The global neurological devices market was valued at $9,242.67 million in 2018, and is expected to reach $ 17,410.40 million by 2026, registering a CAGR of 8.1% from 2019 to 2026. Neurovascular devices such as cerebrospinal fluid management devices and interventional devices majorly find their application in the treatment of neurological disorders, including Alzheimer’s, tumors, depression, and stroke. Moreover, there are various other devices or instruments used for the treatment of neurological diseases such as catheters, stents, ultrasonic aspirators, and stereotactic system.
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
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Chapter 1: Introduction 1.1. Report Description 1.2. Key Benefits For Stakeholders 1.3. Research Methodology 1.3.1. Secondary Research 1.3.2. Primary Research 1.3.3. Analyst Tools And Models
Chapter 2: Executive Summary 2.1. Key Findings of The Study 2.2. Cxo Perspective
Chapter 3: Market Overview 3.1. Market Definition And Scope 3.2. Key Findings 3.2.1. Top Investment Pockets 3.3. Porter's Five Forces Analysis 3.3.1. Moderate Bargaining Power of Buyers 3.3.2. Low Bargaining Power of Suppliers 3.3.3. Moderate Threat of Substitutes 3.3.4. Low Threat of New Entrants 3.3.5. Moderate Competitive Rivalry 3.4. Top Player Positioning 3.5. Market Dynamics 3.5.1. Drivers 3.5.1.1. Surge In Neurological Disorders 3.5.1.2. Rising Demand For Noninvasive Diagnostic Techniques For Neurological Disorders 3.5.2. Restraint 3.5.2.1. Implementation of Stringent Government Regulations Towards Approval of Neurology Devices 3.5.3. Opportunity 3.5.3.1. Various Growth Opportunities In Emerging Economies
Chapter 4: Neurology Devices Market, By Product 4.1. Overview 4.1.1. Market Size And Forecast 4.2. Neurostimulation Devices 4.2.1. Key Market Trends And Opportunities 4.2.2. Market Size And Forecast 4.2.3. Market Share Analysis, By Country 4.3. Neurosurgery Device 4.3.1. Key Market Trends And Growth Opportunities 4.3.2. Market Size And Forecast 4.3.3. Market Share Analysis, By Country 4.4. Interventional Neurology Devices 4.4.1. Key Market Trends And Opportunities 4.4.2. Market Size And Forecast 4.4.3. Market Share Analysis, By Country 4.5. Cerebrospinal Fluid Management Devices 4.5.1. Key Market Trends And Opportunities 4.5.2. Market Size And Forecast 4.5.3. Market Share Analysis, By Country 4.6. Others 4.6.1. Key Market Trends And Opportunities 4.6.2. Market Size And Forecast 4.6.3. Market Share Analysis, By Country
Chapter 5: Neurology Devices Market, By End User 5.1. Overview 5.1.1. Market Size And Forecast 5.2. Hospitals 5.2.1. Market Size And Forecast 5.2.2. Market Share Analysis, By Country 5.3. Ambulatory Surgery Centers 5.3.1. Market Size And Forecast 5.3.2. Market Share Analysis, By Country 5.4. Neurology Clinics 5.4.1. Market Size And Forecast 5.4.2. Market Share Analysis, By Country
Chapter 6: Neurology Devices Market, By Region 6.1. Overview 6.1.1. Market Size And Forecast 6.2. North America 6.2.1. Key Market Trends And Opportunities 6.2.2. Market Size And Forecast, By Country 6.2.3. Market Size And Forecast, By Product 6.2.4. Market Size And Forecast, By End User 6.2.4.1. U.S. Market Size And Forecast, By Product 6.2.4.2. U.S. Market Size And Forecast, By End User 6.2.4.3. Canada Market Size And Forecast, By Product 6.2.4.4. Canada Market Size And Forecast, By End User 6.2.4.5. Mexico Market Size And Forecast, By Product 6.2.4.6. Mexico Market Size And Forecast, By End User 6.3. Europe 6.3.1. Key Growth Factors And Opportunities 6.3.2. Market Size And Forecast, By Country 6.3.3. Market Size And Forecast, By Product 6.3.4. Market Size And Forecast, By Product 6.3.4.1. Germany Market Size And Forecast, By Product 6.3.4.2. Germany Market Size And Forecast, By End User 6.3.4.3. France Market Size And Forecast, By Product 6.3.4.4. France Market Size And Forecast, By End User 6.3.4.5. UK Market Size And Forecast, By End User 6.3.4.6. UK Market Size And Forecast, By End User 6.3.4.7. Italy Market Size And Forecast, By Product 6.3.4.8. Italy Market Size And Forecast, By End User 6.3.4.10. Rest of Europe Market Size And Forecast, By Product 6.3.4.11. Rest of Europe Market Size And Forecast, By End User 6.4. Asia-Pacific 6.4.1. Key Growth Factors And Opportunities. 6.4.2. Market Size And Forecast, By Country 6.4.3. Market Size And Forecast, By Product 6.4.4. Market Size And Forecast, By End User 6.4.4.1. Japan Market Size And Forecast, By End User 6.4.4.2. Japan Market Size And Forecast, By End User 6.4.4.3. China Market Size And Forecast, By Product 6.4.4.4. China Market Size And Forecast, By End User 6.4.4.5. India Market Size And Forecast, By Product 6.4.4.6. India Market Size And Forecast, By End User 6.4.4.7. Rest of Asia-Pacific Market Size And Forecast, By Product 6.4.4.8. Rest of Asia-Pacific Market Size And Forecast, By End User 6.5. LAMEA 6.5.1. Key Growth Factors And Opportunities 6.5.2. Market Size And Forecast, By Country 6.5.3. Market Size And Forecast, By Product 6.5.4. Market Size And Forecast, By End User 6.5.4.1. Brazil Market Size And Forecast, By End User 6.5.4.2. Brazil Market Size And Forecast, By End User 6.5.4.3. Saudi Arabia Market Size And Forecast, By Product 6.5.4.4. Saudi Arabia Market Size And Forecast, By End User 6.5.5.1. South Africa Market Size And Forecast, By Product 6.5.5.2. South Africa Market Size And Forecast, By End User 6.5.5.3. Rest of LAMEA Market Size And Forecast, By Product 6.5.5.4. Rest of LAMEA Market Size And Forecast, By End User
Chapter 7: Company Profiles 7.1. Abbott Laboratories 7.1.1. Company Overview 7.1.2. Company Snapshot 7.1.3. Operating Business Segments 7.1.4. Product Portfolio 7.1.5. Business Performance 7.2. B. Braun Melsungen Ag 7.2.1. Company Overview 7.2.2. Company Snapshot 7.2.3. Operating Business Segments 7.2.4. Product Portfolio 7.2.5. Business Performance 7.3. Boston Scientific Corporation 7.3.1. Company Overview 7.3.2. Company Snapshot 7.3.3. Operating Business Segments 7.3.4. Product Portfolio 7.3.5. Business Performance 7.3.6. Key Strategic Moves And Developments 7.4. Integra Lifesciences Holdings Corporation 7.4.1. Company Overview 7.4.2. Company Snapshot 7.4.3. Operating Business Segments 7.4.4. Product Portfolio 7.4.5. Business Performance 7.4.6. Key Strategic Moves And Developments 7.5. Johnson & Johnson 7.5.1. Company Overview 7.5.2. Company Snapshot 7.5.3. Operating Business Segments 7.5.4. Product Portfolio 7.5.5. Business Performance 7.6. Livanova Plc 7.6.1. Company Overview 7.6.2. Company Snapshot 7.6.3. Operating Business Segments 7.6.4. Product Portfolio 7.6.5. Business Performance 7.6.6. Key Strategic Moves And Developments 7.7. Medtronic Plc 7.7.1. Company Overview 7.7.2. Company Snapshot 7.7.3. Operating Business Segments 7.7.4. Product Portfolio 7.7.5. Business Performance 7.7.6. Key Strategic Moves And Developments 7.8. Magstim Co Ltd. 7.8.1. Company Overview 7.8.2. Operating Business Segments 7.8.3. Product Portfolio 7.8.4. Key Strategic Moves And Developments 7.9. Penumbra, Inc. 7.9.1. Company Overview 7.9.2. Company Snapshot 7.9.3. Operating Business Segments 7.9.4. Product Portfolio 7.9.5. Business Performance 7.10. Stryker Corporation 7.10.1. Company Overview 7.10.2. Company Snapshot 7.10.3. Operating Business Segments 7.10.4. Product Portfolio 7.10.5. Business Performance
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According to the report, titled, 'Neurology Devices Market by Type and End User: Global Opportunity Analysis and Industry Forecast, 2018-2026,' the global neurology devices market size is expected to reach $17,410 million by 2026, registering a CAGR of 8.1% from 2019 to 2026, in terms of value.
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.
Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown
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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.
