Outlook on the Neurology Devices Industry to 2026 - Global Opportunity Analysis and Industry Forecast - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Neurology devices Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.

The global neurological devices market was valued at $9,242.67 million in 2018, and is expected to reach $ 17,410.40 million by 2026, registering a CAGR of 8.1% from 2019 to 2026. Neurovascular devices such as cerebrospinal fluid management devices and interventional devices majorly find their application in the treatment of neurological disorders, including Alzheimer's, tumors, depression, and stroke. Moreover, there are various other devices or instruments used for the treatment of neurological diseases such as catheters, stents, ultrasonic aspirators, and stereotactic system.

The growth of the global neurology devices market is driven by significant rise in geriatric population across the globe, rise in demand for minimally invasive surgeries, and development of advanced neurological devices. In addition, increase in prevalence of neurological disorders across the globe propels the demand for neurology devices, thereby supplementing the growth of the global market. In addition, rise in geriatric population poses risk for increase in incidence of neurovascular disorders (such as stroke).

However, enforcement of stringent government regulations toward the approval of these devices and lack of skilled neurosurgeons are the key factors anticipated to hamper the market growth. Conversely, the introduction of new products and technological advancements in neurological devices have aided in the efficient treatment of many neurovascular disorders, which is expected to provide lucrative opportunities for market expansion during the forecast period.

The global neurological devices market is segmented into product, end user, and region. By product, the market is categorized into neurostimulation devices, neurosurgery devices, interventional neurology devices, cerebrospinal fluid management devices, and others. Depending on end user, it is classified into hospitals, neurology clinics, and ambulatory care centers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

• The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
• It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
• Comprehensive analysis of four regions is provided to determine the prevailing opportunities.
• Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.

Key Players

• Abbott Laboratories
• B. Braun Melsungen AG
• Boston Scientific Corporation
• Integra LifeSciences Holdings Corporation
• LivaNova PLC
• Johnson & Johnson
• Medtronic Plc
• Magstim Co Ltd.
• Penumbra, Inc.
• Stryker Corporation

Key Findings of the Study

• By product, the cerebrospinal fluid management devices segment accounted for the highest market share of 30% in 2018, and is anticipated to grow at the fastest rate during the forecast period.
• Region wise, North America was the major shareholder in 2018, accounting for the highest share of 42%.
• Depending on end user, the neurological clinics segment is expected to grow at a CAGR of 9.0% during the forecast period.
• On the basis of product, the neurosurgery devices segment dominated the market in 2018, and is anticipated to maintain its dominance during the forecast period.

Market Dynamics

Drivers

• Surge In Neurological Disorders
• Rising Demand For Noninvasive Diagnostic Techniques For Neurological Disorders

Restraint

• Implementation of Stringent Government Regulations Towards Approval of Neurology Devices

Opportunity

• Various Growth Opportunities In Emerging Economies
  

Companies Profiled

• Abbott Laboratories
• B. Braun Melsungen Ag
• Boston Scientific Corporation
• Integra Lifesciences Holdings Corporation
• Johnson & Johnson
• Livanova Plc
• Medtronic Plc
• Magstim Co Ltd.
• Penumbra, Inc.
• Stryker Corporation
  

For more information about this report visit https://www.researchandmarkets.com/r/hhvpw7