Neurology Devices Market Growth, Trend | Analysis 2023-2028
The latest research study “Neurology Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global neurology devices market size reached US$ 12.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.9% during 2023-2028.
What is Neurology Device?
Neurology devices represent specialized equipment that aid in diagnosing, treating, and preventing multiple neurological diseases and conditions. They can be of numerous types, including neurostimulation devices, neurosurgery devices, interventional neurology devices, cerebrospinal fluid management devices, etc. These neurology devices prove highly effective in providing adequate treatments to individuals suffering from complex disorders, such as Alzheimer’s disease, Parkinson’s disease, epilepsy, spinal cord injury, etc. They can even be used to help restore sight and hearing and provide an improved function for those with limb loss or congenital limb differences. Consequently, neurology devices find extensive applications across various segments of the healthcare sector, including hospitals, ambulatory surgery centers, neurology clinics, etc.
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Neurology Devices Market Trends and Drivers:
The expanding healthcare sector, especially in developing countries, and the increasing prevalence of critical neurological ailments are among the key factors driving the neurology devices market. In addition to this, the growing geriatric population and the elevating incidences of neurovascular illnesses, which include stroke, among the elderly are also positively influencing the global market.
Apart from this, the shifting preferences toward minimally invasive surgeries (MIS) and the launch of technologically advanced product variants are acting as significant growth-inducing factors. Moreover, the inflating investments by leading players in research and development (R&D) activities related to neurostimulation devices are further catalyzing the market growth.
Besides this, the rising adoption of artificial intelligence (AI) in neurology and the introduction of computer-aided diagnosis (CAD) systems integrated with AI and advanced signal processing techniques that can assist clinicians in analyzing and interpreting physiological images and signals more effectively are expected to propel the neurology devices market over the forecasted period.
Global Neurology Devices Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Neurology Devices Companies:
Abbott Laboratories, B. Braun, Boston Scientific Corporation, Integra LifeSciences, LivaNova PLC, Medtronic plc, Nihon Kohden Corporation, Penumbra Inc. and Stryker Corporation.
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The report has segmented the market on the basis of product and end user.
Breakup by Product:
· Neurostimulation Devices
· Neurosurgery Devices
· Interventional Neurology Devices
· Cerebrospinal Fluid Management Devices
· Others
Breakup by End User:
· Hospitals
· Ambulatory Surgery Centers
· Neurology Clinics
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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