Neuroprosthetics Market Growth: Key Market Segments and Opportunities
Neuroprosthetics
Market size was valued at USD 10.40 billion in 2022 and is expected to
reach at USD 26.12 billion by 2030, and grow at a CAGR of 12.2% over the
forecast period of 2023-2030.
The Neuroprosthetics Market Report provides a comprehensive
analysis of the global Neuroprosthetics market, highlighting key trends, growth
drivers, challenges, and opportunities. The report aims to assist industry
stakeholders in making informed decisions and formulating effective strategies.
The neuroprosthetics market is a rapidly growing sector that
holds immense potential for revolutionizing the lives of individuals with
neurological disorders or injuries. Neuroprosthetics refer to devices that
interface with the nervous system to restore lost or impaired functionality,
such as movement, sensation, or cognition.
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One of the key driving factors behind the growth of this
market is the increasing prevalence of neurological disorders, including
Parkinson's disease, epilepsy, spinal cord injuries, and amputations. These conditions
often result in significant impairments that can greatly impact a person's
quality of life. Neuroprosthetic devices offer hope by providing alternative
pathways for communication between the brain and affected body parts.
Advancements in technology have played a crucial role in
expanding the capabilities of neuroprosthetics. The development of more
sophisticated sensors, actuators, and implantable devices has allowed for
greater precision and control over neural signals. This has led to remarkable achievements
like mind-controlled prosthetic limbs that can be controlled with thoughts
alone.
KEY MARKET SEGMENTS
By Type
·
Output neural prosthetics
·
Input neural prosthetics
By Technique
·
Spinal Cord Stimulation
·
Deep Brain stimulation
·
Vagus Nerve stimulation
·
Sacral nerve Stimulation
·
Transcranial Magnetic Stimulation
By Application
·
Motor neurons disorders
·
Physiological disorders
·
Cognitive disorders
Major Players Listed in the Report
are as Follows:
Medtronic plc, Cochlear Ltd, Boston Scientific, Abbott
laboratories, LivaNova, Retina implant Ag, Sonova, Neuropace, Second Sight
medical products, Nevro, MED-EL and others.
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