Neuroprosthetics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

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Report Code: ZMR-2849 | Report Format : | Status : Upcoming |


Global Neuroprosthetics Market: Overview

Neuroprosthetics have added a remarkable impetus to the healthcare sector recently, due to the booming and successful realization of its immense potential as a substitution technique for missing or injured motor, cognitive or sensory functions. Neuroprosthetic equipment can supplant or develop the central nervous system, when embedded in the body, to stimulate body organ function that was earlier incomplete owing to injury or disease.

Global Neuroprosthetics Market: Growth Factors

The growing patient count for neurological syndrome in the world is the most important growth driver for the global neuroprosthetics market. An increasing number of patients that are affected by various disorders, for instance, Parkinson’s disease fuels the growth of the market. The growing aged population has a strong effect on the neuroprosthetics market will likely to continue to be a driving power for technological implementations and developments in the coming future. The global neuroprosthetics market is also driven by other different aspects such as growing awareness and accessibility of treatments all over the world, improved reimbursement policies, enhancing government support, and growing awareness as well as several initiatives taken by private and public bodies. The global neuroprosthetics market is restrained by the limited reimbursement proposals along with the high method cost which helps to reach out to a large patient demographic.

Global Neuroprosthetics Market: Segmentation

In terms of input neural prosthetics, the cochlear implants division is projected to dominate and lead the global neuroprosthetics market. In terms of input, neural prosthetics is sub-divided into bionic eye/retinal implants and cochlear implants. The cochlear implants division is likely to contribute a maximum market share. This development can be accredited to the rising number of inhabitants who are suffering from hearing issues which is expected to drive this division.

In terms of technique, the spinal cord stimulation division is projected to lead the market. In terms of technique, the neuroprosthetics market is fragmented into deep brain stimulation, spinal cord stimulation, transcranial magnetic stimulation, vagus nerve stimulation, and sacral nerve stimulation. The spinal cord stimulation division is anticipated to hold the highest market share in the global neuroprosthetics market. The expansion is mostly accredited to the growing number of inhabitants who are suffering from ischemia, back surgery syndrome, and chronic pain across the world.

Global Neuroprosthetics Market: Regional Analysis

The expansion of the global neuroprosthetics market in Europe is mainly attributed to the growing burden of the chronic neurological syndrome. In developed European countries, the growth of the global neuroprosthetics market is projected to remain stable, while, faster expansion is anticipated particularly in the new European Union states owing to substantial funding and advancement in healthcare facilities. Italy, Germany, France, the U.K., and the Netherlands are likely to be the largest markets in the European region for the global neuroprosthetics market. Other regions such as the Asia Pacific and North America are also anticipated to contribute a good market share in the coming years.

Global Neuroprosthetics Market: Competitive Players

Some of the most important market players in the global neuroprosthetics market are LivaNova, Boston Scientific, Abbott, Medtronic, Second Sight., and Cochlear, among others.

Global Neuroprosthetics Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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