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The Neuroprosthetics Market was valued at USD 5.84 billion in 2017 and expected to grow at a CAGR of 12.4% to a USD 10.48 billion market by 2022 This report spread across 118 Pages, Profiling 12 Companies and Supported with 84 Tables and 31 figures are now available in this research.
“Output neural prosthetics segment is accounted for the largest share in the market”
The neuroprosthetics market is classified on the basis of type into input neural prosthetics and output neural prosthetics. The output neural prosthetics segment accounted for the largest share of this market segment. This growth can be attributed to the increasing neurological disorders.
“Motor neuron disorders segment is expected to register the highest CAGR during the forecast period”
The neuroprosthetics market is classified on the basis of the application into motor neuron disorders, physiological disorders, and cognitive disorders. The motor neuron disorders segment is expected to register the highest growth rate during the forecast period. This growth can be attributed to the increasing neurological disorders such as Parkinson’s disease and epilepsy.
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“North America is account for the largest regional segment in the market”
Geographically, the neuroprosthetics market is dominated by North America, followed by Europe. The North American region is estimated to account for the largest share in 2017 and the trend is expected to continue during the forecast period. The growth in this market can be attributed to the presence of major key players in the region and rising geriatric population, increasing incidence of peripheral nerve injuries, availability of government funding, and technological advancements.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type – Tier 1 – 35%, Tier 2 – 22% and Tier 3 – 43%
- By Designation – C level – 15%, Director level – 32%, Others – 53%
- By Region – North America – 32%, Europe – 27%, Asia – 22%, RoW – 19%
#Key players-Medtronic (US), Boston Scientific (US), Abbott (US), LivaNova (UK), Secong Sight (US), and Cochlear (Australia).
The report analyses the neuroprosthetics market by type, technique, application, and region. Apart from comprehensive geographic and market sizing, the report also provides the competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the report profiles companies with developments, and strategies adopted by key players to maintain and increase their shares in the market.