Global Neurology Devices Market is anticipated to reach USD 10.8 billion by 2022. Neurological devices imply “Interventional neurology” is the non-surgical field that uses minimally invasive, image-guided techniques for the treatment of most complex and dangerous diseases of the brain, neck, and spine.
The
factors that propel the growth of the neurology devices market include
increasing demand, rapid urbanization & industrialization, and product
development & technological innovation, large patient pool, growing number
of private hospitals & diagnostic centers, and awareness among people. In
addition, some of the other factors such as demand for effective neurovascular
devices, favorable medical repayment, new product innovation and
commercialization, growth in the number of research activities in the field of
neurovascular therapies, and improvements in healthcare infrastructure across
emerging markets are expected to drive the market further.
On
the other hand, there are factors that may hamper the growth of the market
including the high cost of R&D and complicated government approval
processes. Neurology devices industry is anticipated to grow at a significant
CAGR in the upcoming period as the scope, product types, and its applications
are increasing across the globe.
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Neurology
devices market may be explored by product type, technology, end users,
distribution channel, and geography. The market may be explored by product type
as Neurostimulation (Spinal Cord Stimulation, Sacral Nerve Stimulation, Spinal
Cord Stimulation, Deep Brain Stimulation, Gastric Electric Stimulation, and
Vagus Nerve Stimulation), Aneurysm Coiling & Embolization Devices (Liquid
Embolic Agents, Flow Diversion Devices and Embolic Coils), Neurothrombectomy
Devices (Snares, Suction and Aspiration Devices and Clot Retrievers), Cerebral
Balloon Angioplasty & Stenting Systems (Embolic Protection Systems and
Carotid Artery Stents), and Support Devices (Micro guide wires and Micro
catheters).
The
“Neurostimulation devices” segment led the neurology devices industry in 2015
and is anticipated to maintain its dominance by 2022. The key factors that may
attributed to the growth of market include faster acting stimulation devices,
aged population, and the development of minimally invasive neurological and the
growing number of chronic CNS disorders.
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Based
on technology, the neurology devices market could span Carotid Artery
Angioplasty and Stenting, Neurothrombectomy, Embolization and Coiling and
Supporting Technologies. The market of neurology devices could be explored
based on end users as Ambulatory Surgical Centers, Hospitals and Clinics. The
market could be explored based on distribution channel as online stores,
specialty stores, and others.
North
America accounted for the major market share of the neurology devices in 2017
and will continue to lead in the forecast period. The factors that could be
attributed to the growth include privatization of the healthcare sector,
favorable reimbursement policies, and technological innovations. On the other
hand, the Asia Pacific is expected to show high growth rates in the neurology
devices industry. Factors such as large population base, growing awareness, and
rising number hospital & clinics.
Some
of the key players that fuel the growth of the neurology devices industry
comprise B. Braun Melsungen AG, Medtronic, Integra Life Sciences Holdings
Corp., Stryker Corporation, Ivanova, St. Jude Medical Inc., Micro port
Scientific Corporation and Penumbra Inc. U.S. The leading companies are taking
up partnerships, mergers and acquisitions, and joint ventures in order to boost
the inorganic growth of the industry.
Market
Segment:
Global
Neurology Devices Product Outlook (Market Revenue in USD Million, 2012 - 2022 )
• Neurostimulation
• Spinal Cord Stimulation
• Spinal Cord Stimulation
• Deep Brain Stimulation
• Sacral Nerve Stimulation
• Vagus Nerve Stimulation
• Gastric Electric Stimulation
• Interventional Neurology
• Aneurysm Coiling and Embolization
• Embolic Coils
• Flow Diversion
Devices
• Liquid Embolic
Reagents
• Neurovascular Catheters
• Micro Catheters
• Micro Guidewires
• Cerebral Balloon Angioplasty &Stents
• Carotid Artery Stents
• Filter Devices
• Balloon Occlusion
Devices
• Neurothromobectomy
• Clot Retrievers
• Suction Aspiration
Devices
• Snare Devices
• CSF Management Devices
• Cerebral Shunts
• Cerebral External Drainage
• Neurosurgery Devices
• Ultrasonic Aspirators
• Stereotactic Systems
• Neuroendoscopes
• Aneurysm Clips
Global
Neurology Devices Regional Outlook (Revenue, USD Million, 2012 - 2022)
• North America
• Europe
• Asia Pacific
• RoW
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