Why Neurotech Will Be the Gold Rush of the 21st Century

It seems leading scientists and industry specialists are not alone on their quest to rewire the human brain. Over recent years, neurotech has also sparked interest from businesses and individuals well outside the medical sector. Now, advancements in the industry are on track to offer humans—and businesses—endless new opportunities that will not only benefit our health, but also take us beyond human limits. Neurotech is moving quickly. In 2015, the U.S. neurostimulation devices market was valued at $2 billion, and Grand View Research estimates it to exceed $12 billion by 2023. While the primary aim is to treat and banish degenerative neurological diseases, neurotech has the power to unlock and interpret the brain’s complex workings and attract a gold rush of interest in the process.   The Plight of Aging With more than 600 diseases of the nervous system, there is no denying that the potential market for neurotech is huge globally. One in four people worldwide suffers from a brain-related illness, according to Roger Dooley, and these statistics only worsen as the population ages. The World Economic Forum even estimates that one in three people is disabled by dementia after the age of 80, pointing to a critical need for further neurotech research and development. But despite the prevalence of such diseases, treatment currently remains challenging in practice. My research, which included patients with Parkinson’s Disease, found that despite the high number of patient...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news