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Neurology Devices Market - Growth, Trends, and Forecast (2020-2025)

  • ID: 4591679
  • Report
  • May 2020
  • Region: Global
  • 116 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Johnson and Johnson
  • Medtronic PLC
  • Nihon Kohden Corporation
  • Penumbra Inc.
  • MORE
The key factors propelling the growth of the market are the increasing incidence of neurological disorders, huge investments by private players in neurology devices, increase in R&D in the field of neurotherapies, and rising aging population.

The growth of the global neurology devices market is attributed to the increasing incidence of neurological disorders that include brain aneurysms, brain tumors, epilepsy, memory disorders, multiple sclerosis, Parkinson’s disease, peripheral neuropathy, post-herpetic neuralgia, spinal cord tumor, and stroke.

The increasing healthcare spending, increasing foreign direct investment by global medical device manufactures, and increasing neurological disease prevalence are expected to drive the overall market growth.

Key Market Trends

Sacral Nerve Stimulation Devices is the Segment under Neurostimulation Devices that is Expected to Grow Fastest during the Forecast Period

The sacral nerve stimulation devices are mostly used for patients for whom drug therapy or other types of medications are not successful. It is performed with the help of a small device, which is capable of sending electrical impulses to the targeted sacral nerves located in the lower back region. These devices are found to be successful in treating bladder problems. Hence, with increasing incidences of overactive bladder, the sacral nerve stimulation devices segment is expected to grow during the forecast period.

The deep brain stimulation devices are also being used to perform deep brain stimulation procedures, by implanting a medical device that is capable of sending electrical impulses to specific target areas in the brain. These devices are generally used to treat neuropsychiatric disorders and are effectively used in treating various other neurological disorders, like Parkinson's disease, essential tremor, dystonia, chronic pain, major depression, and obsessive-compulsive disorder.

Asia-Pacific Registered the Fastest Growth and is Expected to Follow the Same Trend over the Forecast Period
  • The Asia-Pacific region is expected to grow, due to the presence of high unmet medical needs, coupled with rapidly rising healthcare R&D investments and growing medical expenditures in emerging economies, such as India and China. There are also a number of government initiatives that are expected to increase over the forecast period.
  • Moreover united states is expected to have the major share in the market, due to the factors such as the number of people with neurological conditions is expected to grow sharply over the forecast period, due to improved survival rates, betterment of general healthcare and infection control, increased longevity, and improved diagnostic techniques. According to a report published by the Alzheimer’s Association, it was estimated that around 5.7 million people in the United States were affected by Alzheimer’s disease (AD) in 2018, which was a drastic increase, when compared to the 2016 statistics, where 476,000 people were identified with Alzheimer’s disease.
Competitive Landscape

There are market participants involved in R&D for the development of advanced stimulation and neuromodulation techniques with minimally invasive procedures that are more preferable to the patients. Furthermore, many private companies are showing great interest in developing novel neurological devices to earn huge profits. In the coming years few other players are expected to enter into the market.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Johnson and Johnson
  • Medtronic PLC
  • Nihon Kohden Corporation
  • Penumbra Inc.
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Incidence of Neurological Disorders
4.2.2 Huge Investments by Private Players in Neurology Devices
4.2.3 Increase in R&D in the Field of Neurotherapies
4.3 Market Restraints
4.3.1 High Cost of Equipment
4.3.2 Stringent FDA Validation and Guidelines for New Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Type of Device
5.1.1 Cerebrospinal Fluid Management Devices
5.1.2 Interventional Neurology Devices
5.1.2.1 Interventional/Surgical Simulators
5.1.2.2 Neurothrombectomy Devices
5.1.2.3 Carotid Artery Stents
5.1.2.4 Embolic Coils
5.1.2.5 Support Devices
5.1.3 Neurosurgery Devices
5.1.3.1 Neuroendoscopes
5.1.3.2 Stereotactic Systems
5.1.3.3 Aneurysm Clips
5.1.3.4 Other Neurosurgery Devices
5.1.4 Neurostimulation Devices
5.1.4.1 Spinal Cord Stimulation Devices
5.1.4.2 Deep Brain Stimulation Devices
5.1.4.3 Sacral Nerve Stimulation Devices
5.1.4.4 Other Neurostimulation Devices
5.1.5 Other Types of Devices
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Italy
5.2.2.5 Spain
5.2.2.6 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 South korea
5.2.3.6 Rest of Asia-Pacific
5.2.4 Middle East & Africa
5.2.4.1 GCC
5.2.4.2 South Africa
5.2.4.3 Rest of Middle East & Africa
5.2.5 South America
5.2.5.1 Brazil
5.2.5.2 Argentina
5.2.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Boston Scientific Corporation
6.1.3 Stryker Corporation
6.1.4 Medtronic PLC
6.1.5 Abbott Laboratories
6.1.6 Johnson and Johnson
6.1.7 Smith & Nephew
6.1.8 MicroPort Scientific Corporation
6.1.9 Nihon Kohden Corporation
6.1.10 Penumbra Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • B. Braun Melsungen AG
  • Boston Scientific Corporation
  • Stryker Corporation
  • Medtronic PLC
  • Abbott Laboratories
  • Johnson and Johnson
  • Smith & Nephew
  • MicroPort Scientific Corporation
  • Nihon Kohden Corporation
  • Penumbra Inc.
Note: Product cover images may vary from those shown
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