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Neuroprosthetics Market Forecast by Key Players: Medtronic, Boston Scientific Corporation, St. Jude Medical, Cyberonics Inc., Retina Implant AG, MED-EL, Sonova Group an Others

01-15-2019 07:22 AM CET | Health & Medicine

Press release from: Allied Market Research

Neuroprosthetics Market

Neuroprosthetics Market

Neuroprosthetics Market is expected to garner $14 billion by 2020, registering a CAGR of 15.8% during the forecast period 2014-2020. Some of the key market players profiled in this report are Medtronic, Boston Scientific Corporation, St. Jude Medical, Cyberonics Inc., Retina Implant AG, MED-EL, Sonova Group (Advanced Bionics AG) and NDI Medical LLC.

The report provides intellect regarding the application of neuroprosthetic devices/implants in the treatment of different diseases such as, parkinson's disease, Alzheimer’s disease, visual impairment and blindness, severe depression, epilepsy, auditory disorders, cardiovascular disorders and kidney disorders. The report confers various value chain entities such as Conventional drug therapy/devices, External/wearable devices, Neurostimulators (brain-machine interfaces), embedded systems. However, the report excludes external stimulation technologies such as transmagnetic stimulation (TMS).

High prevalence of chronic diseases and growing healthcare awareness has boosted the market growth for neuroprosthetic devices/implants. This research report provides pin-point analysis of the global neuroprosthetics market, including market estimates and trends through 2020. The report contains an in-depth analysis of different segments such as neuroprosthetics technologies, types, applications and geography. This report is focused on four major neuroprosthetics technologies namely, deep brain stimulation, spinal cord stimulation, vagus nerve stimulation and sacral nerve stimulation.

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Neuroprosthetic devices/implants are technically advanced products that involves different technologies for its manufacturing/functioning such as local field potential, automated movable electrical probes, MRI, image guided surgical technique etc. These technological developments have occupied neuroprosthetics arena with innumerable replacement strategies, rehabilitation procedures and neuromodulation therapies to improve the quality of life for patients with neuromotor disorders.

Advancement in technology has assisted to develop the personalize neurotechnologies and rehabilitation for patient specific neural impairments to accomplish the timely dissemination of neuroprosthetic treatment Cochlear implants and retinal implants are the examples of technologically advanced neuroprosthetic products that have helped deaf and blind population respectively. Argus II retinal prosthesis is EU and USFDA approved commercial available visual prosthesis that improves the vision in patient with retinitis pigmentosa. Thus, with continually advancing technologies, the impact of this factor is expected to augment in near future.

The growth of neuroprosthetics market in Europe is primarily attributed to the increasing burden of chronic neurological conditions. In established European countries the growth of neuroprosthetics market is expected to remain stable, whereas, faster growth is expected in new European Union member states due to considerable funding and modernization of healthcare facilities. Germany, Italy, UK, France and The Netherlands are the biggest markets in the European region for neuroprosthetics.

Brain disorders exhibits a considerable social and economic burden in Europe. According to WHO survey, brain disorders are responsible for 35% of Europe’s total disease burden. This burden is increasing due to increasing number of aging population in Europe, and requires a considerable attention to address the treatment issues as all the cases does not respond to medication therapy. Due to this fact scientist have focused on new and advanced treatment options such as neuroprosthetics or brain implants to treat the chronic neurological conditions including Alzheimer’s, Parkinson’s and memory loss due to traumatic brain injury.

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Neuroprosthetics implants/devices are the costlier products that can be afforded by the consumers with high disposable incomes. Moreover, these devices require the training and skills for their use. In developed countries, can afford neuroprosthetics treatments due to presence of high income groups and awareness of these therapies amongst people.

However, in emerging markets people are not much aware about these therapies and requires rigorous training sessions to improve the literacy of people about these therapies to gain the considerable market share. Though, emerging markets are the lucrative opportunities for neuroprosthetics manufacturers, much focus is needed to improve the knowledge of people about these therapies Increasing government initiative to improve healthcare conditions is assisting patients in emerging economies to achieve the advantage from such therapies. Moreover, in emerging regions, disposable incomes are rising; which has benefited the healthcare industry through expanding healthcare expenses; thus, impact of this factor would grow in future.

Key Benefits

• An in-depth analysis of the current market scenario, future market estimates and trend-analysis to reveal holistic picture that in turn facilitates decision making
• Quantitative analysis of the current market and estimations through 2013-2020 - to assist corporate strategists to design business strategies to capitalize on the current and future (possible) opportunities in the market
• Strategic analysis of key market players and business strategies within the global market provided - would assist stakeholders to make informed business decisions
• Pinpoint intelligence of key investment pockets are illustrated from the manufacturers point of view
• Report emphasizes on the key strategies adopted by the giants operating in the neuroprosthetic devices market
• Technological trends of neurological devices are critically analyzed and validated through primaries
• Identification of key product segments based on current and potential growth prospects - to reveal most profitable segments that can be catered to by the market players.

Learn More: https://www.prnewswire.com/news-releases/global-neuroprosthetics-market-is-expected-to-reach-14-billion-by-2020---allied-market-research-283818951.html

About us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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