Market Overview:
The global neuro medical devices market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing prevalence of neurological disorders, rising geriatric population, and technological advancements in neuro medical devices. Based on type, the global neuro medical devices market is segmented into neurostimulation devices, neurosurgery devices, interventional neurology devices, cerebrospinal fluid (CSF) drainage systems and otherdevices. The North American region dominates the global Neuro Medical Devices Market due to high incidence rate of neurological disorders such as Alzheimer’s diseaseand Parkinson’s diseaseand well-developed healthcare infrastructure .
Product Definition:
A neuro medical device is a tool used in the diagnosis or treatment of neurological disorders. These devices can include anything from surgical tools to imaging machines to stimulators. The use of neuro medical devices is important because they allow doctors to diagnose and treat neurological conditions more effectively.
Neurostimulation Devices:
Neurostimulation devices are used to treat conditions associated with the neurological system. These devices produce and deliver electrical stimulation to the brain in order to alter neural activity, either through modulating existing neural circuits or by creating new ones. Neurostimulation is a technique that uses electrical stimulation for treating various neurological disorders such as Parkinson's disease, dystonia, essential tremor, epilepsy and Alzheimer’s disease.
Neurosurgery Devices:
Neurosurgery devices are used in neuro medical devices market for the treatment of disorders such as brain tumors, spinal injuries, epilepsy and Parkinson's disease. The factors that propel the growth of this market include increasing prevalence of neurological diseases and growing awareness about these procedures among people. According to WHO statistics (2018), depression is the second leading cause of disabilities around the world with more than half a billion people being affected by it at any given time.
Application Insights:
Based on application, the global market is segmented into hospitals, neurology clinics and ambulatory care centers. Hospitals held the largest share in 2017 owing to factors such as a large patient base and increasing prevalence of neurological disorders. According to WHO, approximately 1 in 6 people are living with some form of neurodegenerative disease which accounts for over 60 million deaths globally every year. Thus rising incidence rates coupled with a large patient base are expected to drive product demand in this segment over the forecast period.
Neurology clinics & ambulatory care centers is anticipated to be fastest growing segment during the forecast period owing to factors such as an increase in tourist arrivals at resorts and hotels which require minimal or no medical assistance along with increasing awareness about minimally invasive procedures among consumers particularly across developed regions such as North America and Europe.
Regional Analysis:
North America dominated the global market in 2017. The presence of well-established healthcare infrastructure, high awareness levels coupled with the availability of highly skilled neurosurgeons and neurologists are some factors responsible for its large share. Moreover, increasing prevalence of neurological disorders and rising demand for minimally invasive surgeries are also expected to drive regional growth over the forecast period.
Asia Pacific is anticipated to witness lucrative growth during the forecast period owing to improving healthcare facilities in emerging countries such as India & China along with an increase in government initiatives aimed at boosting medical tourism in this region. In addition, favorable government policies encouraging R&D activities by private companies will also boost regional product demand over the next eight years time span. For instance, till 2016 no company could open a manufacturing plant or do clinical trials in China; however since then several foreign players have entered into these markets due to changes made by Chinese Government (GDP Growth Rate Targeting 2020).
Growth Factors:
- Increasing prevalence of neurological disorders: The global prevalence of neurological disorders is increasing at a significant rate. This is primarily due to the aging population, which is more susceptible to these conditions. The Neuro Medical Devices market offers potential treatment options for these patients, thereby driving its growth.
- Technological advancements: The Neuro Medical Devices market is witnessing rapid technological advancements, with new devices and treatments being developed on a regular basis. This has led to an increase in the adoption of these devices by healthcare providers and patients alike, propelling the market’s growth.
- Rising awareness about neuro-degenerative diseases: There is a growing awareness among people about neuro-degenerative diseases such as Alzheimer’s and Parkinson’s disease. This has led to an increase in demand for Neuro Medical Devices that can help treat or manage these conditions effectively, fueling the market’s growth prospects further.
Scope Of The Report
Report Attributes
Report Details
Report Title
Neuro Medical Devices Market Research Report
By Type
Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Cerebrospinal Fluid Devices, Others
By Application
Hospitals, Neurology Clinics, Ambulatory Care Centers
By Companies
Abbott Laboratories, B. BRAUN MELSUNGEN AG, Boston Scientific Corporation, Integra LifeSciences Holdings Corporation, Johnson & Johnson, LivaNova PLC, Medtronic Plc, Magstim Co Ltd., Penumbra, Inc., Stryker Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
205
Number of Tables & Figures
144
Customization Available
Yes, the report can be customized as per your need.
Global Neuro Medical Devices Market Report Segments:
The global Neuro Medical Devices market is segmented on the basis of:
Types
Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Cerebrospinal Fluid Devices, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Neurology Clinics, Ambulatory Care Centers
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Abbott Laboratories
- B. BRAUN MELSUNGEN AG
- Boston Scientific Corporation
- Integra LifeSciences Holdings Corporation
- Johnson & Johnson
- LivaNova PLC
- Medtronic Plc
- Magstim Co Ltd.
- Penumbra, Inc.
- Stryker Corporation
Highlights of The Neuro Medical Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Neurostimulation Devices
- Neurosurgery Devices
- Interventional Neurology Devices
- Cerebrospinal Fluid Devices
- Others
- By Application:
- Hospitals
- Neurology Clinics
- Ambulatory Care Centers
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Neuro Medical Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Neuro medical devices are devices that are used to diagnose, treat, and monitor conditions in the brain and spinal cord. These devices can be used to help people with conditions such as epilepsy, stroke, Alzheimer's disease, Parkinson's disease, and multiple sclerosis.
Some of the major companies in the neuro medical devices market are Abbott Laboratories, B. BRAUN MELSUNGEN AG, Boston Scientific Corporation, Integra LifeSciences Holdings Corporation, Johnson & Johnson, LivaNova PLC, Medtronic Plc, Magstim Co Ltd., Penumbra, Inc., Stryker Corporation.
The neuro medical devices market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Neuro Medical Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Neuro Medical Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Neuro Medical Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Neuro Medical Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Neuro Medical Devices Market Size & Forecast, 2018-2028
4.5.1 Neuro Medical Devices Market Size and Y-o-Y Growth
4.5.2 Neuro Medical Devices Market Absolute $ Opportunity
Chapter 5 Global Neuro Medical Devices Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Neuro Medical Devices Market Size Forecast by Type
5.2.1 Neurostimulation Devices
5.2.2 Neurosurgery Devices
5.2.3 Interventional Neurology Devices
5.2.4 Cerebrospinal Fluid Devices
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Neuro Medical Devices Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Neuro Medical Devices Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Neurology Clinics
6.2.3 Ambulatory Care Centers
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Neuro Medical Devices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Neuro Medical Devices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Neuro Medical Devices Analysis and Forecast
9.1 Introduction
9.2 North America Neuro Medical Devices Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Neuro Medical Devices Market Size Forecast by Type
9.6.1 Neurostimulation Devices
9.6.2 Neurosurgery Devices
9.6.3 Interventional Neurology Devices
9.6.4 Cerebrospinal Fluid Devices
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Neuro Medical Devices Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Neurology Clinics
9.10.3 Ambulatory Care Centers
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Neuro Medical Devices Analysis and Forecast
10.1 Introduction
10.2 Europe Neuro Medical Devices Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Neuro Medical Devices Market Size Forecast by Type
10.6.1 Neurostimulation Devices
10.6.2 Neurosurgery Devices
10.6.3 Interventional Neurology Devices
10.6.4 Cerebrospinal Fluid Devices
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Neuro Medical Devices Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Neurology Clinics
10.10.3 Ambulatory Care Centers
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Neuro Medical Devices Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Neuro Medical Devices Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Neuro Medical Devices Market Size Forecast by Type
11.6.1 Neurostimulation Devices
11.6.2 Neurosurgery Devices
11.6.3 Interventional Neurology Devices
11.6.4 Cerebrospinal Fluid Devices
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Neuro Medical Devices Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Neurology Clinics
11.10.3 Ambulatory Care Centers
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Neuro Medical Devices Analysis and Forecast
12.1 Introduction
12.2 Latin America Neuro Medical Devices Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Neuro Medical Devices Market Size Forecast by Type
12.6.1 Neurostimulation Devices
12.6.2 Neurosurgery Devices
12.6.3 Interventional Neurology Devices
12.6.4 Cerebrospinal Fluid Devices
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Neuro Medical Devices Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Neurology Clinics
12.10.3 Ambulatory Care Centers
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Neuro Medical Devices Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Neuro Medical Devices Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Neuro Medical Devices Market Size Forecast by Type
13.6.1 Neurostimulation Devices
13.6.2 Neurosurgery Devices
13.6.3 Interventional Neurology Devices
13.6.4 Cerebrospinal Fluid Devices
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Neuro Medical Devices Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Neurology Clinics
13.10.3 Ambulatory Care Centers
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Neuro Medical Devices Market: Competitive Dashboard
14.2 Global Neuro Medical Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Abbott Laboratories
14.3.2 B. BRAUN MELSUNGEN AG
14.3.3 Boston Scientific Corporation
14.3.4 Integra LifeSciences Holdings Corporation
14.3.5 Johnson & Johnson
14.3.6 LivaNova PLC
14.3.7 Medtronic Plc
14.3.8 Magstim Co Ltd.
14.3.9 Penumbra, Inc.
14.3.10 Stryker Corporation
