Exploring Key Insights of the Neurology Devices Market: Growth Prospects, Emerging Trends, and Opportunities
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How has the neurology devices market grown over the years?
The scale of the neurology devices market has been expanding swiftly in the past few years. From $18.42 billion in 2024, it is projected to elevate to $20.79 billion in 2025, marking a compound annual growth rate (CAGR) of 12.9%. Factors like the swell in aged populace, rapid technological advancements, an emergent economy in new markets, the upsurge in research and development within the field, and substantial financial contributions by privatized sectors towards neurology devices have fueled this growth during the historical period.
What Is the forecasted market size and growth rate for the neurology devices market?
Expectations for robust expansion in the laptops market size in the upcoming years are high, with a projected value of $391.11 billion in 2029 and a compound annual growth rate (CAGR) of 8.5%. The increase over the forecast period could be due to sustained trends in remote work, versatile and hybrid work structures, advancements in educational technologies, growth in digital content creation, and availability of affordable and entry-level options. Key trends during the forecast period comprise a focus on extended battery life, larger storage capacities, improved graphics performance, features ensuring privacy and security, and characteristics that are conducive to remote work.
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What are the major factors driving growth in the neurology devices market?
The anticipated growth in the demand for neurology devices can be attributed to positive government initiatives. Such initiatives pertaining to medical devices include policies, regulations, and schemes that regulate, encourage, and ensure the safety and quality of healthcare products. The role of government initiatives is crucial in shaping the neurology device market. They can affect legislation, fund research and innovation, provide financial encouragements, widen telemedicine access, advance public health consciousness, and enhance the overall healthcare framework and reach. In October 2023, the Total Product Life Cycle Advisory Programme (TAP) was broadened to include neurological and physical medicine devices by the Food and Drug Administration, a federally managed agency within the US Department of Health and Human Services. This measure was put in place to speed up technological advancements in these sectors. The FDA aims to incorporate four more offices into the program and register up to 65 additional devices by the start of 2025. As a result, these favorable government initiatives are projected to fuel the expansion of the neurology device market in coming times.
What key areas define the segmentation of the global neurology devices Market?
The neurology devices market covered in this report is segmented –
1) By Type: Cerebrospinal Fluid Management (CSF) Devices And Equipment, Interventional Neurology Devices And Equipment, Neurosurgery Devices And Equipment, Neurostimulation Devices
2) By Type of Expenditure: Public, Private
3) By Product: Instruments/Equipment, Disposables
4) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
Subsegments:
1) By Cerebrospinal Fluid Management (CSF) Devices And Equipment: CSF Shunts, CSF Drainage Systems, Ventriculostomy Devices
2) By Interventional Neurology Devices And Equipment: Intracranial Stents, Embolic Coils, Neurovascular Catheters
3) By Neurosurgery Devices And Equipment: Surgical Microscopes, Surgical Navigation Systems, Neurosurgical Instruments
4) By Neurostimulation Devices: Deep Brain Stimulation Devices, Spinal Cord Stimulation Devices, Transcranial Magnetic Stimulation Devices
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What are the top market players propelling the growth of the neurology devices industry?
Major companies operating in the neurology devices market include Medtronic PLC, Stryker Corporation, Boston Scientific Corporation, Integra LifeSciences, Abbott Laboratories, Terumo Corporation, LivaNova, PLC, Integer, Penumbra, Inc., B. Braun Group, Johnson & Johnson, W.L Gore, St. Jude Medical LLC, Parasym, TUR Therapietechnik GmbH, Smiths Medical, Cizeta Surgical, Neuro France Implants, Ectron, Accentus Medical Ltd, Adaptix, Argonaut Therapeutics, Brainwave Discovery, Cerus Endovascular, Chronus Therapeutics, Natus Medical Incorporated, Cerenovus, Nevro, Aleva Neurotherapeutics SA, Dynatronics Corporation, Cyberonics Inc.
What are the key trends shaping the future of the neurology devices market?
Leading firms in the neurology devices market, such as BrainTale, are pioneering digital platforms like BrainTale-care to enrich their product range and elevate patient care standards. Specifically designed to monitor and forecast neurological conditions, BrainTale-Care is a unique, dedicated digital service. In March 2022, France’s braintale announced the advent of the BrainTale-Care platform, equipped with features like brainQuant for calculating white matter and brainScore-coma for estimating coma recovery. This represents a crucial milestone in the company’s expansion strategies, intending to provide European healthcare professionals and medical squads with an advanced digital medical instrument for assisting their decision-making process. BrainTale strives to equip neurologists and resuscitation specialists with clinically proven, non-invasive techniques to improve neurological disease diagnosis, tracking, and progression prediction.
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What regions are dominating the neurology devices market growth?
North America was the largest region in the global neurology devices market in 2024. Asia-Pacific was the second largest region in the global neurology devices market. Africa was the smallest region in the global neurology devices market. The regions covered in the neurology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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