Neurology Devices Market Insights:
The Neurology Devices Market size was valued at USD 13.62 Billion in 2022, expecting a CAGR of 8% during the forecast period (2023-2030), and the market is projected to be worth USD 25.21 Billion by 2030.
Driver:
The increased adoption of Neurology Devices in the Medical Devices industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Neurology Devices also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Neurology Devices in many sectors also boosts the market growth during the forecast period.
The neurology devices market refers to the market for medical devices used in the diagnosis, treatment, and monitoring of neurological disorders, such as Alzheimer’s disease, Parkinson’s disease, epilepsy, and multiple sclerosis. Neurology devices can range from simple devices such as tongue depressors and reflex hammers to complex devices such as brain implants and neurostimulators. Common neurology devices include magnetic resonance imaging (MRI) machines, computed tomography (CT) scanners, electroencephalography (EEG) machines, and electromyography (EMG) machines. The market for neurology devices is driven by factors such as the increasing prevalence of neurological disorders, aging populations, technological advancements in medical devices, and rising healthcare expenditure.
Neurology Devices Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Product (Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Cerebrospinal fluid management devices), By End Use (Hospitals, Ambulatory surgery centers, Others), and companies (Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Zimmer Biomet Holding Inc., Johnson & Johnson, Stryker Corporation, LivaNova PLC, B.Braun SE, Integra Lifesciences, Natus Medical Inc), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 8%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 25.21 Billion |
| CAGR (2023-2030) | 8% |
| By Product | Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Cerebrospinal fluid management devices |
| By End Use | Hospitals, Ambulatory surgery centers, Others |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Zimmer Biomet Holding Inc., Johnson & Johnson, Stryker Corporation, LivaNova PLC, B.Braun SE, Integra Lifesciences, Natus Medical Inc. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Neurology Devices market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Zimmer Biomet Holding Inc., Johnson & Johnson, Stryker Corporation, LivaNova PLC, B.Braun SE, Integra Lifesciences, Natus Medical Inc.
Market Segment Analysis:
By Product
- Neurostimulation Devices
- Device type
- Spinal Cord Stimulators
- Deep Brain Stimulators
- Sacral Nerve Stimulators
- Vagus Nerve Stimulators
- Others
- Device type
- Neurosurgery Devices
- Device type
- Neuroendoscopy
- neurosurgery navigations
- Device type
- Interventional Neurology Devices
- Device type
- Embolization Devices
- Revascularization Devices
- Thrombectomy Devices
- Embolic Protection Devices
- Accessory Devices
- Device type
- Cerebrospinal fluid management devices
- Device type
- CSF shunts
- External drainage system
- Device type
- Others
By End Use
- Hospitals
- Ambulatory surgery centers
- Others
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Neurology Devices industries in the region.
Key Neurology Devices Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Neurology Devices Market segments.
– Largest Market Share Held by Industry to Industry for Neurology Devices
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Neurology Devices Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
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