Neurology Devices Market

Neurology Devices Market

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raksha

Author :

Raksha Sharma

Vineet

Fact-checked by :

Vineet Pandey

Vishal

Editor :

Vishal Golekar

The global neurology devices market size was valued at USD 13.10 billion in 2022 and is projected to reach USD 19.98 billion by 2031, expanding at a CAGR of 4.8% between 2023 and 2031. The growth of the market is attributed to the rising prevalence of neurological diseases.

Neurology devices are used in the treatment of Alzheimer’s, Parkinson’s, seizures, ataxia, acute spinal cord injury, amyotrophic lateral sclerosis, brain cancer, cerebral aneurysm, epilepsy, and Bell’s palsy, among others. The nervous system is fundamental component in keeping the body working. All the functions body operate depends upon the messages that nerves communicate between brain, spinal cord, and the rest of our body.

Neurology Devices Market Outlook

Patients infected with the COVID-19 pandemic have apparently reportedly demonstrated neurologic symptoms, which is expected to establish a conducive climate for the growth of the market. For example, in April 2020, scientists at the union hospital and Huazhong University of science and technology in Wuhan, China, revealed that over 33% of 214 confirmed COVID-19 cases in China had neurologic indications that included acute cerebrovascular events, muscle injury, impaired, and consciousness.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing demand for minimally invasive devices is expected to boost the neurology devices market.

  • Growing geriatric population is estimated to accelerate the growth of the market.

  • Increasing technological advanced devices is one of the key factors driving the market growth.

  • Government initiatives to control the neurological disorder and policies in favor of the industry can foster the market growth.

Scope of the Report

The report on the neurology devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Neurology devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Type of Devices (Cerebrospinal Fluid Management Devices, Interventional Neurology Devices [Interventional/Surgical Simulators, Neurothrombectomy Devices, Carotid Artery Stents, Embolic Coils, and Support Devices], Neurosurgery Devices [Neuroendoscopes, Stereotactic Systems, Aneurysm Clips, and Others], Neurostimulation Devices [Spinal Cord Stimulation Devices, Deep Brain Stimulation Devices, and Sacral Nerve Stimulation Devices, and Others] and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Abbott Laboratories; Medtronic PLC; B. Braun Melsungen AG; Boston Scientific Corporation; and Stryker Corporation.

Neurology Devices Market Segment Insights

Cerebrospinal fluid management devices segment is expected to grow at a rapid pace

Based on type of devices, the market is divided into cerebrospinal fluid management devices, interventional neurology devices, neurosurgery devices, neurostimulation devices, and others. The interventional neurology devices segment is further classified as interventional/surgical simulators, neurothrombectomy devices, carotid artery stents, embolic coils, and support devices.

The neurosurgery devices segment is further classified as neuroendoscopes, stereotactic systems, aneurysm clips, and others. The neurostimulation devices segment is segregated into spinal cord stimulation devices, deep brain stimulation devices, and sacral nerve stimulation devices, and others.


 The cerebrospinal fluid management devices segment is estimated to account for a significant share of the market owing to surge in usage of these devices for diagnosis of various neurological devices. Moreover, rising adoption rate among hospitals in the diagnosis and treatment of multiple sclerosis, myelitis, encephalitis, and Alzheimer’s disease, among others can fuel the segment growth.

North America is anticipated to constitute a large market share

In terms of regions, the global market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America to account for a large market share due to increasing investment in healthcare. The market of Asia Pacific is anticipated to constitute a large market share during the forecast period owing to rapid development in healthcare infrastructure.

Neurology Devices Market Regions

Segments

The global neurology devices market has been segmented on the basis of

Type of Devices

  • Cerebrospinal Fluid Management Devices
  • Interventional Neurology Devices
    • Interventional/Surgical Simulators
    • Neurothrombectomy Devices
    • Carotid Artery Stents
    • Embolic Coils
    • Support Devices
  • Neurosurgery Devices
    • Neuroendoscopes
    • Stereotactic Systems
    • Aneurysm Clips
    • Others
  • Neurostimulation Devices
    • Spinal Cord Stimulation Devices
    • Deep Brain Stimulation Devices
    • Sacral Nerve Stimulation Devices
    • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Abbott Laboratorie
  • Medtronic PLC
  • B. Braun Melsungen AG
  • Boston Scientific Corporation
  • Stryker Corporation

Competitive Landscape

Key players competing in the neurology devices market are Abbott Laboratorie; Medtronic PLC; B. Braun Melsungen AG; Boston Scientific Corporation; and Stryker Corporation.

The market players are continuously indulging in the activities such as mergers and acquisitions, research and developments, and increasing their investments for development of innovative products.

Neurology Devices Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Neurology devices Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Neurology devices Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Neurology devices Market - Supply Chain
  4.5. Global Neurology devices Market Forecast
     4.5.1. Neurology devices Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Neurology devices Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Neurology devices Market Absolute $ Opportunity
5. Global Neurology devices Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Neurology devices Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Neurology devices Demand Share Forecast, 2019-2026
6. North America Neurology devices Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Neurology devices Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Neurology devices Demand Share Forecast, 2019-2026
7. Latin America Neurology devices Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Neurology devices Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Neurology devices Demand Share Forecast, 2019-2026
8. Europe Neurology devices Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Neurology devices Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Neurology devices Demand Share Forecast, 2019-2026
9. Asia Pacific Neurology devices Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Neurology devices Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Neurology devices Demand Share Forecast, 2019-2026
10. Middle East & Africa Neurology devices Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Neurology devices Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Neurology devices Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Neurology devices Market: Market Share Analysis
  11.2. Neurology devices Distributors and Customers
  11.3. Neurology devices Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Abbott Laboratorie Medtronic PLC B. Braun Melsungen AG Boston Scientific Corporation Stryker Corporation

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