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US Neurotechnology Market Research Report Forecast to 2040
Market Report I 2024-02-10 I 91 Pages I Market Research Future
US Neurotechnology Market Research Report Forecast to 2040
Market Overview
Neurotechnology is a broad term that encompasses any technology that interfaces with the nervous system to monitor or modulate neural activity. This can be done for a variety of purposes, including research, diagnosis & treatment, and enhancement. Furthermore, neurotechnologies can be invasive or non-invasive. Invasive neurotechnologies require the implantation of electrodes or other devices into the brain or nervous system. Non-invasive neurotechnologies do not require implantation, such as electroencephalography (EEG) and functional magnetic resonance imaging (fMRI).
The US neurotechnology market is predicted to expand due to growing incidence of neurological disorders and increasing number of geriatric populations, and rapid advancements in technology, However, cost of development and implementation are limiting market expansion. Personalized medicine, on the other hand, boosts the market's attractiveness. Another aspect driving market expansion is the increasing government investment in healthcare infrastructures.
Market Segmentation
Based on the technology, the market has been segmented into neurosensing, neurostimulation, neuroprosthese and neurorehabilitation.
Based on the indication, the market has been segmented into cognitive disorders, pain treatment, epilepsy, Parkinson's disease, depression, and others.
Based on test type, US neurotechnology market has been segmented into hospitals & clinics, ambulatory surgical centers, academic & research laboratories, specialty clinics, and homecare.
Major Players
The key market players in the US Neurotechnology market are Medtronic, Boston Scientific Corporation, Abbott Laboratories, Inc., Cochlear Ltd., Shimadzu Corporation, and Neuronetics
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 14
2 MARKET INTRODUCTION 16
2.1 DEFINITION 16
2.2 SCOPE OF THE STUDY 16
2.3 RESEARCH OBJECTIVE 16
2.4 MARKET STRUCTURE 17
3 RESEARCH METHODOLOGY 18
3.1 OVERVIEW 18
3.2 DATA FLOW 21
3.2.1 Data Mining Process 21
3.3 PURCHASED DATABASE: 22
3.4 SECONDARY SOURCES: 23
3.4.1 Secondary Research data flow: 24
3.5 PRIMARY RESEARCH: 25
3.5.1 Primary Research DATA FLOW: 26
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: 27
3.6.1 Revenue Analysis Approach 27
3.7 DATA FORECASTING 28
3.7.1 Data forecasting Technique 28
3.8 DATA MODELING 29
3.8.1 microeconomic factor analysis: 29
3.8.2 Data modeling: 30
3.9 TEAMS AND ANALYST CONTRIBUTION 32
4 MARKET DYNAMICS 34
4.1 INTRODUCTION 34
4.2 DRIVERS 35
4.2.1 Growing Incidence of Neurological Disorders 35
4.2.2 increasing number of geriatric population 35
4.2.3 Rapid advancements in technology 36
4.3 RESTRAINTS 37
4.3.1 Cost of Development and Implementation 37
4.4 OPPORTUNITY 39
4.4.1 Personalized Medicine creating promising opportunity for neurotechnology Market 39
5 MARKET FACTOR ANALYSIS 40
5.1 VALUE CHAIN ANALYSIS 40
5.1.1 R&D 41
5.1.2 Manufacturing 41
5.1.3 Distribution And Sales 41
5.1.4 Post-Sales Monitoring 42
5.2 PORTER'S FIVE FORCES MODEL 43
5.2.1 Threat of New Entrants 43
5.2.2 Bargaining Power of Suppliers 44
5.2.3 Threat of Substitutes 44
5.2.4 Bargaining Power of Buyers 44
5.2.5 Intensity of Rivalry 44
5.3 IMPACT OF COVID-19 ON THE US NEUROTECHNOLOGY MARKET 45
5.3.1 impact on supply chain 45
5.3.2 IMPACT ON KEY PLAYERS 45
6 US NEUROTECHNOLOGY MARKET, BY TECHNOLOGY 47
6.1 OVERVIEW 47
7 US NEUROTECHNOLOGY MARKET, BY INDICATION 49
7.1 OVERVIEW 49
8 US NEUROTECHNOLOGY MARKET, BY END USER 51
8.1 OVERVIEW 51
9 COMPETITIVE LANDSCAPE 54
9.1 INTRODUCTION 54
9.2 MARKET SHARE ANALYSIS, 2022 54
9.3 COMPETITOR DASHBOARD 55
9.4 PUBLIC PLAYERS STOCK SUMMARY 56
9.5 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL 56
9.6 KEY DEVELOPMENTS & GROWTH STRATEGIES 57
9.6.1 PRODUCT LAUNCH/PRODUCT APPROVAL 57
9.6.2 Partnership/Investment/Collaboration 58
10 COMPANY PROFILES 59
10.1 MEDTRONIC 59
10.1.1 COMPANY OVERVIEW 59
10.1.2 FINANCIAL OVERVIEW 60
10.1.3 PRODUCTS OFFERED 60
10.1.4 KEY DEVELOPMENTS 61
10.1.5 SWOT ANALYSIS 61
10.1.6 KEY STRATEGIES 62
10.2 BOSTON SCIENTIFIC CORPORATION 63
10.2.1 COMPANY OVERVIEW 63
10.2.2 FINANCIAL OVERVIEW 64
10.2.3 PRODUCTS OFFERED 65
10.2.4 KEY DEVELOPMENTS 65
10.2.5 SWOT ANALYSIS 66
10.2.6 KEY STRATEGIES 66
10.3 NEURONETICS 67
10.3.1 COMPANY OVERVIEW 67
10.3.2 FINANCIAL OVERVIEW 68
10.3.3 PRODUCTS OFFERED 68
10.3.4 KEY DEVELOPMENTS 68
10.3.5 KEY STRATEGIES 69
10.4 MINDMAZE 70
10.4.1 COMPANY OVERVIEW 70
10.4.2 FINANCIAL OVERVIEW 70
10.4.3 Products OFFERed 70
10.4.4 KEY DEVELOPMENTS 71
10.4.5 Key Strategy 71
10.5 SHIMADZU CORPORATION 72
10.5.1 COMPANY OVERVIEW 72
10.5.2 FINANCIAL OVERVIEW 73
10.5.3 Products OFFERed 73
10.5.4 KEY DEVELOPMENTS 73
10.5.5 SWOT ANALYSIS 74
10.5.6 Key Strategy 74
10.6 ABBOTT LABORATORIES, INC. 75
10.6.1 COMPANY OVERVIEW 75
10.6.2 FINANCIAL OVERVIEW 76
10.6.3 PRODUCTS OFFERED 77
10.6.4 KEY DEVELOPMENTS 77
10.6.5 KEY DEVELOPMENTS 77
10.6.6 SWOT ANALYSIS 78
10.6.7 KEY STRATEGIES 78
10.7 COCHLEAR LTD. 79
10.7.1 COMPANY OVERVIEW 79
10.7.2 FINANCIAL OVERVIEW 80
10.7.3 PRODUCTS OFFERED 81
10.7.4 Key developments 81
10.7.5 SWOT ANALYSIS 82
10.7.6 KEY STRATEGIES 82
10.8 SYNCHRON 83
10.8.1 COMPANY OVERVIEW 83
10.8.2 FINANCIAL OVERVIEW 84
10.8.3 PRODUCTS OFFERED 84
10.8.4 KEY DEVELOPMENTS 84
10.8.5 KEY STRATEGIES 84
10.9 NEOFECT 85
10.9.1 COMPANY OVERVIEW 85
10.9.2 FINANCIAL OVERVIEW 85
10.9.3 PRODUCTS OFFERED 86
10.9.4 KEY DEVELOPMENTS 86
10.9.5 KEY STRATEGIES 86
10.10 REHABTRONICS INC 87
10.10.1 COMPANY OVERVIEW 87
10.10.2 INANCIAL OVERVIEW 87
10.10.3 PRODUCTS OFFERED 88
10.10.4 KEY DEVELOPMENTS 88
10.10.5 KEY STRATEGIES 88
11 DATA CITATIONS 89
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LIST OF TABLES
TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 30
TABLE 2 US NEUROTECHNOLOGY MARKET, BY TECHNOLOGY, 2019-2040 (USD MILLION) 48
TABLE 3 US NEUROTECHNOLOGY MARKET, BY INDICATION, 2019-2040 (USD MILLION) 50
TABLE 4 US NEUROTECHNOLOGY MARKET, BY END USER, 2019-2040 (USD MILLION) 52
TABLE 5 PUBLIC PLAYERS STOCK SUMMARY 56
TABLE 6 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL 56
TABLE 7 PRODUCT LAUNCH/PRODUCT APPROVAL 57
TABLE 8 PARTNERSHIP/INVESTMENT/COLLABORATION 58
TABLE 9 MEDTRONIC: PRODUCTS OFFERED 60
TABLE 10 MEDTRONIC: KEY DEVELOPMENTS 61
TABLE 11 BOSTON SCIENTIFIC CORPORATION: PRODUCTS OFFERED 65
TABLE 12 BOSTON SCIENTIFIC CORPORATION: KEY DEVELOPMENTS 65
TABLE 13 NEURONETICS: PRODCUTS OFFERED 68
TABLE 14 MINDMAZE: PRODCUTS OFFERED 70
TABLE 15 MINDMAZE: KEY DEVELOPMENTS 71
TABLE 16 SHIMADZU CORPORATION: PRODUCTS OFFERED 73
TABLE 17 ABBOTT LABORATORIES, INC. : PRODUCTS OFFERED 77
TABLE 18 ABBOTT LABORATORIES, INC.: KEY DEVELOPMENTS 77
TABLE 19 COCHLEAR LTD.: PRODUCTS OFFERED 81
TABLE 20 COCHLEAR LTD.: KEY DEVELOPMENTS 81
TABLE 21 SYNCHRON: PRODUCTS OFFERED 84
TABLE 22 SYNCHRON: KEY DEVELOPMENTS 84
TABLE 23 NEOFECT: PRODCUTS OFFERED 86
TABLE 24 REHABTRONICS INC: PRODCUTS OFFERED 88
TABLE 25 REHABTRONICS INC: KEY DEVELOPMENTS 88
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LIST OF FIGURES
FIGURE 1 US NEUROTECHNOLOGY MARKET: STRUCTURE 17
FIGURE 2 US NEUROTECHNOLOGY MARKET: MARKET GROWTH FACTOR ANALYSIS (2022-2032) 34
FIGURE 3 DRIVER IMPACT ANALYSIS (2023-2040) 37
FIGURE 4 RESTRAINT IMPACT ANALYSIS (2022-2040) 38
FIGURE 5 VALUE CHAIN ANALYSIS OF THE US NEUROTECHNOLOGY MARKET 40
FIGURE 6 PORTER'S FIVE FORCES ANALYSIS: US NEUROTECHNOLOGY MARKET 43
FIGURE 7 US NEUROTECHNOLOGY MARKET, TECHNOLOGY SEGMENT ATTRACTIVENESS, 2022 & 2040 (USD MILLION) 47
FIGURE 8 US NEUROTECHNOLOGY MARKET, BY TECHNOLOGY, 2022 & 2040 (USD MILLION) 47
FIGURE 9 US NEUROTECHNOLOGY MARKET SHARE (%), BY TECHNOLOGY, 2022 48
FIGURE 10 US NEUROTECHNOLOGY MARKET, INDICATION SEGMENT ATTRACTIVENESS, 2022 & 2040 (USD MILLION) 49
FIGURE 11 US NEUROTECHNOLOGY MARKET, BY INDICATION, 2022 & 2040 (USD MILLION) 50
FIGURE 12 US NEUROTECHNOLOGY MARKET SHARE (%), BY INDICATION, 2022 50
FIGURE 13 US NEUROTECHNOLOGY MARKET, END USER SEGMENT ATTRACTIVENESS, 2022 & 2040 (USD MILLION) 51
FIGURE 14 US NEUROTECHNOLOGY MARKET, BY END USER, 2022 & 2040 (USD MILLION) 52
FIGURE 15 US NEUROTECHNOLOGY MARKET SHARE (%), BY END USER, 2022 52
FIGURE 16 US NEUROTECHNOLOGY MARKET PLAYERS: COMPETITIVE ANALYSIS, 2022 54
FIGURE 17 COMPETITOR DASHBOARD: US NEUROTECHNOLOGY MARKET 55
FIGURE 18 MEDTRONIC: FINANCIAL OVERVIEW SNAPSHOT 60
FIGURE 19 MEDTRONIC: SWOT ANALYSIS 61
FIGURE 20 BOSTON SCIENTIFIC CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 64
FIGURE 21 BOSTON SCIENTIFIC CORPORATION: SWOT ANALYSIS 66
FIGURE 22 NEURONETICS: FINANCIAL OVERVIEW SNAPSHOT 68
FIGURE 23 SHIMADZU CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 73
FIGURE 24 SHIMADZU CORPORATION: SWOT ANALYSIS 74
FIGURE 25 ABBOTT LABORATORIES, INC.: FINANCIAL OVERVIEW SNAPSHOT 76
FIGURE 26 ABBOTT LABORATORIES, INC. : SWOT ANALYSIS 78
FIGURE 27 COCHLEAR LTD.: FINANCIAL OVERVIEW SNAPSHOT 80
FIGURE 28 COCHLEAR LTD.: SWOT ANALYSIS 82
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