Press release
Neuroprosthetics Market Analysis 2023: Market Growth Rate, Competitive Landscape And Top Opportunities
Neuroprosthetics
The Business Research Company's Neuroprosthetics Global Market Report 2023 identifies rising patient population as the major driver for the Neuroprosthetics market's growth in the forecast period. Neurological disorders are referred to as disorders that affect the brain and the nerves present in the human body and the spinal cord. Nerve injuries are the damages caused to nerves due to pressure, cuts, or stretching during an accident or any unpredicted event. Neuroprosthetics help patients with such disorders and injuries to restore their lost motor and sensory functions.
The global neuroprosthetics market size grew from $8.09 billion in 2022 to $9.24 billion in 2023 at a compound annual growth rate (CAGR) of 14.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the neuroprosthetics market is expected to grow to $16.03 billion in 2027 at a CAGR of 14.7%.
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Major competitors in the Neuroprosthetics market are Medtronic plc, Cochlear Ltd., Abbott Laboratories, Boston Scientific, LivaNova PLC., Second Sight Medical Products Inc.
A key trend in the Neuroprosthetics market includes technological advancements. Technological advancement is defined as a discovery of knowledge that advances technology to provide an enhanced product to the customers. For instance, in July 2021, the University of California San Francisco Parnassus Campus (UCSF), a US-based academic medical center, developed Speech Neuroprosthesis.
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The Neuroprosthetics market is segmented -
• By Type: Motor Neuroprosthetics, Auditory Neuroprosthetics/ Cochlear implants, Visual Neuroprosthetics/ Retinal implants, Cognitive Neuroprosthetics
• By Technique: Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, Transcranial Magnetic Stimulation
• By Application: Motor Neuron Disorders, Physiological Disorders, Cognitive Disorders
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europewas the largest region in the Neuroprosthetics market.
The Business Research Company's "Global Neuroprosthetics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Neuroprosthetics Market Include:
1. Executive Summary
2. Neuroprosthetics Market Characteristics
3. Neuroprosthetics Market Trends And Strategies
4. Neuroprosthetics Market - Macro Economic Scenario
……
26. Africa Neuroprosthetics Market
27. Neuroprosthetics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Neuroprosthetics Market
29. Neuroprosthetics Market Future Outlook and Potential Analysis
30. Appendix
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