Neurology Devices Market Emerging Trend and Global Demand 2020 to 2030 | Medtronic, Abbott Lab, B. BraunMelsungen AG, Stryker Corporation

Global Neurology Devices Market, delivering a must-read report for industry stakeholders wanting to understand the strategic landscape of this increasing sector. Readers will find an in-depth analysis of the market and how it will impact existing traditional markets, as well as insights into future development and opportunities across the globe.

According to the study, the global neurology devices market is expected to decline from $14 billion in 2019 to $11.8 billion in 2020 at a compound annual growth rate (CAGR) of -16.1%. The decline is mainly because of worldwide supply and demand mismatches of resources due to the COVID-19 outbreak. There is inadequate production of devices used in neurological disease treatment, due to the restrictions imposed by governments of various countries to shut down factories or function with minimal staffing to contain the spread of the virus and keep the staff safe. Additionally, the restrictions on non-essential medical services also hampered market growth. The market is then expected to recover and grow at a CAGR of 10% from 2021 and reach $20.7 billion in 2023.

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Key Players:

Medtronic; Abbott Lab; B. BraunMelsungen AG; Stryker Corporation; LivaNova, request sample for a complete list of companies.

The leading players of the industry, their market share, product portfolio, company profiles are covered in this report. The competitive market scenario among players will help the industry aspirants in planning their strategies.

Summary

North America was the largest region in the global neurology devices market, accounting for 31% of the market in 2019. The Asia Pacific was the second largest region accounting for 30% of the global neurology devices market. Africa was the smallest region in the global neurology devices market.

Wearable technology innovations are a new trend in the neurology device market. Wearable technology helps monitor symptoms automatically and also predicts some serious conditions such as seizures and disease progression before the patient is aware of them. These devices can collect health-related data at any time and anywhere and thus are useful in monitoring or diagnosing several kinds of neurological disorders such as Parkinson’s disease, multiple sclerosis, and epilepsy and also helpful to neurologists treating those patients. For instance, the Massachusetts Institute of Technology is testing a watch that can predict seizures by measuring skin moisture. Neurology devices with electroencephalographic (EEG) sensors are also being developed to record electrical signals along the scalp to measure brain activity.

The neurology devices (or) equipment market consists of sales of neurology devices and related services by entities (organizations, sole traders, and partnerships) that produce neurology devices to diagnose and treat neurological diseases. This industry includes establishments that produce shunts and external drainage systems under cerebrospinal fluid management (CSF) devices to treat a medical condition such as hydrocephalus. It also consists of interventional neurology devices to treat neurovascular diseases and neurosurgery devices.

Markets Covered:
1) By Type: Cerebrospinal Fluid Management (CSF) Devices And Equipment; Interventional Neurology Devices And Equipment; Neurosurgery Devices And Equipment; Neurostimulation Devices
2) By End User: Hospitals And Clinics; Diagnostic Laboratories; Others
3) By Type of Expenditure: Public; Private
4) By Product: Instruments/Equipment; Disposables

Market Segment by Regions:

Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

These segments are thoroughly evaluated on an individual basis and a team of analysts has ensured to give a crystal clear idea about various lucrative segments of the industry. This detailed analysis using segmentation by providing precise results on industry-related markets.

The report also analyzed the evolution of industry trends. Several macroeconomic factors such as Gross domestic product (GDP) and the increasing inflation rate is expected to affect directly or indirectly in the development of the industry.

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Frequently Asked Questions about “Neurology Devices market” :

What will the Neurology Devices market size/ forecast be in 2025?
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Which is the top growing segment/application/end-user industry?
What will be the impact of COVID-19 Pandemic (Coronavirus) on the industry?
Where is the largest and fastest-growing market for the Neurology Devices Market?
How does the market relate to the overall economy, demography, and other similar markets?
What forces will shape the market going forward?

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or 3 countries or nearly 40 analyst hours.

Note:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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This release was published on openPR.