The Global Neurotechnology Market size is expected to grow from USD 12.88 billion in 2022 to USD 30.92 billion by 2030, at a CAGR of 11.57% during the forecast period (2023-2030).
A cutting-edge technique for tracking brain activity is called neurotechnology. In order to restore, regulate, and enhance brain processes, this technology is combined with technological devices. Neurotechnologies share common design objectives, such as using brain activity readings to control external devices, such as neuroprosthetics, or altering cerebral activity through neuromodulation to restore neural functions damaged by neurological illnesses. Brain-computer interfaces such as cochlear implants and retinal implants, deep brain stimulation, transcranial magnetic stimulation, and photo stimulation based on optogenetics and phytopharmacology are examples of neurotechnologies. For the treatment of neurological illnesses, a variety of cutting-edge neurotechnologies are employed, including brain mapping methods, unique osteogenic implants, microfluidic technologies, and neuromodulation technologies. It is projected that the market for neurotechnology will rise as neurological problems become more common.
This Neurotechnology Market Report includes information on the manufacturer, such as shipping, pricing, revenue, interview records, gross profit, and company distribution, among other things. These details assist consumers to learn more about their rivals. Likewise, the report outlines the significant difficulties that would have an influence market growth. They also give extensive facts about the industry's potential to key stakeholders, allowing them to expand their industries and increase sales in certain industries. The research will assist companies who are already in or want to enter this market in analyzing the many facets of this domain before investing in or growing their industry in the Neurotechnology markets.
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Neurotechnology Market: Key Players
- General Electric Company (The U.S)
- Siemens Healthineers (Germany)
- Koninklijke Philips N.V. (Netherlands)
- Toshiba Medical Systems Corporation (Japan)
- Shimadzu Corporation (Japan)
- Hitachi Medical Corporation (Japan)
- Elekta AB (Sweden)
- Tristan Technologies, Inc. (The U.S)
- Natus Medical Incorporated (The U.S)
- Magstim (UK), and other major players.
Neurotechnology Market: Opportunities and Challenges
The launch of new products that advance technology is the main factor driving the growth of the global neurotechnology market. The market for neurotechnology is also expanding due to other factors including rising incidence and prevalence of neurological illnesses and rising grants and financing from public and private entities. For example, the United Nations (UN) estimates that approximately 1 billion people have neurological illnesses of some kind. However, the primary barriers to the expansion of the neurotechnology sector are things like the expensive cost of the devices, the intricate regulatory environment, and moral issues like privacy and cognitive liberty.
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The global neurotechnology market can be segmented on the basis of product type, end-user, and region.
By Type
· Neurostimulation
· Imaging Modalities
· Neurological Implants
· Cranial Surface Measurement
· Others
By Application
· Diagnostic Centers
· Ambulatory Surgical Centers
· Hospitals
· Clinics, Others
An in-depth study of the Neurotechnology industry for the years 2024–2032 is provided in the latest research. North America, Europe, Asia-Pacific, South America, the Middle East, and Africa are only some of the regions included in the report's segmented and regional analyses. The research also includes key insights including market trends and potential opportunities based on these major insights. All these quantitative data, such as market size and revenue forecasts, and qualitative data, such as customers' values, needs, and buying inclinations, are integral parts of any thorough market analysis.
Neurotechnology Market: Region Wise Outlook
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Market for Neurotechnology: Regional Perspective
The global neurotechnology market can be divided into five geographic segments: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The market for neurotechnology is expected to grow at the fastest rate in North America, followed by Europe, due to the rising incidence and prevalence of neurological illnesses. The aging population, a sizable patient base, and rising government support for research and development are other factors propelling the neurotechnology market's expansion. The modernization of medical and research facilities, together with government initiatives such as awarding grants and fellowships to researchers, are expected to propel the Asia-Pacific market to grow at the quickest compound annual growth rate (CAGR) over the forecast period. However, areas like the Middle East and Latin America and africa show a steadt gowth during the forecast year owing to the scarcity of skilled professional and inadequate presence of research infrastructure.
Key Benefits of Neurotechnology Market Research:
- Research Report covers the Industry drivers, restraints, opportunities and challenges
- Competitive landscape & strategies of leading key players
- Potential & niche segments and regional analysis exhibiting promising growth covered in the study
- Recent industry trends and market developments
- Research provides historical, current, and projected market size & share, in terms of value
- Market intelligence to enable effective decision making
- Growth opportunities and trend analysis
- Covid-19 Impact analysis and analysis to Neurotechnology market
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