Dallas, TX / CRWE PRESS RELEASE / Dec. 9, 2021 - According to the recent study the Neuroprosthetic Market is projected to grow at a CAGR of 12% from 2019 to 2024. Growth in this market is primarily driven by increasing number of patients suffering from neurological disorders and nerve injury, increasing incidence of hearing loss, increasing cases of amputation due to the rising number of accidents, and increasing prevalence of diabetes.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in neuroprosthetic market by device type (auditory prosthetics/cochlear implants, cognitive prosthetics, visual prosthetics/retinal implants, motor prosthetics, and others), technique (spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and transcranial magnetic stimulation), application (motor neural prosthetics, physiological disorders, cognitive disorders, and others), and region (North America, Europe, Asia-Pacific, and ROW).
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“Spinal cord stimulation market is expected to remain the largest segment during the forecast period.”
Based on technique, the neuroprosthetic market is segmented into spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and transcranial magnetic stimulation. Lucintel forecasts that the spinal cord stimulation market is expected to remain the largest segment.
“North America will dominate the neuroprosthetic market in near future”
North America will remain the largest region over the forecast period due to rising incidence of neurological diseases and growth in the geriatric population, higher research and development investments, and the availability of funds from both government and private institutes in the region.
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Major players of neuroprosthetic market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Medtronic, Abbott, Cochlear, Boston Scientific, Livanova, Second Sight, Med-El, Retina Implant, Sonova, Neuropace, NDI Medical, and Nevro are among the major neuroprosthetic providers.
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