Neurology Devices Market Size, Trends, Industry Analysis, Overview, Share And Forecast 2023 To 2030

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The global Neurology Devices Market is estimated to be valued at US$ 24.1 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. 

Market Overview:

Neurology devices market includes various devices used for neurological diseases and disorders diagnosis and treatment. These devices aid in effective management of neurological conditions. Major products are neurostimulators, interventional neurology devices, CSF management devices, and neurosurgery devices. Rising neurological disorders prevalence increases need for effective diagnostic and therapeutic devices.

Market key trends: 

One of the key trends in neurology devices market is increasing adoption of minimally invasive neurology procedures. Minimally invasive surgeries reduce trauma, pain, recovery time and complications compared to open surgeries. Neuro interventional procedures like aneurysm coiling, carotid stenting and neurothrombectomy are increasingly adopted. Technological advances enable neurovascular treatment through tiny incisions and catheters inserted through blood vessels rather than open brain surgeries. This drives demand for interventional neurology devices like flow diversion stents, liquid embolic systems and coiling assist devices in treatment of cerebral aneurysms.

Read More @ https://www.coherentmarketinsights.com/market-insight/neurology-devices-market-3889

Segment Analysis 

The neurology devices market is segmented based on product, indication, end-user, and region. By product, the market is divided into neurostimulation devices, neurosurgery devices, interventional neurology devices, CSF management devices, and others. The neurostimulation devices segment dominated the market in 2023 due to the rising incidence of neurological diseases such as epilepsy, Parkinson's disease, tremor, and other movement disorders. This segment is further divided into TNS devices, DBS devices, SCS devices, and others. The TNS devices sub-segment held the largest share in 2023 owing to increasing FDA approvals and commercialization of new TNS devices globally.

Key Takeaways 

The global Neurology Devices Market is expected to witness high growth, exhibiting a CAGR of 15.% over the forecast period, due to increasing incidence of neurological disorders worldwide. 

Regional analysis: North America dominated the global neurology devices market in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to the rising geriatric population, increasing healthcare expenditure, favorable government initiatives for neurology research, and advanced healthcare infrastructure in the region. Asia Pacific is projected to witness the fastest growth during the forecast period. This growth can be attributed to the rapidly aging population, growing medical tourism industry, and increasing healthcare expenditure in major Asian countries like China and India.

Key players: Key players operating in the neurology devices market include B. Braun Melsungen AG, Boston Scientific Corporation, BIONIK Laboratories Corp., Integra LifeSciences Holdings Corporation, Johnson and Johnson, Magstim Co Ltd., Braintale SAS, Medtronic, Abbott, Zimmer Biomet, Stryker Corporation, Helius Medical Technologies, Inc., Avanos Medical, Inc., W.L. Gore & Associates, Inc., HeadsafeIP Pty Ltd., Cerus Endovascular Ltd., and Cyberonics, Inc. Major players are focusing on new product launches, collaborations, and expansion strategies to gain a competitive edge in the market.

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