Neurology Devices Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Siemens Healthineers, GE Healthcare, Philips, Canon, Hitachi

The global neurology devices market size is expected to grow from $14.4 billion in 2021 to $ 26.3 billion in 2027 at a compound annual growth rate (CAGR) of 13.2%.

Neurology Devices Market Overview

Neurology devices are used to treat neurological problems such as acute spinal cord damage, amyotrophic lateral sclerosis, and ataxia. These include cranial dopplers, electromyographs, implantable neurostimulators, neurosurgical surgical robots, skull clamps, and neurointerventional and neurostimulation devices. Over the forecast period, an increase in the prevalence of neurological disorders is anticipated to fuel market growth for neurology devices worldwide. Additionally, new product releases and increased government investment for R&D are anticipated to fuel the market's expansion. The drivers driving market expansion are an increase in the incidence of neurological disorders, massive expenditures by private players in neurology devices, and an increase in research & development in the field of Neurotherapy.

The main driver boosting demand for neurology devices over the forecast period is the rising prevalence of neurological illnesses in the general population. For instance, according to statistics provided by the UN, approximately 1 billion people, or nearly one in six of the global population, will be afflicted by neurological disorders in February 2021, including Alzheimer's and Parkinson's disease, strokes, multiple sclerosis, migraines, brain injuries, and neuro infections. Additionally, according to the same source, in 2019, 24 million people had Alzheimer's disease and other dementias, 62 million had cerebrovascular illness, 50 million had epilepsy, 326 million had migraines. Thus, the rising frequency of neurological problems in the population is predicted to raise demand for neurology devices that restore hearing and sight and give increased function for limb loss or congenital limb discrepancies, thereby augmenting market growth.

Industry News and Updates:

September 10, 2020: BOSTON SCIENTIFIC LAUNCHES VERCISE GENUS™ DBS SYSTEM IN EUROPE --

Boston Scientific Corporation (NYSE: BSX) announced it has received CE Mark and initiated a limited market release of the fourth generation Vercise Genus™ Deep Brain Stimulation (DBS) System in Europe. Featuring full-body MRI conditional and Bluetooth capabilities across the portfolio, the Vercise Genus System is indicated to treat the symptoms of Parkinson’s disease (PD), essential tremor, and dystonia by delivering precisely targeted electrical stimulation in the brain designed to provide optimal symptom relief.

What are the major Applications, Types and Regions for Neurology Devices Market?

Market is segmented based on the type, applications, companies and regions.

By Type, it is segmented into

• Instrument and Consumables


• Software


• Services

By Application, it is segmented into

• Academic Institutes


• Hospitals


• Research Institutes


• Other

Neurology Devices Market Regional Analysis

North America is estimated to have a substantial key market share in the neurology devices market due to reasons such as rising prevalence of neurological illnesses, increased funding from various organisations for the development of neurodegenerative disease therapy, and increased research and development efforts in the region. Furthermore, Europe had the second-largest market share for neurology devices in 2019. With advancing technology and government support, this region will likewise have a sizeable stake in the next years. Thirdly, it is believed that during the examined projected period, the Asia-Pacific area will grow at the fastest rate. Around 30 million people in India suffer various neurological illnesses, according to MRFR's analysis of the market for neurology devices. In addition, the CAGR in this area is being boosted by the rising elderly population. Africa and the Middle East are expected to experience weaker growth during the examined projected period. It is mostly caused by the infrastructure and knowledge of healthcare's poor growth pace.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Neurology Devices Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Neurology Devices Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Neurology Devices Market report scope?

Key Takeaways from this Neurology Devices Market Report

• Evaluate Neurology Devices market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Neurology Devices market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

Frequently Asked Questions

What is the growth rate of Neurology Devices Market?

The Neurology Devices Market is growing at a CAGR of 13.2% over the next 5 years.

Who are the key players in Neurology Devices Market?

Siemens Healthineers, GE Healthcare, Philips, Canon, Hitachi, Leica Microsystems, Zeiss, Nikon, JEOL Ltd, Natus Medical, Nihon Kohden, NeuroPace Inc, Shimadzu Corporation, Compumedics, B. Braun Melsungen AG, Boston Scientific Corporation, BIONIK Laboratories Corp., Integra LifeSciences Holdings Corporation, Johnson and Johnson, Magstim Co Ltd., Braintale SAS, Medtronic, plc., Abbott, Zimmer Biomet, Stryker Corporation, Helius Medical Technologies Inc., Avanos Medical, Inc., W.L. Gore & Associates, Inc., HeadsafeIP Pty Ltd., Cerus Endovascular Ltd., Cyberonics, Inc.

What are the significant types of Neurology Devices Market?

Instrument and Consumables, Software, Services

What are the major end-use applications of Neurology Devices Market?

Academic Institutes, Hospitals, Research Institutes, Other

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