Pediatric Neurology Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Pediatric Neurology Devices Market By Product (Neurosurgery Devices, Neurostimulation Devices, Cerebrospinal Fluid Management Devices, And Others), By Application (Brain Tumor, Epilepsy, Autism Spectrum Disorder, Parkinson's, And Others), By End-User (Hospitals, Speciality Clinics, And Others), and by geography is expected to grow at a steady CAGR forecast till 2030 owing to the increasing prevalence of neurological disorders, and growing demand for minimally invasive treatments across the globe

The global pediatric neurology devices market is estimated to grow at a CAGR of 6.37% during the forecast period from 2024 to 2030. The demand for pediatric neurology devices is primarily being boosted by the increasing prevalence of neurological disorders such as epilepsy, insomnia, migraine, dystonia, tremors, Parkinson's, autism, and others. Further, the rising incidences of brain tumors, the increasing demand for minimally invasive treatments, rising government initiatives for research and development for pediatric neurology devices, the increase in significant applications of neurological devices in pediatric patients, rising product launches and approvals, and others are thereby contributing to the overall growth of the pediatric neurology devices market during the forecast period from 2024-2030.

Pediatric Neurology Devices Market Dynamics:

The pediatric neurology devices market is witnessing a growth in product demand owing to various factors, one of the key factors being the increase in neurological disorders such as migraine, insomnia, autism, tremors, and movement-related disorders like Parkinson's, epilepsy, dystonia, and others.

According to the World Health Organization (2023), it was reported that in 2022 about one in 100 children had autism worldwide, and co-occurring conditions, including epilepsy, depression, anxiety, and attention deficit hyperactivity disorder (ADHD).

Furthermore, according to the Cerebral Palsy Guidance (2023), nearly 500,000 children and teens suffer from cerebral palsy, globally, in 2022. The same source reported that around 10,000 babies worldwide are born each year with cerebral palsy.

Thus, the increasing prevalence of neurological diseases in the pediatric population will increase the demand for various pediatric neurology devices used for the treatment and management of neurological diseases.

Further, the increasing patient preference for minimally invasive treatments is also likely to bode well for the market growth during the forecast period. Minimally invasive pediatric neurology devices offer advantages over conventional surgeries, such as minimal scarring, quicker recovery time, enhanced patient comfort, less post-operational pain, and shortened stay at the hospital.

In addition, rising strategic activities including product launches, approvals, mergers, acquisitions, and others will increase the demand for pediatric neurology devices in the market. For instance, in 2021, Medtronic launched the Percept PC Deep Brain Stimulation (DBS) system which was enabled with BrainSense technology and was designed to capture brain signals while simultaneously delivering therapeutic stimulation, inside and outside of the clinic. It was ergonomically designed and offers enhanced comfort for patients with Parkinson's disease, tremors, dystonia, and epilepsy.

Therefore, the above-mentioned factors are contributing to the growth of the pediatric neurology devices market during the forecast period from 2024-2030.

However, risks associated with various neurological devices, surging demand for various drugs for the management of disease, and others may restrict the pediatric neurology devices market growth.

The pediatric neurology devices market experienced a period of a temporary setback as lockdown restrictions were enforced as a necessary step to curb the spread of COVID-19. The demand for pediatric neurology devices was disrupted owing to the decline in the number of patients in neurology as well as pediatric departments in the hospitals. The market also faced a decline owing to a halt in manufacturing due to various restrictions on the supply chain, resources, and manpower. However, with the resumption of activities and with the vaccine administration, the demand for pediatric neurology devices increased significantly with the increase in the patient's visits to hospitals and clinics for diagnosis and treatment of neurology diseases. Henceforth, the aforementioned factors propelled the demand for pediatric neurology devices during the pandemic and are estimated to grow similarly during the forecast period.

Pediatric Neurology Devices Market Segment Analysis:

Pediatric Neurology Devices Market by Product (Neurosurgery Devices, Neurostimulation Devices, Cerebrospinal Fluid Management Devices, and Others), Application (Brain Tumor, Epilepsy, Autism Spectrum Disorder, Parkinson's, and Others), End-User (Hospitals, Specialty Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the pediatric neurology devices market, the neurostimulation devices category is expected to amass a significant revenue share in the year 2023. This can be ascribed to the advantages associated with neurostimulation devices. These devices aid in the delivery of electrical stimulation to the intended parts of a patient's brain, spinal cord, and peripheral nervous system, which is beneficial for the treatment of movement-related disorders, such as Parkinson's disease, epilepsy, etc.

Further, rising product approvals and launches will create a positive impact on the demand for neurostimulation devices. For instance, in November 2022, NeuroSigma Inc. launched a neurostimulation device that uses external trigeminal nerve stimulation (eTNS) to treat children with attention-deficit/hyperactivity disorder (ADHD). Therefore, the advantages offered by neurostimulation are predicted to contribute to the increasing demand for this product, thereby driving the growth of the overall pediatric neurology devices market during the forecast period.

North America is expected to dominate the overall Pediatric Neurology Devices Market:

Among all the regions, North America is estimated to account for the largest share of the global pediatric neurology devices market in the year 2023. Owing to the significance of key growth factors such as rising incidences of neurological disorders such as cerebral palsy, dystonia, tremors, epilepsy, stroke, and others and the rising demand and awareness about minimally invasive or non-invasive treatment approaches, the North America pediatric neurology devices market is expected to witness positive growth. Apart from this, rising regulatory approvals for better innovative products in the region are expected to fuel market growth.

According to the American Cancer Society (2023), it was estimated that more than 4,000 brain and spinal cord tumors were diagnosed each year in children and teens. Also, the American Society of Clinical Oncology (ASCO) (2023) estimated that 5,230 children under the age of 20 will be diagnosed with central nervous system (CNS) tumors in the United States in 2023.

In 2023, the Center for Disease Control & Prevention (CDC), reported that approximately 1 in 36 children in the US were diagnosed with an autism spectrum disorder (ASD), in 2020. Also, boys are four times more likely to be diagnosed with autism than girls.

Further, the American Migration Foundation (2019), reported that in the United States, approximately 10% of children experienced migraine in 2019.

Thus, the increasing prevalence of neurological diseases in the region will create a necessity for pediatric neurological devices as these devices aid in managing and treating pediatric neurology diseases. Coupled with the factors mentioned above, the increasing regulatory approvals among the key players will also drive the market of pediatric neurology devices.

For instance, in February 2021, gammaCore Sapphire got US Food and Drug Administration (FDA) approval to include the acute and preventive treatment of migraine in adolescents between 12 and 17 years of age. It is a non-invasive, hand-held device that produces a low-voltage electric signal that generates an electric field in the vicinity of the vagus nerve to prevent and relieve headache pain, without the need for surgery.

Thus, such strategic steps help to increase the demand for pediatric neurology devices, thereby driving the North America pediatric neurology devices market forward during the forecast period.

Pediatric Neurology Devices Market Key Players:

Some of the key market players operating in the Pediatric neurology devices market include Medtronic, Abbott, Boston Scientific Corporation, LivaNova PLC, Natus Medical Incorporated, KARL STORZ SE & Co. KG, Zimmer Biomet, Stryker, Integra LifeSciences, B. Braun SE, NeuroSigma, Inc., Desco Medical India, Bicakcilar, Sophysa, Axoft Inc., and others.

Recent Developmental Activities in the Pediatric Neurology Devices Market:

In October 2022, Axoft launched and announced the FDA Breakthrough Device designation for its brain-machine interface (BMI) to treat long-term neurological disorders. It is a minimally invasive device that exhibits electrical stability to track brain signals and deliver an ultra-high density of sensors to maximize the information that can be exchanged between the brain and electronics.

In August 2022, Abbott got US Food and Drug Administration (FDA) approval for its new spinal cord stimulation device, the Proclaim(TM) Plus spinal cord stimulation (SCS) system featuring FlexBurst360(TM) therapy. Not only does it offer pain coverage across up to six areas of limbs but could mimic natural patterns found in the brain.

In February 2019, Medtronic launched Deep Brain Stimulation (DBS) for medically refractory epilepsy which delivers controlled electrical pulses to a target in the brain involved in seizures. It had shown a significant reduction in the frequency and severity of seizures and improved the quality of life of patients.

Key Takeaways from the Pediatric Neurology Devices Market Report Study

Market size analysis for current Pediatric neurology devices market size (2023), and market forecast for 5 years (2024-2030)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the pediatric neurology devices market.

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global pediatric neurology devices market.

Various opportunities available for the other competitor in the pediatric neurology devices market space.

What are the top-performing segments in 2023? How these segments will perform in 2030.

Which are the top-performing regions and countries in the current pediatric neurology devices market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for pediatric neurology devices market growth in the coming future?

Target Audience who can be benefited from this Pediatric Neurology Devices Market Report Study

Pediatric neurology devices products providers

Research organizations and consulting companies

Pediatric neurology devices-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in pediatric neurology devices

Various End-users who want to know more about the pediatric neurology devices market and the latest technological developments in the pediatric neurology devices market.

Frequently Asked Questions for the Pediatric Neurology Devices Market:

1. What are pediatric neurology devices?

Pediatric neurology devices are devices that deal with the treatment and management of various neurological conditions in neonates, infants, children, and adolescents.

2. What is the market for global pediatric neurology devices?

The global pediatric neurology devices market is estimated to grow at a CAGR of 6.37% during the forecast period from 2024 to 2030.

3. What are the drivers for the global pediatric neurology devices market?

The demand for pediatric neurology devices is primarily being heightened by the increasing prevalence of neurological disorders, along with the growing preference for minimally invasive treatments. In addition, increasing novel product launches and approvals will contribute to the overall growth of the pediatric neurology devices market during the forecast period from 2024-2030.

4. Who are the key players operating in the global pediatric neurology devices market?

Some of the key market players operating in the Pediatric neurology devices market include Medtronic, Abbott, Boston Scientific Corporation, LivaNova PLC, Natus Medical Incorporated, KARL STORZ SE & Co. KG, Zimmer Biomet, Stryker, Integra LifeSciences, B. Braun SE, NeuroSigma, Inc., Desco Medical India, Bicakcilar, Sophysa, Axoft Inc., and others.

5. Which region has the highest share in the pediatric neurology devices market?

North America is expected to dominate the overall Pediatric neurology devices market during the forecast period from 2024-2030. Factors such as the rising incidences of cerebral palsy, dystonia, as well as Parkinson's disorder in the pediatric population along with rising demand for minimally invasive treatment approaches and escalating regulatory approvals in the region, are expected to drive the growth of the North American pediatric neurology devices market.