Top Market Shifts Transforming the Neurotechnology Market Landscape: Key Insights

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What Is the Expected CAGR for the Neurotechnology Market Through 2025?
In the past few years, the size of the neurotechnology market has seen a significant expansion. The market, which had a value of $15.38 billion in 2024, is forecasted to increase to $17.39 billion in 2025, with a compound annual growth rate (CAGR) of 13.1%. Factors such as heightened research funding, an aging demographic, a rising prevalence of neurological disorders, regulatory backing and government programs contribute to the growth experienced during the historical period.

What's the Projected Size of the Global Neurotechnology Market by 2029?
The neurotechnology industry is projected to experience an accelerated expansion in the upcoming years, with estimated market worth of $29.8 billion by 2029, reflecting a Compound Annual Growth Rate of 14.4%. This growth trajectory in the predictive phase is primarily driven by progress in regulations, genomics and neurological diseases, neurology telemedicine, precision medicine implementation, and the creation of closed-loop systems. The anticipated period is likely to witness trends such as progress in neuroinformatics, interventions in neuroplasticity, initiatives in brain mapping, solutions for remote monitoring, and non-invasive brain stimulation.

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Top Growth Drivers in the Neurotechnology Industry: What's Accelerating the Market?
The escalating occurrence of neurological disorders is projected to stimulate the expansion of the neurotechnology market in the future. A neurological disorder is any disease or condition that impacts the brain, such as Alzheimer's disease, Parkinson's disease, epilepsy, and migraine. Various methods like brain imaging, neurostimulation, neurofeedback, and brain-computer interfaces are employed by neurotechnology to diagnose and treat these neurological conditions. The American Heart Association Inc., a non-profit organization based in the US, declared in January 2022 that by 2060, Alzheimer's disease and related dementias are postulated to impact 9.3 million individuals in the United States. Moreover, in February 2023, the World Health Organization (WHO), an intergovernmental organization based in Switzerland, projected that every year an approximate 5 million people globally will be diagnosed with epilepsy. Consequently, the escalating occurrence of neurological disorders is fuelling the expansion of the neurotechnology market in the future.

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What Trends Will Shape the Neurotechnology Market Through 2029 and Beyond?
In the neurotechnology market, technological advancements are emerging as a notable trend. To maintain their competitive edge, businesses in this field are integrating novel innovations into their operations. For example, Blackrock Neurotech, an American biotech firm, in November 2022, introduced Neuralace, a cutting-edge neurotechnology application. This equipment, which resembles a strand of lace that's thinner than an eye lash, can cover extensive regions of the brain's surface. Neuralace has been devised as a flexible electrode with an extraordinarily high channel count, giving a sneak peek into the technology that could drive future Brain-Computer Interfaces (BCIs). This system effectively helped patients recover tactile abilities, limb and prosthesis movements, and the capacity to manipulate digital devices.

What Are the Main Segments in the Neurotechnology Market?
The neurotechnology market covered in this report is segmented -

1) By Conditions: Cognitive Disorders, Pain Treatment, Urinary And Faecal Incontinence, Epilepsy, Parkinson's Disease, Hearing Conditions, Sleep Disorder, Depression, Other Conditions
2) By Type: Imaging Modalities, Neurostimulation, Cranial Surface Measurement, Neurological Implants, Other Types
3) By End Use: Ambulatory Surgical Centers, Hospitals, Homecare Facilities, Other End Uses

Subsegments:
1) By Cognitive Disorders: Alzheimer's Disease, Attention Deficit Hyperactivity Disorder (ADHD), Dementia
2) By Pain Treatment: Chronic Pain, Neuropathic Pain, Acute Pain
3) By Urinary And Fecal Incontinence: Overactive Bladder, Neurogenic Bladder, Fecal Incontinence Management
4) By Epilepsy: Drug-Resistant Epilepsy, Seizure Management Devices
5) By Parkinson's Disease: Motor Symptoms Management, Non-Motor Symptoms Management
6) By Hearing Conditions: Tinnitus, Hearing Loss Solutions
7) By Sleep Disorder: Insomnia, Sleep Apnea, Restless Legs Syndrome
8) By Depression: Major Depressive Disorder, Treatment-Resistant Depression
9) By Other Conditions: Anxiety Disorders, Autism Spectrum Disorder, Traumatic Brain Injury (TBI)

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Which Top Companies are Driving Growth in the Neurotechnology Market?
Major companies operating in the neurotechnology market include General Electric, Medtronic PLC, Koninklijke Philips N.V., Shimadzu Corporation, EndoStim Inc., Elekta AB, Natus Medical Incorporated, Abbott, Boston Scientific Corporation, Cleveland Medical Devices Inc., Nihon Kohden Corporation, LivaNova PLC, Siemens Healthcare Private Limited, Hitachi Medical Corporation, Cochlear Limited, Advanced Bionics AG (Sonova), NeuroPace Inc., NeuroSigma Inc., NeuroMetrix Inc., NeuroSky Inc., NeuroVigil Inc., Neurotech Pharmaceuticals Inc., Neurotech International Limited, NeurotechEU, Neurotech Solutions, Neurotech Reports, Neurotech Research Development

Which Regions Will Dominate the Neurotechnology Market Through 2029?
North America was the largest region in the neurotechnology market in 2024. Europe is expected to be the fastest-growing region in the neurotechnology market report during the forecast period. The regions covered in the neurotechnology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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