Product ID: SQMIG35A2517
Report ID:
SQMIG35A2517 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
90 |
Figures:
76
North America dominated the global neuroprosthetics market with a holding of significant market share in 2021 and is expected to maintain its dominance throughout the forecast period. Rising incidences of vision and hearing loss among people, advanced healthcare infrastructure, and presence of key market players are the major factors driving the growth of the market in the region. According to the Parkinson’s Foundation, around 1 million people are suffering with Parkinson’s diseases in the United States. Similarly, according to Centers for Disease Control and Prevention, nearly 3.4 million people in the United States have epilepsy disease including 3 million adults and 470,000 children, and the number of epilepsy among children is expected to reach a value of 1.2 million by 2030. As a result, the demand for neuroprosthetics is projected to rise during the forecast period.
Furthermore, the Asia Pacific region is anticipated to grow at fastest CAGR during the forecast period. Increasing awareness regarding health issues coupled with the rising healthcare facilities in the emerging economies such as India and China are the key factors expected to drive the market growth in the region over the forecast period. For instance, it is assumed that over 10 million people are suffering from epilepsy in India. As a result, the need for neuroprosthetics in the region is likely to boost in the coming years. Furthermore, rising adoption of advanced devices and investments from foreign companies are further expected to contribute to the growth of the market.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONNeuroprosthetics Market size was valued at USD 21.5 billion in 2019 and is poised to grow from USD 24.03 billion in 2023 to USD 54.17 billion by 2031, growing at a CAGR of 11.8% in the forecast period (2024-2031).
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQMIG35A2517