Allied Market Research Forecasts Global Neurology Devices Market to Surpass $17.41 Billion by 2026

Allied Market Research has recently released a comprehensive report titled “Neurology Devices Market: Global Opportunity Analysis and Industry Forecast, 2019–2026.” This insightful report meticulously analyzes the neurology devices market, categorizing products into Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Cerebrospinal Fluid Management Devices, and others. The study also delves into end-user segments, encompassing Hospitals, Ambulatory Surgery Centers, and Neurology Clinics.

According to the findings, the global neurology devices industry achieved a valuation of $9.24 billion in 2018. The forecast indicates a remarkable growth trajectory, with expectations set at reaching $17.41 billion by 2026. This robust expansion is projected to manifest through a Compound Annual Growth Rate (CAGR) of 8.1% from 2019 to 2026.

This report provides invaluable insights for industry stakeholders, investors, and decision-makers, offering a strategic perspective on market trends, opportunities, and challenges. The meticulous analysis and reliable forecasts make this report an indispensable resource for those seeking a nuanced understanding of the global neurology devices landscape.

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Neurosurgery devices segment to manifest fastest growth

By product, the neurosurgery devices segment is expected to portray the fastest CAGR of 10.2% during the forecast period, owing to the increase in number of neurological surgeries across the globe. However, the cerebrospinal fluid devices segment held the largest share in 2018, accounting for nearly one-third of the global neurology devices market, owing to surge in usage of these devices for diagnosis of various neurological devices and increased use of these devices for diagnosis and treatment of multiple sclerosis, encephalitis, and myelitis.

Hospitals segment held the lion’s share

By end user, the hospitals segment dominated the global neurology devices market in 2018, accounting for more than two-fifths of the market, owing to the easy availability of neurological devices in hospital settings and preference among patients to visit hospitals for diagnosis and treatment of neurological devices. However, the neurology clinics segment is expected to register the fastest CAGR of 9.0% during the forecast period, due to the surge in preference toward neurological clinics for performing diagnosis of neurological devices.

North America dominated the market

The global neurology devices market across North America held the largest share in 2018, contributing to more than two-fifths of the market, due to the easy availability of advanced neurological devices and well-developed healthcare infrastructure and the presence of leading players. However, the market across the Asia-Pacific region is expected to register the fastest CAGR of 10.0% during the forecast period, due to an increase in the incidence of neurological diseases and the presence of a large patient pool in this region.

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Major market players

• Abbott Laboratories.
• Boston Scientific Corporation.
• B. Braun Melsungen AG
• LivaNova PLC
• Integra LifeSciences Holdings Corporation
• Medtronic Plc.
• Johnson & Johnson
• Penumbra, Inc.
• Magstim Co Ltd.
• Stryker Corporation