The rising number of neurological disorders, an increasing number of accidents leading to elevated cases of amputation, rising prevalence of diabetes, and surge in the number of hearing loss incidences are key factors contributing to high CAGR of Neuroprosthetics during the forecast period.
Market Size – USD 6.1 Billion in 2018, Market Growth – CAGR of 12.4%, Market Trends – Product launches and research for advanced Neuroprosthetics
According to the current analysis of Reports and Data, the global Neuroprosthetics market was valued at USD 6.1 Billion in 2018 and is expected to reach USD 15.8 Billion by the year 2026, at a CAGR of 12.4%. The study covers Neuroprosthetics, neuroscience, and biomedical engineering discipline, concerned with developing neural prostheses. Neural prostheses are the assistive devices that can restore functions lost because of neural damage by substituting motor, sensory, or cognitive modality. Growing healthcare awareness all over the globe, rising prevalence of chronic diseases, rise in the number of patients with nerve injuries and neurological diseases, an increasing number of road mishaps and accidents elevating the number of amputation cases, and rising hearing loss incidences, are some of the key factors propelling Neuroprosthetics market growth in the industry. However, non-favorable reimbursement scenarios, high cost of neuroprosthetics, lack of skilled professionals, and availability of advanced alternative treatment options are the major hindrance for Neuroprosthetics market growth during 2019-2026.
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The Neuroprosthetics market is much fragmented, and major players are adopting various techniques to grow their range of product offerings. For instance, In June, Medtronic, a medical device company, announced a new outcomes-based agreement with Aetna, one of the largest healthcare company in the States. The agreement focuses on patients who rely on multiple daily insulin injections for type 1 and type 2 diabetes. The agreement is a dedication for the smooth transition of Aetna members multiple daily injections to a Medtronic insulin pump.
Key participants include:
Segments covered in the report
For the purpose of this study, Reports and Data have segmented the Neuroprosthetics market on the basis of type, technology type, application, and region
Type (Revenue, USD Million; 2016–2026)
Technology Type (Revenue, USD Million; 2016–2026)
Application Type (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
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Further key findings from the report suggest
Table of content:
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise Chapter 2. Executive Summary 2.1. Summary Snapshot, 2018 – 2026 Chapter 3. Indicative Metrics 3.1. Rising prevalence of chronic diseases 3.2. Increasing incidences of neurological disorders Chapter 4. Neuroprosthetics Segmentation & Impact Analysis 4.1. Neuroprosthetics Segmentation Analysis 4.2. Neuroprosthetics Market Value Chain Analysis, 2016-2026
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Chapter 10. Company Profiles 10.1. Second Site 10.1.1. Company Overview 10.1.2. Financial Performance 10.1.3. Product Length Benchmarking 10.1.4. Strategic Initiatives 10.2. Boston Scientific Corporation 10.2.1. Company Overview 10.2.2. Financial Performance 10.2.3. Product Length Benchmarking 10.2.4. Strategic Initiatives 10.3. Medtronic, Inc. 10.3.1. Company Overview 10.3.2. Financial Performance 10.3.3. Product Length Benchmarking 10.3.4. Strategic Initiatives 10.4. Neuropace 10.4.1. Company Overview 10.4.2. Financial Performance 10.4.3. Product Length Benchmarking 10.4.4. Strategic Initiatives 10.5. Cochlear Limited 10.5.1. Company Overview 10.5.2. Financial Performance 10.5.3. Product Length Benchmarking 10.5.4. Strategic Initiatives 10.6. Abbott 10.6.1. Company Overview 10.6.2. Financial Performance 10.6.3. Product Length Benchmarking 10.6.4. Strategic Initiatives 10.7. Sonova 10.7.1. Company Overview 10.7.2. Financial Performance 10.7.3. Product Length Benchmarking 10.7.4. Strategic Initiatives 10.8. NeuroPace, Inc. 10.8.1. Company Overview 10.8.2. Financial Performance 10.8.3. Product Length Benchmarking
Continued….
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