Neurology Devices Market Outlook, End Users Analysis and Share by Type to 2022

The Neurology Devices Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

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.

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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.

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).

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.

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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.

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