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Neuroprosthetics Market Opportunities, Growth Prospect, Shares and Market Restraints Forecasts To 2025

The increasing preference of self-charging devices, which uses bioenergy is expected to propel demand for brain implants throughout the forecast period. Furthermore, rise in aging population susceptible to neurological diseases is presumed to be a high impact factor for increasing neural implants demand throughout the forecast period.

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Neuroprosthetics Market Opportunities, Growth Prospect, Shares and Market Restraints Forecasts To 2025

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  1. Neuroprosthetics Market Opportunities, Growth Prospect, Shares and Market Restraints Forecasts To 2025 “The Global Neuroprosthetics Market is estimated to develop at a substantial CAGR for the duration of the prediction period. The market research report delivers an exceptional means for assessing the market, emphasizing openings, and backing up the planned and calculated policymaking.” Industry Insights The market for neuroprosthetics in 2015 was estimated at USD 4.2 billion globally. This can be attributed to high prevalence rate of disorders such as severe depression, Alzheimer’s, muscle/neuromuscular junction disorder, ophthalmic, auditory, epilepsy, and Parkinson’s which will drive the growth. Also, the increasing investments in R&D for new products and device innovation & development for effective treatment plans to be used for neurological diseases are anticipated to provide significant boost to the overall demand. The increasing preference of self-charging devices, which uses bioenergy is expected to propel demand for brain implants throughout the forecast period. Furthermore, rise in aging population susceptible to neurological diseases is presumed to be a high impact factor for increasing neural implants demand throughout the forecast period. Technology Insights The largest market share of around 50.0% was held by spinal cord stimulation segment in 2015. The dominant share can be attributed to high penetration of these devices with technological upgradations. These upgradations facilitate usage in various applications, to treat impaired autonomic, sensory, and motor functions. Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/neuroprosthetics-market/request-sample

  2. Advent of technologically advanced products, that includes surgical implantable devices, featuring images, MRI, movable and automated probes, and local field potentials is predicted to provide attractive growth opportunities. Moreover, the frequent development of next-generation technologies by manufacturers, to enhance treatment interventions for restoration of impaired neurological functions, makes sacral nerve stimulators as fastest growing segment. Type Insights The largest market share was held by motor prosthetics followed by the cochlear prosthetics segment in 2015. The dominant share held by motor prosthetic can be attributed to increased adoption, preference for implantable devices in bladder control and brain computer interface for treatment of lateral sclerosis & paraplegic patients. A rapid growth is seen by the auditory segment owing to the increase in usage of mid brain AMI’s and brain stem implants ABI’s by patients with impaired hearings. Cochlear implants can be used for stimulation therapy and signal processing systems, which is expected to broaden the treatment scope in the future for neural disorders. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/neuroprosthetics-market Application Insights Traumatic brain injuries, spinal cord injuries, Parkinson’s disease, and Alzheimer’s can be treated with the use of neuroprosthetics. The neuroprosthetic devices can be broadly classified into cognitive & physiological disorders, and motor neuron abnormalities based on application. The largest application segment was found to be motor neuron disorders in 2015 owing to the increasing adoption in epilepsy and Parkinson’s along with high prevalence of the aforementioned thereby leading to a widened consumer base. The fastest growing segment is anticipated to be cognitive disorders as a consequence of rising prevalence of severe depression and Alzheimer’s. Introduction of various technologically advanced stimulation devices which can stimulate motor controls and calculate limb trajectory to be used in paralysis treatment, is expected to further drive the market during the forecast period. Regional Insights

  3. The largest share of over 50.0% in terms of revenue was held by North America in 2015. The dominancy in terms of revenue can be attributed to various factors such as, private and government funding as well as supportive healthcare infrastructure. Europe is anticipated to witness an upward shift as a consequence of advent of technologically advanced products for patients with impaired hearing and increasing initiatives by the government. The fastest growing region is predicted to be Asia Pacific owing to the untapped opportunities present in this emerging region. The shifting focus towards overall cost containment in manufacturing of implants and high awareness amongst patients are predicted to drive the growth prospects. Moreover, increasing investments by the key players for development of new manufacturing facilities is expected to provide high growth potential over the coming years for neural implants. Competitive Insights Various companies which offer solutions for a wide range of neurological disorders are BrainGate, Sonova, MED- EL, Nervo Corp., Retina Implant AG, St. Jude Medical Inc., and Boston Scientific Corporation. The prominent players include NeuroPace Inc, NDI Medical LLC, Medtronic Inc., Cyberonics Inc., and Cochlear Limited. The oligopolistic nature of the market and companies help in providing technologically advanced and effective solutions including, stimulators, smart hearing devices, wireless mini microphones and advanced therapy for neurological diseases. Geographic expansion and strategic collaborations are some of the few sustainable strategies that are adopted by these players. This is predicted to keep the industry’s competitive rivalry at the highest level and drive the market throughout the forecast period. Market Segments: Global Neuroprosthetics Type Outlook (Revenue, USD Million, 2013 - 2024) • Motor Prosthetics • Auditory Prosthetics/Cochlear Implants • Cognitive Prosthetics • Visual Prosthetics/Retinal Implants Global Neuroprosthetics Technology Outlook (Revenue, USD Million, 2013 - 2024) • Deep Brain Stimulation (DBS) • Vagus Nerve Stimulation (VNS) • Spinal Cord Stimulation (SCS) • Sacral Nerve Stimulation (SNS)

  4. Global Neuroprosthetics Application Outlook (Revenue, USD Million, 2013 - 2024) • Motor Neuron Disorders • Parkinson’s disease • Epilepsy • Physiological Disorders • Auditory Processing Disorders • Ophthalmic Disorders • Cardiovascular Disorders • Kidney Diseases • Cognitive Disorders • Alzheimer’s disease • Severe Depression Neuroprosthetics Regional Outlook (Revenue, USD Million, 2013 - 2024) • North America • U.S. • Canada • Europe • UK • Germany • Asia Pacific • Japan • China • India • Latin America • Mexico • Brazil • MEA • South Africa See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/medical-devices

  5. Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions. Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com Global Headquarters Million Insights Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States Phone: 1-408-610-2300 Email: sales@millioninsights.com Asia Pacific Million Insights Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India Phone: 91-20-65300184

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