OPERATING SEGMENTS

LIST OF FIGURES
FIG. 1    TOP FACTORS IMPACTING NEUROPROSTHETICS MARKET (2013-2020)
FIG. 2    TOP INVESTMENT POCKETS OF GLOBAL NEUROPROSTHETICS MARKET(2013)
FIG. 3    TOP WINING STRATEGIES FOR GLOBAL NEUROPROSTHETICS MARKET (2011-2014)
FIG. 4    STRATEGIC SHARE OF NEUROPROSTHETICS APPLICATION
FIG. 5    TOP WINING STRATEGIES BY NEUROPROSTHETICS APPLICATION
FIG. 6    FDA APPROVED INDICATIONS FOR NEUROPROSTHETICS
FIG. 7    AVERAGE APPROVAL TIME FOR DIFFERENT CLASSES OF MEDICAL DEVICE IN LEADING MARKETS IN 2013
FIG. 8    PATENT ANALYSIS BY GEOGRAPHIES (2011-2014)
FIG. 9    PATENT ANALYSIS BASED ON MEDICAL CONDITION(2011-2014)
FIG. 10    NEUROPROSTHETICS- VALUE CHAIN
FIG. 11    GLOBAL NEUROPROSTHETICS MARKET SHARE ANALYSIS (2013)
FIG. 12    GLOBAL MOTOR PROSTHETICS MARKET, 2013 – 2020 ($MILLION)
FIG. 13    GLOBAL AUDITORY PROSTHETICS MARKET, 2013 – 2020 ($MILLION)
FIG. 14    GLOBAL VISUAL PROSTHETICS MARKET, 2013 – 2020 ($MILLION)
FIG. 15    GLOBAL COGNITIVE PROSTHETICS MARKET, 2013 – 2020 ($MILLION)
FIG. 16    PREVALENCE OF ALZHEIMER’S DISEASE IN UNITED STATES, BY AGE (2014)
FIG. 17    REVENUE OF BOSTON SCIENTIFIC CORPORATION. BY GEOGRAPHY(2013)
FIG. 18    REVENUE BOSTON SCIENTIFIC CORPORATION. BY PRODUCT GROUPS(2013)
FIG. 19    SWOT ANALYSIS OF BOSTON SCIENTIFIC CORPORATION.
FIG. 20    REVENUE OF COCHLEAR CORPORATION LTD. BY GEOGRAPHY(2014)
FIG. 21    REVENUE OF COCHLEAR CORPORATION LTD. BY PRODUCT GROUPS(2014)
FIG. 22    SWOT ANALYSIS OF MEDTRONIC INC.
FIG. 23    REVENUE OF CYBERONICS INC. BY GEOGRAPHY(2014)
FIG. 24    SWOT ANALYSIS OF CYBERONICS INC.
FIG. 25    REVENUE OF MEDTRONIC INC. BY GEOGRAPHY(2013)
FIG. 26    REVENUE MEDTRONIC INC. BY BUSINESS GROUP(2013)
FIG. 27    SWOT ANALYSIS OF MEDTRONIC INC.
FIG. 28    SWOT ANALYSIS OF NDI MEDICAL LLC.
FIG. 29    SWOT ANALYSIS OF NERVO CORP.
FIG. 30    SWOT ANALYSIS OF NEUROPACE INC.
FIG. 31    SWOT ANALYSIS OF NEUROPACE INC.
FIG. 32    NET SALES OF ST. JUDE MEDICAL. BY GEOGRAPHY(2013)
FIG. 33    NET SALES OF ST. JUDE MEDICAL. BY BUSINESS GROUP(2013)
FIG. 34    SWOT ANALYSIS OF ST. JUDE MEDICAL.
FIG. 35    REVENUE OF SONOVA GROUP. BY GEOGRAPHY(2013/14)
FIG. 36    REVENUE SONOVA GROUP. BY PRODUCT GROUPS(2013/14)
FIG. 37    SWOT ANALYSIS OF SONOVA HOLDING AG.

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