|Neuroprosthetics Market To Reach USD 15.8 Billion By 2026 | Reports And Data|
|By GLOBE NEWSWIRE|
|Tuesday, 14 January 2020 05:01|
New York, Jan. 14, 2020 (GLOBE NEWSWIRE)
New York, Jan. 14, 2020 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global Neuroprosthetics market was valued at USD 6.1 Billion in 2018 and is expected to reach USD 15.8 Billion by the year 2026, at a CAGR of 12.4%. The study covers Neuroprosthetics, neuroscience, and biomedical engineering discipline, concerned with developing neural prostheses. Neural prostheses are the assistive devices that can restore functions lost because of neural damage by substituting motor, sensory, or cognitive modality. Growing healthcare awareness all over the globe, rising prevalence of chronic diseases, rise in the number of patients with nerve injuries and neurological diseases, an increasing number of road mishaps and accidents elevating the number of amputation cases, and rising hearing loss incidences, are some of the key factors propelling Neuroprosthetics market growth in the industry.
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However, non-favorable reimbursement scenarios, high cost of neuroprosthetics, lack of skilled professionals, and availability of advanced alternative treatment options are the major hindrance for Neuroprosthetics market growth during 2019-2026. The Neuroprosthetics market is much fragmented, and major players are adopting various techniques to grow their range of product offerings. For instance, In June, Medtronic, a medical device company, announced a new outcomes-based agreement with Aetna, one of the largest healthcare company in the States. The agreement focuses on patients who rely on multiple daily insulin injections for type 1 and type 2 diabetes. The agreement is a dedication for the smooth transition of Aetna members multiple daily injections to a Medtronic insulin pump.
Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/neuroprosthetics-market
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an in-depth analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Neuroprosthetics market on the basis of type, technology type, application, and region:
Type (Revenue, USD Million; 2016–2026)
Technology Type (Revenue, USD Million; 2016–2026)
Application Type (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
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