Neurotech Devices Market Analysis

Product (Neurostimulation, Neuroprostheses, Neurosensing, Neurorehabilitation)

Neurostimulation segment is poised to account for around 40% neurotech devices market share by 2036. 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 2036, 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 2036 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:

Product	Neurostimulation Neuroprostheses Neurosensing Neurorehabilitation
Stimulators	Deep Brain Stimulator Gastric Electric Stimulator Spinal Cord Stimulator Sacral Nerve Stimulator Vagus Nerve Stimulator Transcutaneous Electric Nerve Stimulation
Conditions	Epilepsy Parkinson's disease Cognitive Disorder
End-Use	Hospitals Clinics Diagnostic Centres Ambulatory Surgical Centres
Type	Imaging Modalities Neurostimulation Cranial Surface Measurement Neurological Implants
End-Use Industry	Oil & Gas Automotive Food & Beverage
Type	Programmable Automation Fixed or Hard Automation Integrated Automation, Flexible or Soft Automation
Application	Parkinson's disease Cerebral palsy Cognitive disorders Epilepsy Incontinence Migraine Hearing conditions Chronic pain Spinal cord injury Stroke Traumatic brain injury

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of neurotech devices was over USD 12 billion.

The market size for industrial automation is projected to cross USD 42 billion by the end of 2036 expanding at a CAGR of 14% during the forecast period i.e., between 2024-2036.

The major players in the market are EndoStim Inc., Natus Medical, Allengers Medical Systems Ltd., Canon Medical Systems Corporation, Elekta Solutions AB, GE HealthCare Technologies Inc., Siemens Healthcare GmbH, The Magstim Company Limited, Tristan Technologies Inc., Abbott Laboratories Inc., Nihon Kohden Corporation, Xiberlinc Inc., Konica Minolta Business Pvt. Ltd., FUKUDA DENSHI, and others.

In terms of product, the neurostimulation segment is anticipated to account for the largest market share of 40% during 2024-2036.

The North American neurotech devices sector is poised to hold the highest share of 41% by 2036.

Neurotech Devices Market Analysis