Neuroprosthetics Market to Expand at 12.4% CAGR Between 2018 to 2023 to Reach USD 10. 48 Billion

Global Neuroprosthetics Market overview:
As per the latest report by MRFR, the Global Neuroprosthetics Market is anticipated to expand at 12.4% CAGR between 2018 and 2023. The Neuroprosthetics domain refers to a blend of neuroscience and biomedical engineering.
Global Neuroprosthetics Market is likely to reach a revenue valuation of USD 10.48 billion by the end of the forecast period. Such market growth can be attributed to various factors including increasing prevalence in neural diseases, overactive bladder syndrome, and various chronic disorders such as epilepsy and parkinson's disease. Further, advanced technologies are providing tools that don't need implanting and are minimally invasive, hence, driving accelerated growth to the global neuroprosthetics market during the forecast period.
Neuroprosthetics refers to a series of equipment which is used as a substitute for sensory motor and cognitive abilities of a human. Primarily, neuroprosthetics is used when injuries or diseases cause neurological damage in a human.
Key Players:
·         Cochlear
·         Abbott
·         Neuropace
·         Medtronic
·         Boston Scientific
·         Sonova
·         Livanova
·         Med-El
·         Retina Implant
·         Nevro
·         Second Sight
Market Segmentation:
Global Neuroprosthetics Market has been segmented on the basis of type, technology, applications, end users, and region. On the basis of type, the global neuroprosthetics market is segmented into output neuroprosthetics and input neuroprosthetics. The output neuroprosthetics segment is for the sub- segmented into cognitive prosthetics and motor prosthetics. On the other hand, the input prosthetics segment is further sub-segmented into cochlear implant and visual prosthetics.
On the basis of techniques, the global neuroprosthetics market segment into deep brain stimulation, vagus nerve stimulation, spinal cord stimulation, and sacral nerve stimulation. Based on end users, the global neuroprosthetics market is segmented into diagnostic centers, hospitals and clinics, and research centers.
Based on application, the global neuroprosthetics market segment into physiological disorders, motor neuron disorders, and cognitive disorders. The motor neuron disorder segment is sub-segmented into parkinson’s disease and epilepsy disorder. The physiological disorders segmentation further includes sub-segments of ophthalmic disorders, auditory processing disorders, neurology disorders, and cardiovascular disorders. The cognitive disorders segment is further sub-segmented into alzheimer’s disease paralysis and severe depression.
Detailed Regional Analysis:
The Global Neuroprosthetics Market is regionally segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa. The Americas is further segmented into North America and South America. North America is anticipated to dominate the global neuroprosthetics market over the forecast period. Such dominance can be attributed to research and development regarding the prevalence of neural diseases epilepsy and Parkinson’s disease. Further, rise in the patient number and diagnosis of Parkinson’s disease has triggered augmentation of the neuroprosthetics market in the region.
Europe, on the other hand, is anticipated to follow North America and hold the second largest share in the global neuroprosthetics market. Within Europe, the presence of a robust healthcare sector, rising investments in the research and development of neuroprosthetics, and growing government support are some factors driving the regional neuroprosthetics market growth during the assessment period.
Asia-pacific is anticipated to grow at a significant rate during the forecast period. Such growth in the regional neuroprosthetics market can be attributed to a massive patient population present in the region. Further, cognitive disorders and other neurological problems present in the region are projected to boost the neuroprosthetics market growth. Owing to the refurbished healthcare sector and various strategic decisions made by prominent market players to invest in the region are accelerating the regional market growth during the forecast period.
Industry Update 
March 2019:
European Innovation Council was announced by the Commission to be a part of Horizon 2020 program. This will provide various kinds of support to start ups, innovators, and companies to scale up internationally. The EIC program is connected to the Future and Emerging Technologies (FET) program. The FET program provides support to various high potential concept including neuroprosthetics and artificial photosynthesis.

Comments

Post a Comment

Popular posts from this blog

Proteomics Market Analysis, Demand Overview, Growth Analysis, Current Trends, Updates, and Global Industry Forecast to 2023

Market Highlights: The global proteomics market is anticipated to hold a market value of USD 23.2 billion in the year 2017 and is expected to grow at a CAGR of 14.1% during the forecast period. Proteomics is a science which is used to estimate the rate of protein production, interaction of proteins with one another, involvement of proteins in metabolic pathways, and modification of proteins. Also, it has extensive applications in drug discovery, development of personalized medicines, and identification of markers for disease diagnosis. Increasing need for personalized medicine, R&D expenditure, technological advancements and increased funding for proteomics project are expected to drive the market growth over the forecast period. For instance, in July 2017, Biognosys AG received USD 5 million funding from its new as well as existing investors. These new funds will be used for extending commercial operations and also to accelerate the development of next generation prote...
Read more

Pancreatic Cancer Market: America to Command the Largest Share

Market Overview: Pancreatic cancer can be defined as an enlarged tumor, which is generally caused by malignant cells present in the tissues of the pancreas. This type of cancer is generally caused due to drinking alcohol, smoking, genetic factors, radiotherapy in the past, obesity, inflammation of the pancreas, and diabetes mellitus. It is a type of cancer that starts in the pancreas and is a highly lethal disease. The global Pancreatic Cancer Market , as per a report by Market Research Future (MRFR) is touted to register 8.1% CAGR during the forecast period ( 2017-2023 ). The dearth of therapeutic approaches for early-stage detection has resulted in increased incidences of pancreatic cancer. Soaring prevalence of pancreatic cancer has resulted in germline mutations, thereby causing the defective genes to pass down to the children from their parents, thus making early detection of pancreatic cancer important. This has led to the growth of the market across the globe. Surging dem...
Read more

Immune Thrombocytopenia (ITP) Market is Estimated to Record Promising CAGR of 5.78% During Forecast 2018-2023

Market Highlights: As per the latest report published by Market Research Future (MRFR), the Global Immune Thrombocytopenia (ITP) is set to surpass a valuation of USD 2,300 Mn by the year 2023, reflecting a healthy CAGR. ITP is a blood related disorder that cause abnormal clotting. Some of the discomforts caused by the disease include bruising, bleeding and severe drop in platelets counts. Both minors and adults can develop the condition. The disease is classified into primary and secondary form. Primary form of ITP occurs on its own while the latter is an offshoot of another condition. The condition can be triggered by reactive medications, autoimmune disease, pregnancy and certain type of cancers. ITP is among the most commonly occurring disorder across the globe. In addition, the incidence rate has continued to spiral upwards in recent years. Factors as such as are fueling the demand for drugs and therapeutics for ITP. Currently, there are four treatment options available for ...
Read more