According to a new market report published by Lucintel, the future of the neuroprosthetic market looks promising with opportunities in the parkinson’s disease, epilepsy, Alzheimer’s disease, and other physiological disorders. The neuroprosthetic market is expected to grow with a CAGR of 12% from 2019 to 2024. The major growth drivers for this market are increasing number of patients suffering from neurological disorders and nerve injury, increasing incidence of hearing loss, increasing cases of amputation due to the rising number of accidents, and increasing prevalence of diabetes.
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Neuroprosthetics are devices implanted in the body that stimulate the function of an organ or organ system that has failed due to any disease or injury. In this market, auditory prosthetics/cochlear implants, cognitive prosthetics, visual prosthetics/retinal implants are the major device types.
Spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and transcranial magnetic stimulation are the major techniques of the neuroprosthetic market. Spinal cord stimulation (SCS) is the largest segment.
North America will remain the largest region over the forecast period due to rising incidence of neurological diseases and growth in the geriatric population, higher research and development investments, and the availability of funds from both government and private institutes in the region.
Medtronic, Abbott, Cochlear, Boston Scientific, Livanova, Second Sight, Med-El, Retina Implant, Sonova, Neuropace, NDI Medical, and Nevro are among the major manufacturers of neuroprosthetic.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the neuroprosthetic market by device type, technique, application, and region. Lucintel has prepared a comprehensive research report titled "Neuroprosthetic Market 2019-2024: Trends, Forecast, and Opportunity Analysis". The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the neuroprosthetic market by device type, technique, application, and region as follows:
By Device Type [$M shipment analysis for 2013 – 2024]:
Auditory Prosthetics/Cochlear Implants
Cognitive Prosthetics
Visual Prosthetics/Retinal Implants
Motor Prosthetics
Others
By Technique [$M shipment analysis for 2013 – 2024]:
Spinal Cord Stimulation
Deep Brain Stimulation
Vagus Nerve Stimulation
Sacral Nerve Stimulation
Transcranial Magnetic Stimulation
By Application [$M shipment analysis for 2013 – 2024]:
Motor Neuron Disorder
Physiological Disorders
Cognitive Disorder
Others
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/neuroprosthetic-market.aspx or helpdesk@lucintel.com.
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