North America Neurology Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The North America Neurology Devices Market is segmented by Device (Cerebrospinal Fluid Management Device, Interventional Neurology Device, Neurosurgery Device, Neurostimulation Device, and Other Devices) and Geography.

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 13.5 %

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Market Overview

Based on the American Neurological Association (ANA) data, neurological diseases impact an estimated 100 million Americans every year, with the costs of expenditure for dementia and stroke alone projected to be more than USD 600 billion by 2030.

The growing burden of cerebral stroke and other disorders, such as Alzheimer’s and Parkinson’s, leads to the increasing number of patients in the hospitals, which ultimately increases the usage of neurology devices. Therefore, the industry is expected to witness a considerable increase in the demand for neurology devices during the forecast period.

The other factors include huge investments by private players on neurology devices, an increase in R&D in the field of neuro therapies, and an increase in the aging population.

Scope of the Report

Neurology devices can help diagnose, prevent, and treat a variety of neurological disorders and conditions, such as Alzheimer’s disease, Parkinson’s disease, major depression, epilepsy, spinal cord injury, and traumatic brain injury. These devices can be used to help restore hearing and sight, and provide an increased functionality for those with limb loss or congenital limb differences.

By Device
Cerebrospinal Fluid Management Devices
Interventional Neurology Devices
Interventional/Surgical Simulators
Neurothrombectomy Devices
Carotid Artery Stents
Embolic Coils
Support Devices
Neurosurgery Devices
Neuroendoscopes
Stereotactic Systems
Aneurysm Clips
Other Neurosurgery Devices
Neurostimulation Devices
Spinal Cord Stimulation Devices
Deep Brain Stimulation Devices
Sacral Nerve Stimulation Devices
Other Neurostimulation Devices
Other Devices
Geography
North America
United States
Canada
Mexico

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Key Market Trends

Cerebrospinal Fluid Management Devices are Expected to Witness Rapid Growth in the Future

Cerebral spinal fluid (CSF) shunt systems are used to treat hydrocephalus, which is a common medical procedure and a life-saving treatment for many patients. These shunt systems drain excess fluid from the brain to another part of the body, where the fluid is absorbed as part of the circulatory process.

SF shunts are commonly used to treat hydrocephalus. If left unchecked, CSF imbalance can lead to elevated intracranial pressure (ICP), which can lead to a variety of complications. CSF shunts can be used to alleviate these problems in patients, who suffer from hydrocephalus. According to, National Hydrocephalus Foundation, the United States, 2018 report, one out of every 500 births results in hydrocephalus, and about 6,000 children annually develop hydrocephalus during the first 2 years of life. As the number of patients increases, there is increasing use of the shunt systems and so the growth of the segment.

Neurology Devices Market.png

Competitive Landscape

The North American neurology devices market is majorly dominated by the global players. However, in the future, some small to mid-sized companies are also expected to penetrate the market. Some of the major players in the market are Boston Scientific Corporation, Medtronic PLC, Nihon Kohden Corporation, Stryker, and B. Braun Melsungen AG.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Aging Population and Increase in Incidence of Neurological Disorders

      2. 4.2.2 Huge Investments by Private Players in Neurology Devices

      3. 4.2.3 Increase in R&D in the Field of Neurotherapies

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Equipment

      2. 4.3.2 Stringent FDA Validation and Guidelines for New Devices

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Device

      1. 5.1.1 Cerebrospinal Fluid Management Devices

      2. 5.1.2 Interventional Neurology Devices

        1. 5.1.2.1 Interventional/Surgical Simulators

        2. 5.1.2.2 Neurothrombectomy Devices

        3. 5.1.2.3 Carotid Artery Stents

        4. 5.1.2.4 Embolic Coils

        5. 5.1.2.5 Support Devices

      3. 5.1.3 Neurosurgery Devices

        1. 5.1.3.1 Neuroendoscopes

        2. 5.1.3.2 Stereotactic Systems

        3. 5.1.3.3 Aneurysm Clips

        4. 5.1.3.4 Other Neurosurgery Devices

      4. 5.1.4 Neurostimulation Devices

        1. 5.1.4.1 Spinal Cord Stimulation Devices

        2. 5.1.4.2 Deep Brain Stimulation Devices

        3. 5.1.4.3 Sacral Nerve Stimulation Devices

        4. 5.1.4.4 Other Neurostimulation Devices

      5. 5.1.5 Other Devices

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 B. Braun Melsungen AG

      3. 6.1.3 Boston Scientific Corporation

      4. 6.1.4 Johnson and Johnson

      5. 6.1.5 MicroPort Scientific Corporation

      6. 6.1.6 Medtronic PLC

      7. 6.1.7 Nihon Kohden Corporation

      8. 6.1.8 Penumbra Inc.

      9. 6.1.9 Smith & Nephew

      10. 6.1.10 Stryker Corporation

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The North America Neurology Devices Market market is studied from 2018 - 2026.

The North America Neurology Devices Market is growing at a CAGR of 13.5% over the next 5 years.

Boston Scientific Corporation, Medtronic PLC, Nihon Kohden Corporation, Stryker, B. Braun Melsungen AG are the major companies operating in North America Neurology Devices Market.

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