The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s neurology devices market report forecasts the neurology devices market size to grow to $26.08 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

Learn More On The Neurology Devices Market Report 2023 – https://www.thebusinessresearchcompany.com/report/neurology-devices-global-market-report

Neurology Devices Market Size Forecast
The global neurology devices market is expected to grow from $15.89 billion in 2022 to $17.67 billion in 2023 at a compound annual growth rate (CAGR) of 11.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neurology devices market is expected to grow to $26.08 billion in 2027 at a CAGR of 10.2%.

North America held the largest neurology devices market share.

Key Neurology Devices Market Driver ­– Increase In The Patient Pool Due To The Rising Geriatric Population Globally
According to the World Health Organization, the number of people aged 60 years and above was 1 billion in 2020 and the number will rise to 1.4 billion by 2030 and it will reach 2.1 billion by 2050. This rise in the geriatric population increased the demand for medical care and drove healthcare expenditure. These factors increased the demand for neurology devices and drove the market during the historic period.

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Key Neurology Devices Market Trend – Investing In The Research And Development
Neurology device manufacturers are investing in the research and development of implantable wireless brain devices to treat neurological and psychiatric diseases. The neuromodulation devices are tiny devices with a wireless neuromodulator, implanted inside the cranium (skull) to communicate with the brain and stimulate nerves in the body. They are equipped with antennas, application-specific integrated circuits, ceramic lid, and feedthrough. These devices are used for relieving depression, traumatic brain injury, stress, and bipolar disorders by manipulating brain signals accordingly. For instance, in August 2020, leading global medical technology player Medtronic rolled out a plan to expand its Hyderabad research and development (R&D) center into its second-largest research hub in five years. The company is investing Rs 1,200 crore for the purpose. The investment planned for five years will see its employee strength go up from the existing 350 to about 1,000. The MEIC will be providing software and engineering services across four key verticals – cardiac, neuro, renal, and minimally invasive surgery of the company.

Neurology Devices Market Segment
1) By Type: Cerebrospinal Fluid Management (CSF) Devices And Equipment, Interventional Neurology Devices And Equipment, Neurosurgery Devices And Equipment, Neurostimulation Devices
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments/Equipment, Disposables

Subsegments Covered: CSF Drainage Systems, CSF Shunts, Aneurysm Coiling & Embolization Devices, Neurothrombectomy Devices, Angioplasty Devices, Interventional Neurology Support Devices, Neurosurgical Navigation Systems, Neurosurgical endoscopes, Aneurysm Clips, Stereotactic Systems, Other Neurosurgery Devices, Implantable Neurostimulation Devices, External Neurostimulation Devices

Neurology Devices Market Major Players and Strategies
Major players in the neurology devices market are Medtronic Inc., Stryker Corporation, Terumo Corporation, Integra Lifesciences, Boston Scientific Corporation, Penumbra, Inc., B. Braun Group, Nevro, LivaNova, PLC, and Natus Medical.

The Neurology Devices Global Market Report 2023 covers regional data on neurology devices market size, neurology devices market trends and drivers, opportunities, strategies, and neurology devices market competitor analysis. The countries covered in the neurology devices market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Neurology devices are used to diagnose, prevent, and treat various neurological disorders such as Alzheimer’s, spinal cord injury, and traumatic brain injury. These devices are also used to restore hearing and sight for patients with limb loss or congenital limb differences.

View More Reports Related To The Neurology Devices Market –
Interventional Neurology Devices And Equipment Global Market Report 2023
Neurosurgery Devices And Equipment Global Market Report 2023
Neurostimulation Devices Global Market Report 2023

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