The global neuroprosthetics market is growing due to early commercialization of pipeline products and innovative self charging neural implants in the industry. The self-charging neural implant reduces the need for costly and risky surgery, in order to replace discharge battery and controlling machinery. The motor prosthetic, a type of neuroprosthetics dominates the market. The visual neuroprosthetics segment is expected to grow with the fastest rate. The Parkinson’s disease segment is expected to grow with the fastest rate in the coming years.
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Geographically, North America is expected to dominate the global neuroprosthetics market in the coming years, due to increasing prevalence of neurological disorders and growing geriatric population. Asia-Pacific is expected to be the fastest growing regions in the global neuroprosthetics market, due to the presence of huge pool of patients and increasing geriatric population in the regions. In addition, the Asia-Pacific neuroprosthetics market is growing due to increasing healthcare expenditure, increasing awareness of healthcare, and refining healthcare infrastructure in the emerging countries, such as India and China.
Some of the companies operating in the global neuroprosthetics market are Boston Scientific Corporation, Cyberonics Inc., Cochlear Limited, NDI Medical LLC, Nervo Corporation, NeuroPace Inc., Medtronic Inc., Aleva Neuroprosthetic, Oticon Medical, St Jude Medical, Retina Implant AG, and Sonova Group.
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