Neuroprosthetics Market to Witness Growth Owing to Rising Prevalence of Neurological Disorders | Technavio

Technavio has published a new report on the global neuroprosthetics market from 2017-2021. (Graphic: Business Wire)

LONDON--()--The global neuroprosthetics market is expected to grow at a CAGR of more than 7% during the forecast period, according to Technavio’s latest market research.

In this market research report, Technavio covers the market outlook and growth prospects of the global neuroprosthetics market for 2017-2021. The market is further categorized into two application segments, including neuromodulation devices and cognitive devices, of which the neuromodulation devices segment accounted for 69% of the market share in 2016.

“The global neuroprosthetics market is expected to grow steadily during the forecast period due to increasing prevalence of neurological diseases, spinal cord injuries, and growing awareness about rehabilitative therapy. The increasing research studies and technological advancements are expected to fuel the market,” says Neha Noopur, a lead orthopedics and medical devices research expert from Technavio.

Technavio’s research analysts segment the global neuroprosthetics market into the following regions:

  • Americas
  • EMEA
  • APAC

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Neuroprosthetics market in Americas

In 2016, the Americas had the largest market share of the global neuroprosthetics market. The market is expected to continue its growth at a steady pace during the forecast period due to the high incidences of neurological disease. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2013, approximately five million people suffered from Alzheimer's disease in the US. Furthermore, about 1% of population aged 60 years and above and 4% population aged 80 years and above have been diagnosed with Parkinson's disorder in the US.

In the US, the implementation of government insurance plans such as Medicaid and Medicare have resulted in significant reduction in out-of-pocket expenses for the US citizens. For instance, the average co-pay of about USD 50 for the treatment of neurological diseases under insurance coverage in the US and Canada are driving demand for neuroprosthetics.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Neuroprosthetics market in EMEA

In EMEA organizations like European Federation of Neurological Associations are establishing a strong partnership and alliance with stakeholders in clinical, scientific, and political fields to work in neurology, termed as Partnership in Progress. These initiatives enable the efforts to increase awareness among various stakeholders regarding the growing disease burden as well as the technological advances for rapid muscular and pain relief.

“The demand for neuroprosthetics is high in European countries due to the high prevalence of neurological disorders, which require stimulation devices to re-activate muscular strength and address issues with body movement. The market in EMEA has shown a significant growth in the use of neuroprosthetics which is expected to grow further during the forecast period,” says Neha.

Neuroprosthetics market in APAC

The neuroprosthetics market in APAC is expected to grow at the fastest pace during the forecast period. The rising disposable income and increasing access to advanced healthcare facilities due to several M&As among prominent players have significantly impacted the growth of the neuroprosthetics market in APAC. The growing economies and expanding population are leading to rising demand for good healthcare infrastructure in this region.

Almost half of the world's population resides in Asia, hence the demand for such medical devices will increase in this region due to increasing numbers of neurological diseases such as MS, Parkinson's disease, stroke, SCI, and Alzheimer's disease. The leading players are expanding their foothold in emerging economies. The increasing expansion due to M&A and partnerships with the regional players will significantly increase the market share of APAC region in future.

The top vendors in the global neuroprosthetics market as highlighted in this market research analysis are:

  • Abbott (St. Jude Medical)
  • Boston Scientific
  • Cochlear
  • Medtronic
  • Sonova

Browse Related Reports:

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The global neuroprosthetics market is expected to grow at a CAGR of more than 7% during the forecast period, according to Technavio’s latest report.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200