FEATURED COMPANIES
- Abbott Laboratories.
- B. Braun Melsungen AG
- Johnson & Johnson
- LivaNova PLC
- Magstim Co Ltd.
- Medtronic Plc.
The growth of the global neurology devices market is driven by significant rise in geriatric population across the globe, rise in demand for minimally invasive surgeries, and development of advanced neurological devices. In addition, increase in prevalence of neurological disorders across the globe propels the demand for neurology devices, thereby supplementing the growth of the global market. In addition, rise in geriatric population poses risk for increase in incidence of neurovascular disorders (such as stroke). However, enforcement of stringent government regulations toward the approval of these devices and lack of skilled neurosurgeons are the key factors anticipated to hamper the market growth. Conversely, the introduction of new products and technological advancements in neurological devices have aided in the efficient treatment of many neurovascular disorders, which is expected to provide lucrative opportunities for market expansion during the forecast period.
The global neurological devices market is segmented into product, end user, and region. By product, the market is categorized into neurostimulation devices, neurosurgery devices, interventional neurology devices, cerebrospinal fluid management devices, and others. Depending on end user, it is classified into hospitals, neurology clinics, and ambulatory care centers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Comprehensive analysis of four regions is provided to determine the prevailing opportunities.
- Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.
KEY MARKET SEGMENTS
By Product
- Neurostimulation Devices
- Neurosurgery Devices
- Interventional Neurology Devices
- Cerebrospinal Fluid Devices
- Others
By End User
- Hospitals
- Neurology Clinics
- Ambulatory Care Centers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- Abbott Laboratories
- B. Braun Melsungen AG
- Boston Scientific Corporation
- Integra LifeSciences Holdings Corporation
- LivaNova PLC
- Johnson & Johnson
- Medtronic Plc
- Magstim Co Ltd.
- Penumbra, Inc.
- Stryker Corporation
What is the estimated value of the Global Neurological Devices Market?
What is the growth rate of the Global Neurological Devices Market?
What is the forecasted size of the Global Neurological Devices Market?
Who are the key companies in the Global Neurological Devices Market?
FEATURED COMPANIES
- Abbott Laboratories.
- B. Braun Melsungen AG
- Johnson & Johnson
- LivaNova PLC
- Magstim Co Ltd.
- Medtronic Plc.
FEATURED COMPANIES
- Abbott Laboratories.
- B. Braun Melsungen AG
- Johnson & Johnson
- LivaNova PLC
- Magstim Co Ltd.
- Medtronic Plc.
Neurology is referred to the study of diseases associated with the nervous system, which mainly comprise the brain, blood vessels, muscles, and nerves. Rapid technological improvements in neurological devices have provided relief to an unprecedented number of patients affected by neurological and psychiatric disorders. The major types of neurological devices include neurostimulation devices, neurosurgery devices, interventional neurology devices, cerebrospinal fluid management devices, and others. Furthermore, neurology devices such as neurostimulation devices make use of invasive and noninvasive methods that include the application of electrical stimulation to drive neural function within a circuit. These implantable devices target specific subcortical, cortical, spinal, cranial, and peripheral nerve structures to modify the neuronal activity, providing therapeutic effects for a myriad of neuropsychiatric disorders.
Rise in geriatric population across the globe, surge in disposable income in developing economies, improvement of healthcare infrastructure, and development of advanced technological devices for treatment & diagnosis of neurological disorders are the major factors that significantly contribute toward the growth of the global neurological market. Furthermore, surge in incidence of neurological disorders across the globe propels the market growth. However, implementation of stringent government regulations toward the approval of these devices and dearth of skilled neurosurgeons are the key factors anticipated to hamper the market growth. On the contrary, the introduction of new products and technological advancements have aided in efficient treatment of many neurovascular disorders, which is anticipated to create lucrative growth opportunities for the market during the forecast period.
By product, the cerebrospinal fluid management devices segment dominated the neurological devices market in 2018, and is anticipated to maintain its dominance during the forecast period. This is attributed to surge in usage of these devices for diagnosis of various neurological diseases. For instance, these management devices are widely being used for the diagnosis of diseases such as multiple sclerosis, myelitis, and encephalitis.
By end user, the hospital segment accounted for the majority of market share in 2018, and is anticipated to continue the trend during the forecast period. This is attributed to easy availability of neurological devices in hospital settings and preference among patients to visit hospitals for effective diagnosis & treatment of neurological devices.
Key Findings of the Study
By product, the cerebrospinal fluid management devices segment accounted for the highest market share of 30% in 2018, and is anticipated to grow at the fastest rate during the forecast period.
Region wise, North America was the major shareholder in 2018, accounting for the highest share of 42%.
Depending on end user, the neurological clinics segment is expected to grow at a CAGR of 9.0% during the forecast period.
On the basis of product, the neurosurgery devices segment dominated the market in 2018, and is anticipated to maintain its dominance during the forecast period.
Comprehensive competitive analysis and profiles of major market players such as Abbott Laboratories., B. Braun Melsungen AG, Boston Scientific Corporation., Integra LifeSciences Holdings Corporation, LivaNova PLC, Johnson & Johnson, Medtronic Plc., Magstim Co Ltd., Penumbra, Inc., and Stryker Corporation are provided in this report.
- Abbott Laboratories.
- B. Braun Melsungen AG
- Boston Scientific Corporation.
- Integra LifeSciences Holdings Corporation
- LivaNova PLC
- Johnson & Johnson
- Medtronic Plc.
- Magstim Co Ltd.
- Penumbra Inc.
- Stryker Corporation
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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