What is Neuroprosthetics Market Scope?
Neuroprosthetics is a device which records brains signals with an aim to find the cognitive behavior of individual. Electroencephalography (EEG) is mostly used to record in which an electrode is placed on individual scalp. Using these machines, the researchers find various kinds of signals and also identify the part of brain which is active.Growing number of hearing implant cases and rising number of neurological disorders are supplementing the growth of the very market.
Neuroprosthetics Market Dynamics:
Attributes | Details |
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Growth Drivers | - Rising Number of Patients Suffering from Neurological Disorders
- Growing Number of Hearing Loss and Cases of Diabetes
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Influencing Trends | - Rising Cases of Amputation Owing to Rising Number of Injuries
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Restraints | - Availability of Alternative Treatment Methods
- High Cost of Neurasthenics Treatment
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Road Blocks / Challenges | - Lack of Trained Professional
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Gaps & Opportunities | - Rising Disposable Income in Emerging Countries
- Advancement in Neurasthenics Treatment Methods
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The Neuroprosthetics market study is being classified by Type (Output Neural Prosthetics and Input Neural Prosthetics), by Application and major geographies with country level break-up.
Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Neuroprosthetics market throughout the predicted period.
Medtronic (United States), Abbott (United States), Cochlear (Australia), Boston Scientific (United States), Livanova (United Kingdom), Second Sight (United States) and Med-El (Austria) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Sonova (Switzerland), Neuropace (United States), NDI Medical (United States) and Nevro (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Neuroprosthetics market by Type, Application and Region.
On the basis of geography, the market of Neuroprosthetics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region hold largest market share in the year 2021.
Market Influencers and their Development Strategies
In 2021, Second Sight Medical Products, a leading developer and marketer of implantable visual prostheses for creating artificial forms of useful vision for the visually impaired, have been approved by the U.S. Food and Drug Administration (FDA) for their Argus 2s retinal prosthetic system. and In 2021, Boston Scientific Corporation is FDA-cleared for its fourth-generation Vercise Genus Deep Brain Stimulation (DBS) system used to treat symptoms in patients with advanced Parkinson's disease.
In 2021, Houston Methodist School and Rice University have launched the Neuroprosthetics Collaboration - Intermediate Neuroprosthetics and Interfaces Center to focus on restoring brain function after illness or injury. Rice University and Houston Methodist have partnered to launch the Center for Translational Neural Prosthetics and Interfaces, a collaboration between scientists, clinicians, engineers, and surgeons to solve clinical problems with neural robots., In 2020, MED-El is certified by the European Medical Device Regulation (MDR). This certification makes MED-El one of the first manufacturers in the world to be certified for medical devices of the highest risk class (Class III), Class III implantable custom devices, and Class I reusable surgical instruments. and In 2020, Cochlear Limited has been approved by the US FDA to reduce the age of cochlear implantation in children with bilateral profound sensorineural hearing loss from 12 months to 9 months.
Key Target Audience
Neuroprosthetics Service Providers, End-user Industries, Potential Investors, Research Institutes, Government Agencies and Others
Neuroprosthetics Market Study: Important Years
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Customization available in this Study:
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