Neurological disorders contribute to considerable number of deaths globally. Due to critical nature of neurological disorders, diagnosis and treatment of disorders become important and involves various devices and procedures. Global neurological devices market can be classified into interventional neurology, neurosurgery, neurostimulation and cerebrospinal fluid (CSF) management devices. Of these, neurostimulation dominates the market with more than half of market share. Neurostimulation devices are designed to provide electrical stimulation for treatment of nervous and locomotor related disorders. Neurosurgery devices is second largest segment involving cell repair and tumour removal surgeries, and it includes devices like neuro-endoscope, ultrasonic aspirators and aneurysm clips. Furthermore, interventional neurology devices segment, which include cerebral balloon angioplasty, is expected to show high growth due to escalating incidences of stroke and aneurysm.
With increasing incidences of epilepsy, Alzheimer’s, Parkinson’s and other chronic neurological disorders, demand for technologically advanced neurological devices is rising. Patients increasingly prefer minimally invasive surgeries for treatment of severe and complex vascular disorders of spine & brain due to improvements of image-guided techniques like neuroendoscopes.
Other factors contributing to growth of the market include advanced healthcare infrastructure and increasing government initiatives. In addition, many private companies are investing in newer markets to improve market presence with focus on development of imaging technologies like neurotherapies and neuroinformatics.
Though the market outlook is quite promising and optimistic, factors like high investments, stringent FDA validation & guidelines for new devices and inefficient reimbursement policies are expected to hamper growth of the overall neurology devices market in the near future.
Operating as the biggest market segment, neurostimulators are expected to retain its position and expected to be the major contributor to the market. MRI safety-enabled neurostimulators, magnetic stimulation technology and transdermal neuromodulation are few technologies introduced to the market with high growth potential. There is a growing need for developing neurostimulation techniques which are based on accurate and efficient algorithms.
ASDReport.com has an extensive array of reports on neurological devices. The reports provide insights on various topics related neurology devices market like, electrophysiology, neuromonitoring, neurology imaging, robotic neurology, deep brain stimulation, brain function monitoring and much more.