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Neurotech Devices Market - By Product Type (Neurostimulation, Neuroprostheses, Neurosensing, Neurorehabilitation), Conditions (Epilepsy, Parkinsons Disease, Cognitive Disorder), End-use (Hospital, ASC, Homecare Facility)- Global Forecast, 2023-2032

  • Report ID: GMI4559
  • Published Date: Nov 2023
  • Report Format: PDF

Neurotech Devices Market Size

Neurotech Devices Market size was valued at USD 12.1 billion in 2022 and is estimated to reach USD 42.1 billion by 2032.

Neurotech Devices Market

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Neurotech devices are type of devices that can directly monitor and/or stimulate the nervous system. These devices are mainly used for research purposes including brain imaging and brain implants to gather information regarding mental conditions. Surging incidence of neurological diseases worldwide is anticipated to foster the market demand for neurotech devices over the analysis timeframe. For instance, according to Parkinson’s Foundation data, more than 10 million people globally are living with Parkinson’s disease (PD).

Technological advancements in the field of neurotech devices and brain implants is anticipated to drive the market expansion. These advancements include robot-assisted implantation, multi-target stimulation, rechargeable implantable pulse generators, improved microelectrode designs, and personalized directed programming. Owing to these developments, neurotech devices are showing improved efficacy and symptomatic relief in patients suffering from Parkinson’s, as compared to the traditional methods.

COVID-19 Impact

The adoption of neurotech devices had slowed down in the early phase of pandemic. COVID-19 disrupted the neurotech devices market, leading to supply chain disruptions, component shortages, and production delays. Furthermore, decreased number of non-essential medical procedures, economic uncertainty, and budget constraints in healthcare institutions resulted in decreased demand for neurotech device. Moreover, the shift to remote healthcare services and regulatory agency delays added to the market growth challenges

Neurotech Devices Market Trends

Surging number of elderly population base suffering with neurological disorders will positively impact the industry development. The neurological disorders such as Alzheimer’s, dementia, Parkinson’s disease coupled with chronic back and limb pain are most likely to affect people post 65 years of age. In such conditions using neurotech devices therapies play a pivotal role in treating such conditions.

  • Alzheimer's disease is one of the most common neurological disorders among the elderly. According to the Alzheimer's Association in the U.S., an estimated 6.7 million Americans aged 65 years and older are presently living with Alzheimer's, and this number was projected to rise significantly in the coming years.
  • As the elderly population base expands, there is a greater need for neurotech devices for both diagnosis and treatment.

Neurotech Devices Market Analysis

 Neurotech Devices Market Size, By Product Type, 2021 - 2032 (USD Billion)

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The market by product type is categorized into neurostimulation, neuroprostheses, neurosensing, and neurorehabilitation. Neurostimulation segment includes deep brain, gastric, spinal cord, sacral, vagus nerve stimulators, along with transcutaneous electrical nerve stimulation (TENS), and other neurostimulation devices. The neurostimulation segment garnered USD 8.3 billion revenue size in the year 2022.

  • The dominance of the segment is attributed to growing R&D activities to develop advanced nerve stimulators coupled with launch of better and innovative devices for the treatment of neurological disorders are few aspects propelling the business expansion.
  • Additionally, minimally invasive procedures, reduced opioid use, limited or no side effects, alternative to oral medication and cost-effective pain relief are some of the other important advantages of spinal cord stimulation is further projected to augment the market.
Neurotech Devices Market, By Condition (2022)

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Based on condition, the neurotech devices market is segmented into pain management, cognitive disorders, epilepsy, urinary and fecal incontinence, hearing conditions, Parkinson’s disease, depression, sleep disorders, which was worth USD 22.5 billion in 2022, essential tremor, and other conditions. The Parkinson’s disease segment held considerable revenue share in the market and accounted for over 5.9% business share in the year 2022.

  • Rising number of individuals suffering with the Parkinson’s has accelerated the market demand.
  • Further, neurotech devices in Parkinson's disease demonstrate the potential to enhance the quality of life and improve the management of symptoms for individuals living with this condition.

The neurotech devices market by end-use is categorized into hospitals, ambulatory surgical centers, homecare facilities, and others. The hospital segment garnered USD 4.8 billion revenue size in the year 2022.

  • Increasing number of hospital admissions worldwide along with favorable reimbursement policies for procedures performed in hospitals settings is one of the leading factors contributing to the growth of the market.
  • Moreover, hospitals are equipped with a variety of advanced equipment to facilitate minimally invasive neurological treatments for better patient management as well as care. Similarly, hospitals provide efficient, safe, and quick treatments for better patient outcomes as compared to other homecare facilities that will further contribute to the segment expansion.
U.S. Neurotech Devices Market Size, 2020 -2032 (USD Billion)

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U.S. neurotech devices market accounted for USD 6.1 billion revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline.


  • The U.S. has taken a commanding position in the market, primarily due to increasing prevalence of neurological diseases.
  • Original equipment manufacturers (OEMs) have been driven to develop cost-effective devices for the treatment of neurological disorders due to the growing strain of Parkinson's disease on the U.S. healthcare system.
  • Additionally, favorable regulatory scenario for medical modalities for superior patient care and improving healthcare infrastructure will positively drive the overall business landscape.

Neurotech Devices Market Share

The neurotech devices industry is consolidated, with key players such as Medtronic plc, Abbott Laboratories, and few others dominating the market space. These companies focus on ongoing product innovation, geographical expansion, and partnerships to secure substantial market share. For instance, Abbott’s Infinity deep brain stimulator (DBS) devices is the world's first and only DBS system operating on an iOS software platform with Bluetooth wireless technology. Therefore, introduction of such products helps the company in strengthening its product portfolio coupled with sustaining its market position.

Some of the eminent market participants operating in the neurotech devices industry include:

  • Abbott Laboratories
  • Advanced Bionics AG (Sonova)
  • Boston Scientific Corporation
  • BrainCo, Inc
  • Cochlear Limited
  • Control Bionics, Inc
  • LivaNova PLC
  • Medtronic plc
  • Nihon Kohden Corporation
  • Natus medical Incorporated
  • Integra LifeSciences
  • Blackrock Microsystems
  • NeuroSigma, Inc.
  • NeuroVigil Inc.
  • Neuralink Corp.

Neurotech Devices Industry News:

  • In August 2022, FDA approved Abbott Laboratories new spinal cord stimulation device, Proclaim Plus. This allowed the company to expand its neurotech devices sales in the U.S. whilst also sustaining its market position.
  • In June 2021, Nihon Kohden America, launched NK Network Care Service Program to help monitor, maintain, and secure network systems across Nihon Kohden software and hardware including neurology equipment. This helped the company to maximize and strengthen the company’s hospital and health system network.

 Neurotech devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Product Type, 2018-2032 (USD Million)

  • Neurostimulation
    • Deep brain stimulator
    • Gastric electric stimulator
    • Spinal cord stimulator
    • Sacral nerve stimulator
    • Vagus nerve stimulator
    • Transcutaneous electrical nerve stimulation (TENS)
    • Other neurostimulations
  • Neuroprostheses
  • Neurosensing
  • Neurorehabilitation devices

By Conditions, 2018-2032 (USD Million)

  • Pain management
  • Cognitive disorders
  • Epilepsy
  • Urinary and fecal incontinence
  • Hearing conditions
  • Parkinson’s disease
  • Depression
  • Sleep disorders
  • Essential tremor
  • Other conditions

By End-use, 2018-2032 (USD Million)

  • Hospitals
  • Ambulatory surgical centers
  • Homecare facilities
  • Other end-users

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of Middle East & Africa


Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

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Neurotech Devices Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 241
  • Countries covered: 22
  • Pages: 195
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