Neurotechnology Market - Global Industry Trend Analysis 2012 to 2017 and Forecast 2017 - 2025


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Neurotechnology Market: Drivers and Restraints

The growth of global neurotechnology market is primarily driven by the introduction of new technological advancement products. In addition, factors such as increasing prevalence and incidences of neurological disorders, and increasing funding and grants by both public and private bodies are also gardening the growth of neurotechnology market. For instance, according to the estimates of United Nation (UN), nearly 1 billion people are suffering from some type of neurological disorders. However, factors such as high cost of the products, complex regulatory framework, and ethical concerns such as privacy and cognitive liberty are the major obstacles to the growth of neurotechnology market.

Neurotechnology Market: Segmentation

The global neurotechnology market can be segmented on the basis of product type, end-user, and region.

On the basis of product type, global neurotechnology market can be segmented as:

  • Imaging Modalities
    • Magnetic Resonance Imaging(MRI)
    • Computed Tomography (CT)
    • Positron Emission Tomography (PET)
  • Neurostimulation
    • Transcranial Magnetic Stimulation (TMS)
    • Transcranial Direct Current Stimulation(tDCS) 
  • Cranial Surface Measurement
    • Electroencephalography(EEG)
    • Magnetoencephalography(MEG)
  • Neurological Implants

On the basis of end-user, global neurotechnology market can be segmented as:

  • Hospitals
  • Clinics
  • Diagnostic Centers
  • Ambulatory Surgical Centers

On the basis of region, global neurotechnology market can be segmented as:

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

Neurotechnology Market: Overview

Neurotechnology holds a promising future in evolving human nature when applied fundamentally. The technologies available based on neurotechnology describes the brain’s activity but requires more extensive research for full implementation of available and upcoming technologies. The adoption of neurotechnology in medical science allows researcher to connect to brain’s activity and understanding individuals’ personality and lifestyle patterns for potent diagnosis and prognosis of neurological disorders.

Neurotechnology Market: Region Wise Outlook

Geographically, global neurotechnology market can be segmented as North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The market in North America is anticipated to show the largest share for neurotechnology, followed by Europe, owing to the increasing prevalence and incidence of neurological disorders. In addition, large patient population coupled with the geriatric population and increasing research and development funding by government bodies are also driving the growth of neurotechnology market. The market in Asia-Pacific is estimated to grow at fastest CAGR during the forecast period owing to the modernization of medical and research facilities, and government are also taking initiatives by providing grants and fellowship to the researchers. However, the regions such as Latin America and Middle East and Africa show a steady growth during the forecast year owing to the scarcity of skilled professional and inadequate presence of research infrastructure.

Neurotechnology Market: Key Players

Some of the market participants in the global neurotechnology market are General Electric Company, Siemens Healthcare Private Limited, Koninklijke Philips N.V., Toshiba Medical Systems Corporation, Shimadzu Corporation, Hitachi Medical Corporation, Elekta AB, Tristan Technologies, Inc., allengers, Natus Medical Incorporated, and Magstim. The market of neurotechnology has witnessed consolidation among the key players such as collaboration, partnership, patent transfer, increasing research and development activities, product introduction, mergers and acquisition, and joint ventures among the international as well as domestic players are the distinctive trend of competition in the neurotechnology market.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

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