The global neuroprosthetic market is projected to grow at a CAGR of 12% during 2019 to 2024. The growth of neuroprosthetic market is driven by 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.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising potential, high-growth opportunities for the global neuroprosthetic market by device type (auditory prosthetics/cochlear implants, cognitive prosthetics, visual prosthetics/retinal implants, motor prosthetics, and others), technique (spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and transcranial magnetic stimulation), application (motor neural prosthetics, physiological disorders, cognitive disorders, and others), and region (North America, Europe, Asia-Pacific, and ROW)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the neuroprosthetic market?
Q.4 What are some changing demands of customers in the neuroprosthetic market?
Q.5 What are the new developments in the neuroprosthetic market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this neuroprosthetic area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this neuroprosthetic market?
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Based on technique, the neuroprosthetic market is segmented into spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and transcranial magnetic stimulation. The spinal cord stimulation segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period.
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.
Key Players in the neuroprosthetic market are Medtronic, Abbott, Cochlear, Boston Scientific, Livanova, Second Sight, Med-El, Retina Implant, Sonova, Neuropace, NDI Medical, and Nevro.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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