Global Neuroprosthetics Market By Type (Motor Prosthetics, Auditory Prosthetics/Cochlear Implants, Cognitive Prosthetics, Visual Prosthetics/Retinal Implants), Technique (Deep Brain Stimulation, Vagus Nerve Stimulation, Spinal Cord Stimulation and Sacral Nerve Stimulation), Application (Motor Neuron Disorders, Physiological Disorders, Cognitive Disorders), End User (Hospitals, Clinics), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026
Market Analysis: Global Neuroprosthetics Market
Global Neuroprosthetics Market is expected to rise from its initial estimated value of USD 10.3 billion in 2018 to an estimated value of USD 33.3 billion by 2026, registering a CAGR of 15.8% in the forecast period of 2019-2026. The technical advancement is the main factor to rise in the market.
Market Definition: Global Neuroprosthetics Market
Neuroprosthetic devices are bio medically engineered devices to be linked to the peripheral or central nervous system to enhance the cognitive, motor or sensory abilities. It detects electrical activity in the motor cortex of the brain. The electrical signals transmitted to series of computer.
- Increasing prevalence of neurological disorders
- Rising geriatric population
- Increasing awareness among people
- Involvement of government support
- Demand for cost-effective and technologically advanced implants
- Issues related to reimbursement schemes
- High cost of neuroprosthetics devices
- High procedure cost
Segmentation: Global Neuroprosthetics Market
- Motor Prosthetics
- Auditory Prosthetics/Cochlear Implants
- Cognitive Prosthetics
- Visual Prosthetics/Retinal Implants
- Deep Brain Stimulation
- Vagus Nerve Stimulation
- Spinal Cord Stimulation
- Sacral Nerve Stimulation
- Motor Neuron Disorders
- Parkinson’s disease
- Physiological Disorders
- Auditory Processing Disorders
- Ophthalmic Disorders
- Cardiovascular Disorders
- Kidney Diseases
- Cognitive Disorders
- Alzheimer’s disease
- Severe depression
By End- User
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In January 2019, CBinsights plublished a list of 21 new startups which are investing in Neuroprosthetics device market. These startups are capturing the market with innovative devices formed for Neuroprosthetics process.
- In October 2018, the miniaturized electronic platform has been developed by scientist. The platform will stimulate and records the peripheral nerve fibers on a chip.
Competitive Analysis: Global Neuroprosthetics Market
Global neuroprosthetics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of neuroprosthetics market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Neuroprosthetics Market
Few of the major competitors currently working in the global neuroprosthetics market are Boston Scientific Corporation, Zimmer Biomet,., Cochlear Ltd, Medtronic, NDI Medical, LLC, NeuroPace, Inc., Nevro Corp, Retina Implant AG, Abbott.,Sonova, SensArs, CorTec GmbH, Neuro Device Group S.A, LivaNova PLC, MED-EL, Second Sight and few among others
Research Methodology: Global Neuroprosthetics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global neuroprosthetics market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)