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 device called neurotechnology is utilized to track brain activity. Utilizing electrical devices, this technology enhances, regulates, and repairs brain processes. The common design aims of neurotechnologies include using brain activity readings to control external devices, such as neuroprosthetics, and using neuromodulation to alter neural activity to restore neural functions damaged by neurological illnesses. Neurotechnologies include, for example, brain-computer interfaces such as cochlear implants and retinal implants, deep brain stimulation, transcranial magnetic stimulation, and visual stimulation based on optogenetics and phytopharmacology.
Top Key Players Covered In Neurotechnology Market
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.
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Segmentation Analysis of the Neurotechnology Market
By Type:
Neurostimulation is expected to have the maximum market share in neurotechnology. Neurostimulation is the most popular and purposeful modulation for monitoring the activity of the nervous system. It is the technology that improves the quality of those people who suffer from severe paralyzing, losses various sense organs, and permanent reduction of severe chronic pain.
By Application:
diagnosis holds the largest share of the neurotechnology market. The diagnosis of neurological disorders helps doctors to decide the option for treatment and prevent future health risks to patients. The physician and researcher use various diagnostic imaging techniques, chemicals, and metabolic tests for the detection, management, and treatment of neurological diseases.
By Type
- Neurostimulation
- Imaging Modalities
- Neurological Implants
- Cranial Surface Measurement
- Others
By Application
- Diagnostic Centers
- Ambulatory Surgical Centers
- Hospitals
- Clinics, Others
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Regional Analysis Of The Neurotechnology Market
North America is the dominating country in the neurotechnology market owing to the growing prevalence of neurological disorders. The rising aging population, unhealthy eating habits, and hectic lifestyles are the common causes of neurological disorders. According to Statista, 32.51 million people smoked cigarettes in 2020. Cigarette smoking is the major cause of neurological disorders. The following figure shows the number of Parkinson's disease deaths in the U.S. in 2020 by state.
By Region
- 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)
𝐑𝐞𝐩𝐨𝐫𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐑𝐞𝐚𝐬𝐨𝐧𝐬:
- a qualitative and quantitative study based on segmentation that includes both economic and non-economic factors
- Data on value for each section and sub-segment
- Indicates the region and segment that is likely to expand the fastest and dominate the.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the within each region.
- The competitive landscape includes the top players' rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
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