Global Neuroprosthetics Market Size and Forecast To 2025
Global Neuroprosthetics Market Analysis
According to Verified Market Intelligence, The global Neuroprosthetics market was valued at USD 5.26 billion in 2016 and is projected to reach USD 15.01 billion by 2025, growing at a CAGR of 12.36% from 2017 to 2025.
What is Neuroprosthetics?
Neuroprosthetics is defined as a biomedical engineered device that is designed to be linked to the peripheral or central nervous system of disabled patients suffering from any neurological injuries or diseases. It helps in enhancing the cognitive, motor, or sensory abilities of the patients. It is a brain-computer interface device which helps in detecting and translating neural activity into command sequences for prostheses. The primary aim of neuroprosthetics is to help in restoring functionality in patients suffering from loss of motor control such as spinal cord injury, multiple sclerosis, amyotrophic lateral sclerosis, and stroke.
Global Neuroprosthetics Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Factors such as increasing number patients of neurological disorders, rising number accidents & injuries, growing prevalence of diseases and increasing cases of hearing loss have been driving the global neuroprosthetics market. On the other hand, high cost of devices, uncertainty of reimbursements and lacking professionals might hinder the overall market at a global level.
Verified Market Intelligence narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Neuroprosthetics Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Neuroprosthetics Market Competitive Landscape
The “Global Neuroprosthetics Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Boston Scientific Corporation, Cochlear Limited, Medtronic, Inc., Cyberonics, Inc., NDI Medical LLC, NeuroPace, Inc., Nervo Corp., Retina Implant AG, St. Jude Medical, and Sonova Group.. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Neuroprosthetics Market Segmentation, by Technique
• Spinal Cord Stimulation
• Deep Brain Stimulation
• Vagus Nerve Stimulation
• Sacral Nerve Stimulation
• Transcranial Magnetic Stimulation
Global Neuroprosthetics Market Segmentation, by Source
• Output Neural Prosthetics
o Motor Prosthetics
o Cognitive Prosthetics
• Input Neural Prosthetics
o Cochlear Implants
o Bionic Eye/Retinal Implants
Global Neuroprosthetics Market Segmentation, by Application
• Motor Neuron Disorders
o Parkinson’s Disease
• Physiological Disorders
o Auditory Processing Disorders
o Ophthalmic Disorders
o Cardiovascular Disorders
o Urology Disorders
• Cognitive Disorders
o Alzheimer’s Disease
Global Neuroprosthetics Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
Research Methodology of Verified Market Intelligence:
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