Neuroprosthetics, also well-known as neural prosthetics, are devices implanted in the body that arouse the function of an organ or organ system that has failed owing to disease or injury. It is a brain-computer interface device utilized to detect and translate neural activity into the command sequences for prostheses.
Its primary focus is to restore
functionality in patients suffering from loss of motor control likewise spinal
cord injury, multiple sclerosis, amyotrophic lateral sclerosis, and stroke. The
foremost types of neuroprosthetics include sensory implants, motor prosthetics,
and cognitive prosthetics.
According to the report analysis, ‘Global Neuroprosthetics Market Report 2020 by Key
Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based
on 2020 COVID-19 Worldwide Spread)’ states that Boston Scientific,
Soterix Medical, Neuro Pace, Cochlear, St. Jude Medical, Medtronic, Oticon
Medical, Brain Gate, Sonova, Aleva Neuroprosthetics, Autonomic Technologies,
Electro Core, MED-EL, Mainstay Medical, Nevro, Atrotech and many more are the
key companies which presently functioning in the global neuroprosthetics market
more proficiently for keep maintaining the governing position, leading the
highest market growth, generating the highest percentage of revenue, obtaining
the competitive edge and registering the great value of market share by
analysing the strategies and policies of government as well as contenders,
increasing the features and benefits of neuroprosthetics, spreading the
awareness connected to the benefits and applications of neuroprosthetics,
decreasing the associated prices of such, delivering the better customer
satisfaction, establishing the several research and development programs,
implementing the policies of profit making and strategies of expansion and
improving the qualitative and quantitative measures of such.
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The foremost factors propelling the growth of this market are the growing number of patients suffering from neurological disorders and nerve injury, augmenting the incidence of hearing loss, growing cases of amputations due to the increasing the number of accidents & injuries, and augmenting the prevalence of diabetes.
Some key operations of
neuroprosthetics include delivering the hearing, seeing, feeling abilities,
pain relief, and restoring damaged brain cells. Cochlear implant is among the
most prominent neuroprosthetics. In addition, auditory brain stem implant is
also a neuroprosthetic meant to enhance the hearing damage.
North America registers the global
market for neuroprosthetics due to the growing incidence of neurological
diseases and growth in geriatric population across the region. Asia is
predicted to display a high growth rate in the next five years in the global
neuroprosthetics market, with China and India being the fastest increasing
markets in the Asia-Pacific region.
Not only has this, the effective
growth in prevalence of neurological diseases such as traumatic brain injury,
stroke and Parkinson’s disease, augment in geriatric population, development in
healthcare expenditure, augmenting the awareness about healthcare, speedy
progression of technology, and growing number of initiatives by various
governments and government associations are some foremost factors propelling
growth of the global neuroprosthetics market. Therefore, it is predicted that
during the near period the market of neuroprosthetics will augment more
proficiently over the review duration.
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Global Neuroprosthetics Market
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