Neurology Devices Market Size and Growth Trends and Forecast Report 2025-2033

The Global Neurology Devices Market is expected to reach US$ 22.61 billion by 2033 from US$ 11.85 billion in 2024, with a CAGR of 7.44% from 2025 to 2033. The market is being driven by a number of factors, such as the introduction of improved devices brought about by technological advancements, the growing geriatric population, and the rising prevalence of neurological disorders like epilepsy, Alzheimer's disease, dementias, and cerebrovascular diseases.

Global Neurology Devices Industry Overview

The growing incidence of neurological conditions including Alzheimer's disease, Parkinson's disease, epilepsy, and stroke is fueling the fast growth of the worldwide neurology devices market. The need for sophisticated diagnosis and treatment tools has increased due to an aging population and increased awareness of neurological health. Neurostimulation devices, neurosurgical tools, interventional neurology systems, and monitoring equipment are just a few of the many technologies that fall under the umbrella of neurology devices. The effectiveness, accuracy, and safety of neurological treatments are being improved by technological developments, especially in the areas of wearable neuro-monitoring devices, brain-computer interfaces, and minimally invasive surgery. These developments are contributing to better patient outcomes and shorter hospital stays, which is driving market expansion.

Increased healthcare expenditure, strategic partnerships between research institutions and medical device businesses, and regulatory measures to expedite product approvals all contribute to the industry's growth. Because of its sophisticated healthcare system, robust R&D capacity, and widespread adoption of cutting-edge technology, North America presently controls the majority of the industry. But thanks to increased access to healthcare, a rise in the prevalence of neurological diseases, and government spending on healthcare innovation, the Asia-Pacific region is becoming a major growth sector. Notwithstanding these encouraging developments, the industry nonetheless confronts obstacles including exorbitant gadget prices, restrictive reimbursement practices in emerging nations, and strict regulatory frameworks. The global neurology devices market is nonetheless expected to develop significantly due to ongoing innovation and growing clinical applications, providing prospects for both long-standing firms and newcomers hoping to meet the changing demands of neurological care globally.

The primary driver of the demand for neurology devices throughout the forecast period is the rising prevalence of neurological illnesses in the general population. About 1 billion people, or almost one in six of the world's population, suffer from neurological disorders, including Alzheimer's and Parkinson's disease, strokes, multiple sclerosis, epilepsy, migraine, brain injuries, and neuro infections in 2020, according to data released by the United Nations in February 2021.

Furthermore, according to the same source, in 2019, 24 million individuals had Alzheimer's disease and other dementias, 50 million had epilepsy, 326 million had migraines, and 62 million had cerebrovascular illness. The market is anticipated to expand as a result of the increasing prevalence of neurological problems in the population, which will raise demand for neurology devices that restore hearing and sight and give greater functionality for limb loss or congenital limb discrepancies.

Growth Drivers for the Neurology Devices Market

Launch of Better Devices as a Result of Technological Developments

Important firms are concentrating on launching gadgets with cutting-edge technologies that can give patients better treatment. They are selling gadgets that enable remote patient monitoring and have telemedicine features. For instance, on April 25, 2022, Abbott launched an updated version of their NeuroSphereTM myPathTM digital health app. More features in this edition will enable doctors to keep a closer eye on their patients. At each stage of treatment, the patient, physician, and team may monitor patient-reported outcome metrics on a digital health app while utilizing a spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy device.

Growing Number of Elderly People

The market forecast for neurology devices is favorable due to the growing number of elderly people worldwide. Older adults are increasingly in need of neurology equipment due to their heightened susceptibility to neurological disorders including dementia, stroke, Parkinson's disease, and Alzheimer's disease. The need for neurology services and supplies is higher among the elderly because they need more medical care and because neurological problems are more common in this age group. By 2.05 trillion people will be 80 years of age or older, according to World Health Organization (WHO) projections.

Growing Neurological Disorder Prevalence

The World Health Organization (WHO) estimates that 206 million people worldwide suffered from diabetic neuropathy in 2021. Many neurological illnesses are caused by infections, congenital anomalies, genetic disorders, lifestyle health issues including malnutrition, and injuries to the brain, spinal cord, and nerves. These illnesses negatively affect people's lives by causing things like loss of feeling, muscular weakness, and poor coordination. The market for neurology devices is also being fueled by patients' growing desire for dependable and efficient solutions. By providing extensive viewing and monitoring of brain activity and structure, these instruments allow for the accurate diagnosis of neurological diseases.

Challenges in the Neurology Devices Market

High cost of devices and procedures

Accessibility is severely limited by the high cost of neurological equipment and associated procedures, especially in underdeveloped nations where healthcare funds are frequently tight. Neurostimulation devices, brain imaging systems, and robotic surgical instruments are examples of advanced technology that need significant financial outlays for both purchase and upkeep. These expenses are exacerbated by the requirement for specialized infrastructure and trained workers, both of which are frequently absent in environments with limited resources. Because of this, patients in certain areas could not receive care at all or might have delays in diagnosis and treatment. Financial constraints are further exacerbated by the absence of comprehensive insurance coverage and payment rules, which make it challenging for patients to purchase life-improving neurological treatment as well as for healthcare providers to implement these technologies.

Limited reimbursement policies

The market for neurology devices is severely hampered by limited reimbursement regulations, which make it difficult for patients and healthcare professionals to get and pay for essential therapies. Numerous sophisticated neurological treatments and equipment, including deep brain stimulators or neuro-monitoring systems, are costly and not entirely covered by public health initiatives or insurance. This lack of funding prevents hospitals from making investments in state-of-the-art equipment and restricts patients' access to prompt, efficient care. Patients frequently bear the full cost of care in areas with inadequate or irregular payment systems, which results in differences in access to care. Neurology innovation may be hindered and the uptake of life-improving technology greatly retarded in the absence of sufficient compensation.

United States Neurology Devices Market

Due to the rising incidence of neurological conditions such Alzheimer's disease, Parkinson's disease, epilepsy, and stroke, the market for neurology devices in the US is expanding quickly within the healthcare sector. Innovative equipment such as deep brain stimulators, brain-computer interfaces, and neurostimulation systems have been made possible by technological breakthroughs, and they are improving the precision of diagnosis and the effectiveness of therapy. Because older persons are more prone to neurological problems, the aging population also increases demand for these devices. The market's future is also being shaped by the increase of less invasive treatments and the incorporation of artificial intelligence into neurology equipment.

The market does, however, confront obstacles including exorbitant device costs, restrictive reimbursement guidelines, and regulatory barriers that may prevent the broad use of cutting-edge technology. Notwithstanding these challenges, the United States continues to dominate the market for neurology devices thanks to a strong healthcare system, large investments in R&D, and a strong presence of important industry companies. The market is anticipated to expand as a result of ongoing innovation and strategic partnerships aimed at enhancing patient outcomes and quality of life.

Due to the increased demand for minimally invasive treatments to address these disorders, the aneurysm coiling and arteriovenous malformation subsegment had the biggest market share in 2024. An estimated 6.8 million Americans, or 1 in 50, have a brain aneurysm, with an annual rate of 8-10 per 100,000, according to the Brain Aneurysm Foundation. Every 18 minutes, over 30,000 people in the United States have a ruptured brain aneurysm. Every year, brain aneurysms cause 500,000 fatalities worldwide, with half of the victims being under 50.

United Kingdom Neurology Devices Market

The aging population and rising incidence of neurological conditions including epilepsy, Parkinson's disease, and Alzheimer's disease are driving the market for neurology equipment in the United Kingdom. Technological developments in robotic-assisted neurosurgery, neurostimulation, and neuroimaging are improving the capacity for diagnosis and treatment. A trend toward patient-centric care models is seen in the growing demand for wearable technology and minimally invasive treatments. Government expenditures on healthcare research and infrastructure are also fostering industry growth. However, there are still issues that might prevent wider use, such exorbitant gadget costs, restrictive reimbursement guidelines, and regulatory barriers. The UK remains a pioneer in the development and use of neurological devices in spite of these challenges.

India Neurology Devices Market

The rising incidence of neurological conditions including epilepsy, Parkinson's disease, and stroke is propelling the market for neurology equipment in India. Technological developments in robotic-assisted neurosurgery, neurostimulation, and neuroimaging are improving the capacity for diagnosis and treatment. Because older persons are more prone to neurological diseases, the growing geriatric population also increases demand for these devices.

Notwithstanding this expansion, the sector still confronts obstacles including exorbitant gadget prices, restrictive reimbursement guidelines, and a lack of qualified personnel. These elements may make it more difficult for modern neurology equipment to be widely adopted, especially in remote regions with weak healthcare systems. Nonetheless, it is anticipated that government programs and expenditures on healthcare infrastructure would increase accessibility and spur market growth. To overcome these obstacles and foster the expansion of the neurology devices market in India, more innovation and strategic partnerships are expected.

Saudi Arabia Neurology Devices Market

The market for neurology equipment in Saudi Arabia is expanding quickly due to the aging population and the increased prevalence of neurological conditions such epilepsy, Parkinson's, and Alzheimer's. The capacities of diagnosis and therapy are being improved by developments in neurostimulation, neuroimaging, and robotic-assisted neurosurgery. Notwithstanding this expansion, issues including exorbitant gadget prices, restrictive reimbursement guidelines, and a lack of qualified personnel still exist, especially in remote regions with weaker healthcare systems. Nonetheless, market expansion is anticipated as a result of government expenditures in healthcare infrastructure and programs to provide access to cutting-edge therapies. The Saudi Arabian market for neurology devices is well-positioned to overcome these challenges and grow even more with sustained innovation and strategic partnerships.

Recent Developments in Neurology Devices Industry

• Medtronic's Inceptiv closed-loop spinal cord stimulator, intended to relieve chronic pain, was approved by the FDA in April 2024. By detecting biological cues, this novel gadget automatically modifies stimulation in real time, guaranteeing that the best possible treatment is in line with patients' everyday routines. Inceptiv is the smallest fully implanted spinal cord stimulator on the market and the first of its kind to provide full-body MRI access.

Neurology Devices Market Segment

Product:

• Neurostimulation
• Neurosurgery Devices
• Interventional Neurology
• CSF Management Devices
• Others

End Use:

• Hospitals
• Ambulatory Surgery Centers
• Others

Country:

North America

• United States
• Canada

Europe

• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• Netherlands
• Turkey

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Thailand
• Malaysia
• Indonesia
• New Zealand

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• South Africa
• Saudi Arabia
• United Arab Emirates

The key players have been analyzed by:

• Overview
• Key Persons
• Recent Development & Strategies
• Revenue Analysis

Key Players Analyzed:

• Medtronic Plc.
• B. Braun Melsungen AG
• Boston Scientific Corporation
• Stryker Corporation
• Abbott Laboratories
• Johnson and Johnson
• Smith & Nephew
• MicroPort Scientific Corporation