The Neuroprosthetics market will grow owing to the increasing prevalence of neurological conditions, the rising patient awareness related to neurodegenerative disorders and technological advancements.
LAS VEGAS, Nov. 25, 2021 /PRNewswire/ -- DelveInsight's Neuroprosthetics Market Insights and Forecast report provides the current and forecast Neuroprosthetics Market, upcoming innovation in the devices, individual market shares, challenges, drivers and barriers, market trends, and key competitors in the Neuroprosthetics Market.
Some of the salient features from the Neuroprosthetics Market report:
- As per an analysis by DelveInsight, North America is expected to dominate the overall Neuroprosthetics Market during the forecast period.
- Major pharma players working proactively in the Neuroprosthetics Market include Medtronic, Cochlear Ltd., Abbott, Boston Scientific Corporation, LivaNova, Second Sight Medical Products, Inc., MED-EL, Retina Implant AG, Sonova, NeuroPace, Inc., and others.
- DelveInsight estimates that the Global Neuroprosthetics Market was valued at USD 6.35 billion in 2020, growing at a CAGR of 12.76% during the forecast period from 2021 to 2026 and is anticipated to reach USD 11.32 billion by 2026.
- In October 2021, Cochlear Limited, the global leader in implantable hearing solutions, obtained US Food and Drug Administration (FDA) approval and clearance in the last month for its Cochlear Remote Assist solution in the Nucleus and Baha Systems.
- In March 2021, Second Sight Medical Products, a leading developer and marketer of implantable visual prosthetics that are intended to create an artificial form of useful vision for blind individuals, received the US Food and Drug Administration (FDA) approval of the Argus 2s Retinal Prosthesis System.
Interested in knowing how the Neuroprosthetics Market will be growing by 2026? Click to get a snapshot of Neuroprosthetics Market Analysis
Neuroprosthetics Overview
Neuroprosthetics as the name suggests is a combination of neural processing with prosthetics. These are different from the traditional prosthetics as it's more closely aligned to how the human body functions and works via a brain-computer interface (BCI), or a brain-machine interface. Thus, Neuroprosthetics is devoted to studies of brain-machine interfaces and neuroprostheses and aims at bringing together the most outstanding work to develop and explore devices and strategies in humans and animals. These have been around for years in the form of cochlear implants and visual prosthetics but are gaining more attention as viable interventions in the field of brain injury. Neuroprosthetics involve a range of artificial devices or systems that can be used to boost the motor, sensory, cognitive, visual, auditory, and communicative deficits that arise from acquired brain injuries. These comprise assistive technology, functional electrical stimulation, myoelectric prostheses, robotics, virtual reality gaming, and brain stimulation.
To pick on the latest highlights related to Neuroprosthetics, get the snapshot of the key highlights entailed in the Neuroprosthetics Market report.
Neuroprosthetics Market Insight
Geographically, the global Neuroprosthetics market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of revenue share North America currently leads the global market and is expected to remain constant during the forecast period. This domination is observed majorly owing to the growing cases of neurologic disorders, rising healthcare expenditure due to a strong economy, and the presence of well-established healthcare infrastructure.
There are great opportunities for Neuroprosthetics market penetration for countries like Mexico, India, and China to the major companies already having a grip in developed regions in Neurostimulation Devices. According to DelveInsight estimates, spinal cord stimulators hold a significant Neuroprosthetics market during the forecasted period. This is owing to the growing patient population suffering from chronic pain, failed back syndrome, and complex regional pain syndrome (CRPS).
In January 2021, Boston Scientific Corporation received FDA approval for its fourth-generation Vercise Genus Deep Brain Stimulation (DBS) System used to treat symptoms in patients with advanced Parkinson's disease. Owing to the launch of novel devices, there will be a rapid growth observed in the Neuroprosthetics market during the forecast period.
Learn more about the Neuroprosthetics Market Landscape @ Neuroprosthetics Market Landscape
Neuroprosthetics Market Drivers and Barriers
The rising prevalence of neurological disorders and nerve injuries, growing amputations cases owing to the rising number of accidents & injuries, increased initiative towards research and development, and technological advancement, are considered as some of the major factors driving the demand for Neuroprosthetics. There is an anticipation of high demand for cochlear implants due to the prevalence of hearing loss increase among those older than 60 years boosting the Neuroprosthetics market. Also, the current advances in neurotechnologies and neuroimaging are adding to the fast increase in the usage of Neuroprosthetics to treat an increasingly wide range of neurologic disorders. Therefore, expansion of device usage to other chronic indications and targeted applications is also anticipated to boost the global Neuroprosthetics market.
The demand for Neuroprosthetics is primarily affected by the outbreak of the COVID-19 pandemic because of the delay in elective surgeries needed for the Neuroprosthetics implantable devices. Undiagnosed and unreported neurologicalcases also act as setbacks for the Neuroprosthetics market.
To get a deeper understanding of the driving factors related to the Neuroprosthetics Market, get a snapshot of the Neuroprosthetics Market Dynamics
Scope of the Neuroprosthetics Market Report
Study Period: 2018-2026
Key Companies: Medtronic, Cochlear Ltd., Abbott, Boston Scientific Corporation, LivaNova, Second Sight Medical Products, Inc., MED-EL, Retina Implant AG, Sonova, NeuroPace, Inc.
Neuroprosthetics Market Segmentation
By Type
- Motor Prosthetics
- Cognitive Prosthetics
- Auditory Prosthetics/Cochlear Implants
- Visual Prosthetics/Retinal Implants
By Procedure
- Invasive
- Non-Invasive
By Technology
- Deep Brain Stimulators
- Vagus Nerve Stimulators
- Sacral Nerve Stimulators
- Spinal Cord Stimulators
- Transcranial Magnetic Stimulators
- Others
By End-User
- Hospitals
- Ambulatory Surgical Centres
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Rest of World
Delveinsight Analysis: The Neuroprosthetics market is expected to grow at a CAGR of 12.76% and will reach USD 11.32 billion by 2026.
Table of Contents
1 | Neuroprosthetics Market Report Introduction |
2 | Neuroprosthetics Market Executive summary |
3 | Regulatory and Patent Analysis |
4 | Neuroprosthetics Market Key factors analysis |
5 | NeuroprostheticsPorter's Five Forces Analysis |
6 | COVID-19 Impact Analysis on Neuroprosthetics Market |
7 | Neuroprosthetics Market Layout |
8 | Neuroprosthetics Global Company Share Analysis - Key 3-5 Companies |
9 | Neuroprosthetics Market Company and Product Profiles |
9.1 Medtronic 9.2 Cochlear Ltd. 9.3 Boston Scientific Corporation 9.4 Abbott 9.5 LivaNova 9.6 Second Sight Medical Products, Inc. 9.7 MED-EL 9.8 Retina Implant AG 9.9 Sonova 9.10 NeuroPace, Inc. 9.11 BrainGate. 9.12 SensArs 9.13 Axonics, Inc. 9.14 MicroTransponder Inc. 9.15 electroCore, Inc. | |
10 | Project Approach |
11 | KOL Views |
12 | DelveInsight Capabilities |
13 | Disclaimer |
14 | About DelveInsight |
Learn more about the report offerings @ Neuroprosthetics Market Outlook
Understand the Competition, Risk Assessment and effective Research and Development approach to take value-based decisions.
Related Reports
Prosthetic Joint Infections Pipeline
DelveInsight's, "Prosthetic Joint Infections - Pipeline Insight, 2021," report provides comprehensive insights about 5+ companies and 5+ pipeline drugs in the Prosthetic Joint Infections pipeline landscape. It covers the pipeline drug profiles, including clinical and non-clinical stage products, details about key companies such as TenNor Therapeutics, Peptilogics, Armata Pharmaceuticals, Contrafect, Osteal Therapeutics, and others.
Voice Prosthesis Devices Market
DelveInsight's 'Voice Prosthesis Devices - Market Insight, Competitive Landscape and Market Forecast, 2026' report delivers an in-depth understanding of Voice Prosthesis Devices and the historical and forecasted Voice Prosthesis Devices market trends, market drivers and barriers, and key companies involved such as Atos Medical, Teleflex Medical Europe Ltd, Johnson & Johnson Services, Sonova
Andreas Fahl Medizintechnik - Vertrieb GmbH, InHealth Technologies, HEIMOMED Heinze, Smiths Medical, SERVONA GmbH, and others.
Total Wrist Prosthesis Market
DelveInsight's 'Total Wrist Prosthesis - Market Insight, Competitive Landscape and Market Forecast, 2026' report delivers an in-depth understanding of Total Wrist Prosthesis and the historical and forecasted Total Wrist Prosthesis market trends, market drivers and barriers, and key companies involved such asZimmer Biomet, Acumed, DePuy Synthes (Sub. Johnson & Johnson Services, Inc.), Medartis, Swemac, Integra LifeSciences Corporation, Skeletal Dynamics LLC,and others.
Orthopedic Prosthesis Devices/Resection Guides - Market
DelveInsight's 'Orthopedic Prosthesis Devices/Resection Guides - Market Insight, Competitive Landscape and Market Forecast, 2026' report delivers an in-depth understanding of Orthopedic Prosthesis Devices/Resection Guides and the historical and forecasted Orthopedic Prosthesis Devices/Resection Guides market trends, market drivers and barriers, and key companies involved such as Stryker, DePuy, Zimmer Inc, Smith & Nephew, Medtronic, Synthes, Biomet, and others.
Tissue Heart Valves Market
Global Tissue Heart Valves Market report by DelveInsight delivers an in-depth understanding of Tissue Heart Valves Market and the historical and forecasted Tissue Heart Valves market trends, market drivers and barriers, and key companies involved such as Abbott, Boston Scientific Corporation, CryoLife, Edward Lifesciences Corporation, Medtronic, Sorin Group (LivaNova PLC), and others
Browse Through Our Blog Posts
- Evaluating the Role of Digital Therapeutics as an Alternative to Conventional Therapies for Depression
- Medical Devices Market Blooms as the Key MedTech Companies Continue to Bring-In Innovation
- MedTech Industry Roars Back as FDA Approvals Soar
Connect With Us at LinkedIn | Facebook | Twitter
Contact Us
Shruti Thakur
info@delveinsight.com
+1(919)321-6187
www.delveinsight.com
Logo: https://mma.prnewswire.com/media/1082265/DelveInsight_Logo.jpg
