Neurology Devices: Global Markets is basically a detailed
study or report about the worldwide market for medical tools used
in treating neurological conditions. These devices could be
anything from equipment that helps stimulate the nervous system to
instruments used in brain surgeries. The report looks at things
like how much these devices are used, where they're used, and how
the market for them is growing. It's helpful for companies that
make these devices, doctors who use them, and others who are
interested in the field to understand what's happening and what
might happen in the future.
BOSTON, March 28,
2024 /PRNewswire/ -- According to the latest
research study, the demand for Neurology Devices: Global
Markets expected to grow from $23.7
billion in 2023 to $31.7
billion by the end of 2028 at a compound annual growth rate
(CAGR) of 6.0% from 2023 through 2028.
This report thoroughly examines the global market for neurology
devices, categorizing it by product type and region. It analyzes
segments like neurosurgical, neuromodulation, neurovascular, and
neurodiagnostic devices across North
America, Latin America,
Europe, Asia-Pacific, and Rest of the World. The study
investigates growth drivers, major players, and newcomers in the
industry. Specifically, it explores neurosurgical instruments,
support equipment like surgical microscopes and navigation systems,
and imaging technologies such as CT and MRI scanners for diagnosing
brain tumors and performing radiosurgery. However, it doesn't
include neuro diagnostic assays or research-focused instruments,
focusing solely on clinical applications.
Non-surgeons are increasingly performing spinal cord stimulation
procedures instead of neurosurgeons due to the rising global burden
of low back pain. With 619 million people affected in 2020 and an
expected increase to 843 million by 2050, when conventional
treatments or surgery aren't suitable, spinal cord stimulation
becomes an option. Typically, neurosurgeons place a device with
electrodes to block pain signals. However, more of these procedures
are being done by non-surgeons in ambulatory centers, contributing
to market growth. In another context, while radiation therapy is
commonly used in cancer treatment, only about 50% of brain cancer
cases can be cured by it. This highlights the need for advanced
technologies to achieve a 100% cure rate, presenting an opportunity
for further development in the field.
Unlock the possibilities in the Global Neurology Devices Market.
Dive into our comprehensive research for valuable insights and
strategic analysis. Click here to explore further.
Key Market Drivers of Neurology Devices: Global
Markets:
- Increasing prevalence of neurological disorders: refers
to the growing occurrence or frequency of conditions affecting the
nervous system, such as Alzheimer's disease, epilepsy, Parkinson's
disease, or multiple sclerosis, among others. It indicates that
these disorders are becoming more widespread in the population over
time.
- Technological advancements for precision therapy and
monitoring: refers to the development and progress of new
technologies that allow for more precise and personalized treatment
and monitoring of medical conditions. This could include
innovations in medical devices, diagnostic tools, imaging
techniques, and data analysis methods that enable healthcare
providers to tailor therapies and closely monitor patients' health
status with greater accuracy and effectiveness.
- Growing healthcare expenditure: refers to the
increasing amount of money being spent on healthcare services,
equipment, medications, and other related expenses. This could be
due to various factors such as population growth, aging
populations, advances in medical technology, rising costs of
healthcare services, and increased demand for healthcare
services.
- Increasing R&D investments: refers to the
rising amount of money being allocated to research and development
(R&D) activities in various fields. This could include
investments made by companies, governments, and other organizations
to fund scientific research, product development, and innovation.
The aim of increasing R&D investments is typically to drive
technological advancements, discover new treatments or therapies,
improve existing products or services, and ultimately stimulate
economic growth and competitiveness.
Request a Sample Copy of the Neurology Devices:
Global Markets:
Report
Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2022
|
Forecast Period
considered
|
2023-2028
|
Base year market
size
|
$22.7
billion
|
Market Size
Forecast
|
$31.7
billion
|
Growth Rate
|
CAGR of 6.0% for the
forecast period of 2023-2028
|
Segment
Covered
|
Product, Type, and
Geographic Region
|
Regions
covered
|
North America, Europe,
Asia-Pacific, Latin America, and Rest of the World
|
Countries
covered
|
U.S., Canada, Mexico,
Brazil, Argentina, Chile, Germany, France, UK, Italy, Spain, China,
India, Japan, and Africa
|
Key Market
Drivers
|
- Increasing
prevalence of neurological disorders.
- Technological
advancements for precision therapy and monitoring.
- Growing healthcare
expenditure.
- Increasing R&D
investments.
|
Segmentation Analysis of Neurology Devices: Global
Markets:
By Product Type- The market for neurology devices is
segmented by product type, including neurosurgical devices,
neuromodulation devices, neurovascular devices, and neurodiagnostic
devices. Neurosurgical devices encompass instruments and support
equipment used in neurosurgery, such as surgical microscopes and
navigation systems. Neuromodulation devices include technologies
that modulate the nervous system's activity, often used in
conditions like chronic pain or movement disorders. Neurovascular
devices are designed to diagnose and treat disorders of the blood
vessels in the brain, while neurodiagnostic devices aid in the
diagnosis of neurological conditions through techniques like
imaging. Each segment addresses specific needs within neurology,
reflecting the diversity and complexity of neurological
healthcare.
By Region: The neurology devices market is divided
into different regions: North
America, Latin America,
Europe, APAC (which stands for
Asia-Pacific), and Rest of the
World (RoW). North America
includes countries like the United
States and Canada,
Latin America covers areas like
Central and South America,
Europe includes countries like the
United Kingdom and Germany, APAC covers places like China and Japan, and the Rest of the World category
includes regions not covered by the other regions. These divisions
help us understand how the market for neurology devices is doing in
different parts of the world.
This report on neurology devices: global markets provide
comprehensive insights and analysis, addressing the following key
questions:
- What is the projected market size and growth rate of the
neurology devices market?
The global neurology devices market is projected to grow from
$22.7 billion in 2022 to $31.7 billion in 2028 at a compound annual growth
rate (CAGR) of 6.0% during the forecast period.
- What are the key factors driving the growth of the neurology
devices market?
The neurology devices: global markets is
propelled by the necessity to treat aged people suffering from
neurological disorder such as Parkinson, Alzheimer's disease using
neurology devices to improved the patient outcome. Growing adoption
of neuro devices in treating chronic pain and management, treating
epilepsy patients who are drug-resistant, increasing awareness
within both medical practitioners and patients plays a pivotal role
in enabling timely diagnosis and intervention. Additionally, the
increasing prevalence of stroke, aneurysm cases and having
accessibility to advanced neurovascular devices such as embolic and
clot retriever drives the demand. Ongoing research endeavors and
collaborative initiatives further contribute to develop advanced
technologies to treat various disease indications in the field of
neurology.
- What segments are covered in the global neurology devices
market?
The neurology devices market is segmented based on the product
type, and by geographic region.
- By Type, which segment will dominate the market by the end
of 2028?
The neurosurgical segment will dominate the market by the end of
2028.
- Which region has the highest market share in the
Myasthenia Gravis market?
North America holds the highest
share in the market.
Some of the Key Market Players Are:
- ABBOTT
- AXONICS INC.
- BOSTON SCIENTIFIC CORP.
- B. BRAUN SE
- DANAHER CORP.
- ELEKTA
- GE HEALTHCARE
- INTEGRA LIFESCIENCES
- JOHNSON & JOHNSON SERVICES INC.
- KONINKLIJKE PHILIPS N.V.
- LIVANOVA PLC
- MEDTRONIC
- NATUS MEDICAL INC.
- NEVRO CORP.
- NIHON KOHDEN CORP.
- PENUMBRA INC.
- STRYKER CORP.
- SIEMENS HEALTHINEERS AG
- TERUMO MEDICAL CORP.
Browse More Related Reports:
Epilepsy Monitoring Devices: Global Market Outlook: is a report
that looks at how devices used to monitor epilepsy are doing around
the world. It checks things like how many of these devices are
being used, where they're being used, and how the market for them
is growing. This information is useful for companies that make
these devices, doctors who use them, and others who want to
understand more about epilepsy and how it's managed.
Neurostimulation: Technologies and Global Markets: is a
report that explores the use of technology to stimulate the nervous
system and its market around the world. It looks at different
devices and techniques used to send signals to the nerves for
treating various conditions like chronic pain or movement
disorders. This report helps companies that make these devices,
doctors who use them, and others interested in understanding how
technology is advancing treatments for neurological conditions.
Directly Purchase a copy of the report with BCC
Research.
For further information or to make a purchase, please get in
touch with info@bccresearch.com.
About BCC Research
BCC Research provides objective, unbiased measurement and
assessment of market opportunities with detailed market research
reports. Our experienced industry analysts' goal is to help you
make informed business decisions, free of noise and hype.
Contact Us
Corporate HQ: BCC Research LLC, 49 Walnut Park, Building 2,
Wellesley, MA 02481, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our
media page for access to our market research library.
Data and analysis extracted from this press release must be
accompanied by a statement identifying BCC Research LLC as the
source and publisher.
Logo:
https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/insights-into-the-future-of-neurology-devices-exploring-the-global-market-report-by-bcc-research-302102228.html
SOURCE BCC Research LLC