Neurotechnology Global Market Report 2024

Description

“Neurotechnology Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on neurotechnology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for neurotechnology? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The neurotechnology market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Conditions: Cognitive Disorders; Pain Treatment; Urinary And Faecal Incontinence; Epilepsy; Parkinson's Disease; Hearing Conditions; Sleep Disorder; Depression; Other Conditions
2) By Type: Imaging Modalities; Neurostimulation; Cranial Surface Measurement; Neurological Implants; Other Types
3) By End Use: Ambulatory Surgical Centers; Hospitals; Homecare Facilities; Other End Uses
Companies Mentioned: General Electric; Medtronic PLC; Koninklijke Philips N.V.; Toshiba Medical Systems Corporation; Shimadzu Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Neurotechnology involves the study and interaction with the nervous system, encompassing the brain and other components of the nervous system. In clinical settings, neurotechnology is utilized to influence the brain or nervous system, often in therapeutic or rehabilitative contexts.

The primary neurotechnology applications include addressing conditions such as cognitive disorders, pain treatment, urinary and fecal incontinence, epilepsy, Parkinson's disease, hearing conditions, sleep disorders, depression, and various others. Cognitive disorders signify a significant decline in an individual's cognitive function to an extent that, without treatment, regular social activities become challenging. The diverse types of neurotechnology include imaging modalities, neurostimulation, cranial surface measurement, neurological implants, and others. These technologies find application in ambulatory surgical centers, hospitals, homecare facilities, and other medical settings.

The neurotechnology market research report is one of a series of new reports from The Business Research Company that provides neurotechnology market statistics, including neurotechnology industry global market size, regional shares, competitors with a neurotechnology market share, detailed neurotechnology market segments, market trends and opportunities, and any further data you may need to thrive in the neurotechnology industry. This neurotechnology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The neurotechnology market size has grown rapidly in recent years. It will grow from $13.47 billion in 2023 to $15.28 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The expansion observed during the historical period can be attributed to several factors, including a surge in research funding, an aging population, the prevalence of neurological disorders, supportive regulatory frameworks, and various government initiatives.

The neurotechnology market size is expected to see rapid growth in the next few years. It will grow to $25.66 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The anticipated growth in the forecast period can be attributed to regulatory advancements, the intersection of genomics with neurological disorders, the integration of telemedicine in neurology, the adoption of precision medicine, and the development of closed-loop systems. Key trends expected in the forecast period encompass advancements in neuroinformatics, interventions related to neuroplasticity, initiatives in brain mapping, the implementation of remote monitoring solutions, and the utilization of non-invasive brain stimulation techniques.

The anticipated increase in the prevalence of neurological conditions is set to drive the growth of the neurotechnology market in the coming years. Neurological conditions encompass various disorders or diseases affecting the brain, including Alzheimer's disease, Parkinson's disease, epilepsy, and migraine. Neurotechnology is playing a crucial role in diagnosing and treating these conditions through methods such as brain imaging, neurostimulation, neurofeedback, and brain-computer interfaces. For example, as of January 2022, the American Heart Association Inc. projected that Alzheimer's disease and related dementias would impact approximately 9.3 million people in the United States by 2060. Additionally, according to the World Health Organization (WHO) in February 2023, an estimated 5 million people worldwide are expected to be diagnosed with epilepsy annually. Therefore, the increasing prevalence of neurological conditions is a driving force behind the growth of the neurotechnology market.

The upward trajectory of healthcare expenditure is expected to fuel the expansion of the neurotechnology market in the future. Healthcare expenditure, representing the total spending on healthcare-related goods and services within a healthcare system or economy, supports the growth of neurotechnology. This financial support facilitates research, provides access to advanced equipment, promotes education and training, supports clinical trials, ensures regulatory oversight, and makes innovative treatments more accessible to patients requiring neurological care. In November 2022, the Canadian Institute for Health Information reported that healthcare expenditure increased to 0.8%, reaching $331 billion in 2022, following a 7.6% increase in 2021. Therefore, the rising healthcare expenditure is a key driver propelling the growth of the neurotechnology market.

Technological advancements represent a significant trend gaining momentum in the neurotechnology market, with companies adopting innovative technologies to maintain their market positions. For instance, in November 2022, Blackrock Neurotech, a biotechnology company based in the United States, introduced Neuralace, a next-generation technology in neurotechnology. Neuralace, resembling a lace thinner than an eyelash, can cover large areas of the brain's surface. Designed as an ultra-high channel count, flexible electrode, Neuralace provides insights into the technology powering future brain-computer interfaces (BCIs). The system assists patients in regaining tactile function, limb and prosthetic movement, and the ability to control digital devices.

Major companies in the neurotechnology sector are engaging in partnerships to gain a competitive edge. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. For example, in June 2021, CorTec, a Germany-based neurotechnology company, formed a strategic partnership with Blackrock Neurotech, a U.S.-based biotechnology company specializing in brain-computer interface (BCI) systems. This collaboration aims to expedite access to researchers, open new markets, and broaden applications in the implantable neurotechnology markets.

In April 2022, Blackrock Neurotech, a U.S.-based biotechnology company, acquired Mindx Corporation for an undisclosed amount. This acquisition expands Blackrock's software portfolio and positions the company to offer integrated BCI products with cutting-edge features, enhancing its ability to provide a full-stack solution to customers. Mindx Corporation, based in the United States, is known for developing a neuron technology framework for use in spatial computing applications.

Major companies operating in the neurotechnology market report are General Electric, Medtronic PLC, Koninklijke Philips N.V., Toshiba Medical Systems Corporation, Shimadzu Corporation, EndoStim Inc., Elekta AB, Tristan Technologies Inc., Natus Medical Incorporated, Abbott, Boston Scientific Corporation, Cleveland Medical Devices Inc., Cogentix Medical Inc., Nihon Kohden Corporation, LivaNova PLC, Siemens Healthcare Private Limited, Hitachi Medical Corporation, Cochlear Limited, Advanced Bionics AG (Sonova), NeuroPace Inc., NeuroSigma Inc., NeuroMetrix Inc., NeuroSky Inc., NeuroVigil Inc., NeuroPheresis, Neurotech Pharmaceuticals Inc., Neurotech International Limited, NeurotechEU, Neurotech Solutions, Neurotech Reports, Neurotech Research Development .

North America was the largest region in the neurotechnology market in 2023. Europe is expected to be the fastest-growing region in the neurotechnology market report during the forecast period. The regions covered in the neurotechnology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the neurotechnology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The neurotechnology market includes revenues earned by entities from neuro-rehabilitative treatment, heart rate variability, electroencephalography, and neurostimulation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The neurotechnology market consists of sales of brain-computer interfaces (BCIs), neurostimulation devices, virtual reality (VR), and prosthetic limb devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11169

1. Executive Summary

2. Neurotechnology Market Characteristics

3. Neurotechnology Market Trends And Strategies

4. Neurotechnology Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Neurotechnology Market Size and Growth

5.1. Global Neurotechnology Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Neurotechnology Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Neurotechnology Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Neurotechnology Market Segmentation

6.1. Global Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cognitive Disorders
Pain Treatment
Urinary And Faecal Incontinence
Epilepsy
Parkinson's Disease
Hearing Conditions
Sleep Disorder
Depression
Other Conditions
6.2. Global Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Imaging Modalities
Neurostimulation
Cranial Surface Measurement
Neurological Implants
Other Types
6.3. Global Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Ambulatory Surgical Centers
Hospitals
Homecare Facilities
Other End Uses

7. Neurotechnology Market Regional And Country Analysis

7.1. Global Neurotechnology Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Neurotechnology Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Neurotechnology Market

8.1. Asia-Pacific Neurotechnology Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Neurotechnology Market

9.1. China Neurotechnology Market Overview
9.2. China Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Neurotechnology Market

10.1. India Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Neurotechnology Market

11.1. Japan Neurotechnology Market Overview
11.2. Japan Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Neurotechnology Market

12.1. Australia Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Neurotechnology Market

13.1. Indonesia Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Neurotechnology Market

14.1. South Korea Neurotechnology Market Overview
14.2. South Korea Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Neurotechnology Market

15.1. Western Europe Neurotechnology Market Overview
15.2. Western Europe Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Neurotechnology Market

16.1. UK Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Neurotechnology Market

17.1. Germany Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Neurotechnology Market

18.1. France Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Neurotechnology Market

19.1. Italy Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Neurotechnology Market

20.1. Spain Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Neurotechnology Market

21.1. Eastern Europe Neurotechnology Market Overview
21.2. Eastern Europe Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Neurotechnology Market

22.1. Russia Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Neurotechnology Market

23.1. North America Neurotechnology Market Overview
23.2. North America Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Neurotechnology Market

24.1. USA Neurotechnology Market Overview
24.2. USA Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Neurotechnology Market

25.1. Canada Neurotechnology Market Overview
25.2. Canada Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Neurotechnology Market

26.1. South America Neurotechnology Market Overview
26.2. South America Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Neurotechnology Market

27.1. Brazil Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Neurotechnology Market

28.1. Middle East Neurotechnology Market Overview
28.2. Middle East Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Neurotechnology Market

29.1. Africa Neurotechnology Market Overview
29.2. Africa Neurotechnology Market, Segmentation By Conditions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Neurotechnology Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Neurotechnology Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Neurotechnology Market Competitive Landscape And Company Profiles

30.1. Neurotechnology Market Competitive Landscape
30.2. Neurotechnology Market Company Profiles
- 30.2.1. General Electric
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Medtronic PLC
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Koninklijke Philips N.V.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Toshiba Medical Systems Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Shimadzu Corporation
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Neurotechnology Market Competitive Benchmarking

32. Global Neurotechnology Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Neurotechnology Market

34. Neurotechnology Market Future Outlook and Potential Analysis

34.1 Neurotechnology Market In 2028 - Countries Offering Most New Opportunities
34.2 Neurotechnology Market In 2028 - Segments Offering Most New Opportunities
34.3 Neurotechnology Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer