Global Neurology Devices Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
17 Feb, 2021
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. This market is segmented into cerebrospinal fluid management (CSF) devices and equipment; interventional neurology devices and equipment; neurosurgery devices and equipment; neurostimulation devices.
Global Neurology Devices Market Size And Drivers:
The global neurology devices market is expected to grow from $11.85 billion in 2020 to $13.38 billion in 2021 at a compound annual growth rate (CAGR) of 12.9%. The market is expected to reach $19.25 billion in 2025 at a CAGR of 10%. The increase in patient pool due to rising geriatric population globally, contributed significantly to the growth of the neurology devices market during the historic period.
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Trends In The Global Neurology Devices Market
Neurology devices manufacturers are investing in research and development of implantable wireless brain devices to treat neurological and psychiatric diseases. The neuromodulation devices are tiny devices with wireless neuromodulator, implanted inside the cranium (skull) to communicate with 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.
Global Neurology Devices Market Segments:
The global neurology devices market is further segmented based on type, end user, type of expenditure, product and geography.
By Type:Cerebrospinal Fluid Management (CSF) Devices And Equipment, Interventional Neurology Devices And Equipment, Neurosurgery Devices And Equipment, Neurostimulation Devices.
By End User:Hospitals And Clinics, Diagnostic Laboratories, Others.
By Type of Expenditure:Public, Private.
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.
By Geography:The global neurology devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest region in the global neurology devices market, accounting for 31% of the total market.
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Neurology Devices Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides neurology devices market overviews, analyzes and forecasts market size and growth for the global neurology devices market, neurology devices market share, neurology devices market players, neurology devices market segments and geographies, neurology devices market’s leading competitors’ revenues, profiles and market shares. The neurology devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.