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Neurotech Devices Market Size

Report ID: GMI4559
Published Date: Nov 2023
Report Format: PDF

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Neurotech Devices Market Size

Neurotech Devices Market size was valued at USD 12.1 billion in 2022 and is estimated to reach USD 42.1 billion by 2032

Neurotech devices are type of devices that can directly monitor and/or stimulate the nervous system. These devices are mainly used for research purposes including brain imaging and brain implants to gather information regarding mental conditions. Surging incidence of neurological diseases worldwide is anticipated to foster the market demand for neurotech devices over the analysis timeframe. For instance, according to Parkinson’s Foundation data, more than 10 million people globally are living with Parkinson’s disease (PD)

Technological advancements in the field of neurotech devices and brain implants is anticipated to drive the market expansion. These advancements include robot-assisted implantation, multi-target stimulation, rechargeable implantable pulse generators, improved microelectrode designs, and personalized directed programming. Owing to these developments, neurotech devices are showing improved efficacy and symptomatic relief in patients suffering from Parkinson’s, as compared to the traditional methods

Neurotech Devices Market Report Attributes
Report Attribute	Details
Base Year:	2022
Neurotech Devices Market Size in 2022:	USD 12.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	13.8%
2032 Value Projection:	USD 42.1 Billion
Historical Data for:	2018 to 2022
No. of Pages:	195
Tables, Charts & Figures:	241
Segments covered:	Product Type, Condition, End-use, and Region
Growth Drivers:	Rising prevalence of neurological disorders across the globe Technological advancements in neurotech devices Surging number of elderly population base suffering with neurological disorders Increasing awareness and funding in neurotech industry
Pitfalls & Challenges:	Lack of skilled healthcare practitioners

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Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

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