Neurology Services Market Sales to Reach US$ 4,317.8 Bn by 2032 as Governments Efforts for Reimbursements to Generate 51% in Hospitals - Future Market Insights, Inc.

News provided by

Aug 31, 2022, 08:30 ET

Demand for neurology services in the U.K. is expected to register a CAGR of 5.0% over the next ten years. Demand for neurology services in Europe is expected to register a CAGR of 5.1% over 2022 -2032.

NEWARK, Del, Aug. 31, 2022 /PRNewswire/ -- As per Future Market Insights' latest industry analysis, valuation of the global neurology services market was around US$ 2,446.2 Bn in 2021 and it is projected to exhibit a CAGR of about 5.4% over the forecast period. It is set to reach an estimated valuation of US$ 4,317.8 Bn in 2032.

The global market is showcasing an upward curve due to the rising prevalence of various mental health issues, as well as surging awareness about the importance of mental health. In addition, certain policies framed by the governments of the U.S. and Europe that support neurosurgery patients would aid the market. These policies, such as reimbursements, help patients to undergo treatment without having to pay extra costs.

Request a Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15508

For instance, Medicare provides the initial comprehensive neurosurgical consultation free of charge. Besides, if a neurosurgical operation becomes appropriate for patient care, Medicare covers the costs of hospitalization. The Centers for Medicare and Medicaid Services (CMS) has also created a new Diagnosis Related Group (DRG 528) for endovascular and neurovascular diagnosis and procedures.

There are specific codes provided for the reimbursement of supervision and interpretation, as well as for follow-up angiography visits under 36221-36228. Other CPT codes for various neurological services are 95812, 95813, 95819, 97110, 90867, and 90868. Thus, the availability of favorable reimbursements in developed regions will increase the number of neurosurgical procedures, and consequently boost growth in the neurology services market.

On the contrary, skilled specialists such as physiatrists, neurologists, physical & occupational therapists, speech & language pathologists, psychologists, social workers, and recreational therapists are required for the treatment of neurological ailments. Non-availability or limited availability of such well-trained specialists can create an adverse impact on the treatment of patients with depression and lower growth of organizations that are involved in treatment.

According to a report by the American Association of Neurological Surgeons, in 2020, neurosurgical workforce in the U.S. faced shortage of medical devices and inadequacy to meet health care needs. As per the report, there are less than 3,700 neurosurgeons in over 5,700 hospitals in the U.S. Hence, the absence of trained neurosurgeons can potentially hamper the number of embolization surgeries taking place, which may act as a restraint to the expansion of the market.

Request Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-15508

Key Takeaways from Market Study

By service, the therapeutic service segment held approximately 48.7% of market share in 2021.
Based on indication, the mental health segment generated a market share of around 27.4% in 2021.
By service provider, hospitals are leading the global neurology services market and held a share of 51.6% in 2021.
East Asia is considered to be the most lucrative region in the market and it exhibited a CAGR of 6.6% in 2021.
Germany is set to exhibit a CAGR of nearly 4.6% in the Europe neurology services market during the forecast period.

"Rising number of awareness campaigns to educate people about the availability of treatment options for neurological conditions, as well as rapid shift towards advanced and refined treatment protocols would aid growth. Besides, ongoing improvements in healthcare infrastructure in various parts of the globe are set to propel demand for neurology services," says an analyst of Future Market Insights.

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the neurology services market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032. The global neurology services market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on the service – (diagnostic service, monitoring service, therapeutics service, and surgical service), by indication (attention-deficit/hyperactivity disorder (ADHD), mental health, stroke, concussion, dementia, multiple sclerosis, psychotic disorder, and other neurological diseases), and by the service provider (neurofeedback clinics, neurology clinics, hospitals, neurorehabilitation centers), across seven key regions of the world.

Ask an Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-15508

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

2.3. Inclusion & Exclusion

3. Key Market Trends

3.1. Key Trends Impacting The Market

3.2. Innovation / Development Trends

4. Key Success Factors

4.1. Number of Clinics by Key Countries

4.2. Annual Patient Footfall by Clinics by Key Countries

4.3. Regulatory Scenario

4.4. Reimbursement Scenario

4.5. PESTEL Analysis

5. Market Background

5.1. Macro-Economic Factors

5.1.1. Global GDP Growth Outlook

5.1.2. Global Healthcare Spending Outlook

5.2. Forecast Factors - Relevance & Impact

5.2.1. GDP growth

5.2.2. Aging Population

5.2.3. Prevalence of neurological disorders

5.2.4. Growing healthcare expenditure

TOC continued..!

Have a Look at Healthcare Domain Related Research Reports:

Neurology Digital Therapeutics Market Size : According to the recent research by FMI, the neurology digital therapeutics market is anticipated to witness a 9.0% growth during the forecast period from 2021 to 2031.

Neurovascular Devices / Interventional Neurology Market Trends : The neurovascular devices market share is anticipated to grow with a CAGR of 8.5% from 2022 to 2032. The neurovascular devices market size is likely to raise up to US$ 2.7 Bn in 2022.

Oxygen Conservation Devices Market Outlook : The oxygen conservation devices market is anticipated to have an effective CAGR of 11.1% during the period of 2022-2032.

Neuroendoscopy Devices Market Growth : The neuroendoscopy devices market is anticipated to have an effective CAGR of 7.6% during the period of 2022-2032.

Dental Delivery System Market Forecast : The worldwide dental delivery system market is predicted to be worth US$ 561.0 million by the end of 2022, and to grow at a CAGR of 4.6% to be worth US$ 918.1 million by 2032.

ABOUT FUTURE MARKET INSIGHTS, INC.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Now avail flexible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, interactive playbook for data visualization and full reports through MarketNgage, the market intelligence engine from Future Market Insights. Sign Up for a 7 day free trial!

Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
Enquiries: [email protected]

Logo: https://mma.prnewswire.com/media/1197648/FMI_Logo.jpg

SOURCE Future Market Insights