Neuroprosthetics Market Trends 2021 | Segmentation, Outlook,
Industry Report to 2027
Neuroprosthetics also known as neural prosthetics is a biomedical device that is designed to
provide a medium to the central nervous system to interact with the external environment or
receive a signal from the external world. These devices are widely used to overcome neural
related problem due to diseases or spinal cord injuries. The incidence of neural disease like
Parkinson’s disease has increased the Neuroprosthetics market significantly. According to
Parkinson Association of Carolinas, approximately seven to ten million people are living with
Parkinson disease across the globe. The incidence of neural diseases like Parkinson and epilepsy
are the major driving factor of the market. Moreover, the population across the globe is now
opting for spinal cord injury treatment due to the advent of Neuroprosthetics devices. Besides,
these increase in geriatric population is also one of the major driving factors. The cost of
Neuroprosthetics devices is high and it requires extensive training and skills to operate the
devices, these two factor together restraining the growth of the market. However, government
investment and advancement in computer science and biomedical technologies will drive the
future market of Neuroprosthetics.
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Geographically market is divided into North America, Asia Pacific, Europe and Rest of the world.
North America has ruled the Neuroprosthetics market in the past few years due to the presence
of major players as well as the region has most advanced healthcare technology and
infrastructure. APAC region will grow significantly in the coming years, due to increased
investment in healthcare technology and infrastructure.
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GLOBAL NEUROPROSTHETICS MARKET, BY TYPE