The global neurology devices market size reached US$ 13.4 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 25.1 Billion by 2032, exhibiting a growth rate (CAGR) of 7.2% during 2023-2032.
Neurology is a stream of medical science that deals with diseases and disorders of the nervous system. There are numerous types of devices that are widely used in neurology. For instance, sacral nerve stimulation devices function by sending electrical impulses to the targeted sacral nerves located in the lower back. On the other hand, cerebrospinal fluid management devices maintain the cerebrospinal fluid flow and drain excess fluid from the brain. In line with this, interventional devices use radiology and catheters to diagnose the medical conditions present in the central nervous system, whereas deep brain stimulation devices aid in performing procedures by implanting a medical device that sends electrical impulses to specific target areas in the brain. These devices are instrumental in treating complex disorders. As a result, they find widespread applications in the treatment of numerous neurological disorders, such as obsessive-compulsive disorder, Parkinson's disease, dystonia, chronic pain, essential tremor, and major depression.
2. What is the expected growth rate of the global neurology devices market during 2024-2032?
3. What are the key factors driving the global neurology devices market?
4. What has been the impact of COVID-19 on the global neurology devices market?
5. What is the breakup of the global neurology devices market based on the product?
6. What is the breakup of the global neurology devices market based on the end user?
7. What are the key regions in the global neurology devices market?
8. Who are the key players/companies in the global neurology devices market?
Neurology is a stream of medical science that deals with diseases and disorders of the nervous system. There are numerous types of devices that are widely used in neurology. For instance, sacral nerve stimulation devices function by sending electrical impulses to the targeted sacral nerves located in the lower back. On the other hand, cerebrospinal fluid management devices maintain the cerebrospinal fluid flow and drain excess fluid from the brain. In line with this, interventional devices use radiology and catheters to diagnose the medical conditions present in the central nervous system, whereas deep brain stimulation devices aid in performing procedures by implanting a medical device that sends electrical impulses to specific target areas in the brain. These devices are instrumental in treating complex disorders. As a result, they find widespread applications in the treatment of numerous neurological disorders, such as obsessive-compulsive disorder, Parkinson's disease, dystonia, chronic pain, essential tremor, and major depression.
Neurology Devices Market Trends:
The market is primarily driven by considerable growth in the healthcare sector. In addition to this, the growing prevalence of neurological disorders across the globe is significantly contributing to the product demand. The increasing geriatric population and the rising incidences of neurovascular conditions, such as stroke, among the elderly are further propelling the adoption of neurology devices, thereby augmenting the growth of the market. Moreover, continual technological advancements in neurology devices and the widespread demand for minimally invasive (MI) surgeries are also acting as significant growth-inducing factors across the globe. Some of the other factors providing an impetus to the market growth include the expanding healthcare expenditure, huge investments made by global medical device manufacturers and extensive research and development (R&D) in the field of neurotherapy.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global neurology devices market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on product and end user.Breakup by Product:
- Neurostimulation Devices
- Neurosurgery Devices
- Interventional Neurology Devices
- Cerebrospinal Fluid Management Devices
- Others
Breakup by End User:
- Hospitals
- Ambulatory Surgery Centers
- Neurology Clinics
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, B. Braun, Boston Scientific Corporation, Integra LifeSciences, LivaNova PLC, Medtronic plc, Nihon Kohden Corporation, Penumbra Inc. and Stryker Corporation.
Key Questions Answered in This Report
1. What was the size of the global neurology devices market in 2023?2. What is the expected growth rate of the global neurology devices market during 2024-2032?
3. What are the key factors driving the global neurology devices market?
4. What has been the impact of COVID-19 on the global neurology devices market?
5. What is the breakup of the global neurology devices market based on the product?
6. What is the breakup of the global neurology devices market based on the end user?
7. What are the key regions in the global neurology devices market?
8. Who are the key players/companies in the global neurology devices market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Neurology Devices Market
6 Market Breakup by Product
7 Market Breakup by End User
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Abbott Laboratories
- B. Braun
- Boston Scientific Corporation
- Integra LifeSciences
- LivaNova PLC
- Medtronic plc
- Nihon Kohden Corporation
- Penumbra Inc.
- Stryker Corporation.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 139 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 13.4 Billion |
| Forecasted Market Value ( USD | $ 25.1 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
