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The global neuroprosthetics market is expected to grow from $7.1 billion in 2021 to $8.04 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The global neuroprosthetics market size is expected to grow to $13.77 billion in 2026 at a CAGR of 14.4%.

The rising patient population suffering from neurological disorders and nerve injuries is expected to propel the growth of the neuroprosthetics market.

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The neuroprosthetics market consists of sales of neuroprosthetics solutions by entities (organizations, sole traders, and partnerships) that are defined as the study of neuroprostheses and brain-machine interfaces. Neuroprosthetic devices substitute the cognitive or sensory functions that have been impaired due to nervous system disorders. They encompass various artificial devices or systems that can enhance the output or input of a neural system. The major purpose of neuroprosthetics is to allow brain-injured patients to participate in day-to-day life and improve their quality of life.

Global Neuroprosthetics Market Segments Include:

By Type: Motor Neuroprosthetics, Auditory Neuroprosthetics/ Cochlear implants, Visual Neuroprosthetics/ Retinal implants, Cognitive Neuroprosthetics

By Technique: Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, Transcranial Magnetic Stimulation

By Application: Motor Neuron Disorders, Physiological Disorders, Cognitive Disorders

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global neuroprosthetics market in 2021.

Technological advancements are shaping the neuroprosthetics market. Technological advancement is defined as the discovery of knowledge that advances technology to provide an enhanced product to customers.

TBRC’s Neuroprosthetics Market Report Covers:

Major Market Players: Medtronic plc, Cochlear Ltd, Abbott Laboratories, Boston Scientific, LivaNova Plc, Second Sight Medical Products Inc, MED-EL, Retina Implant AG, Sonova, Neuropace, NDI Medical LLC, Demant AS, Oticon, St. Jude Medical Inc, Biomet Inc.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Neuroprosthetics Global Market Report 2022  is one of a series of new reports from The Business Research Company that provides neuroprosthetics market overviews, analyzes and forecasts market size, share, neuroprosthetics market players, neuroprosthetics market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s neuroprosthetics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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