Neurology Devices Market See Incredible Growth 2024-2031 | B. Braun Melsungen AG, Boston Scientific Corporation, BIONIK Laboratories Corp

Market Overview:

Neurology devices are used in the diagnosis and treatment of neurological disorders. This includes devices for brain and nerve stimulation therapies, neurosurgery devices, interventional neurology devices, and others.

Market Dynamics:

The neurology devices market is expected to witness significant growth over the forecast period owing to rapidly ageing population and subsequent increase in prevalence of neurological disorders. As per data by Alzheimer's Disease International, the number of people living with dementia is estimated to be 55 million worldwide in 2015 and is projected to reach 78 million by 2030 and 139 million by 2050. Moreover, increasing adoption of minimally invasive neurosurgical procedures is also contributing to market growth. Technological advancements allowing targeted drug delivery to the brain and spinal cord is further expected to present lucrative opportunities for market players. However, high costs associated with neurology devices may hinder market growth over the forecast period.

Sample Copy of Research Report @ https://www.coherentmarketinsights.com/insight/request-sample/3889

Some of the Top Players in Neurology Devices Market:

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

Increasing Prevalence of Neurological Disorders is a Key Driver for Neurology Devices Market Growth

The rising prevalence of neurological disorders such as epilepsy, Parkinson's disease, Alzheimer's disease, multiple sclerosis, and stroke has significantly increased the need for neurology devices across the world. As per WHO, around 50 million people worldwide have epilepsy. Additionally, according to the Alzheimer's Association, over 5.8 million Americans of all ages have Alzheimer's disease in 2019. Neurology devices help diagnose and treat such conditions effectively. Advanced devices like MRI scanners, CT scanners, ultrasound scanners, monitors, neurostimulators are in high demand from healthcare facilities as they play a crucial role in neurology care.

Growing Geriatric Population is another Major Driver for Neurology Devices Industry

Aging is the most significant risk factor for neurological disorders. The growing geriatric population worldwide is expected to fuel the demand for neurology devices. As per the UN data, the number of people aged 65 or above is projected to grow from 703 million in 2019 to 1.5 billion in 2050. Older people are more susceptible to develop neurological conditions like Alzheimer's and Parkinson's. With the aging population on the rise, the neurological devices market is anticipated to witness lucrative opportunities in the coming years.

Stringent Regulations and Reimbursement Issues Pose Significant Restraints on Market Growth

While technological advancements and rising awareness about neurological disorders are boosting the demand, stringent regulatory approval processes and reimbursement issues could hamper market growth to some extent. Regulatory authorities like FDA impose rigorous clinical trials and approval procedures for neurology devices to ensure patient safety. Additionally, high costs of neurology devices and low reimbursement rates in developing countries pose affordability challenges. These regulatory compliance issues and budget constraints may restrict wider access to advanced neurology devices globally.

Market Segmentation:

By Device Type: CSF Management devices(CSF Shunt Devices, CSF Drainage Devices)Interventional Neurology Devices(Neuro Thromobectomy, Cerebral Balloon Angioplasty & Stents,Aneurysm Coiling, Support Devices)Neuro-surgery Devices(Neuro-endoscopes, Sterotactic- Systems, Ultrasonic- Aspirators, Aneurysm Clips) Neuro-stimulation Devices(Spinal Cord Stimulation, Deep Brain Stimulation, Sacral Nerve Stimulation, Vagus Nerve Stimulation,Gastric Nerve Stimulation)
By End User: Hospitals, Ambulatory surgery centers, Others

To Purchase Report, Click Here @ https://www.coherentmarketinsights.com/insight/buy-now/3889

Increased Focus on Neurological Disease Management through Remote Patient Monitoring Presents a Major Opportunity

With the advent of digital technologies, there is an increasing focus on developing remote patient monitoring tools for effective neurological disease management. Neurology devices integrated with remote monitoring capabilities allow timely diagnosis, treatment, and management of neurological disorders outside healthcare facilities as well. This helps improve patient outcomes, and convenience. The rising adoption of telehealth and digital health solutions provides lucrative opportunities for neurology device manufacturers to develop IoT integrated remote patient monitoring systems and stay ahead in the competition.

Artificial Intelligence and Big Data Emergence as Key Trends in Neurology Devices Market

Artificial intelligence and big data analytics are revolutionizing the neurology devices arena. Industry players are increasingly leveraging AI, ML, and big data to develop advanced systems that can aid faster and more accurate disease diagnosis, predict outcomes, and facilitate precision care. AI-powered neurology devices can analyze large patient data sets to gain meaningful insights for clinical decision making. The integration of AI is also enabling next-gen devices with augmented capabilities like virtual reality imaging and brain-computer interface. With data becoming the new oil, AI and big data are likely to remain dynamic market trends in the coming decade.

Reasons to Purchase this Report:

👉Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
👉Reports provide opportunities and threats faced by suppliers in the Neurology Devices industry around the world.
👉The report shows regions and sectors with the fastest growth potential.
👉A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
👉The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
👉This report provides the industry's current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.

Get Customized Report @ https://www.coherentmarketinsights.com/insight/request-customization/3889

Questions Answered by the Report:

(1) Which are the dominant players of the Neurology Devices Market?
(2) What will be the size of the Neurology Devices Market in the coming years?
(3) Which segment will lead the Neurology Devices Market?
(4) How will the market development trends change in the next five years?
(5) What is the nature of the competitive landscape of the Neurology Devices Market?
(6) What are the go-to strategies adopted in the Neurology Devices Market?

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:
Mr. Shah
Coherent Market Insights Pvt. Ltd,
📞Phone: U.S.: +1-206-701-6702
📞U.K.: +44-020-8133-4027
📞JAPAN: +81-50-5539-1737
📞INDIA: +91-848-285-0837
✉ Email: sales@coherentmarketinsights.com

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.