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Neurotechnology Market Size, Analysis, Share & Forecast 2031
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Neurotechnology Market Size, Analysis, Share & Forecast 2031

Segments - Neurotechnology Market by Types (Neurostimulation, Neurological Implants, Imaging Modalities, Cranial Surface Measurement, and Others), End-users (Diagnostic Centers, Clinics, Hospitals, Ambulatory Surgical Centers, and Others), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Vishal Golekar

Upcoming | Report ID :HC-4328 | 4.6 Rating | 70 Reviews | 166 Pages | Format : PDF Excel PPT

Report Description


Neurotechnology Market Outlook 2031: 

The global neurotechnology market size was valued at USD 12.82 Billion in 2022 and is projected to reach USD 34.15 Billion by 2031, expanding at a CAGR of 11.5% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing prevalence of neurological disorders and continuous advancements in neurotechnology.

Neurotechnology Market Outlook

Neurotechnology refers to all technologies used to comprehend the brain, visualize its process, and improve its functions. Neurotechnology uses various techniques to record brain activities. It can aid in stimulating some parts of the brain as well. It provides great insight into the brain and nervous system.

Neurotechnology is roughly divided into three categories: neuromodulation technologies, neuroprostheses, and brain-machine interfaces. Neuromodulation technologies use neural interfaces to stimulate the nervous system and influence neural activities. Neuroprostheses work as prosthetic brain functions, which can replace or restore any motor, sensory, and cognitive functions that are lost. Brain-machine interfaces facilitate individuals to external software or hardware.

  • Growing prevalence of neurological disorders across the globe is expected to drive the global neurotechnology market during the forecast period.
  • Continuous advancements in neurotech devices and methods boost the market.
  • Rising geriatric population across the globe is estimated to fuel the growth of the market in the coming years.
  • Increasing research & development activities in neurotechnology spur the market.
  • High costs of neurotechnological products and stringent government regulations are anticipated to restrain the growth of the market during the forecast period.
  • Lack of healthcare professionals skilled in neurotechnology hampers the growth of the market.
  • Rising demand for neurotech devices to treat obesity offers growth opportunities to the market players.

Scope of the Neurotechnology Market Report

The report on the global neurotechnology market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Neurotechnology Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Neurostimulation, Neurological Implants, Imaging Modalities, Cranial Surface Measurement, and Others), and End-users (Diagnostic Centers, Clinics, Hospitals, Ambulatory Surgical Centers, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Siemens Healthineers AG; Shimadzu Corporation; General Electric Company; Koninklijke Philips N.V.; Canon Medical Systems Corporation; Toshiba Medical Systems Corporation; Elektra; Tristan Technologies, Inc.; Hitachi Medical Corporation; Natus Medical Incorporated; Magstim; OpenBCI; Allergen Medical Systems Limited; Varjo Technologies Oy; Novela Neurotechnologies, Inc.; and Others

Neurotechnology Market Segment Insights

Imaging modalities segment holds a key market share

On the basis of types, the neurotechnology market is segregated into neurostimulation, neurological implants, imaging modalities, cranial surface measurement, and others. The imaging modalities segment accounted for a large market share in 2020, and it is projected to expand at a significant rate during the forecast period. The growing geriatric population and increasing road accidents, where brain imaging is necessary to diagnose injuries, are the key factors driving the imaging modalities.

Neurotechnology Market Type

Hospitals segment expands rapidly

Based on end-users, the market is divided into diagnostic centers, clinics, hospitals, ambulatory surgical centers, and others. The hospital segment is projected to register significant growth during the forecast period, owing to the increasing adoption of neurotechnology or neurotech devices in hospitals for various treatments such as deep brain stimulation.

Neurotechnology Market End User

Asia Pacific dominates the market

In terms of regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is estimated to register a high CAGR during the forecast period, due to rising modernization in the healthcare sector and increasing government initiatives and funding for the advancement of neurotechnology in the region.

The market in North America is anticipated to expand at a significant pace during the forecast period, due to the growing prevalence of neurological disorders in the region. The increasing geriatric population and rising research & development activities in the region boost the market in North America.

Neurotechnology Market Region

Segments

The global neurotechnology market has been segmented on the basis of

Types

  • Neurostimulation
  • Neurological Implants
  • Imaging Modalities
  • Cranial Surface Measurement
  • Others

End-users

  • Diagnostic Centers
  • Clinics
  • Hospitals
  • Ambulatory Surgical Centers
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Siemens Healthineers AG
  • Shimadzu Corporation
  • General Electric Company
  • Koninklijke Philips N.V.
  • Canon Medical Systems Corporation
  • Toshiba Medical Systems Corporation
  • Elektra
  • Tristan Technologies, Inc.
  • Hitachi Medical Corporation
  • Natus Medical Incorporated
  • Magstim
  • OpenBCI
  • Allergen Medical Systems Limited
  • Varjo Technologies Oy
  • Novela Neurotechnologies, Inc.
  • Others

Competitive Landscape

The global neurotechnology market is competitive with the presence of key players such as Siemens Healthineers AG; Shimadzu Corporation; General Electric Company; Koninklijke Philips N.V.; Canon Medical Systems Corporation; Toshiba Medical Systems Corporation; Elektra; Tristan Technologies, Inc.; Hitachi Medical Corporation; Natus Medical Incorporated; Magstim; OpenBCI; Allergen Medical Systems Limited; Varjo Technologies Oy; Novela Neurotechnologies, Inc.; and others, who use strategies such as mergers, partnerships, acquisitions, collaborations, and product launches to strengthen their hold on the market.

For example, in May 2022, OpenBCI announced a partnership with Varjo Technologies Oy to launch a hardware and software platform, Galea, which simultaneously collects data from the heart, skin, eyes, muscles, and brain of users.

In June 2022, Novela Neurotechnologies, Inc. acquired the complete intellectual property portfolio of Brain Sentinel, Inc., which places the company in a prominent position in epilepsy care.

Neurotechnology Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Neurotechnology Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Neurotechnology Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Neurotechnology Market - Supply Chain
  4.5. Global Neurotechnology Market Forecast
     4.5.1. Neurotechnology Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Neurotechnology Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Neurotechnology Market Absolute $ Opportunity
5. Global Neurotechnology Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Neurotechnology Market Size and Volume Forecast by Types
     5.3.1. Neurostimulation
     5.3.2. Neurological Implants
     5.3.3. Imaging Modalities
     5.3.4. Cranial Surface Measurement
     5.3.5. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Neurotechnology Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Neurotechnology Market Size and Volume Forecast by End Users
     6.3.1. Diagnostic Centers
     6.3.2. Clinics
     6.3.3. Hospitals
     6.3.4. Ambulatory Surgical Centers
     6.3.5. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Neurotechnology Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Neurotechnology Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Neurotechnology Demand Share Forecast, 2019-2026
8. North America Neurotechnology Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Neurotechnology Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Neurotechnology Market Size and Volume Forecast by Types
     8.4.1. Neurostimulation
     8.4.2. Neurological Implants
     8.4.3. Imaging Modalities
     8.4.4. Cranial Surface Measurement
     8.4.5. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Neurotechnology Market Size and Volume Forecast by End Users
     8.7.1. Diagnostic Centers
     8.7.2. Clinics
     8.7.3. Hospitals
     8.7.4. Ambulatory Surgical Centers
     8.7.5. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Neurotechnology Demand Share Forecast, 2019-2026
9. Latin America Neurotechnology Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Neurotechnology Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Neurotechnology Market Size and Volume Forecast by Types
     9.4.1. Neurostimulation
     9.4.2. Neurological Implants
     9.4.3. Imaging Modalities
     9.4.4. Cranial Surface Measurement
     9.4.5. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Neurotechnology Market Size and Volume Forecast by End Users
     9.7.1. Diagnostic Centers
     9.7.2. Clinics
     9.7.3. Hospitals
     9.7.4. Ambulatory Surgical Centers
     9.7.5. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Neurotechnology Demand Share Forecast, 2019-2026
10. Europe Neurotechnology Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Neurotechnology Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Neurotechnology Market Size and Volume Forecast by Types
     10.4.1. Neurostimulation
     10.4.2. Neurological Implants
     10.4.3. Imaging Modalities
     10.4.4. Cranial Surface Measurement
     10.4.5. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Neurotechnology Market Size and Volume Forecast by End Users
     10.7.1. Diagnostic Centers
     10.7.2. Clinics
     10.7.3. Hospitals
     10.7.4. Ambulatory Surgical Centers
     10.7.5. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Neurotechnology Demand Share Forecast, 2019-2026
11. Asia Pacific Neurotechnology Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Neurotechnology Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Neurotechnology Market Size and Volume Forecast by Types
     11.4.1. Neurostimulation
     11.4.2. Neurological Implants
     11.4.3. Imaging Modalities
     11.4.4. Cranial Surface Measurement
     11.4.5. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Neurotechnology Market Size and Volume Forecast by End Users
     11.7.1. Diagnostic Centers
     11.7.2. Clinics
     11.7.3. Hospitals
     11.7.4. Ambulatory Surgical Centers
     11.7.5. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Neurotechnology Demand Share Forecast, 2019-2026
12. Middle East & Africa Neurotechnology Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Neurotechnology Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Neurotechnology Market Size and Volume Forecast by Types
     12.4.1. Neurostimulation
     12.4.2. Neurological Implants
     12.4.3. Imaging Modalities
     12.4.4. Cranial Surface Measurement
     12.4.5. Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Neurotechnology Market Size and Volume Forecast by End Users
     12.7.1. Diagnostic Centers
     12.7.2. Clinics
     12.7.3. Hospitals
     12.7.4. Ambulatory Surgical Centers
     12.7.5. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Neurotechnology Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Neurotechnology Market: Market Share Analysis
  13.2. Neurotechnology Distributors and Customers
  13.3. Neurotechnology Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Siemens Healthineers AG
     13.4.2. Shimadzu Corporation
     13.4.3. General Electric Company
     13.4.4. Koninklijke Philips N.V.
     13.4.5. Canon Medical Systems Corporation
     13.4.6. Toshiba Medical Systems Corporation
     13.4.7. Elektra
     13.4.8. Tristan Technologies, Inc.
     13.4.9. Hitachi Medical Corporation
     13.4.10. Natus Medical Incorporated

Methodology

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