Austin, May 20, 2025 (GLOBE NEWSWIRE) -- Neuroprosthetics Market Size & Growth Analysis:
“According to SNS Insider, The Neuroprosthetics Market was estimated at USD 12.69 billion in 2023 and is expected to reach USD 38.93 billion by 2032, at a CAGR of 13.28% during the forecast period of 2024-2032.”
The neuroprosthetics market is experiencing strong growth with increasing neurological disorders, growing demand for sophisticated assistive technologies, and technological advancements in brain-computer interface (BCI) and neural stimulation equipment. Aging populations and better health coverage across the world are also driving adoption. Technical advancements, accompanied by encouraging reimbursement and regulatory policies, are likely to drive growth in the market across developed and emerging countries during the forecast period.
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The U.S. Neuroprosthetics Market was estimated at USD 4.13 billion in 2023 and is expected to reach USD 11.84 billion by 2032, at a CAGR of 12.01% during the forecast period of 2024-2032. The U.S. maintains the largest market share in the North American neuroprosthetics market owing to its superior healthcare infrastructure, high incidence of neurological disorders, and well-established market presence of the key players. Excessive R&D expenditure and early embracement of cutting-edge neurotechnologies also account for the dominance of the country in the market.
Major Players Analysis Listed in this Report are:
- Medtronic plc
- Cochlear Ltd.
- Abbott Laboratories
- Boston Scientific
- LivaNova PLC
- Second Sight Medical Products Inc.
- MED-EL
- Retina Implant AG
- Sonova
- NeuroPace
- NDIE Medical LLC
- Nevro
- St. Jude Medical Inc.
- Nervo Corp.
- BrainGate
Neuroprosthetics Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 12.69 billion |
| Market Size by 2032 | US$ 38.93 billion |
| CAGR | CAGR of 13.28% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | The neuroprosthetics market is witnessing robust growth, fueled by the increasing emphasis on personalized healthcare. |
By Type, Output Neural Prosthetics Segment Dominated the Market, Input Neural Prosthetics Projected to Witness Fastest Growth
The output neural prosthetics segment dominated the neuroprosthetics market in 2023, with a 55% share, led primarily by its crucial role of rehabilitating motor functions in spinal cord injury, limb amputation, or neurological diseases like Parkinson's disease. Devices such as cochlear implants, retinal prosthetics, and motor prostheses are widely accepted due to their established effectiveness and reimbursement in developed economies. The rising demand for restoration of motor function and the growing prevalence of neuromuscular diseases have fueled the demand for output prosthetics. Moreover, strong clinical study support, more regulatory clearances, and developments in the technology of neural interfaces have established the dominance of output devices among rehabilitation centers and healthcare facilities.
The input neural prosthetics market is expected to witness the fastest growth during the forecast period, driven by increasing developments in brain-computer interfaces (BCIs) and deep brain stimulation (DBS) technology. These products are accelerating with promising indications for sensory and cognitive challenges associated with epilepsy, depression, and other neuropsychiatric disorders. Input systems Innovations in input systems are driven by a better understanding of neurocognitive disorders and the investment of private and public funds into neurotechnology. Real-time processing of brain signals and synchronizing them with artificial intelligence are creating new uses and expanding the applications of these products beyond traditional therapy, with tremendous growth opportunities.
By Technique, Deep Brain Stimulation Segment Dominated the Market
In 2023, the deep brain stimulation (DBS) segment accounted for the largest share of 40% of the neuroprosthetics market, owing to the clinical efficacy of DBS implants in treating various neurological diseases, including Parkinson's disease, dystonia, and essential tremor. Deep Brain Stimulation (DBS) is an established, FDA-approved intervention that has been well shown to provide dramatic improvements in motor function and quality of life to patients who do not experience relief from standard therapies. The ability to adjust and reverse itself won him a favorite seat among neurosurgeons and their patients. DBS has been positioned at the center of the neuroprosthetics industry due to increased incidence of movement disorders along with growing neurotechnology research investments as well as favorable reimbursement scenario.
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North America Leads the Neuroprosthetics Market, Asia-Pacific to Emerge as Fastest Growing Region
North America accounted for the highest share in the neuroprosthetics market during 2023 because of its well-developed healthcare infrastructure, high healthcare expenditures, and predominant presence of renowned medical device players. The region is favored with increasing rates of neurological diseases such as Parkinson's disease and spinal cord injuries, and increased investments in neurotechnology. Favorable reimbursements, pro-regulatory measures, and increasing awareness regarding cutting-edge prosthetic solutions also work in favor of North America leading the neuroprosthetics market.
Asia-Pacific is expected to register the fastest growth in the neuroprosthetics market during the forecast period due to a fast-growing aging population and rising incidence of neurological disorders. Growing healthcare spending, enhanced access to healthcare facilities, and growing government programs for rehabilitation and disability care are driving market growth. In addition, the increased research collaborations, medical tourism, and embracing new technologies in nations such as China, India, and Japan are driving expansion in the region.
Neuroprosthetics Market Segmentation
By Type
- Output Neural Prosthetics
- Motor Prosthetics
- Cognitive Prosthetics
- Input Neural Prosthetics
- Cochlear Implant
- Bionic Eye/ Retinal Implant
By Technique
- Spinal Cord Stimulation
- Deep Brain Stimulation
- Vagus Nerve Stimulation
- Sacral Nerve Stimulation
- Transcranial Magnetic Stimulation
By Application
- Motor Neuron Disorders
- Parkinson’s Disease
- Epilepsy
- Physiological Disorders
- Auditory Processing Disorders
- Cardiovascular Disorders
- Kidney Disorders
- Ophthalmic Disorders
- Cognitive Disorders
- Alzheimer's Disease
- Paralysis
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence of Target Conditions (2023)
5.2 Adoption and Utilization Trends (2023), by Region
5.3 Neuroprosthetics Device Volume, by Region (2020-2032)
5.4 Healthcare Spending, by Region, for Neurological Interventions (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Neuroprosthetics Market by Type
8. Neuroprosthetics Market by Technique
9. Neuroprosthetics Market by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
Related Report
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