Key Insights into the Neurology Devices Market: Trends, Growth Rate, and Opportunities Through 2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers Contributing to the Growth and Expansion of the Neurology Devices Market?
Government action that supports neurology devices is set to boost their demand. Such initiatives, encompassing rules, policies, and programs, are designed to ensure and promote the safety, quality, and progression of medical devices. Through regulatory influence, funding for research and development, provision of financial incentives, expansion of telemedicine, public health promotion, and general healthcare infrastructure and accessibility enhancements, these favorable government initiatives can have a substantial influence on the neurology device market. For example, the Total Product Life Cycle Advisory Programme (TAP) was expanded to include neurological and physical medicine devices by the US Food and Drug Administration, a federal agency within the Department of Health and Human Services, in October 2023. The aim of this expansion was to accelerate the progress of technology in these fields. By the start of the second quarter of 2025, the FDA plans to incorporate four more offices into the program and add up to 65 more devices. As a result, the future growth of the neurology device market is likely to be driven by these favorable government initiatives.
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#What Long-Term Growth Rate is Expected for theNeurology Devices Market Between 2025 and 2034?
The size of the neurology devices market has seen a swift expansion in the past few years. This market sector is projected to surge from $18.42 billion in 2024 to $20.79 billion in 2025, with a compound annual growth rate (CAGR) of 12.9%. Factors driving growth during the historic period include a surge in the aging population, rapid advancements in technology, economic development in emerging markets, an upsurge in research and development in the sector, and substantial financial contributions by private entities in neurology devices.
In the forthcoming years, the neurology devices market size is anticipated to witness a significant surge, reaching $33.38 billion in 2029 with a compound annual growth rate (CAGR) of 12.6%. Factors contributing to this growth during the forecast period include an aging population, lifestyle shifts, heightened awareness about neurological conditions, an increased prevalence of neurological diseases, and rapid economic expansion. The main trends projected for this period are investments in the development of neuromodulation devices, wearable neurologic devices, the launch of new products, the adoption of mergers and acquisition tactics, and an increase in research and development activities.
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What New Market Trends Are Reshaping theNeurology Devices Market and Its Opportunities?
Leading firms in the neurology devices market like BrainTale are focusing on creating digital platforms, such as BrainTale-care, to improve their product range and refine patient care. BrainTale-care, a bespoke digital platform, is crafted for supervising and forecasting neurological disorders. In March 2022, BrainTale, a medical device company headquartered in France, unveiled the BrainTale-care platform. It comes with features like brainQuant for quantifying white matter and brainScore-coma for projecting coma recovery. This represents a considerable leap in the firm’s evolution as they seek to provide European medical professionals with a novel digital medical technology for aiding decisions. BrainTale’s ambition is to equip resuscitation professionals and neurologists with clinically proven non-invasive techniques that boost the identification, surveillance, and prediction of neurological ailment progression.
Who Are the Leading Market Players Fueling Growth in the Neurology Devices Market Trend?
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.
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How is the Global Neurology Devices Market Segemented?
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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Which Geographics are Influencing the Growth of the Neurology Devices Market?
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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