Market Research Report
Neurology Devices Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||949409|
Delivery time: 2-3 business days
|Neurology Devices Market 2019-2025|
|Published: May 15, 2020||Content info:||
Global Neurology Devices Market Size, Share & Trends Analysis Report, By Product (Cerebrospinal Fluid Management Devices, Neurostimulation Devices, Interventional Neurology Devices, Neurosurgery Devices, and Others), By End-User (Hospitals, Neurology Clinics, and Ambulatory Surgical Centers) and Forecast, 2019-2025
The global neurology devices market is estimated to witness significant growth during the forecast period. Increasing demand for neurostimulation devices is one of the factors that are driving the market growth. Rising prevalence of neurological disorders, including Parkinson's and Alzheimer's disease has led the adoption of neurostimulation devices. In addition, rising spinal cord injuries are further encouraging the adoption of spinal cord stimulation (SCS) devices. As per the data published by the National Spinal Cord Injury Statistical Center, as of 2019, in the US, the annual incidence of spinal cord injury is approximately 54 cases per one million people, or nearly 17,730 new spinal cord injury cases each year. SCS is normally used for the treatment of chronic pain in the limbs and trunk; however, it can also support enhance control and improve stiff or rigid muscles after a spinal cord injury. Therefore, the demand for spinal cord stimulation may be significantly used to treat spinal cord injuries.
Geographically, the market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW). In 2018, North America is anticipated to hold significant share in the market owing to the increasing number of neurosurgeries coupled with the significant prevalence of neurological disorders in the region. Asia-Pacific is estimated to witness considerable growth during the forecast period owing to the rising ageing population and associated neurological disorders in the region. In addition, increasing awareness regarding neurological disorders will further accelerate the number of neurosurgeries, which thereby will drive the adoption of neurology devices in the region.
Some crucial players operating in the market include Medtronic plc, Abbott Laboratories, Boston Scientific Corp., B. Braun Melsungen AG, and Stryker Corp. Mergers and acquisitions and product launches are some crucial strategies adopted by the market players to expand market share and gain a competitive advantage. For instance, in January 2020, Medtronic plc declared the acquisition of Stimgenics, LLC, a provider of novel spinal cord stimulation (SCS) waveform which is known as Differential Target Multiplexed (DTM) SCS. The therapy, which is delivered through the Medtronic Intellis platform, is a new and unique programming option for the treatment of patients suffering from chronic pain. DTM SCS therapy is a new proprietary SCS waveform that will be available on Medtronic Intellis platform.
The market study of the global neurology devicesmarket is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include:
The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
The Report Covers: