What Factors Propelled The Growth Of The Neurology Devices Market In The Past?
The neurology devices market has seen considerable growth due to a variety of factors.
• Recent years have seen a swift expansion in the market size of neurology devices, poised to rise from $18.42 billion in 2024 to $20.79 billion in 2025, marking a compound annual growth rate (CAGR) of 12.9%.
This growth during the historic period can be traced back to factors such as an accelerated increase in elderly population, swift advancements in technology, economic prosperity in emerging markets, and a rise in research and development in the sector, backed by substantial investments from private entities in neurology devices.
What Is the Forecasted Market Size and Growth Rate for The Neurology Devices Market?
The neurology devices market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the neurology devices market is anticipated to witness swift expansion. It is projected to expand to $33.38 billion by 2029, with a compound annual growth rate (CAGR) of 12.6%.
The escalation during the projection period is primarily due to factors such as a growing elderly population, lifestyle modifications, increasing cognizance about neurological disorders, and the escalating burden of neurological diseases, all fueled by rapid economic growth. Varying trends projected for this period include investments in the creation of neuromodulation devices, the development of wearable neurology devices, the introduction of new products, the adoption of merger and acquisition tactics, and an upsurge in research and development initiatives.
Which Key Drivers Are Propelling Th Neurology Devices Market's Growth?
Government programs that promote neurology devices are predicted to fuel their demand. These initiatives, which include regulations, policies, and strategies, are designed to ensure the safety and improve the quality of medical devices, as well as promote innovation in the field. They can notably reshape the neurology device market through aspects like regulatory influence, financing research and development, granting financial benefits, endorsing telemedicine, advocating for public health awareness, and enhancing the general healthcare infrastructure and accessibility. For example, in October 2023, the Head and Health Services Department's agency in the US, the Food and Drug Administration, broadened the Total Product Life Cycle Advisory Programme (TAP) to include neurological and physical medicine devices in order to hasten technological progress in these fields. By the start of the first quarter of 2025, four more offices are expected to participate in the program and they hope to register up to 65 additional devices. Thus, these beneficial governmental initiatives are likely to foster the expansion of the neurology device market in the coming years.
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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How Are Emerging Trends Reshaping The Dynamics Of The Neurology Devices Market?
Leading firms in the neurology devices sector are embracing digital technology advancements such as the BrainTale-care platform to augment their product ranges and enhance patient treatment outcomes. Developed by Braintale, a French medical device company, the BrainTale-care platform is designed specifically for the prediction and monitoring of neurological disorders. It features unique modules like brainQuant for analyzing white matter and brainScore-coma for forecasting coma recovery. This introduction marked an important milestone in Braintale's growth and commitment to providing doctors and medical teams across Europe with modern digital assistive devices for making informed medical decisions. Braintale is steadfastly geared towards supplying clinically approved, non-invasive solutions to resuscitation specialists and neurologists, capable of improving diagnosis, prediction, and patient monitoring in the context of neurological disease progression.
Who Are the Key Players in the Neurology Devices Market?
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 Is The Most Dominant Region In 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
