Market Overview

The neurology devices market was valued at USD 13.5 billion in 2022 and is expected to rise from USD 14.55 billion in 2023 to USD 26.54 billion by 2032, with a compound yearly growth rate (CAGR) of 7.8% between 2023 and 2032.

Neurology gadgets can assist treat diseases and neurological issues. It could be pathologic conditions that affect the nerve system, spinal cord, or brain. More than 20 million people in America have experienced significant neuropathy diseases, and more than 17% of families include persons suffering from brain impairment. However, as people's awareness grows and technological advancements accelerate, it is likely that regions such as America will dominate the industry.

The Neurology Devices market is experiencing robust growth, driven by the rising prevalence of neurological disorders and advancements in technology. Neurological stimulators, a key segment, are witnessing increased demand for treating conditions like Parkinson's disease and chronic pain. Manufacturers are focusing on innovation and strategic partnerships to enhance product offerings and expand their market presence.

Covid 19 has a significant impact on most industries and businesses, as well as the market for neurology devices. The first epidemic occurred in 2020, and both the medical device industry and the market for interventional neurology equipment were severely impacted. To limit illness transmission, patients are also avoiding admission to healthcare facilities. Also, the lockout had a significant influence on medical equipment manufacture.

Market Segmentation

The market of the Neurology Devices is segmented as per the products, Disease Pathology, End-User, and Region

As per the Product

The market of the Neurology Devices segmented as per the products consists of:

l  Interventional Neurology

l  Neuro Thrombectomy

l  Embolization

l  Neurostimulation

l  Vagus Nerve Stimulation

l  Gastric Electric Stimulation

l  CSF Management

l  Neurosurgery Devices

l  Filter Devices

l  Stenting and Cerebral Balloon Angioplasty

l  Aneurysm Coiling

l  Deep Brain Stimulation Devices

l  Sacral Nerve Stimulation

l  Spinal Cord Stimulation Devices

l  CSF Drainage

l  CSF Shunts

As per Disease Pathology

The market of the Neurology Devices segmented as per the Disease Pathology consists of:

l  Fistulas and Arteriovenous Malformations

l  Carotid Artery Stenosis

l  Cerebral Aneurysms

l  Ischemic Strokes

As per End-User:

The market of the Neurology Devices segmented as per the End-User consists of:

l  Clinics and Hospitals

l  Specialty Center

As per Region

The market of the Neurology Devices segmented as per the region consists of:

l  Asia-Pacific

l  Africa and the Middle East

l  Americas

l  Europe

Regional Classification

As per regional analysis that has been made on the Neurology Devices market share, it is found that the segmentation is done as per the Americas, Europe, Africa, Asia Pacific and the Middle East. Out of which the American region is likely to hold a huge share of the market in the forecast timespan. It is simply due to the increased case of different neurological disorders. Also, the schemes which are supportive of reimbursement along with different key players' presence are improving the growth of the market in the same region. Following it is Europe which is dominating the market because of the technology advancement and government support.

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