March 1, 2018 | A newly published market research report from Neurotech Reports, the publisher of the Neurotech Business Report newsletter, predicts that the global market for neurotechnology products will be $8.4 billion in 2018 and grow to $13.3 billion by 2022, a 12 percent compound annual growth rate. The report, titled The Market for Neurotechnology: 2018-2022, tracks U.S. and worldwide sales of neurotechnology products in four major categories: neuromodulation, neuroprosthetics, neurorehabilitation, and neurosensing. Neurotech Reports has been tracking the growth of the neurotechnology market since 2001, longer than any other research firm in this space.
The largest segment of the global neurotechnology market is neuromodulation systems, which will grow from $4.7 billion in 2018 to $7.6 billion in 2022. Worldwide sales of neuroprosthetics systems will grow from $2.1 billion in 2018 to $3.3 billion in 2022, according to the report.
For the first time, Neurotech Reports projects that Medtronic is no longer the market leader in sales of spinal cord stimulation systems. Abbott, which acquired St. Jude Medical last year, will have the largest share of the crowded SCS market in 2018, with Boston Scientific, Medtronic, and Nevro close behind. Medtronic will retain its leadership in the market for deep-brain stimulation systems, but steadily lose market share to new players by 2020.
Other product categories covered in the report include sacral nerve stimulation systems for treatment of bowel and bladder disoders, transcranial magnetic stimulation systems for treatment of depression, robotic exoskeletons, stroke rehabilitation devices, vagus nerve stimulation systems, and brain analysis systems. A unique feature of the report is a comprehensive listing of venture capital funding of neurotechnology startups dating back to 2001. The report also includes a device-disorder matrix, which identifies which neurotech therapies are used to treat which neurological disorders, and the regulatory status of each. The report is more than 400 pages in length and includes numerous charts, graphs, and tables.
The Market for Neurotechnology: 2018-2020 is available from Neurotech Reports for $2495 (single reader), $3295 (2-5 readers), or $4595 (6-10 readers). The report is available to premium subscribers of Neurotech Business Report at no additional charge. To order, contact Neurotech Reports at 415 546 1259.
