Global Interventional Neurology Devices Market 2017 to 2021 - Analysis of key players (Abbott, DePuy Synthes, Medtronic, Stryker, and TERUMO)

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Research analysts forecast the global interventional neurology devices market to grow at a CAGR of 7.50% during the period 2017-2021.
Interventional neurology is a specialty that uses minimally invasive, image-guided techniques to treat most of the complex and dangerous diseases of the brain, neck, and spine. Education and research are the main components of the interventional neurology services. The procedures performed by the interventional neurologists are complex. The primary aim is to minimize the risk to the patient by application of image guidance and minimally invasive techniques. The interventional neurologists specialize in the manipulation of needles and the use of fine catheter tubes and wires to navigate around the body using imaging control.

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Technavio recognizes the following companies as the key players in the global interventional neurology devices market:
Abbott, DePuy Synthes, Medtronic, Stryker, and TERUMO.

Other Prominent Vendors in the market are:
Acandis, B. Braun Melsungen, Bayer, Boston Scientific, Biosensors International, evonos, Merit Medical Systems, MicroPort Scientific, Neurosign, Penumbra, Spiegelberg, Surtex Instruments, and W. L. Gore & Associates

One trend in the market is increased funding for R&D of neurotherapies. Currently, the government is providing funding for multiple R&D projects to encourage innovations and technical advances in brain monitoring devices. Many government and non-government agencies are collaborating for the prevention and control of neurological diseases like epilepsy, MS, and brain tumors. They are emphasizing on preventive care compared to curative care.

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According to the report, one driver in the market is increase in incidence of neurological disorders. Over the years, the global health effect of neurological disorders has been underestimated. The neurological services and resources are excessively scarce, particularly in low income and developing countries. Neurological disease is a growing and a severe problem in various parts of the world, which includes the US, Canada, Europe, China, India, and Germany. One of the most common neurological diseases is multiple sclerosis. It is diagnosed by using electroencephalogram to record brainwaves in response to different stimuli. It is most prevalent in Northern Europe, North America, Australia, and New Zealand.

Further, the report states that one challenge in the market is inadequate and inequitably distributed resources. Neurological conditions are causing enormous burden, but they are mostly absent from the international health program. Also, health plans in many countries often do not cover neurological disorders at the equal level as other illnesses, which results in substantial economic problems for patients and their families. In the least developed countries of the world, poor people have higher chances to develop neurological disorders than wealthy people. The people in the least developed countries are not aware about the certain preventive measures that can be taken in the initial stage of diseases.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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