Global Neurotech Devices Market Size study & Forecast, by Product (Neurostimulation, Neuroprostheses, Neurosensing, Neurorehabilitation Devices), by Conditions (Pain Management, Cognitive Disorders, Epilepsy, Urinary and Fecal Incontinence, Hearing Condit

Global Neurotech Devices Market Size study & Forecast, by Product (Neurostimulation, Neuroprostheses, Neurosensing, Neurorehabilitation Devices), by Conditions (Pain Management, Cognitive Disorders, Epilepsy, Urinary and Fecal Incontinence, Hearing Conditions, Parkinson’s Disease, Depression, Sleep Disorders, Essential Tremor), by End-use (Hospitals, Ambulatory Surgical Centers, Homecare Facilities) and Regional Analysis, 2022-2029

Global Neurotech Devices Market is valued approximately USD 10.90 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.5% over the forecast period 2022-2029. The neurotech devices market refers to the industry that develops and sells devices that are used to diagnose and treat neurological disorders. These devices use various technologies to interface with the nervous system, including electrical stimulation, optogenetics, and neural prosthetics. Examples of neurotech devices include brain-computer interfaces, deep brain stimulators, neurostimulators, and neuromodulators. The major driving factor for the market are rising prevalence of neurological disorders, growing geriatric population and increasing investment in research and development. Moreover, rising technological advancements and growing demand for non-invasive and minimally invasive treatments is creating lucrative growth opportunity for the market over the forecast period 2022-2029.

There has been a significant increase in the number of people affected by neurological disorders such as Alzheimer's disease, Parkinson's disease, and epilepsy. According to the World Health Organization, neurological disorders are responsible for 6.3% of the global disease burden. This has led to an increase in demand for innovative and effective treatments, which has driven the growth of the neurotech devices market. Along with this, rapid advancements in technology have led to the development of more sophisticated and effective neurotech devices. For example, the development of brain-computer interfaces has allowed paralyzed individuals to control prosthetic limbs using their thoughts. These technological advancement have increased the efficacy and scope of neurotech devices, leading to greater demand and growth in the market. However, the high cost of Neurotech Devices stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Neurotech Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominates the global neurotech devices market due to factors such as increasing prevalence of neurological disorders, rising investment in research and development, favorable regulatory framework, and advanced healthcare infrastructure. The United States has

- the largest market in North America, accounting for the majority of the regional market share. The Asia Pacific region is expected to witness the fastest growth in the neurotech devices market due to factors such as increasing prevalence of neurological disorders, rising investment in research and development, and growing healthcare infrastructure. China, Japan, and India are the major markets in the region.

Major market player included in this report are:
Medtronic
Abbott Laboratories
Boston Scientific Corporation
Cochlear Limited
Stryker Corporation
LivaNova
Nihon Kohden Corporation
NeuroPace
NeuroMetrix
BrainScope

Recent Developments in the Market:
In January 2021, Medtronic launched its latest deep brain stimulation system, the Percept PC neurostimulator, which features brain sensing technology that can record and track brain signals for more personalized therapy.
In October 2020, Abbott Laboratories received approval from the US FDA for its Infinity DBS system, a deep brain stimulation system for the treatment of Parkinson's disease.
In November 2020, Boston Scientific announced positive results from a clinical trial of its Vercise Genus deep brain stimulation system for the treatment of Parkinson's disease.
In September 2020, Cochlear Limited received approval from the US FDA for its Osia 2 bone conduction hearing implant system.
In October 2020, Stryker Corporation completed its acquisition of Wright Medical, a medical device company that specializes in orthopedics, including neurotech devices for the treatment of foot and ankle disorders.
Global Neurotech Devices Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Conditions, End-use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Product:
Neurostimulation
Neuroprostheses
Neurosensing
Neurorehabilitation Devices
By Conditions:
Pain Management
Cognitive Disorders
Epilepsy
Urinary and Fecal Incontinence
Hearing Conditions
Parkinson’s Disease
Depression
Sleep Disorders
Essential Tremor
By End-use:
Hospitals
Ambulatory Surgical Centers
Homecare Facilities

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

Medtronic
Abbott Laboratories
Boston Scientific Corporation
Cochlear Limited
Stryker Corporation
LivaNova
Nihon Kohden Corporation
NeuroPace
NeuroMetrix
BrainScope

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