Neuroprosthetics Market Size Analysis, DROT, PEST, Porter's, Region & Country Forecast Till 2026

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Jun 09, 2021 (Heraldkeepers) —  

The rising number of neurological disorders, an increasing number of accidents leading to elevated cases of amputation, rising prevalence of diabetes, and surge in the number of hearing loss incidences are key factors contributing to high CAGR of Neuroprosthetics during the forecast period.

Market Size – USD 6.1 Billion in 2018, Market Growth – CAGR of 12.4%, Market Trends – Product launches and research for advanced Neuroprosthetics

According to the current analysis of Reports and Data, the global Neuroprosthetics market was valued at USD 6.1 Billion in 2018 and is expected to reach USD 15.8 Billion by the year 2026, at a CAGR of 12.4%. The study covers Neuroprosthetics, neuroscience, and biomedical engineering discipline, concerned with developing neural prostheses. Neural prostheses are the assistive devices that can restore functions lost because of neural damage by substituting motor, sensory, or cognitive modality. Growing healthcare awareness all over the globe, rising prevalence of chronic diseases, rise in the number of patients with nerve injuries and neurological diseases, an increasing number of road mishaps and accidents elevating the number of amputation cases, and rising hearing loss incidences, are some of the key factors propelling Neuroprosthetics market growth in the industry. However, non-favorable reimbursement scenarios, high cost of neuroprosthetics, lack of skilled professionals, and availability of advanced alternative treatment options are the major hindrance for Neuroprosthetics market growth during 2019-2026. The Neuroprosthetics market is much fragmented, and major players are adopting various techniques to grow their range of product offerings. For instance, In June, Medtronic, a medical device company, announced a new outcomes-based agreement with Aetna, one of the largest healthcare company in the States. The agreement focuses on patients who rely on multiple daily insulin injections for type 1 and type 2 diabetes. The agreement is a dedication for the smooth transition of Aetna members multiple daily injections to a Medtronic insulin pump.

Key companies profiled in the report include

Second Site, Boston Scientific Corporation, Medtronic, Inc., Neuropace, Cochlear Limited, Abbott, Sonova, NeuroPace, Inc., Cyberonics, Inc., and Nervo Corp.

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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Neuroprosthetics market.

The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.

Neuroprosthetics Market Segmentation based on Types:

Type (Revenue, USD Million; 2016-2026)

  • Motor Prosthetics
  • Auditory Prosthetics/Cochlear Implants
  • Cognitive Prosthetics
  • Visual Prosthetics/Retinal Implants

Technology Type (Revenue, USD Million; 2016-2026)

  • Deep Brain stimulation
  • Vagus Nerve stimulation
  • Spinal Cord stimulation
  • Sacral Nerve Stimulation
  • Transcranial magnetic Stimulation

Neuroprosthetics Market Segmentation based on Application:

Application Type (Revenue, USD Million; 2016-2026)

  • Motor Neuron Disorders
  • Parkinson’s Disease
  • Epilepsy
  • Physiological Disorders
  • Auditory Processing Disorders
  • Ophthalmic Disorders
  • Cardiovascular Disorders
  • Kidney Diseases
  • Cognitive
  • Alzheimer’s Disease
  • Severe Depression

The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.

The key geographical regions analyzed in the market report are:

  • North America(U.S.A., Canada)
  • Europe(U.K., Italy, Germany, France, Rest of EU)
  • AsiaPacific(India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America(Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa(Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Benefits of Neuroprosthetics Market Report:

  • In-depth understanding of the market size, market share, and market scope of Neuroprosthetics market
  • Easy identification of growth opportunities and key product development strategies
  • Historical and forecast data for Neuroprosthetics market to ease the decision making process
  • Production and consumption ratio, import/export data and company’s market position explained in detailed with graphs and charts to aid in decision making
  • Strategic recommendations to established players and new entrants to gain a strong foothold in the market

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