Market World Neuroprosthetics Market Opportunities | Page 3

The largest share of over 50.0% in terms of revenue was held by North America in 2015. The dominancy in terms
of revenue can be attributed to various factors such as, private and government funding as well as supportive
healthcare infrastructure. Europe is anticipated to witness an upward shift as a consequence of advent of
technologically advanced products for patients with impaired hearing and increasing initiatives by the
government.
The fastest growing region is predicted to be Asia Pacific owing to the untapped opportunities present in this
emerging region. The shifting focus towards overall cost containment in manufacturing of implants and high
awareness amongst patients are predicted to drive the growth prospects. Moreover, increasing investments by
the key players for development of new manufacturing facilities is expected to provide high growth potential
over the coming years for neural implants.
Competitive Insights
Various companies which offer solutions for a wide range of neurological disorders are BrainGate, Sonova, MED-
EL, Nervo Corp., Retina Implant AG, St. Jude Medical Inc., and Boston Scientific Corporation. The prominent
players include NeuroPace Inc, NDI Medical LLC, Medtronic Inc., Cyberonics Inc., and Cochlear Limited.
The oligopolistic nature of the market and companies help in providing technologically advanced and effective
solutions including, stimulators, smart hearing devices, wireless mini microphones and advanced therapy for
neurological diseases. Geographic expansion and strategic collaborations are some of the few sustainable
strategies that are adopted by these players. This is predicted to keep the industry’s competitive rivalry at the
highest level and drive the market throughout the forecast period.
Market Segments:
Global Neuroprosthetics Type Outlook (Revenue, USD Million, 2013 - 2024)
• Motor Prosthetics
• Auditory Prosthetics/Cochlear Implants
• Cognitive Prosthetics
• Visual Prosthetics/Retinal Implants
Global Neuroprosthetics Technology Outlook (Revenue, USD Million, 2013 - 2024)
• Deep Brain Stimulation (DBS)
• Vagus Nerve Stimulation (VNS)
• Spinal Cord Stimulation (SCS)
• Sacral Nerve Stimulation (SNS)