DUBLIN--(BUSINESS WIRE)--The "Neurology Devices Market by Product and Geography - Forecast and Analysis 2020-2024" report has been added to ResearchAndMarkets.com's offering.
The prevalence of neurological disorders which include PD, MS, sleep apnea, epilepsy, brain tumors, brain aneurysm, brain stroke, and brain tumors is increasing. These disorders are associated with the central and peripheral nervous systems. Patients experience pain, neurological instability, seizures, paralysis, and muscle weakness under these conditions. Several factors including chromosomal abnormalities or congenital defects in genes cause these neurological conditions. Thus, the increasing prevalence of neurological disorders is set to lead to the expansion of the global neurology devices market at a CAGR of almost 12% during the forecast period.
Strong prevalence of the wearable neurology devices
The growing awareness and need for home care has encouraged the global population to adopt smart wearable devices such as smartwatches and smart bands for seamless monitoring and recording of patient health data through a wireless interface. Additionally, the recorded health data can be shared with healthcare professionals for better patient outcomes. Wearable neurology devices are used for continuous detection and monitoring of patients with neurological disorders such as seizures and PD. The US FDA has already approved an MHealth wearable device, Embrace2, which uses advanced machine learning technology to detect electrodermal activities in patients. This development is expected to have a positive impact on the overall market growth.
This study examines sales of neurology devices in Asia, Europe, North America, and ROW. In 2019, the neurostimulation devices segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as implantable, programmable devices placed surgically to deliver electrical stimulation to the intended parts of the brain will play a significant role in the neurostimulation devices segment maintaining its market position. Also, the global neurology devices market report looks at factors such as increasing prevalence of neurological disorders, growing geriatric population, increasing funding on neurology. However, the high cost of neurology devices, stringent regulations and product recall, and a shortage of neurologists may hamper the growth of the neurology devices industry over the forecast period.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value Chain Analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Neurostimulation devices - Market size and forecast 2019-2024
- Interventional neurology devices - Market size and forecast 2019-2024
- Neurosurgery Devices - Market size and forecast 2019-2024
- Cerebrospinal fluid management devices - Market size and forecast
- Others - Market size and forecast 2019-2024
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- Asia - Market size and forecast 2019-2024
- ROW - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
- Technological advances and new product launches
- Strong penetration of wearable neurology devices
- Growing medical tourism in emerging economies
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
- Abbott Laboratories
- B. Braun Melsungen AG
- Dickinson and Co.
- Boston Scientific Corp.
- Johnson & Johnson Services Inc.
- Medtronic Plc
- MicroPort Scientific Corp.
- Nihon Kohden Corp.
- Penumbra Inc.
- Stryker Corp.
For more information about this report visit https://www.researchandmarkets.com/r/f1t9uw
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.