Neurology Devices Global Market Report 2024

The neurology devices market size has grown rapidly in recent years. It will grow from $17.82 billion in 2023 to $19.78 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth observed in the historical period can be attributed to the rapid growth in the elderly population, technological advances, economic growth in emerging markets, increased research and development (R&D) in the field, and substantial investments by private players in neurology devices.

The neurology devices market size is expected to see rapid growth in the next few years. It will grow to $29.46 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The anticipated growth in the forecast period can be attributed to the increasing elderly population, changes in lifestyle, rising awareness of neurological disorders, a rise in the burden of neurological diseases, and faster economic growth. Major trends in the forecast period include investments in developing neuromodulation devices, wearable neurology devices, new product launches, adopting mergers and acquisition strategies, and increasing research and development activities.

The demand for neurology devices is anticipated to witness growth driven by favorable government initiatives. Government initiatives aimed at overseeing and promoting the safety, quality, and advancement of medical devices can significantly impact the neurology device market. These initiatives may include policies, regulations, and programs that influence various aspects of the market, such as research and development funding, financial incentives, regulations, telemedicine expansion, public health awareness, and overall healthcare infrastructure improvement. A notable example is the Food and Drug Administration (FDA) in the US, which extended the Total Product Life Cycle Advisory Program (TAP) to cover neurological and physical medicine devices, with a focus on accelerating technological advancements in these areas. The expansion of such programs by regulatory bodies is expected to stimulate the growth of the neurology device market.

The rise in the global geriatric population has significantly contributed to the growth of the neurology devices market. Neurology devices, including MRI and CT scanners, are crucial for diagnosing age-related neurological disorders such as Alzheimer's disease, Parkinson's disease, and strokes. The World Health Organization reports that the number of people aged 60 and older was 1 billion in 2020, projected to reach 1.4 billion by 2030 and 2.1 billion by 2050. This demographic shift has led to an increased patient pool, driving demand for medical care and subsequently boosting healthcare expenditure. The growing demand for neurology devices has been a notable trend during the historic period.

Major players in the neurology devices market are focusing on the development of digital platforms to enhance their product offerings and improve patient treatment. Platforms such as BrainTale-care are dedicated to monitoring and predicting neurological disorders, providing valuable decision support for medical professionals. For example, Braintale, a France-based medical device company, introduced the brainTale-care platform featuring modules such as brainQuant for white matter quantification and brainScore-coma for coma recovery prediction. This advancement aims to provide clinicians with innovative digital medical devices for enhanced diagnosis, monitoring, and prediction of neurological disease progression.

Manufacturers in the neurology devices market are also investing in the research and development of implantable wireless brain devices for treating neurological and psychiatric diseases. Neuromodulation devices, equipped with wireless neuromodulators, are implanted inside the skull to communicate with the brain and stimulate nerves. These devices are utilized for conditions such as depression, traumatic brain injury, stress, and bipolar disorders by manipulating brain signals. Medtronic PLC, a US-based medical device company, received FDA approval for its SenSight Directional Lead System, a breakthrough in deep brain stimulation (DBS) therapy. The SenSight system addresses symptoms related to movement disorders such as Parkinson's disease, dystonia, essential tremor, and medically refractory epilepsy.

Major companies operating in the neurology devices market report are Medtronic Inc., Stryker Corporation, Boston Scientific Corporation, Integra LifeSciences, Abbott Laboratories, Terumo Corporation, LivaNova, PLC, Integer, Penumbra, Inc., B. Braun Group, Johnson & Johnson, W.L Gore, St. Jude Medical LLC, Parasym, TUR Therapietechnik GmbH, Smiths Medical, Cizeta Surgical, Neuro France Implants, Ectron, Metrion Biosciences, Abbvie, Accentus Medical Ltd., Adaptix, Argonaut Therapeutics, Beckley Psytech, Brainwave Discovery, Cerus Endovascular, Chronus Therapeutics, Cytiva, Natus Medical Incorporated, Cerenovus, Nevro, Aleva Neurotherapeutics SA, Dynatronics Corporation, Cyberonics Inc.

North America was the largest region in the global neurology devices market in 2023. Asia-Pacific was the second largest region in the global neurology devices market. Africa was the smallest region in the global neurology devices market. The regions covered in the neurology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the neurology devices market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The neurology devices market consists of sales of neuro thrombectomy devices, carotid artery stents, embolic coils, and support devices that are used to treat neurological disorders. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The primary types of neurology devices include cerebrospinal fluid management (CSF) devices and equipment, interventional neurology devices and equipment, neurosurgery devices and equipment, and neurostimulation devices. Neurostimulation devices generate electrical impulses placed under the patient's skin in specific parts of the body. Expenditures for these devices come from both public and private sources. The products encompass Instruments Or Equipment and disposables. Various end-users, including hospitals, clinics, diagnostic laboratories, and others, are involved in the use of neurology devices.

The neurology devices market research report is one of a series of new reports that provides neurology devices market statistics, including neurology devices industry global market size, regional shares, competitors with a neurology devices market share, detailed neurology devices market segments, market trends and opportunities, and any further data you may need to thrive in the neurology devices industry. This neurology devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.