all report title image
  • Published On : Jun 2020
  • Code : CMI3889
  • Industry : Medical Devices
  • Pages : 155
  • Formats :

Neurology devices are used in the treatment of Alzheimer’s, Parkinson’s, acute spinal cord injury, amyotrophic lateral sclerosis, ataxia, Bell's palsy, brain tumors, cerebral aneurysm, epilepsy, seizures, and other neurological disorders.

Statistics:

The global neurology devices market is estimated to account for US$ 44,045.9 Mn in terms of value by the end of 2027.

Global Neurology Devices Market: Drivers

Increasing prevalence of neurological disorders is expected to propel growth of the global neurology devices market over the forecast period. For instance, according to Alzheimer’s Association, around 5.8 million people in the U.S. aged 65 and older are living with Alzheimer's dementia in 2020.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.         

Statistics:

North America held dominant position in the global neurology devices market in 2019, accounting for 58.5% share in terms of value, followed by Europe and Asia Pacific, respectively

Figure 1: Global Neurology Devices Market Share (%) Value, By Region, 2019

Neurology Devices  | Coherent Market Insights

Global Neurology Devices Market: Restraints

No significant evidence regarding the efficacy of wearable brain devices is expected to hinder growth of the market. Wearable brain devices claim to offer benefits such as stress reduction, improved sleep, weight loss, and improved cognition. However, very few studies have assessed the scientific validity of wearable brain devices.

Moreover, high cost of clinical trials to assess the efficacy of neurology devices is also expected to limit growth of the market. This can be attributed to adequate infrastructure for trials, lack of historical data, and enrollment and retention of patients suffering from specific neurological disorders.

Global Neurology Devices Market: Opportunities 

R&D in neurostimulation devices is expected to offer lucrative growth opportunities for players in the global neurology devices market. For instance, in May 2020, researchers from Stony Brook University, U.S., reported development of an analog circuit as a model for the multistable brain dynamics, which is expected to test the efficacy of next-generation neural stimulators.

Moreover, increasing government funding in R&D of neurological disorders is also expected to aid in growth of the market. For instance, in December 2019, the U.S. Congress granted US$ 350 million annual appropriation for R&D in Alzheimer’s and dementia.

Statistics:         

The global neurology devices market was valued at US$ 13,572.1 Mn in 2019 and is forecast to reach a value of US$ 44,045.9 Mn by 2027 at a CAGR of 15.9% between 2020 and 2027.

Figure 2: Global Neurology Devices Market Value (US$ Bn), 2016 – 2027

Neurology Devices  | Coherent Market Insights

Market Trends/Key Takeaways

Patients suffering from Covid-19 have reportedly demonstrated neurologic symptoms, which is expected to create conducive environment for growth of the market. For instance, in April 2020, researchers at the Union Hospital and Huazhong University of Science and Technology in Wuhan, China, reported that over a third of 214 confirmed COVID-19 cases in China had neurologic symptoms that included acute cerebrovascular events, impaired consciousness, and muscle injury.

Moreover, adoption of Artificial Intelligence (AI) in neurology is also expected to aid in growth of the market. For instance, according to the study ‘Artificial Intelligence Techniques for Automated Diagnosis of Neurological Disorders’, published in March 2020, in European Neurology, computer-aided diagnosis (CAD) system using AI and advanced signal processing techniques can assist clinicians in analyzing and interpreting physiological signals and images more effectively.

Global Neurology Devices Market: Competitive Landscape

Major players operating in the global neurology devices market include, 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., and Cyberonics, Inc

Global Neurology Devices Market: Key Developments

Major players in the market are focused on approval and launch of new devices to expand their product portfolio. For instance, in May 2020, Helius Medical Technologies, Inc., a neurotech company, received Breakthrough Designation for its PoNS device as a potential treatment for gait deficit due to symptoms of multiple sclerosis.

Similarly, in April 2020, Braintale SAS received CE mark approval for Brainquant, a quantitative brain measurement device used for managing patients in a coma following brain injury.

Neurology Devices are used for treatment of neurological disorders, acute spinal cord injury, amyotrophic lateral sclerosis, ataxia, and others. These devices constitutes of neurointerventional devices, neurostimulation devices, cranial dopplers, electromyographs, implantable neurostimulators, neurosurgery surgical robots, and skull clamps Increasing prevalence of neurological disorders is expected to propel growth of the global neurology devices market over the forecast period. Furthermore, increasing government funding in R&D along with increasing product launches is also expected to propel the growth of the market.

Key features of the study:

  • This report provides in-depth analysis of the Global Neurology Devices market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the Global Neurology Devices market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, 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., and Cyberonics, Inc.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Global Neurology Devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global Neurology Devices market

Detailed Segmentation:

  • Global Neurology Devices Market, By Device Type:
    • CSF Management devices
      • CSF Shunt Devices
      • CSF Drainage Devices
    • Interventional Neurology Devices
      • Neuro thromobectomy
      • Cerebral Balloon Angioplasty & Stents
      • Aneurysm Coiling
      • Support Devices
    • Neuro-surgery Devices
      • Neuro-endoscopes
      • Sterotactic- Systems
      • Ultrasonic- Aspirators
      • Aneurysm Clips
    • Neuro-stimulation Devices
      • Spinal Cord Stimulation
      • Deep Brain Stimulation
      • Sacral Nerve Stimulation
      • Vagus Nerve Stimulation
      • Gastric Nerve Stimulation
  • Global Neurology Devices Market, By Region:
    • North America
      • By Device Type:
        • CSF Management devices
          • CSF Shunt Devices
          • CSF Drainage Devices
        • Interventional Neurology Devices
          • Neuro thromobectomy
          • Cerebral Balloon Angioplasty & Stents
          • Aneurysm Coiling
          • Support Devices
        • Neuro-surgery Devices
          • Neuro-endoscopes
          • Sterotactic- Systems
          • Ultrasonic- Aspirators
          • Aneurysm Clips
        • Neuro-stimulation Devices
          • Spinal Cord Stimulation
          • Deep Brain Stimulation
          • Sacral Nerve Stimulation
          • Vagus Nerve Stimulation
          • Gastric Nerve Stimulation
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Device Type:
        • CSF Management devices
          • CSF Shunt Devices
          • CSF Drainage Devices
        • Interventional Neurology Devices
          • Neuro thromobectomy
          • Cerebral Balloon Angioplasty & Stents
          • Aneurysm Coiling
          • Support Devices
        • Neuro-surgery Devices
          • Neuro-endoscopes
          • Sterotactic- Systems
          • Ultrasonic- Aspirators
          • Aneurysm Clips
        • Neuro-stimulation Devices
          • Spinal Cord Stimulation
          • Deep Brain Stimulation
          • Sacral Nerve Stimulation
          • Vagus Nerve Stimulation
          • Gastric Nerve Stimulation
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Device Type:
        • CSF Management devices
          • CSF Shunt Devices
          • CSF Drainage Devices
        • Interventional Neurology Devices
          • Neuro thromobectomy
          • Cerebral Balloon Angioplasty & Stents
          • Aneurysm Coiling
          • Support Devices
        • Neuro-surgery Devices
          • Neuro-endoscopes
          • Sterotactic- Systems
          • Ultrasonic- Aspirators
          • Aneurysm Clips
        • Neuro-stimulation Devices
          • Spinal Cord Stimulation
          • Deep Brain Stimulation
          • Sacral Nerve Stimulation
          • Vagus Nerve Stimulation
          • Gastric Nerve Stimulation
      • By Country
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Device Type:
        • CSF Management devices
          • CSF Shunt Devices
          • CSF Drainage Devices
        • Interventional Neurology Devices
          • Neuro thromobectomy
          • Cerebral Balloon Angioplasty & Stents
          • Aneurysm Coiling
          • Support Devices
        • Neuro-surgery Devices
          • Neuro-endoscopes
          • Sterotactic- Systems
          • Ultrasonic- Aspirators
          • Aneurysm Clips
        • Neuro-stimulation Devices
          • Spinal Cord Stimulation
          • Deep Brain Stimulation
          • Sacral Nerve Stimulation
          • Vagus Nerve Stimulation
          • Gastric Nerve Stimulation
      • By Country
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Device Type:
        • CSF Management devices
          • CSF Shunt Devices
          • CSF Drainage Devices
        • Interventional Neurology Devices
          • Neuro thromobectomy
          • Cerebral Balloon Angioplasty & Stents
          • Aneurysm Coiling
          • Support Devices
        • Neuro-surgery Devices
          • Neuro-endoscopes
          • Sterotactic- Systems
          • Ultrasonic- Aspirators
          • Aneurysm Clips
        • Neuro-stimulation Devices
          • Spinal Cord Stimulation
          • Deep Brain Stimulation
          • Sacral Nerve Stimulation
          • Vagus Nerve Stimulation
          • Gastric Nerve Stimulation
      • By Country
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Device Type:
        • CSF Management devices
          • CSF Shunt Devices
          • CSF Drainage Devices
        • Interventional Neurology Devices
          • Neuro thromobectomy
          • Cerebral Balloon Angioplasty & Stents
          • Aneurysm Coiling
          • Support Devices
        • Neuro-surgery Devices
          • Neuro-endoscopes
          • Sterotactic- Systems
          • Ultrasonic- Aspirators
          • Aneurysm Clips
        • Neuro-stimulation Devices
          • Spinal Cord Stimulation
          • Deep Brain Stimulation
          • Sacral Nerve Stimulation
          • Vagus Nerve Stimulation
          • Gastric Nerve Stimulation
      • By Country
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • B. Braun Melsungen AG *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • 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.
  • “*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The Global Neurology Devices market size was valued at US$ 13,572.1 million in 2019 and is estimated to exhibit a CAGR of 15.9% between 2020 and 2027.
Neuro-stimulation Devices segment held the major market share in 2019 owing to an Increasing prevalence of neurological disorders is expected to propel growth of the market
Major factor driving the growth of Global Neurology Devices market during the forecast period increasing prevalence of neurological disorders, increasing research & development , and adoption of expansion strategies from major companies.
Major factors hampering the growth of the Global Neurology Devices market during the forecast period constitutes of product recalls.
North America market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are 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., and Cyberonics, Inc.

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