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.
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 [$M shipment analysis for 2013 – 2024]:
• Auditory Prosthetics/Cochlear Implants
• Cognitive Prosthetics
• Visual Prosthetics/Retinal Implants
• Motor Prosthetics
By Technique [$M shipment analysis for 2013 – 2024]:
• Spinal Cord Stimulation
• Deep Brain Stimulation
• Vagus Nerve Stimulation
• Sacral Nerve Stimulation
• Transcranial Magnetic Stimulation
By Application [$M shipment analysis for 2013 – 2024]:
• Motor Neuron Disorder
• Physiological Disorders
• Cognitive Disorder
By Region [$M shipment analysis for 2013 – 2024]:
• North America
• United States
• 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 ……….. [email protected]
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q.1. What are some of the most promising potential, high-growth opportunities for the neuroprosthetic market by device type (output neural prosthetics and input neural prosthetics), technique (spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and transcranial magnetic stimulation), application (motor neuron disorder, physiological disorders, cognitive disorder, 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.Which regions will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges of the neuroprosthetic market?
Q.5.What are the business risks and threats to the neuroprosthetic market?
Q.6.What are emerging trends in this neuroprosthetic market and the reasons behind them?
Q.7.What are some changing demands of customers in the neuroprosthetic market?
Q.8.What are the new developments in the neuroprosthetic market? Which companies are leading these developments?
Q.9. Who are the major players in this neuroprosthetic market? What strategic initiatives are being implemented by key players for business growth?
Q.10.What are some of the competitive products and processes in this neuroprosthetics area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11. What M & A activities have taken place in the last 5 years in neuroprosthetic market?