Press release
Global Neurology Devices Market Edition 2025: Industry Size to Reach USD 26.6 Billion by 2033, CAGR of 6.72%.
The global neurology devices market size reached USD 14.4 Billion in 2024 and is projected to grow to USD 26.6 Billion by 2033, with a CAGR of 6.72% during the forecast period 2025-2033. The growth is driven by increasing prevalence of neurological disorders such as epilepsy, Alzheimer's disease, dementias, and cerebrovascular diseases, alongside technological advancements and rising geriatric population.
Study Assumption Years
• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033
Neurology Devices Market Key Takeaways
• The global neurology devices market size reached USD 14.4 Billion in 2024.
• The market is expected to grow at a CAGR of 6.72% during 2025-2033.
• Favorable government initiatives and healthcare facility expansion are key market drivers.
• Rising incidences of neurological disorders and increasing geriatric population are major trends.
• North America holds the largest market share due to advanced healthcare infrastructure.
• Regulatory hurdles challenge growth while regenerative medicine advancements offer opportunities.
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Market Growth Factors
The neurology devices market growth is largely attributed to rising prevalence of neurological disorders like epilepsy, Alzheimer's disease, dementias, and cerebrovascular diseases. According to WHO, 206 million people suffered from diabetic neuropathy in 2021. Neurological conditions affect coordination, muscle strength, and sensation, increasing demand for effective neurology devices that enhance diagnosis and monitoring.
Technological advancements are fostering the introduction of improved neurology devices with innovative features such as telemedicine capabilities for remote patient monitoring. Examples include Abbott's NeuroSphere myPath digital health app update in 2022 and Medtronic's FDA-approved Percept RC deep brain stimulation system, which enable personalized treatments for disorders like Parkinson's disease.
The expanding global geriatric population further supports market growth. Older adults are more susceptible to neurological diseases such as dementia, stroke, Parkinson's, and Alzheimer's disease, driving the need for neurology equipment and services. WHO projects the population aged 80 years or older will reach 426 million by 2050, increasing demand for healthcare solutions for aging populations.
Market Segmentation
By Product:
• Neurostimulation Devices: The largest segment, key to stimulating nerves and regulating neural pathways, aiding in reduced medication dependence and treatment of depression, migraines, and anxiety.
• Neurosurgery Devices
• Interventional Neurology Devices
• Cerebrospinal Fluid Management Devices
• Others
By End User:
• Hospitals: Lead market share holders, equipped for comprehensive neurological care and able to manage higher patient volumes with specialized resources.
• Ambulatory Surgery Centers
• Neurology Clinics
By Region:
• North America: Largest regional market owing to advanced healthcare infrastructure, research and development, and government support.
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
Regional Insights
North America dominates the neurology devices market, backed by modern healthcare technologies, state-of-the-art institutions, and active research and development fostering innovation. Favorable government initiatives and a high prevalence of neurological disorders underpin this lead. Approximately 13 million Americans are projected to suffer from Alzheimer's disease by 2050, boosting regional demand.
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Recent Developments & News
• On January 14, 2021, Medtronic plc announced the first enrollment in its Adaptive DBS Algorithm for Personalized Therapy trial in Parkinson's disease, assessing safety and efficacy.
• On January 12, 2021, ClearMind Biomedical received FDA 510(k) clearance for its Axonpen System neuroendoscope, which assists in illuminating and visualizing intracranial tissues and controlling aspiration during surgery.
Key Players
• Abbott
• B. Braun SE
• Boston Scientific Corporation
• Integra LifeSciences Corporation
• LivaNova PLC
• Medtronic plc
• Natus Medical Incorporated
• Nihon Kohden Corporation
• Penumbra, Inc
• Stryker Corporation
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About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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