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The Market for Neurotechnology (2018-2022): Projected to Reach $13.3 Billion by 2022 featuring Cochlear, Medtronic, Natus Medical, Advanced Bionics, Boston Scientific, Nihon-Kohden, and many more - ResearchAndMarkets.com

October 3, 2018

DUBLIN--(BUSINESS WIRE)--Oct 3, 2018--The “The Market for Neurotechnology: 2018-2022” report has been added to ResearchAndMarkets.com’s offering.

The report projects that the overall 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 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.

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 migraine pain, depression, and cardiovascular disorders such as hypertension and angina pain.

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.

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.

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.

Topics Covered

I. Executive Summary

II. Diseases, Disorders, and Conditions

III. Neurotechnology Markets

IV. Neuroprosthetics Products

V. Neuromodulation Products

VI. Neurorehabilitation Products

VII. Neurosensing Products

VIII. Company Profiles

IX. Research Institution Profiles

X. Funding Sources

Includes profiles for:

Abbott Advanced Bionics Corp Aleva Neurotherapeutics AlterG Battelle Boston Scientific Corp. BrainScope Brown University Cleveland Clinic Cleveland Medical Devices Inc. Clinatec Cochlear Ltd. Duke University ElectroCore Medical, LLC EndoStim, Inc. Halyard Health Inspire Medical Systems Johns Hopkins University Med-El Medtronic plc NeuroSigma Inc. Nihon Kohden Corp. Nuvectra Corp. Ossur hf ReShape Lifesciences Inc. Restorative Therapies Inc. Royal Philips SPR Therapeutics Saluda Medical Second Sight Medical Products SetPoint Medical Stimwave LLC UMC Utrecht Zynex Medical and many, many more...

For more information about this report visit https://www.researchandmarkets.com/research/vqp8l7/the_market_for?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181003005363/en/

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Related Topics:Neurology Devices

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE HEALTH MENTAL HEALTH

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 10/03/2018 05:35 AM/DISC: 10/03/2018 05:35 AM

http://www.businesswire.com/news/home/20181003005363/en

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