(MENAFN- EIN Presswire) Neuroprosthetics Market 2030
Neuroprosthetics market is expected to garner $14 billion by 2020, registering a CAGR of 15.8% during the period 2016-2020.
PORTLAND, OREGON, UNITED STATES, March 13, 2023 /einpresswire.com / -- The neuroprosthetics market is a rapidly growing market that includes a wide range of implantable devices and systems designed to interact with the nervous system to restore lost function or improve neurological performance. These devices are used to treat a variety of neurological disorders, including Parkinson's disease, epilepsy, spinal cord injuries, and chronic pain.
List of Key Players :
Medtronic plc, Abbott Laboratories, Cochlear Limited, evro Corporation, LivaNova PLC, NeuroPace Inc., NDI Medical LLC, and Retina Implant AG, among others.
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The growth of the neuroprosthetics market is being driven by factors such as the increasing prevalence of neurological disorders, the rising demand for advanced treatment options, and the growing focus on research and development to improve the safety and efficacy of neuroprosthetic devices.
North America currently holds the largest market share in the neuroprosthetics market, due to the high level of healthcare infrastructure, advanced healthcare technologies, and large patient population. Europe is the second-largest market, driven by the increasing prevalence of neurological disorders and a growing focus on research and development. The Asia-Pacific region is expected to witness the fastest growth, due to the rising geriatric population, increasing healthcare expenditure, and improving healthcare infrastructure.
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The neuroprosthetics market is composed of several segments, including:
Motor prosthetics: These devices are designed to restore motor function in patients with spinal cord injuries or other neurological disorders that affect movement.
Auditory prosthetics: These devices are designed to restore hearing in patients with hearing loss or other auditory disorders.
Visual prosthetics: These devices are designed to restore vision in patients with vision loss or other visual impairments.
Cognitive prosthetics: These devices are designed to improve cognitive function in patients with neurological disorders such as dementia or Alzheimer's disease.
Other neuroprosthetics: This segment includes a wide range of other devices and systems, such as deep brain stimulators and peripheral nerve stimulators, that are used to treat various neurological disorders.
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The neuroprosthetics market is driven by several factors, including the increasing prevalence of neurological disorders, the rising demand for advanced treatment options, and the growing focus on research and development to improve the safety and efficacy of neuroprosthetic devices
Our Market Research Solution Provides You Answer to Below Mentioned Question:
. Which are the driving factors responsible for the growth of market?
. Which are the roadblock factors of this market?
. What are the new opportunities, by which market will grow in coming years?
. What are the trends of this market?
. Which are main factors responsible for new product launch?
. How big is the global & regional market in terms of revenue, sales and production?
. How far will the market grow in forecast period in terms of revenue, sales and production?
. Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
. How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
. Which region has more opportunities?
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