Global Neuroprosthetics Market 2018-2024: Technologies, Market share and Industry Forecasts - Market is Expected to Grow at a CAGR of 12.7% - ResearchAndMarkets.com
Jun. 06, 2018
DUBLIN--(BUSINESS WIRE)--Jun 6, 2018--The "Global Neuroprosthetics Market - Technologies, Market share and Industry Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
Global neuroprosthetics market is expected to grow at a CAGR of 12.7% during forecast period 2017-2024
The key factor driving the market growth are increasing number of patients suffering from neurological disorders and nerve injury, increasing incidence of hearing loss, increasing cases of amputation due to the rising number of accidents & injuries and increasing prevalence of diabetes.
However, availability of alternative treatment options and high cost of neuroprosthetics are expected to restrain the market growth. Higher growth opportunities in emerging economies and advances in neuroprosthetic implantation are expected to provide lucrative market opportunities. Factors such as unfavorable reimbursement scenario and lack of trained professionals are expected to challenge the market growth.
North America is the dominating market region in terms of market revenue share. The key factors driving the market growth in North America are growing healthcare industry, supportive government policies, rising geriatric population, and availability of advanced technologies. Also there has been presence of leading market players such as Abbott laboratories, Boston Scientific, Medtronic, NDI Medical, etc. in North America boosting the growth of neuroprosthetics market in the region.
However, Asia Pacific is expected to emerge as the fastest growing market region during forecast period. This is due to the developing healthcare infrastructure, increasing medical tourism in India, China etc., supportive funding for the launch of novel neuroprosthetics products, and rising prevalence of neurological disorders in the Asia Pacific region.
Moreover, rising awareness among patients and increasing hearing-related problems, rising government funding for the development of healthcare infrastructure and services is contributing significantly to Asia-Pacific neuroprosthetics market.
Global neuroprosthetics market is positively influenced by the presence of leading market players, such as Sonova Holding AG (Switzerland), St. Jude Medical Inc. (U.S), Medtronic PLC (U.S), Boston Scientific Corporation (U.S), Cochlear Limited (Australia), etc. Product launch, joint venture, merger and acquisition are some of the crucial strategies adopted by the key market players to gain competitive advantage.
Key Topics Covered:
2. Market Overview
3. Market Determinants
4. Market Segmentation
5. Competitive Landscape
6. Geographic Analysis
7. Company ProfilesAbbott Laboratories (U.S.) Boston Scientific Corporation (U.S.) Cochlear Limited (Australia) Cyberonics Inc. (U.S.) Livanova Plc (UK) Med-El (Austria) Medtronic Plc (U.S.) NDI Medical Llc (U.S.) Neuropace Inc. (U.S.) Nevro (U.S.) Retina Implant AG (Germany) Second Sight (U.S.) Sonova Holding AG (Switzerland) St. Jude Medical Inc. (U.S.) Zimmer Biomet (U.S.)
For more information about this report visit https://www.researchandmarkets.com/research/75hxzc/global?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180606006090/en/
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Related Topics:Neurology Devices
INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES
SOURCE: Research and Markets
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PUB: 06/06/2018 12:48 PM/DISC: 06/06/2018 12:48 PM