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Middle East & Africa Neuroprosthetics Market Research Report - Segmented By Type, Technology, Application, End-user, and Country (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029)

Published: March, 2023
ID: 7748
Pages: 145
Formats: report pdf report excel report power bi report ppt

MEA Neuroprosthetics Market Size (2024 to 2029)

The Neuroprosthetics market size in the Middle East and Africa was valued at USD 259.47 Million in 2024. It is expected to grow at a CAGR of 4% and be worth USD 320.27 Million by 2029.

Neural prosthetics are a class of gadgets that can substitute an engine, tangible or cognitive modality that might be affected due to an injury or an ailment. Cochlear implants are an illustration of such devices. These devices substitute the eardrum and stapes tasks while simulating the frequency analysis performed in the cochlea. The major purpose of neuroprosthetics is to recover a patient's engine capacities through the reclamation of the harmed ones.

The growth of the MEA neuroprosthetics market is majorly driven by an increase in the prevalence of chronic diseases such as diabetes, cardiovascular diseases, and neural diseases such as epilepsy, stroke, Parkinson's disease, and traumatic brain injury. Also, the growing awareness about neural prosthetics with their novel technologies and treatment available among people is driving the market's growth. In addition, the increase in the initiatives for developing advanced and well-equipped healthcare care infrastructure in the region will propel the growth in the market.

In addition, increasing investment and funding from government and non-government in research and development activities for manufacturing effective treatment and advanced therapies is expected to boost the market growth.  On the other hand, the rising prevalence of active bladder syndrome, hearing loss, and amputations, which are due to an increase in road accidents, is propelling the market growth of the Middle East & Africa neuroprosthetics market.

Furthermore, the increase in the elderly growing population, technological advancements for developing advanced and effective techniques and devices such as cochlear implants for treating neural disorders and illness. 

However, an increase in the costs of neuroprosthetics devices and equipment majorly restricts the market growth. Also, the lack of awareness among people about the benefits and functions of neural prosthetic devices hamper the development of the MEA neuroprosthetics market. In addition, the side effects related to neuroprosthetics treatment with the presence of various alternative therapies and medications available in the market also limit the market's growth. Furthermore, the lack of proper reimbursement policies in some regions and the growing preferences toward other treatments for neurological diseases also affect the market's development of neuroprosthetics.

This research report on the Middle East and Africa neuroprosthetics market has been segmented and sub-segmented into the following categories:

By Type: 

  • Motor Prosthetics
  • Auditory Prosthetics
  • Cognitive Prosthetics
  • Visual Prosthetics

By Technology: 

  • Deep Brain Stimulation
  • Vagus Nerve Stimulation
  • Spinal Cord Stimulation
  • Sacral Nerve Stimulation

By Application: 

  • Motor Neuron Disorders
  • Physiological Disorders
  • Cognitive Disorders

By End-user: 

  • Hospitals
  • Clinics

By Country: 

  • KSA
  • UAE
  • Israel
  • rest of GCC countries
  • South Africa
  • Ethiopia
  • Kenya
  • Egypt
  • Sudan
  • rest of MEA

The neuroprosthetics market in the Middle East and Africa is expected to record a moderate share in the global market during the forecast period owing to the rising population, a growing number of patients dealing with nerve damage and neurological disorders in the region. 

The UAE neuroprosthetics market is estimated to be growing at a healthy growth rate during the forecast period due to an increase in the cases of road accidents and loss of hearing capability. In addition, the growing number of road accidents in the region followed by South Africa has increased in recent years, increasing the market's growth.

The South African neuroprosthetics market has seen an increase in growth due to growing technological advancements. In addition, the rising government initiatives for developing advanced healthcare infrastructure in the region contribute to the development of the Middle East & Africa neuroprosthetics market. 

On the other hand, Saudi Arabia has experienced an increase in the growth of the neuroprosthetic market is due to the rise in the growing awareness among the people about the treatment and medications with the rise in the investment and fundings from government and non-government in research and development activities are also uplifting the growth of the MEA neuroprosthetics market.

KEY MARKET PLAYERS:

Companies playing a prominent role in the MEA neuroprosthetics market profiled in this report are Cochlear Ltd., Boston Scientific Corporation, Cyberonics Inc., Medtronic plc, NDI Medical LLC, NeuroPace Inc., St. Jude Medical Inc., Nervo Corp., Retina Implant AG, Biomet Inc., and Sonova.

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