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The Neurology Devices Market is segmented by Type of Device and Geography.
Fastest Growing Market:
The key factors propelling the growth of the market are the increasing incidence of neurological disorders, huge investments by private players in neurology devices, increase in R&D in the field of neurotherapies, and rising aging population.
The growth of the global neurology devices market is attributed to the increasing incidence of neurological disorders that include brain aneurysms, brain tumors, epilepsy, memory disorders, multiple sclerosis, Parkinson’s disease, peripheral neuropathy, post-herpetic neuralgia, spinal cord tumor, and stroke.
The increasing healthcare spending, increasing foreign direct investment by global medical device manufactures, and increasing neurological disease prevalence are expected to drive the overall market growth.
As per the scope of the report, neurological devices are medical devices that help to diagnose, prevent, and treat a variety of neurological disorders and conditions, such as Alzheimer's disease, Parkinson’s disease, major depression, and traumatic brain injury. The growth of neurological devices is being driven through an emphasis on developing superior neuromodulation and neurostimulation techniques, leveraging minimally invasive procedures that benefit patients. This has resulted in companies investing more in R&D, in an effort to better treat and rehabilitate the brain.
|By Type of Device|
|Cerebrospinal Fluid Management Devices|
|Other Types of Devices|
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The sacral nerve stimulation devices are mostly used for patients for whom drug therapy or other types of medications are not successful. It is performed with the help of a small device, which is capable of sending electrical impulses to the targeted sacral nerves located in the lower back region. These devices are found to be successful in treating bladder problems. Hence, with increasing incidences of overactive bladder, the sacral nerve stimulation devices segment is expected to grow during the forecast period.
The deep brain stimulation devices are also being used to perform deep brain stimulation procedures, by implanting a medical device that is capable of sending electrical impulses to specific target areas in the brain. These devices are generally used to treat neuropsychiatric disorders and are effectively used in treating various other neurological disorders, like Parkinson's disease, essential tremor, dystonia, chronic pain, major depression, and obsessive-compulsive disorder.
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The Asia-Pacific region is expected to grow, due to the presence of high unmet medical needs, coupled with rapidly rising healthcare R&D investments and growing medical expenditures in emerging economies, such as India and China. There are also a number of government initiatives that are expected to increase over the forecast period.
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There are market participants involved in R&D for the development of advanced stimulation and neuromodulation techniques with minimally invasive procedures that are more preferable to the patients. Furthermore, many private companies are showing great interest in developing novel neurological devices to earn huge profits.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Incidence of Neurological Disorders
4.2.2 Huge Investments by Private Players in Neurology Devices
4.2.3 Increase in R&D in the Field of Neurotherapies
4.2.4 Rise in the Aging Population
4.3 Market Restraints
4.3.1 High Cost of Equipment
4.3.2 Stringent FDA Validation and Guidelines for New Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type of Device
5.1.1 Cerebrospinal Fluid Management Devices
5.1.2 Interventional Neurology Devices
184.108.40.206 Interventional/Surgical Simulators
220.127.116.11 Neurothrombectomy Devices
18.104.22.168 Carotid Artery Stents
22.214.171.124 Embolic Coils
126.96.36.199 Support Devices
5.1.3 Neurosurgery Devices
188.8.131.52 Stereotactic Systems
184.108.40.206 Aneurysm Clips
220.127.116.11 Other Neurosurgery Devices
5.1.4 Neurostimulation Devices
18.104.22.168 Spinal Cord Stimulation Devices
22.214.171.124 Deep Brain Stimulation Devices
126.96.36.199 Sacral Nerve Stimulation Devices
188.8.131.52 Other Neurostimulation Devices
5.1.5 Other Types of Devices
5.2.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South korea
126.96.36.199 Rest of Asia-Pacific
5.2.4 Middle East & Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East & Africa
5.2.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Boston Scientific Corporation
6.1.3 Stryker Corporation
6.1.4 Medtronic PLC
6.1.5 Abbott Laboratories
6.1.6 Johnson and Johnson
6.1.7 Smith & Nephew
6.1.8 MicroPort Scientific Corporation
6.1.9 Nihon Kohden Corporation
6.1.10 Penumbra Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments