3 Key Insights on the US$ 15 Bn Opportunity in Global Neuroprosthetics Market: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Driven by the Increasing Prevalence of Neurological Disorders, the Global Neuroprosthetics Market is forecasted to Cross US$ 15 Bn By 2028 says Ken Research Study. A neuroprosthetic is any device that can enhance the input or output of a neural system. The most successful neuroprosthetic devices developed to date are cochlear implants for patients with hearing impairment, and prosthetic devices for amputees. Neuroprosthetics encompass a variety of artificial devices or systems that can be used to enhance the motor, sensory, cognitive, visual, auditory, and communicative deficits that arise from acquired brain injuries. “KEN RESEARCH SHARES 3 KEY INSIGHTS ON THIS HIGH-OPPORTUNITY MARKET FROM ITS LATEST RESEARCH STUDY” 1. The Technological Advancements in Neuroprosthetics Devices Provide an Opportunity for the Market Growt According to Ken Research Analysis, the Global Neuroprosthetics Market was valued at ~US$ 5 billion in 2017. It is estimated to be ~US$ 8 billion in 2022 and is forecasted to reach a market size of ~US$ 15 billion by 2028, growing at a CAGR of ~12% from 2022 to 2028. The rising R&D investments for the development of new devices and products with innovative technologies to devise effective treatment plans for neurological diseases are expected to boost the growth of the market. The introduction of technologically advanced devices, such as Local Field Potentials (LFPs), automated and movable probes, MRIs, and images featuring surgical implants, is boosting the market for neuroprosthetics. The manufacturers are constantly developing next-generation technologies to enhance therapeutic interventions used in treatments to restore impaired neurological functions. Several initiatives are being undertaken by the government and various organizations to support research in the field of cochlear implantation. For instance, in March 2022, members of the American Cochlear Implant (ACI) Alliance shared research and clinical practice with the other community members at the 2022 American Academy of Audiology (AAA) conference. 2. Increasing Number of Patients Suffering from Neurological Disorders is Fuelling the Market Worldwide The demand for neuroprosthetics is primarily attributed to the rising patient population suffering from neurological disorders and nerve injuries. The growing burden of hearing and vision loss among the global population, and increasing amputation cases due to the rising number of accidents & injuries are anticipated to boost the market growth. One of the most common neurodegenerative diseases is Alzheimer’s disease, which affects an estimated 5.7 million Americans over the age of 65. In fact, the disease is known to affect around 10% of the global population above 65 years. Request for Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTY1 According to the Hearing Loss Association of America, 2020, nearly 48 million Americans had some degree of hearing loss, and an estimated 50 million Americans experience tinnitus, which is ringing in the ears, among which 90% have hearing loss. Additionally, nearly 2 to 3 out of every 1,000 children in the United States are born with a detectable level of hearing loss in one or both ears. Advanced products such as brain-computer interfaces (BCIs), retinal implants, deep brain stimulators (DBSs), and spinal cord stimulators (SCSs) are becoming increasingly available, which enhances the demand for neuroprosthetics. The graph below represents the percentage of USA population with hearing loss. 3. High Costs Associated with the Surgery Implantation of Neuroprosthetics Devices is the Major Challenge Faced by the Market Cochlear implants are more expensive than hearing aids. The high cost of surgery and difficulty in maintenance is anticipated to pose a significant challenge during the forecast time. The high cost of the implants, as well as the problem of maintaining them, has hampered market growth. Moreover, throughout the projected amount, a lack of skilled personnel and therefore the availability of other treatment alternatives will probably impede market growth to a particular extent. The high cost of neuroprosthetic products is challenging the Global Neuroprosthetics Market growth. A majority of insurance companies do not pay reimbursements for these devices. Though health insurance covers prosthetic limbs, the coverage is highly dependent on the amputation level and the physical condition of the patient. Moreover, the initial cost of using neuroprosthetics for treatment is high, especially for implantable devices. For instance, the cost of computer-assisted devices ranges from US$ 20,000 to US$ 30,000. In addition, the cost of a neural prosthetic arm can be up to US$ 100,000. A normal prosthetic limb costs between US$ 3,000 and US$ 30,000. The cost of manufacturing a fully functional modular prosthetic limb is approximately US$ 500,000. The table below represents the high cost of cochlear implant surgeries in 2022: Key Topics Covered in the Report Snapshot of Global Neuroprosthetics Market Industry Value Chain and Ecosystem Analysis Market size and Segmentation of the Global Neuroprosthetics Market Historic Growth of Overall Global Neuroprosthetics Market and Segments Competition Scenario of the Market and Key Developments of Competitors Porter’s 5 Forces Analysis of Global Neuroprosthetics Industry Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors Covid-19 Impact on the Overall Global Neuroprosthetics Market Future Market Forecast and Growth Rates of the Global Neuroprosthetics Market and Segments Analysis of Global Neuroprosthetics Market Major Production/Supply and Consumption/Demand Hubs within Each Region Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments Overview of Notable Emerging Competitor Companies within Each Region Notable Key Players Mentioned in the Report Abbott Boston Scientific Corporation Cochlear Ltd Cyberonics, Inc. LivaNova PLC Medtronic NeuroPace, Inc.. BioRegio STERN Management GmbH Second Sight Sonova Notable Emerging Companies Mentioned in the Report iotaMotion, Inc. Hemideina TODOC Co., Ltd. ADVANCED OPTRONICS Restohearing Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report Neuroprosthetics Manufacturers Neuroprosthetics Suppliers Output Neural Prosthetics Manufacturers Input Neural Prosthetics Manufacturers Deep Brain Stimulation Neuroprosthetics Manufacturers Vagus Nerve Stimulation Neuroprosthetics Manufacturers Spinal Cord Stimulation Neuroprosthetics Manufacturers Sacral Nerve Stimulation Neuroprosthetics Manufacturers Emerging and Startup Companies in Neuroprosthetics Different Types of Neuroprosthetics Manufacturing Hubs Government Ministries and Departments of Healthcare Industry Healthcare Regulatory Organizations Healthcare Research Institutes Importers and Distributors of Neuroprosthetics Financial Organizations focused on Healthcare Industry PE and VC Firms focused on Healthcare Industry For more insights on the market intelligence, refer to the link below: – Global Neuroprosthetics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research Tags: Abbott Neuroprosthetics Market, Africa Neuroprosthetics Market, Asia-Pacific Neuroprosthetics Market, BioRegio STERN Management GmbH Neuroprosthetics Market, Boston Scientific Corporation Neuroprosthetics Market, Challenges in Growth of Neuroprosthetics Market, Cochlear Ltd Neuroprosthetics Market, Competitors in Neuroprosthetics Market, Cyberonics, Demand for Neuroprosthetics in Consumer Sector, Emerging Companies in Neuroprosthetics Market, Europe Neuroprosthetics Market, Global Neuroprosthetics Demand, Global Neuroprosthetics Industry, Global Neuroprosthetics Market, Global Neuroprosthetics Sector, Global Players in Neuroprosthetics Market, Inc. Neuroprosthetics Market, Investment in Neuroprosthetics Startups, Latin America Neuroprosthetics Market, LivaNova PLC Neuroprosthetics Market, Major Companies in Neuroprosthetics Industry, Medtronic Neuroprosthetics Market, Middle East Neuroprosthetics Market, Neural Prosthetics Market, NeuroPace, Neuroprosthetic Devices Market, Neuroprosthetic Interfaces Market, Neuroprosthetics Competitor Analysis, Neuroprosthetics Industry, Neuroprosthetics Manufacturers Comparison, Neuroprosthetics Market, North America Neuroprosthetics Market, Opportunities in Neuroprosthetics Market, Second Sight Neuroprosthetics Market, Sonova Neuroprosthetics Market, Suppliers of Neuroprosthetics Components, Top Neuroprosthetics Companies