Neurotechnology Global Market Is Expected To Grow At A Rate Of 13% Through 2023 – 2027
31 May, 2023
The global neurotechnology market size is expected to grow from $11.90 billion in 2022 to $13.44 billion in 2023 at a compound annual growth rate (CAGR) of 12.89%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global neurotechnology market size is expected to reach $21.97 billion in 2027 at a CAGR of 13.07%.
Global Neurotechnology Market Key Driver
The rising prevalence of neurological diseases is projected to drive the growth of the neurotechnology industry in the coming years. A neurological condition is any disorder or disease that affects the brain; notable neurological conditions include Alzheimer's disease, Parkinson's disease, epilepsy, and migraine. Neurotechnology is being utilised to diagnose and treat neurological problems in a variety of ways, including brain imaging, neurostimulation, neurofeedback, and brain-computer interfaces.
Get a sample of the global neurotechnology market reportGlobal Neurotechnology Market Segments
The global neurotechnology market is segmented:
1) By Conditions: Cognitive Disorders, Pain Treatment, Urinary And Faecal Incontinence, Epilepsy, Parkinson's Disease, Hearing Conditions, Sleep Disorder, Depression, Other Conditions
2) By Type: Imaging Modalities, Neurostimulation, Cranial Surface Measurement, Neurological Implants, Other Types
3) By End Use: Ambulatory Surgical Centers, Hospitals, Homecare Facilities, Other End Uses
4) By Geography: The regions covered in the neurotechnology market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global neurotechnology market.
Major Neurotechnology Industry Players
General Electric, Medtronic PLC, Koninklijke Philips N.V., Toshiba Medical Systems Corporation, Shimadzu Corporation, EndoStim Inc., Elekta AB, Tristan Technologies Inc., Natus Medical Incorporated, Abbott, Boston Scientific Corporation, Cleveland Medical Devices Inc., Cogentix Medical Inc., Nihon Kohden Corporation, LivaNova PLC
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Neurotechnology Market Overview
Neurotechnology is the study and interaction of the nervous system, which includes the brain and other parts of the nervous system. Neurotechnology can be used in clinical settings to influence the brain or nervous system, such as in therapeutic or rehabilitative contexts.
Neurotechnology Global Market Report 2023 provides data on the global neurotechnology market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The neurotechnology market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.