Neuroprosthetics, also known as brain implants or neural implants, have added significant momentum in the past few years due to the massive potential to substitute any injured motor, sensory or cognitive functions. Globally, Development of efficient and advance technology and Rising demand for Oxygen Therapy Device sin the developing nations are the prime growth drivers of global Neuroprosthesis market. In addition, emerging economies such as China, India and others, will create new opportunities for global Neuroprosthetics market. However, higher cost of the research and development and ageing population with increasing risk of developing cancer is the key restraints for global Neuroprosthetics market.
North America held the largest revenue accounted for 50.0% of overall market share. The large share is attributed to the presence of factors, such as government &private funding and well-established healthcare facilities. In the European market, neuroprosthetics is expected to show an upward shift owing to the increasing government initiatives pertaining to the development of technologically advanced devices for individuals with a hearing impairment, which offer fast and speedy growth. Asia pacific is expected to be the fastest growing region due to the presence of untapped opportunities in the emerging economies.
This report identifies the Neuroprosthetics market size in for the year 2016-2021, and forecast of the same for year 2021. It also highlights the potential growth opportunities in the coming years, while also reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape, and other key aspects with respect to Neuroprosthetics market.
This report segments global Neuroprosthetics market on the basis of drug classes, and regional market as follows:
- This report is segmented into drug classes. Such as, Motor Neuroprosthetics, Auditory Neuroprosthetics/ Cochlear implants, Visual Neuroprosthetics/ Retinal implants, Cognitive Neuroprosthetics, and Others
- This report has been further segmented into major regions, which include detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region. The major countries considered under the Asia-Pacific region are India, China, South Korea and Japan. The major countries considered under the European region are Germany, U.K., France, Italy, Spain and Russia. The major countries considered under the North American region are United States, Canada and Mexico
This report identifies all the major companies operating in the global Neuroprosthetics market. Some of the major companies’ profiles in detail are as follows:
- Cochlear Limited
- Cyberonics Inc
- Medtronic Inc
- NDI Medical LLC
- NeuroPace, Inc.