Neurology Devices Market Poised for 12.6 % Growth, Set to Hit $33.38 Billion by 2029

Which drivers are expected to have the greatest impact on the over the neurology devices market's growth?
Demand for neurology devices is predicted to surge due to positive government initiatives. Policies, regulations, and schemes focused on ensuring the safety, quality, and enhancement of medical devices form the backbone of such initiatives. The neurology device market can experience significant growth as a result of these beneficial initiatives through the shaping of policies, funding for research and development, granting of fiscal benefits, widening telemedicine reach, boosting public health awareness, and revamping the overall healthcare infrastructure and access. In October 2023, for example, the Total Product Life Cycle Advisory Programme (TAP) got an extension from the Food and Drug Administration, a federal agency in the US under the Department of Health and Human Services, to include neurological and physical medicine devices. This move aims at hastening the evolution of technologies in these fields. The FDA is planning to rope in another four offices to the program and induct up to 65 more devices by the first quarter of 2025. Thus, we can foresee the growth potential of the neurology device market on the back of positive government initiatives.

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What is the future CAGR of the neurology devices market, and how will it impact industry expansion?
The market size of neurology devices has experienced a swift expansion in recent years. Its estimation is to elevate from $18.42 billion in 2024 to $20.79 billion in 2025, with a compound annual growth rate (CAGR) of 12.9%. The surge during the historical phase is traceable to factors such as the quick increase in the geriatric population, fast-paced technological progress, economic development in budding markets, a rise in research and development in the domain, and substantial investments by private entities in neurology devices.

Anticipated to witness swift expansion over the forthcoming years, the neurology devices market is predicted to rise to $33.38 billion by 2029, at a compound annual growth rate (CAGR) of 12.6%. Factors contributing to this growth during the projected period include a burgeoning elderly populace, lifestyle alterations, heightened awareness surrounding neurological disorders, and an increasing prevalence of neurological diseases. Furthermore, rapid economic growth also plays a part. Key trends for the forecast period encompass investments in the progression of neuromodulation devices, the emergence of wearable neurology devices, the launch of new products, the implementation of merger and acquisition strategies, and a surge in research and development activities.

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What are the emerging trends shaping the future of the neurology devices market?
Prominent businesses in the neurology devices market, like BrainTale, are constructing digital platforms like BrainTale-care to boost their product range and improve patient care. BrainTale-care is a bespoke digital platform conceived to monitor and predict neurological disorders. In March 2022, the France-based medical device firm BrainTale launched the BrainTale-care platform. This platform comes with modules like brainQuant, used for white matter quantification, and brainScore-coma, which predicts coma recovery. This innovation serves as a significant stepping stone in the company's evolution, aiming to offer European healthcare professionals and medical teams a trailblazing digital medical device to support decision-making. The ambition of BrainTale is to offer non-invasive, clinically validated solutions to resuscitation experts and neurologists, which can significantly improve the diagnosis, surveillance, and prediction of the progression of neurological ailments.

Which key market segments comprise the neurology devices market and drive its revenue growth?
The neurology devices market covered in this report is segmented -

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

Subsegments:
1) By Cerebrospinal Fluid Management (CSF) Devices And Equipment: CSF Shunts, CSF Drainage Systems, Ventriculostomy Devices
2) By Interventional Neurology Devices And Equipment: Intracranial Stents, Embolic Coils, Neurovascular Catheters
3) By Neurosurgery Devices And Equipment: Surgical Microscopes, Surgical Navigation Systems, Neurosurgical Instruments
4) By Neurostimulation Devices: Deep Brain Stimulation Devices, Spinal Cord Stimulation Devices, Transcranial Magnetic Stimulation Devices

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What regions are at the forefront of neurology devices market expansion?
North America was the largest region in the global neurology devices market in 2024. Asia-Pacific was the second largest region in the global neurology devices market. Africa was the smallest region in the global neurology devices market. The regions covered in the neurology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the leading players fueling growth in the neurology devices market?
Major companies operating in the neurology devices market include Medtronic PLC, Stryker Corporation, Boston Scientific Corporation, Integra LifeSciences, Abbott Laboratories, Terumo Corporation, LivaNova, PLC, Integer, Penumbra, Inc., B. Braun Group, Johnson & Johnson, W.L Gore, St. Jude Medical LLC, Parasym, TUR Therapietechnik GmbH, Smiths Medical, Cizeta Surgical, Neuro France Implants, Ectron, Accentus Medical Ltd, Adaptix, Argonaut Therapeutics, Brainwave Discovery, Cerus Endovascular, Chronus Therapeutics, Natus Medical Incorporated, Cerenovus, Nevro, Aleva Neurotherapeutics SA, Dynatronics Corporation, Cyberonics Inc.

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What Is Covered In The Neurology Devices Global Market Report?

• Market Size Forecast: Examine the neurology devices market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the neurology devices market for a structured understanding.
• Key Players Overview: Analyze major players in the neurology devices market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the neurology devices market.
• Segment Contributions: Evaluate how different segments drive overall growth in the neurology devices market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the neurology devices market.
• Industry Challenges: Identify potential risks and obstacles affecting the neurology devices market.
• Competitive Landscape: Review strategic developments in the neurology devices market, including expansions, agreements, and new product launches.

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