Global Neuroprosthetics Market Outlook to 2023: CAGR is Projected to Grow at 12.4% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Neuroprosthetics Market - Segmented by Type, Technique, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The global neuroprosthetics market is expected to grow at a CAGR of 12.4% over the forecast period 2018-2023.

Increasing Incidence of Hearing Loss

It is expected that by 2020, more than 44 million American adults aged 20 or older are expected to suffer from hearing loss. Due to increasingly aging sections of the population, this number is projected to reach 73.5 million by 2060. The total population with hearing disorders in the United States will, therefore, increase from about 15% of adults to 22%.

Research has also forecasted higher rates of hearing loss, partly due to the increasing exposure to loud sounds played through headphones and ear buds. Furthermore, other means of exposure to loud sounds in busy cities or around loud machinery may lead to a higher rate of hearing loss.

Scientists continue to work on the technology of the external machinery and the design and positioning of the internal electrode to improve performance and provide more naturalistic sound. This will help drive the market in the forecast years.

Along with this, other factors, such as the increasing number of patients suffering from neurological disorders and nerve injury and increasing cases of amputation due to the rising number of accidents & injuries will further drive the market in the future.

Notable Highlights

• High Cost of Neuroprosthetics & Unfavorable Reimbursement Scenario is Hampering Growth
  
• North America to Maintain the Lead in the Global Market

Key Developments in the Market

• The U.S. Food and Drug Administration approved a remote feature for follow-up programming sessions for the Nucleus Cochlear Implant System through a telemedicine platform. The remote programming feature is indicated for patients who have had six months of experience with their cochlear implant sound processor and are comfortable with the programming process.
• Researchers report amputees are able to control a robotic arm with help of brain implants and BMI technology. The study details how brain areas that control both the intact arm and amputated limb can create new connections and learn to control the robotic arm.

Companies Featured

• Abbott
• Boston Scientific
• Cochlear
• Livanova
• Med-El
• Medtronic
• Nevro
• Retina Implant
• Second Sight
• Sonova

Key Topics Covered

1. Introduction

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

7. Market Segmentation

8. Competitive Landscape

9. Key Players

10. Future of the Market

For more information about this report visit https://www.researchandmarkets.com/research/98hpvc/global?w=4