Pediatric Neurology Device Market Report 2024 - Pediatric Neurology Device Market Growth And Share

"The Business Research Company recently released a comprehensive report on the Global Pediatric Neurology Device Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, the pediatric neurology device market size has grown strongly in recent years. It will grow from $2.33 billion in 2023 to $2.5 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increased awareness and early diagnosis, government support for pediatric healthcare, collaborations in pediatric neurological research, improvements in pediatric healthcare infrastructure, growing prevalence of pediatric neurological disorders, patient advocacy and support groups..

The pediatric neurology device market size is expected to see strong growth in the next few years. It will grow to $3.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to global emphasis on child health, integration of personalized medicine, rising awareness of early intervention, global health policies for children, international collaboration in pediatric healthcare.. Major trends in the forecast period include advancements in wearable neurological monitoring devices, integration of artificial intelligence in diagnostic tools, development of pediatric-specific neuromodulation devices, expansion of telehealth and remote monitoring solutions, introduction of child-friendly neuroimaging technologies, focus on non-invasive and minimally invasive interventional techniques..

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Market Drivers and Trends:
The rising prevalence of autism in children is expected to boost the growth of the pediatric neurology devices market going forward. Autism is a developmental condition that interferes with how a person perceives and interacts with others, making it difficult for them to communicate and interact with others. Pediatric neurology devices are designed to help children with autism to be diagnosed and treated, and they also aid with their quality of life, social skills, and cognitive and behavioral symptoms. For instance, in March 2023, according to the Centers for Disease Control and Prevention (CDC), a US-based government organization, data from 11 communities in the Autism and Developmental Disabilities Monitoring (ADDM) Network in the US, showed that one in 36 (2.8%) 8-year-old children have been identified with autism spectrum disorder (ASD). Therefore, the rising prevalence of autism in children is driving the growth of the pediatric neurology devices market.

Major companies operating in the pediatric neurology device market are developing new products, such as external trigeminal nerve stimulation devices, to meet larger customer bases, increase sales, and increase revenue. An external trigeminal nerve stimulation device is a minimally invasive medical treatment that uses a small electrical device applied to the forehead to administer neuromodulation. For instance, in October 2022, NeuroSigma Inc., a US-based medical device company, launched Monarch external Trigeminal Nerve Stimulation (eTNS) System to treat patients with attention-deficit/hyperactivity disorder (ADHD) aged 7 to 12 who are not receiving medication for the condition. This device's unique feature is that, while a patient sleeps, a small patch is applied to their forehead, delivering a low-level electrical pulse to the trigeminal nerve. Based on the clinician-administered ADHD Rating Scale (ADHD-RS) score, clinical trial results demonstrated that treatment with the eTNS device improved ADHD symptoms statistically significantly more than placebo.

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Major Key Players of the Market:
Johnson & Johnson Co, Abbott Laboratories, Medtronic Plc, Fujifilm Holdings Corporation, Siemens Healthineers AG, Koninklijke Philips NV, Stryker Corporation, GE HealthCare Technologies Inc., Baxter International Inc., Boston Scientific Corporation, B. Braun Melsungen AG, Zimmer Biomet Holding Inc., Terumo Corporation, Inova Health System, Masimo Corporation, KARL STORZ SE & Co. KG, Nihon Kohden Corporation, Integra LifeSciences Holdings Corp., Elekta AB, LivaNova PLC, Natus Medical Incorporated, Allengers Medical Systems Limited, Compumedics Limited, Cadwell Industries Inc., Spiegelberg GmbH & Co. KG, Elana Inc.

Pediatric Neurology Device Market 2024 Key Insights:
• The pediatric neurology device market is expected to grow to $3.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Rising Autism Prevalence Drive The Pediatric Neurology Devices Market
• Advancements In Pediatric Neurology Devices To Drive Revenues
• North America was the largest region in the pediatric neurology device market in 2023

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