Neuroprosthetics Market is expected to generate a revenue of USD 26.17 Billion by 2030, Globally, at 10.4% CAGR: Verified Market Research®

The factor driving the rise in Neuroprosthetics Market is the rising number of patients with neurological illnesses and nerve injuries. Additionally, rising amputation rates due to an increase in accidents would also support market expansion.

JERSEY CITY, N.J., Oct. 12, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Neuroprosthetics Market" By Technique (Spinal Cord Stimulation, Deep Brain Stimulation), By Source (Output Neural Prosthetics, Input Neural Prosthetics), By Application (Motor Neuron Disorders, Physiological Disorders), and By Geography.

As per the deep research carried out by Verified Market Research, the global Neuroprosthetics Market was valued at USD 12.8 Billion in 2022 and is projected to reach USD 26.17 Billion by 2030, growing at a CAGR of 10.4% from 2023 to 2030.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=5105

Browse in-depth TOC on "Neuroprosthetics Market"

202 - Pages
126 – Tables
37 – Figures

Global Neuroprosthetics Market Overview

Neuroprosthetics is a term used to describe a biomedically created device designed to link to the peripheral or central nervous system of people with impairments who have neurological disorders or traumas. Over the past few years, neuroprosthetics more generally known as neural or brain implants have provided the healthcare sector a substantial boost thanks to the successful realisation of their vast potential as a replacement approach for lost or damaged motor, sensory, or cognitive functions. Neuroprosthetics' primary objective is to recover lost motor functions while rehabbing the ones that are still there. A number of conditions or accidents, including spinal cord injuries, multiple sclerosis, lateral sclerosis, and strokes, can result in the loss of motor skills.

The growing number of individuals suffering from neurological disorders is currently driving the Global Neuroprosthetics Market. Parkinson's disease, which can significantly impair and disturb a person's daily life, is impacting an increasing number of people. One of the key elements contributing to this increased patient count is the fast increasing number of older persons. The expanding older population has had a huge impact on this industry, which will also fuel innovation and technical improvement in the next few years. New treatments, such as stem cell therapy, are showing significant promise in the treatment of a wide range of neurological disorders. Better reimbursement policies, more government support, growing public and private awareness campaigns, and expanding pharmaceutical availability and awareness in all countries are other drivers propelling the global neuroprosthetics market.

Key Developments

• In October 2021, Cochlear Limited, which is the global leader in implantable hearing solutions, obtained the US Food and Drug Administration (FDA) approval and clearance last month for its Cochlear™ Remote Assist solution in the Nucleus® and Baha® Systems and now they are ready to start their work.
• In March 2021, Second Sight Medical Products, which is a leading developer and marketer of implantable visual prosthetics which are highly intended in order to create an artificial form of useful vision for blind individuals, receive approval from the US Food and Drug Administration (FDA) for Argus 2s Retinal Prosthesis System.
• In January 2021, Boston Scientific Corporation received the Food and Drug Administration (FDA) approval for their fourth-generation Vercise Genus Deep Brain Stimulation (DBS) System that is being used to treat the symptoms in patients with advanced Parkinson's disease.

Key Players

The major players in the market are Boston Scientific Corporation, Cochlear Limited, Medtronic, Inc., Cyberonics, Inc., NDI Medical LLC, NeuroPace, Inc., Nervo Corp., Retina Implant AG, St. Jude Medical, and Sonova Group.

Verified Market Research has segmented the Global Neuroprosthetics Market On the basis of Technique, Source, Application, and Geography.

• Neuroprosthetics Market, By Technique
• Spinal Cord Stimulation
• Deep Brain Stimulation
• Vagus Nerve Stimulation
• Sacral Nerve Stimulation
• Transcranial Magnetic Stimulation
• Neuroprosthetics Market, By Source
• Output Neural Prosthetics
• Input Neural Prosthetics
• Neuroprosthetics Market, By Application
• Motor Neuron Disorders
• Physiological Disorders
• Cognitive Disorders
• Neuroprosthetics Market, by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

Browse Related Reports:

Limb Prosthetics Market By Product Type (Upper Limb Prosthetics, Lower Limb Prosthetics), By Application (Leg Disabled People, Arm Disabled People), By End-User (Hospitals, Prosthetic Clinics, Ambulatory Surgical Centers), By Geography, And Forecast

Cardiac Prosthetic Devices Market By Product (Heart Valves, Pacemaker), By Geography, And Forecast

Prosthetics Market By Component (Upper Limb Extremity and Lower Limb Extremity), By Technology (Body Powered, Electrically Powered and Hybrid Prosthetics), By End User (Prosthetic Clinics, Hospitals and Rehabilitation Centers), By Geography, And Forecast

Carbon Fibre Composites Prosthetics Market By Product (Upper Extremity Prosthetics, Lower Extremity Prosthetics), By Application (Man, Woman, Child) By Geography, And Forecast

Top 10 Orthodontics Companies shaping smiles of individuals across the world

Visualize Neuroprosthetics Market using Verified Market Intelligence -:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us
Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: [email protected] 
Web: https://www.verifiedmarketresearch.com/ 
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/1315349/Verified_Market_Research_Logo.jpg

SOURCE Verified Market Research