From GlobeNewswire:

Coherent Market Insights published a report on the Global Neuroprosthetics Market, predicting a value of $26.12 billion by 2030. The market is driven by the increasing prevalence of neurological disorders and technological advancements in neuroprosthetic devices. Key trends include brain-computer interface technology and minimally invasive devices. The market offers growth opportunities in Motor Neuron Disorders and Output Neural Prosthetics segments.

Recent developments in the Neuroprosthetics market include Cochlear Limited receiving FDA approval for the Nucleus 8 Sound Processor and Axoft launching a brain-machine interface with FDA breakthrough designation. The market is expected to grow at a CAGR of 10.9% from 2023 to 2030. North America is projected to dominate the market, with key players focusing on innovation and strategic collaborations for competitive advantage.

Key takeaways from the report include the dominance of Output Neural Prosthetics in the market and the effectiveness of Spinal Cord Stimulation in treating chronic pain. Motor Neuron Disorders are expected to lead in application, while Hospitals & Clinics are projected to dominate end-user segments. With a positive market outlook and focus on innovation, the Neuroprosthetics market presents opportunities for significant growth and expansion in the coming years.



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