Dublin, Dec. 4, 2014 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/rpjlvf/global) has announced the addition of the "Global Neuroprosthetics Market (Product Types, Technology, Application, and Geography) - Size, Share, Global Trends, Company Profiles, Analysis, Segmentation and Forecast, 2013 - 2020" report to their offering.
According to this report titled, Global Neuroprosthetics Market (Product Types, Technology, Application, and Geography) Size, Share, Global Trends, Company Profiles, Analysis, Segmentation and Forecast, 2013 - 2020", the global neuroprosthetics market is expected to reach $14 billion by 2020, registering a CAGR of 15.8% from 2014 to 2020. High growth segments such as Visual neuroprosthetics/retinal implants and applications such as Parkinson's disease, Overactive Bladder Syndrome and Epilepsy are expected to contribute substantially to the growth of the overall global Neuroprosthetics market. Motor Prosthetics holds the largest share within Neuroprosthetics devices market segment whereas Sacral Cord Stimulation (SCS) would maintain the leading market position through 2020, within technology segment.
Multitude of cognitive and physiological disorders have a debilitating impact on 'quality-of-life' of affected patient populace. A majority (-80%) of such patients are unamenable to any form of treatment as first line (drug) and second line (invasive surgeries) treatments fail. Neuroprosthetics devices or neural implants or brain implants offer an efficacious solution to the afore-mentioned type of patients.
Neuroprosthetics deploy technologies such as Deep Brain Simulation (DBS), Vagus Nerve Stimulation (VNS), Spinal Cord Stimulation (SCS) and Sacral Nerve Stimulation (SNS) depending on the clinical condition to ameliorate the disease condition. Depending on the condition treated, product types of Neuroprosthetics include Motor Prosthetics, Auditory Prosthetics/ Cochlear Implants, Visual Prosthetics/ Retinal implants and Cognitive Prosthetics. Owing to various factors such as high base of affected patient population, the patient population amenable to Neuroprosthetics and scope of improvement in QALY, the Motor Neuroprosthetics market for treating Parkinson's disease garners the largest market share; Motor Neuroprosthetics for treating Overactive Bladder Syndrome and Motor Neuroprosthetics for treating Epilepsy are second and third largest segment respectively. Despite such benefits that are high-impact growth drivers for the market, high-cost of devices curtail the adoption rate by patients, thus restrain the market growth.
Key Topics Covered:
CHAPTER 1 INTRODUCTION
CHAPTER 2 EXECUTIVE SUMMARY
CHAPTER 3 MARKET OVERVIEW
CHAPTER 4 GLOBAL NEUROPROSTHETICS MARKET BY TECHNOLOGY, 2013-2020, $MILLION
CHAPTER 5 GLOBAL NEUROPROSTHETICS MARKET BY TYPE, 2013-2020, $MILLION
CHAPTER 6 GLOBAL NEUROPROSTHETICS MARKET BY APPLICATION, 2013-2020, $MILLION
CHAPTER 7 GLOBAL NEUROPROSTHETICS MARKET BY GEOGRAPHY, 2013-2020, $MILLION
CHAPTER 8 COMPANY PROFILES
- Boston Scientific Corporation
- Cochlear Limited
- Cyberonics Inc.
- Medtronic Inc.
- NDI Medical LLC
- Nervo Corp.
- NeuroPace Inc.
- Retina Implant AG
- ST. Jude Medical
- Sonova Group (Advanced Bionics AG)
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Source:Research and Markets