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Neurotechnology Market Global Industry Analysis and Forecast Till 2025
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Neurotechnology Market: Drivers and Restraints
The growth of global neurotechnology market is primarily driven by the introduction of new technological advancement products. In addition, factors such as increasing prevalence and incidences of neurological disorders, and increasing funding and grants by both public and private bodies are also gardening the growth of neurotechnology market. For instance, according to the estimates of United Nation (UN), nearly 1 billion people are suffering from some type of neurological disorders. However, factors such as high cost of the products, complex regulatory framework, and ethical concerns such as privacy and cognitive liberty are the major obstacles to the growth of neurotechnology market.
Neurotechnology Market: Segmentation
The global neurotechnology market can be segmented on the basis of product type, end-user, and region.
On the basis of product type, global neurotechnology market can be segmented as:
Imaging Modalities
Magnetic Resonance Imaging(MRI)
Computed Tomography (CT)
Positron Emission Tomography (PET)
Neurostimulation
Transcranial Magnetic Stimulation (TMS)
Transcranial Direct Current Stimulation(tDCS)
Cranial Surface Measurement
Electroencephalography(EEG)
Magnetoencephalography(MEG)
Neurological Implants
On the basis of end-user, global neurotechnology market can be segmented as:
Hospitals
Clinics
Diagnostic Centers
Ambulatory Surgical Centers
On the basis of region, global neurotechnology market can be segmented as:
North America
Latin America
Europe
Asia Pacific
Middle East and Africa
Neurotechnology Market: Overview
Neurotechnology holds a promising future in evolving human nature when applied fundamentally. The technologies available based on neurotechnology describes the brain’s activity but requires more extensive research for full implementation of available and upcoming technologies. The adoption of neurotechnology in medical science allows researcher to connect to brain’s activity and understanding individuals’ personality and lifestyle patterns for potent diagnosis and prognosis of neurological disorders.
Neurotechnology Market: Region Wise Outlook
Geographically, global neurotechnology market can be segmented as North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The market in North America is anticipated to show the largest share for neurotechnology, followed by Europe, owing to the increasing prevalence and incidence of neurological disorders. In addition, large patient population coupled with the geriatric population and increasing research and development funding by government bodies are also driving the growth of neurotechnology market.
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The market in Asia-Pacific is estimated to grow at fastest CAGR during the forecast period owing to the modernization of medical and research facilities, and government are also taking initiatives by providing grants and fellowship to the researchers. However, the regions such as Latin America and Middle East and Africa show a steady growth during the forecast year owing to the scarcity of skilled professional and inadequate presence of research infrastructure.
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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