
NEW YORK, July 6, 2023 /PRNewswire/ -- The neurology devices market is set to grow by USD 12,493.66 million from 2022 to 2027, progressing at a CAGR of 12.02% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The growing geriatric population is a key factor driving the market growth. The geriatric population is more affected by various chronic diseases such as diabetes, muscular problems, Alzheimer's illness, PD, and gastrointestinal issues. For example, as per OECD, the portion of the geriatric population of the all-out population expanded from 9% in 1960 to 17% in 2015 and is supposed to increase to 28% by 2050. Hence, these factors are expected to drive the market growth during the forecast period. -Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!
The report on the neurology devices market provides a holistic update, market size and forecast, trends, growth drivers, challenges, and vendor analysis.
The neurology devices market covers the following areas:
Neurology Devices Market 2023-2027 - Market Dynamics
Major Trends
Technological advances in neurological devices are a major trend shaping the market. The advance in medical equipment has empowered doctors to give quality care to patients, with better access to information and medical telecommunications. For instance, the NeuroPace RNS System, introduced by NeuroPace Inc. (NeuroPace), is a small implantable neurostimulator with a brain-computer interface. Furthermore, the development of next-generation devices such as neurostimulation devices with brain-computer interface features and robot-assisted devices are the key development in the market. Hence, these factors are expected to drive the market growth during the forecast period.
Significant Challenges
The high cost of neurology devices is one of the significant challenges restricting market growth. Neurologists' fees, equipment fees, hospital fees, and inpatient diagnostic and surgery fees are some of the factors contributing to the high cost of neurology devices. Furthermore, configuration and product features are the main factors that define the device cost. For example, the price of neurostimulation devices ranges between USD 8,820 and USD 25,970. Hence, these high costs are expected to restrict the market growth during the forecast period.
Neurology Devices Market 2023-2027: Market Segmentation
The neurology devices market is segmented by product (neurostimulation devices, interventional neurology devices, neurosurgery devices, cerebrospinal fluid management devices, and others), end-user (hospitals, ASCs, and specialty centers, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)).
- The market share growth in the neurostimulation devices segment will be significant during the forecast period. The neurostimulation devices are further classified into the deep brain, spinal cord, sacral nerve, and others. Furthermore, these devices are used to treat various conditions such as chronic pain, movement disorders, epilepsy, and Parkinson's disease (PD). The development of DBS with directional stimulation and longer-lasting rechargeable batteries are also driving the market growth. For instance, Boston Scientific received FDA approval for its ImageReady MRI for Vercise Gevia Deep Brain Stimulation System. This is used to target electrical stimulation in the brain to treat patients with PD accurately.
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
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Companies Mentioned
- Abbott Laboratories
- B.Braun SE
- Becton Dickinson and Co.
- Boston Scientific Corp.
- Braintale
- Helius Medical Technologies Inc.
- Integra Lifesciences Holdings Corp.
- Johnson and Johnson Services Inc.
- LivaNova Plc
- MicroPort Scientific Corp.
- Natus Medical Inc.
- Nihon Kohden Corp.
- Penumbra Inc.
- Perflow Medical Ltd.
- Rapid Medical Ltd.
- Stryker Corp.
- The Magstim Co. Ltd.
- W. L. Gore and Associates Inc.
- Zimmer Biomet Holdings Inc.
- Medtronic Plc
Vendor Offering
- Abbott Laboratories - The company offers neurology devices such as the Abbott Infinity DBS system.
- Becton Dickinson and Co. - The company offers neurology devices such as BD neurosurgical clipper blades.
- Integra Lifesciences Holdings Corp. - The company offers neurology devices like neuro dissectors.
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Neurology Devices Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.02% |
Market growth 2023-2027 |
USD 12,493.66 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
10.29 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
US, Germany, UK, Japan, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, B.Braun SE, Becton Dickinson and Co., Boston Scientific Corp., Braintale, Helius Medical Technologies Inc., Integra Lifesciences Holdings Corp., Johnson and Johnson Services Inc., LivaNova Plc, MicroPort Scientific Corp., Natus Medical Inc., Nihon Kohden Corp., Penumbra Inc., Perflow Medical Ltd., Rapid Medical Ltd., Stryker Corp., The Magstim Co. Ltd., W. L. Gore and Associates Inc., Zimmer Biomet Holdings Inc., and Medtronic Plc |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data, you are looking for, you can reach out to our analysts and get customized segments. |
Table of Contents
1 Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global neurology devices market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global neurology devices market 2017 - 2021 ($ million)
- 4.2 Product Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)
- 4.3 End-user Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Product
- 6.1 Market segments
- Exhibit 30: Chart on Product - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
- 6.2 Comparison by Product
- Exhibit 32: Chart on Comparison by Product
- Exhibit 33: Data Table on Comparison by Product
- 6.3 Neurostimulation devices - Market size and forecast 2022-2027
- Exhibit 34: Chart on Neurostimulation devices - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Neurostimulation devices - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Neurostimulation devices - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Neurostimulation devices - Year-over-year growth 2022-2027 (%)
- 6.4 Interventional neurology devices - Market size and forecast 2022-2027
- Exhibit 38: Chart on Interventional neurology devices - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Interventional neurology devices - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Interventional neurology devices - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Interventional neurology devices - Year-over-year growth 2022-2027 (%)
- 6.5 Neurosurgery devices - Market size and forecast 2022-2027
- Exhibit 42: Chart on Neurosurgery devices - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Neurosurgery devices - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Neurosurgery devices - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Neurosurgery devices - Year-over-year growth 2022-2027 (%)
- 6.6 Cerebrospinal fluid management devices - Market size and forecast 2022-2027
- Exhibit 46: Chart on Cerebrospinal fluid management devices - Market size and forecast 2022-2027 ($ million)
- Exhibit 47: Data Table on Cerebrospinal fluid management devices - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Chart on Cerebrospinal fluid management devices - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Cerebrospinal fluid management devices - Year-over-year growth 2022-2027 (%)
- 6.7 Others - Market size and forecast 2022-2027
- Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 6.8 Market opportunity by Product
- Exhibit 54: Market opportunity by Product ($ million)
- Exhibit 55: Data Table on Market opportunity by Product ($ million)
7 Market Segmentation by End-user
- 7.1 Market segments
- Exhibit 56: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 57: Data Table on End-user - Market share 2022-2027 (%)
- 7.2 Comparison by End-user
- Exhibit 58: Chart on Comparison by End-user
- Exhibit 59: Data Table on Comparison by End-user
- 7.3 Hospitals - Market size and forecast 2022-2027
- Exhibit 60: Chart on Hospitals - Market size and forecast 2022-2027 ($ million)
- Exhibit 61: Data Table on Hospitals - Market size and forecast 2022-2027 ($ million)
- Exhibit 62: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
- Exhibit 63: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)
- 7.4 ASCs - Market size and forecast 2022-2027
- Exhibit 64: Chart on ASCs - Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Data Table on ASCs - Market size and forecast 2022-2027 ($ million)
- Exhibit 66: Chart on ASCs - Year-over-year growth 2022-2027 (%)
- Exhibit 67: Data Table on ASCs - Year-over-year growth 2022-2027 (%)
- 7.5 Specialty centers and others - Market size and forecast 2022-2027
- Exhibit 68: Chart on Specialty centers and others - Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Data Table on Specialty centers and others - Market size and forecast 2022-2027 ($ million)
- Exhibit 70: Chart on Specialty centers and others - Year-over-year growth 2022-2027 (%)
- Exhibit 71: Data Table on Specialty centers and others - Year-over-year growth 2022-2027 (%)
- 7.6 Market opportunity by End-user
- Exhibit 72: Market opportunity by End-user ($ million)
- Exhibit 73: Data Table on Market opportunity by End-user ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 75: Chart on Market share by geography 2022-2027 (%)
- Exhibit 76: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 77: Chart on Geographic comparison
- Exhibit 78: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 79: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 83: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 Asia - Market size and forecast 2022-2027
- Exhibit 87: Chart on Asia - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on Asia - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on Asia - Year-over-year growth 2022-2027 (%)
- 9.6 Rest of World (ROW) - Market size and forecast 2022-2027
- Exhibit 91: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
- 9.7 US - Market size and forecast 2022-2027
- Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.8 Germany - Market size and forecast 2022-2027
- Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.9 UK - Market size and forecast 2022-2027
- Exhibit 103: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 104: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.10 Japan - Market size and forecast 2022-2027
- Exhibit 107: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 108: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 109: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 110: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.11 China - Market size and forecast 2022-2027
- Exhibit 111: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 112: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 113: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 114: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.12 Market opportunity by geography
- Exhibit 115: Market opportunity by geography ($ million)
- Exhibit 116: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 117: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 119: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 120: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 121: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 122: Matrix on vendor position and classification
- 12.3 Abbott Laboratories
- Exhibit 123: Abbott Laboratories - Overview
- Exhibit 124: Abbott Laboratories - Business segments
- Exhibit 125: Abbott Laboratories - Key news
- Exhibit 126: Abbott Laboratories - Key offerings
- Exhibit 127: Abbott Laboratories - Segment focus
- 12.4 B.Braun SE
- Exhibit 128: B.Braun SE - Overview
- Exhibit 129: B.Braun SE - Business segments
- Exhibit 130: B.Braun SE - Key news
- Exhibit 131: B.Braun SE - Key offerings
- Exhibit 132: B.Braun SE - Segment focus
- 12.5 Becton Dickinson and Co.
- Exhibit 133: Becton Dickinson and Co. - Overview
- Exhibit 134: Becton Dickinson and Co. - Business segments
- Exhibit 135: Becton Dickinson and Co. - Key news
- Exhibit 136: Becton Dickinson and Co. - Key offerings
- Exhibit 137: Becton Dickinson and Co. - Segment focus
- 12.6 Boston Scientific Corp.
- Exhibit 138: Boston Scientific Corp. - Overview
- Exhibit 139: Boston Scientific Corp. - Business segments
- Exhibit 140: Boston Scientific Corp. - Key news
- Exhibit 141: Boston Scientific Corp. - Key offerings
- Exhibit 142: Boston Scientific Corp. - Segment focus
- 12.7 Integra Lifesciences Holdings Corp.
- Exhibit 143: Integra Lifesciences Holdings Corp. - Overview
- Exhibit 144: Integra Lifesciences Holdings Corp. - Business segments
- Exhibit 145: Integra Lifesciences Holdings Corp. - Key news
- Exhibit 146: Integra Lifesciences Holdings Corp. - Key offerings
- Exhibit 147: Integra Lifesciences Holdings Corp. - Segment focus
- 12.8 Johnson and Johnson Services Inc.
- Exhibit 148: Johnson and Johnson Services Inc. - Overview
- Exhibit 149: Johnson and Johnson Services Inc. - Business segments
- Exhibit 150: Johnson and Johnson Services Inc. - Key news
- Exhibit 151: Johnson and Johnson Services Inc. - Key offerings
- Exhibit 152: Johnson and Johnson Services Inc. - Segment focus
- 12.9 LivaNova Plc
- Exhibit 153: LivaNova Plc - Overview
- Exhibit 154: LivaNova Plc - Business segments
- Exhibit 155: LivaNova Plc - Key offerings
- Exhibit 156: LivaNova Plc - Segment focus
- 12.10 Medtronic Plc
- Exhibit 157: Medtronic Plc - Overview
- Exhibit 158: Medtronic Plc - Business segments
- Exhibit 159: Medtronic Plc - Key news
- Exhibit 160: Medtronic Plc - Key offerings
- Exhibit 161: Medtronic Plc - Segment focus
- 12.11 MicroPort Scientific Corp.
- Exhibit 162: MicroPort Scientific Corp. - Overview
- Exhibit 163: MicroPort Scientific Corp. - Business segments
- Exhibit 164: MicroPort Scientific Corp. - Key offerings
- Exhibit 165: MicroPort Scientific Corp. - Segment focus
- 12.12 Natus Medical Inc.
- Exhibit 166: Natus Medical Inc. - Overview
- Exhibit 167: Natus Medical Inc. - Product / Service
- Exhibit 168: Natus Medical Inc. - Key news
- Exhibit 169: Natus Medical Inc. - Key offerings
- 12.13 Nihon Kohden Corp.
- Exhibit 170: Nihon Kohden Corp. - Overview
- Exhibit 171: Nihon Kohden Corp. - Product / Service
- Exhibit 172: Nihon Kohden Corp. - Key news
- Exhibit 173: Nihon Kohden Corp. - Key offerings
- 12.14 Penumbra Inc.
- Exhibit 174: Penumbra Inc. - Overview
- Exhibit 175: Penumbra Inc. - Product / Service
- Exhibit 176: Penumbra Inc. - Key news
- Exhibit 177: Penumbra Inc. - Key offerings
- 12.15 Perflow Medical Ltd.
- Exhibit 178: Perflow Medical Ltd. - Overview
- Exhibit 179: Perflow Medical Ltd. - Product / Service
- Exhibit 180: Perflow Medical Ltd. - Key offerings
- 12.16 Stryker Corp.
- Exhibit 181: Stryker Corp. - Overview
- Exhibit 182: Stryker Corp. - Business segments
- Exhibit 183: Stryker Corp. - Key news
- Exhibit 184: Stryker Corp. - Key offerings
- Exhibit 185: Stryker Corp. - Segment focus
- 12.17 Zimmer Biomet Holdings Inc.
- Exhibit 186: Zimmer Biomet Holdings Inc. - Overview
- Exhibit 187: Zimmer Biomet Holdings Inc. - Business segments
- Exhibit 188: Zimmer Biomet Holdings Inc. - Key news
- Exhibit 189: Zimmer Biomet Holdings Inc. - Key offerings
- Exhibit 190: Zimmer Biomet Holdings Inc. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 191: Inclusions checklist
- Exhibit 192: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 193: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 194: Research methodology
- Exhibit 195: Validation techniques employed for market sizing
- Exhibit 196: Information sources
- 13.5 List of abbreviations
- Exhibit 197: List of abbreviations
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