Neurotech Devices Market Analysis

Product (Neurostimulation, Neuroprostheses, Neurosensing, Neurorehabilitation)

Neurostimulation segment is poised to account for around 40% neurotech devices market share by 2037. The segment growth can be attributed to the increasing R&D activities and rising launch of better and more creative devices for the treatment of neurological disorders.

According to the National Library of Medicine, the US Food and Drug Administration (FDA) and the Critical Path Institute (C-Path) arranged the Neuroscience Annual Workshop in October 2022. Attendees included representatives from academia, government agencies, the patient community, and the drug development industry. The purpose of the workshop was to discuss the future development of therapies and tools for neurological disorders.

Conditions (Epilepsy, Parkinson's disease, Cognitive Disorder)

By the end of 2037, parkinson’s disease segment is estimated to hold over 55% neurotech devices market share. This expansion will highly depend on rising cases of Parkinson’s disease globally, and the increasing use of cholinesterase inhibitors that can treat Parkinson’s disease.

According to the World Health Organization (WHO), An estimated 8.5 million people worldwide have Parkinson's disease (PD) in 2020. According to current estimates, Parkinson's disease (PD) caused 329,000 deaths in 2019, an increase of over 100% since 2000, and 5.8 million disability-adjusted life years (DALYs), an increase of 81% since 2000.

End-Use (Hospitals, Clinics, Diagnostic Centres, Ambulatory Surgical Centres)

In neurotech devices market, hospitals segment is poised to account for more than 45% revenue share by the end of 2037 owing to the rising number of hospitals globally along with favorable compensation policies.  

Columbia had the highest number of hospitals in the OECD in 2022 with close to 11,000, followed by Japan with 8,205 hospitals. This figure depicts the total number of hospitals in a few chosen nations throughout the globe in 2022.

Our in-depth analysis of the global neurotech devices market includes the following segments: