Neuroprosthetics Market Report 2025

This Neuroprosthetics 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.

The neuroprosthetics market size has grown rapidly in recent years. It will grow from $10.27 billion in 2024 to $11.72 billion in 2025 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to aging population, government initiatives, research and development, regulatory approvals, investment and funding.

The neuroprosthetics market size is expected to see rapid growth in the next few years. It will grow to $20.61 billion in 2029 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to personalized medicine, chronic disease prevalence, telemedicine services, global healthcare expenditure, neurorehabilitation. Major trends in the forecast period include brain-computer interfaces (bcis), artificial intelligence (ai) and machine learning, non-invasive neuroprosthetics, sensory restoration, biohybrid neuroprosthetics.

The growth of the neuroprosthetics market is anticipated to be propelled by the increasing patient population suffering from neurological disorders and nerve injuries. Neurological disorders affect the brain, nerves, and spinal cord, while nerve injuries result from accidents or unpredictable events, causing damage to nerves through pressure, cuts, or stretching. Neuroprosthetics play a vital role in assisting patients with such disorders and injuries by restoring lost motor and sensory functions. According to the World Health Organization (WHO), 50 million people globally suffered from epilepsy in 2022, with nearly 80% residing in low and middle-income countries. Thus, the rising patient population with neurological disorders and nerve injuries is a key driver of the neuroprosthetics market.

The growth of the neuroprosthetics market is expected to be driven by the increasing prevalence of hearing loss. Hearing loss, or hearing impairment, refers to the partial or total inability to hear sounds in one or both ears. Neuroprosthetics are utilized in hearing loss cases to improve hearing, enhance speech perception, and provide auditory rehabilitation. An article by the World Health Organization estimates that over 430 million people, more than 5% of the global population, will require rehabilitation for hearing loss by 2023, with the number expected to exceed 700 million by 2050. Hence, the increasing prevalence of hearing loss is anticipated to fuel the growth of the neuroprosthetics market.

Technological advancements are influencing the neuroprosthetics market. Technological advancement is defined as the discovery of knowledge that enhances technology to offer improved products to customers. For example, in October 2022, Axoft, a US-based nanotechnology company, introduced brain-machine interface (BMI) technology. This technology features soft, flexible implants made from bioinspired materials that replicate brain tissue, ensuring long-term stability and reducing the likelihood of scarring or infection. This innovative design facilitates ultra-high bandwidth and stable measurements at the single-neuron level, significantly improving the treatment potential for neurological disorders such as epilepsy and Parkinson's disease while decreasing the need for frequent replacements.

Major companies in the neuroprosthetics market are focusing on developing innovative products, such as brain-machine interfaces (BMIs), to meet the growing demand. A brain-machine interface (BMI) is a device facilitating direct communication between the brain and a machine for control purposes. Axoft, a nanotechnology company, launched a BMI in October 2022 to enhance the treatment of neurological disorders. BMI technology involves stages such as acquiring neuronal signals, signal preprocessing, extracting relevant features, and generating control signals.

In April 2022, Blackrock Neurotech, a US-based biotechnology company specializing in brain-computer interface (BCI) technology, announced a collaboration with Phantom Neuro. This partnership is focused on creating advanced prosthetics and exoskeletons that replicate human movement in real-time, enhancing mobility and functionality for individuals with orthopedic injuries through innovative muscle-sensing implant technology. Phantom Neuro is a US-based neurotechnology company that encompasses neuroprosthetics.

Major companies operating in the neuroprosthetics market include Abbott Laboratories, Biomet Inc., Boston Scientific Corp., Cochlear Ltd., Demant AS, LivaNova plc, MED-EL GmbH, NDI Medical LLC, Neuropace Inc., Nevro Corp., Oticon US Inc., Retina Implant AG, Second Sight Medical Products Inc., Sonova Holding AG, St. Jude Medical Inc., Aleva Neurotherapeutics SA, Axonics Modulation Technologies Inc., Bionic Vision Technologies Pty Ltd., Blackrock Microsystems LLC, Cognixion, Cyberonics Inc., Intheon, Medtronic plc, MicroPort Scientific Corporation, NeuroKinetics Inc., NeuroMetrix Inc., Neuropath BV, Pixium Vision SA, SPR Therapeutics Inc., Synapse Biomedical Inc., Synchron Inc., Wise Srl.

North America was the largest region in the neuroprosthetics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in neuroprosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the neuroprosthetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Neuroprosthetics involves the examination of neuroprostheses and brain-machine interfaces. These devices serve as substitutes for cognitive or sensory functions impaired by disorders of the nervous system. Neuroprosthetic systems consist of a range of artificial devices or systems designed to enhance the output or input of a neural system. The primary objective of neuroprosthetics is to enable individuals with brain injuries to actively engage in daily life, thereby enhancing their overall quality of life.

The key categories of neuroprosthetics include motor neuroprosthetics, auditory neuroprosthetics (including cochlear implants), visual neuroprosthetics (such as retinal implants), and cognitive neuroprosthetics. Motor neuroprosthetics (MN) function as orthoses, involving the electrical stimulation of specific brain areas to facilitate the activities and engagement of individuals who have experienced a stroke in their natural environment. Various techniques, including spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and transcranial magnetic stimulation, are applied to address diverse disorders such as motor neuron disorders, physiological disorders, and cognitive disorders.

The neuroprosthetics market research report is one of a series of new reports that provides neuroprosthetics market statistics, including neuroprosthetics industry global market size, regional shares, competitors with a neuroprosthetics market share, detailed neuroprosthetics market segments, market trends and opportunities, and any further data you may need to thrive in the neuroprosthetics industry. This neuroprosthetics 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 neuroprosthetics market includes revenues earned by entities by peripheral nerve, brain-computer interface, electro stimulation, neurostimulation, cochlear implant, stimulation, femoral nerve and carbon nanotube. 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 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.

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