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The neurology devices market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of 10%, as per The Business Research Company’s market report!

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The Neurology Devices Market Size In 2022 And Forecast

The global neurology devices market grew from $13.94 billion in 2021 to $15.8 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The neurology devices market is expected to grow to $23.11 billion in 2026 at a CAGR of 10.0%.

The neurology devices market consists of sales of neurology devices and related services by entities (organizations, sole traders, and partnerships) that produce neurology devices to diagnose and treat neurological diseases.

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Increase In The Patient Pool Due To The Rising Geriatric Population Globally Is Driving The Growth Of The Neurology Devices Market

According to the Population Reference Bureau, the share of the population over the age of 65 in the global population increased to 9% in 2019. The global population aged 65 years or over was 703 million in 2019. 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.

Competitive Landscape And The Regional Analysis Of The Neurology Devices Market

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.

Additionally, as per TBRC’s research – North America was the largest region in the neurology devices market in 2021 holding the largest market share.

The Neurology Devices Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the neurology devices market.

Investing In The Research And Development Of Implantable Wireless Brain Devices – A Key Trend In The Neurology Devices Market

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.

Neurology Devices Market Segmentation By The Business Research Company

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

Here Are Some Reports Related To The Neurology Devices Market –

Interventional Neurology Devices And Equipment Global Market Report 2022

Neurostimulation Devices Global Market Report 2022

Brain And Neuroimaging Devices Global Market Report 2022

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