Neurology Devices Market 2021 – Trends, Global Demand, Analysis, Technology Innovation, Research Report, Size, Share and Regional Growth by 2027

Market Highlights

According to MRFR analysis, the Global Neurology Devices Market is expected to register a CAGR of 10.2% during the forecast period of 2020 to 2027 and reach USD 21,029.7 Million by 2027.

Neurology devices are used for the treatment of neurological disorders that comprise pathophysiological conditions that affect the brain, spinal cord, and nervous system.

Request Free Sample @ https://www.marketresearchfuture.com/sample_request/9768 

The market for neurology devices is expected to grow at boost due to a surge in the prevalence of the neurological disorder, a growing aging population, increasing adoption of technologically advanced devices, and growing demand for minimally invasive devices. However, high cost and stringent regulatory government regulations are some of the factors expected to hinder the growth of the market.

The global market is expected to witness a profitable growth owing to the rise in neurological disorders such as Parkinson’s, Alzheimer’s, epilepsy, depression, and essential tremors. As per the statistics of WHO in 2017, around 50 million people all over the world were affected by epilepsy. Additionally, Alzheimer’s Research UK stated that over 50.8 million people worldwide were affected by dementia in 2017 and was expected to reach 55 million patients in 2020. Moreover, this number would double every 20 years, reaching 75 million by 2030 and 131.5 million by 2050. These huge prevalence of neurological disorders among the population and rising healthcare expenditure for neurological disorders are driving the growth of the neurology devices market.

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas region held the largest market in 2019, owing to the increasing adoption of technological devices, favorable reimbursement scenarios, and the presence of major manufacturers among others. The neurology devices market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European neurology devices market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The neurology devices market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing geriatric population, the market in Asia-Pacific is expected to be the fastest-growing. The neurology devices market in the Middle East & Africa has been divided into the Middle East and Africa.

Segmentation

The global neurology devices market has been segmented based on the product, and end user.

Based on product the market is segmented into neurostimulation, Interventional neurology, CSF management, and Neurosurgery devices. Neurostimulation segment accounted for the major market share owing to the increasing prevalence of epilepsy, Parkinson’s disease, tremor, dystonia, depression, obsessive-compulsive disorder, Tourette syndrome, chronic pain, and cluster headache. The segment is further bifurcated by spinal cord stimulation devices, deep brain stimulation devices, sacral nerve stimulation, vagus nerve stimulation, and gastric electric stimulation.

Interventional neurology segment is divided into aneurysm coiling & embolization (embolic coils, flow diversion devices, liquid embolic agents), cerebral balloon angioplasty & stenting (carotid artery stents, filter devices, balloon occlusion devices), neurothrombectomy (clot retriever, suction aspiration devices, snares). Moreover, CSF management is further distributed into the following sub-segments, CSF shunts, and CSF drainage. The neurosurgery devices segment is further sub-segmented into ultrasonic aspirators, stereotactic systems, neuroendoscopes, and aneurysm clips. The segment is expected to grow at the fastest CAGR during the forecast period owing to the increasing demand for non-invasive neurosurgery. 

The market based on end users has been segmented into hospitals & clinics, specialty centers, and others. The hospitals and clinics segment is expected to hold the largest market share owing to the larger patient footfall in hospitals.

Key Players

Some of the key players in the global neurology devices market are B. Braun Melsungen AG, Boston Scientific Corporation, Integra LifeSciences Holdings Corporation, Johnson and Johnson, Medtronic Inc., St. Jude Medical, Inc., Stryker Corporation, W.L. Gore & Associates, Inc., and Esaote, among others

Browse Complete Report @ https://www.marketresearchfuture.com/reports/neurology-devices-market-9768 

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.