Neuroprosthetics Market is expected to reach USD 18.04 Billion by 2026 from USD 5.46 Billion in 2016 at a CAGR of 12.7% (Detailed analysis of the market CAGR is provided in the report). Neuroprosthetics are biomedically engineered device designed to be linked to linked with a peripheral or central nervous system and to enhance the cognitive, motor/sensory abilities of an organism.
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The neuroprosthetics market the basis of type has been segmented into output neural prosthetics and input neural prosthetics. Output neural prosthetics sub-segmented into motor disorders and cognitive disorders. The motor disorders segment is expected to be one of the major contributors to the market growth due to an increasing prevalence of Parkinson’s disease and epilepsy. The market based on applications, the physiological disorders market is sub-segmented into auditory processing disorders, ophthalmic disorders, cardiovascular disorders, and urology disorders. The auditory processing disorders sub-segment is expected to hold one of the largest shares for the market due to an increasing number of people suffering from hearing losses and problems. Geographically, Neuroprosthetics Market market has been segmented into Asia-Pacific, North America, Europe, Middle-East & Africa, and Latin America. North America is expected to be one of the largest markets for the neuroprosthetics. Europe and the Asia Pacific are the largest markets after North America respectively. The increasing number of patients suffering from neurological disorders and nerve injury and increasing prevalence of hearing losses are some of the factors driving market growth. Key Highlights: • Neuroprosthetics market analysis and forecast, in terms of volume and value. • Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the neuroprosthetics market. • Neuroprosthetics market segmentation on the basis type, technique, application, and geography (country-wise) has been provided. • Neuroprosthetics market strategic analysis with respect to individual growth trends, future prospects along with a contribution of various sub-market stakeholders have been considered under the scope of the study. • Neuroprosthetics market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. • Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. • Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the neuroprosthetics market are also profiled. Research Methodology: The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get an unbiased idea of the market. This exercise was done at a country level to get a fair idea of the market in countries considered for this study. Later this country-specific data was accumulated to come up with regional numbers and then arrive at a global market value for Global Inspection Machines Market.
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