NEUROLOGY DEVICES MARKET ANALYSIS

Neurology Devices Market, By Device Type (CSF Management devices (CSF Shunt Devices and CSF Drainage Devices), Interventional Neurology Devices (Neuro Thromobectomy, Cerebral Balloon Angioplasty & Stents, Aneurysm Coiling, and Support Devices), Neuro-surgery Devices (Neuro-endoscopes, Sterotactic- Systems, Ultrasonic- Aspirators, and Aneurysm Clips), and Neuro-stimulation Devices (Spinal Cord Stimulation, Deep Brain Stimulation, Sacral Nerve Stimulation, Vagus Nerve Stimulation, and Gastric Nerve Stimulation)), By End user (Hospitals, Ambulatory Surgery Centers, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) -

Published In : Jun 2023
Code : CMI3889
Pages :170
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges And Opportunities

Global Neurology Devices Market- Drivers

Increase in the product approval by the regulatory bodies

Increase in the product approval by the regulatory bodies is expected to drive the growth of the global neurology devices market over the forecast period. For instance, in May 2020, Helius Medical Technologies, Inc., a neurotech company, received Breakthrough Designation for its PoNS device as a potential treatment for gait deficit due to symptoms of multiple sclerosis.

An increase in the adoption of inorganic growth strategies such as acquisition by the key players in the market

An increase in the adoption of inorganic growth strategies such as acquisition by the key players in the market is expected to drive the growth of the market over the forecast period. For instance, in July 2021, ArchiMed, an investment firm focused exclusively on the healthcare industry, announced the acquisition of Natus Medical Incorporated, a provider of medical device solutions to screen, diagnose, and treat disorders affecting the brain, neural pathways, and eight sensory nervous systems.

Global Neurology Devices Market: Key Trends

Increase prevalence of neurology disorder

Increase in the prevalence of neurology disorders such as stroke is expected to drive the growth of the market over the forecast period. For instance, data published on May 4, 2023, on Centers for Disease Control and Prevention (CDC), stated that every year, more than 795,000 people in the U.S. have a stroke. About 610,000 of these are first or new strokes.