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December 2024
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The global neurotechnology market size is calculated at US$ 15.35 in 2024, grew to US$ 17.38 billion in 2025, and is projected to reach around US$ 53.18 billion by 2034. The market is expanding at a CAGR of 13.23% between 2025 and 2034. Neurodegeneration is a common thing in old age and requires neurotechnology for different neurological conditions. Hence, the neurotechnology market is rising with the growing geriatric population.
The market for neurotechnology is the area that deals with implementing new hardware and software technologies in clinical settings to improve our knowledge and management of neurologic conditions. To solve the issues and advance this quickly developing subject, neurosurgeons, medical experts, engineers, scientists, ethicists, and regulators work together. This includes the use of brain-machine interfaces, or BMIs. In the upcoming years, as advances in hardware and software are applied to the clinical situation, neurotechnology is expected to grow quickly.
The use of AI, particularly machine learning, in neuroscience applications is growing. Nevertheless, since AI became a recognized field of study, there have been close conceptual ties between it and neurology. Redefining the diagnosis, management, and therapy of neurological illnesses is the aim of AI in NeuroTech. Analyzing brain data, finding trends, and providing individualized therapies are made feasible by utilizing AI's capabilities. Artificial intelligence (AI) will be employed and depended upon more and more in neuromodulatory and combinatorial/bidirectional neurotech devices to evaluate neuro-data, infer and duplicate real-time neural signal proxies, and support closed-loop systems for machine control that is automated and autonomous.
The Rising Neurological Conditions
The neurotechnology market is being driven by the growth in neurological illnesses. Alzheimer's disease, Parkinson's disease, epilepsy, migraine, and other ailments that impact the central nervous system are grouped together as neurological diseases and disorders. According to estimates from the World Health Organization (WHO), over 5 million people receive an epilepsy diagnosis each year, with 80% of those individuals residing in low- and middle-income nations. Therefore, it is predicted that the ongoing rise in the prevalence of neurological conditions will have an impact on how neurotechnology is used over the projected period.
Privacy and Ethical Concerns
Collecting and analyzing extremely sensitive and private brain data is a common practice in neurotechnology. An ethical and legal dilemma is figuring out who owns and manages the data produced by neurotechnological equipment. Gaining public trust, guaranteeing responsible development, and promoting the broad adoption of neurotechnological advancements all depend on addressing these ethical and privacy issues.
Growing Neuroscience Research
Developments in neuroscience aid in the discovery and comprehension of biomarkers linked to various neurological disorders. Continued neuroscience research advances our knowledge of how the brain works. The ongoing development of novel approaches to comprehending, identifying, and treating a range of neurological disorders is fueled by the mutually beneficial link between neuroscience research and neurotechnology development. Neuroscience offers a solid basis for the development of neurotechnologies with a wide range of uses as it continues to solve the puzzles surrounding the brain.
By product type, the neurostimulation segment held the largest share of the neurotechnology market in 2024. An unprecedented number of people suffering from crippling neurologic and behavioral problems are finding relief thanks to the quick developments in neurostimulation technology. Electrical stimulation is used in both invasive and noninvasive neurostimulation therapies to promote neuronal activity inside a circuit. After being largely stagnant for the past 30 years, electrical stimulation technologies are now moving toward possible closed-loop therapeutic control systems that can deliver stimulation with higher spatial resolution to provide continuous, customized neuromodulation for the best possible clinical results.
By product type, the neuroprostheses segment is estimated to grow at the fastest rate in the neurotechnology market during the forecast period. In the context of precision medicine, neuroprostheses are a potential medical technology. Recently, neuroprosthetic devices have been put out as potential means of regaining the sensory-motor abilities that have been lost due to neurological illness or damage. Numerous advantages for users, such as enhanced naturalness of feeling, prosthesis embodiment, and home-use functionality, can be made possible by new developments.
By conditions, the pain treatment segment held the major share of the neurotechnology market in 2024. Electrical stimulation has been used to treat a growing number of pain syndromes as the therapeutic use of neuromodulation has increased. Neuromodulatory pain treatments are becoming more effective thanks to a number of significant recent technical developments. New waveform paradigms, electrode designs, enhanced stimulator capabilities, and closed-loop stimulation are some examples of these developments. Scientific research must concentrate on gaining a better knowledge of their fundamental mechanics. The use of these prospective pain-relieving technologies is probably going to grow as a result of these advancements.
By conditions, the epilepsy segment is expected to grow at the fastest CAGR in the neurotechnology market during 2025-2034. In order to gather and evaluate data that affects every facet of epilepsy diagnosis and treatment planning, new neurotechnology tools are being created. More accurate techniques for determining the epileptogenic zone are provided by cutting-edge computational techniques and sophisticated neurophysiological characterizations employing EEG and iEEG. Additionally, automated MRI methods are helping us find mild epileptogenic lesions, which can help with surgical planning and neuroradiological diagnosis.
By end-use, the hospital segment led the neurotechnology market in 2024. In hospital neurology departments, all subspecialties of neurology—stroke, headache, epilepsy, movement disorders, cognitive disorders, sleep neurology, neuroradiology, and clinical neurophysiology—are served by clinical, investigative, and therapeutic services. Comprehensive, integrated, and patient-centered care is given to patients by the department's skilled and knowledgeable staff.
By end-use, the homecare facilities segment is expected to witness the fastest growth in the neurotechnology market during the predicted time frame. Patients with neurological disorders frequently suffer from incapacitating circumstances. They may have issues with communication, movement, cognitive senses, etc. The patient's quality of life is significantly impacted by all of these. It might be quite difficult to care for these individuals at home without any professional assistance. For the greatest patient results, Neurocare at Home service enables family caregivers to delegate the caregiving responsibilities to qualified medical teams.
North America dominated the neurotechnology market share by 37% in 2024. Rapid technical breakthroughs, supporting government regulations, and the increasing frequency of CNS illnesses are some of the factors propelling the North American market. The population of North America, especially the United States and Canada, is aging significantly. In order to identify, track, and treat these disorders, there is a greater need for neurotechnology solutions. In addition, diseases including multiple sclerosis, epilepsy, stroke, and traumatic brain injuries are becoming more common in North America. In hospitals and other healthcare facilities, this fuels demand for neurodiagnostic instruments, neuromodulation equipment, and rehabilitation technology.
The number of Americans who suffer from neurodegenerative diseases, including Alzheimer's, Parkinson's, ALS, or brain tumors like glioblastoma, exceeds 7 million. Organizations in the United States are working to promote neurotechnology throughout the nation. A Silicon Valley-based Neurotechnology Powerhouse, for example, announced in April 2024 that it had launched its non-invasive iBrainTM Personal Brain Monitor in four US states on Friday. The company also sold 1.4% of its stock for over $85 million, valuing it at over $6 billion in the highest Series B financing.
The significant prevalence of neurological and brain problems, illnesses, and other health ailments that affect thousands of Canadians is acknowledged by the government of Canada. The government reaffirmed financing for the Brain Canada Foundation (Brain Canada) in May 2024 with a promise of $80 million over four years in Budget 2024. Through the Canada Brain Research Fund, Brain Canada will double this commitment, bringing the total envelope to $160 million to enhance the health and well-being of Canadians.
Asia Pacific is estimated to host the fastest-growing neurotechnology market during the forecast period due to the fact that the greatest proportion of the population suffers from neurological problems. The APAC region's elderly population is expanding quickly. As a result, neurological problems have become more common. Since APAC is a growing region, there is a greater prevalence of bad eating habits and bad practices that lead to neurological illnesses. Furthermore, the region's residents have busy lives, which is the primary cause of depression, migraines, and strokes. As a result, the number of people in this area suffering from neurological disorders is rising. Additionally, throughout the projection period, there will be possibilities to grow the market due to the significant investments made by the government and major key companies in neurotechnology research and development.
Chinese brain-machine interface companies are drawing significant investment to create implantable, high-throughput devices that adhere to strict medical device requirements. By speeding up the transition from lab research to clinical application, this financing is establishing China as a major force in an industry that is expected to experience exponential growth.
For instance,
In February 2025, the first government hospital in India to use a novel neurotechnology that offers a non-invasive substitute for brain surgery for neurological disorders, including Parkinson's disease and essential tremors, is the All India Institute of Medical Sciences (AIIMS) in Delhi.
Europe is expected to be significantly growing in the neurotechnology market during the forecast period. The market for neurotech devices in Europe is expanding rapidly due to technological improvements and growing awareness of neurological illnesses. Innovative solutions, including wearable neurotech products, neurostimulation devices, and brain-computer interfaces, are becoming more and more in demand. Growing aging populations, an increase in neurological disorders, and government programs promoting medical technology are some of the major drivers driving market development. The competitive landscape of the industry is being actively shaped by both startups and established businesses. The market is being shaped by product introductions, strategic alliances, and regulatory approvals with an emphasis on improving patient outcomes and meeting unmet medical needs.
The "German Brain Plan – Agenda 2030" was created by the German Brain Council because brain health is essential to human health. In Europe alone, neurological and mental disorders cost more than 800 billion euros a year, and 25% of the world's population suffers from one of these conditions. The annual direct expenditures of brain illnesses to the German health care system exceed 60 billion euros.
The UK government is promoting neurotechnology in a number of ways. For example, Motif Neurotech received a multi-million dollar investment from the U.K.'s Advanced Research and Invention Agency (ARIA) in February 2025 to develop therapeutic brain-computer interface (BCI) technology to treat mental and cognitive disorders. The UK announced a new Precision Neurotechnologies initiative in January 2025, which would finance projects that will investigate and unlock state-of-the-art brain-interfacing technologies with US$84.2 million over four years.
In April 2024, Antoine Pouppez, CEO and co-founder of neuroClues®, stated that the fundraising effort and the extremely encouraging clinical results from the study conducted with the Brain Institute are powerful indicators that reinforce our mission. With the development of a "stethoscope of the brain," we want to revolutionize the diagnosis and treatment of neurodegenerative disorders while drastically cutting down on the time required. This instrument will radically enhance the quality of life for patients worldwide.
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December 2024
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