Portland, OR, July 14, 2020 (GLOBE NEWSWIRE) -- The neurology devices market size was pegged at $9.24 billion in 2018, and is expected to reach $17.41 billion by 2026, registering a CAGR of 8.1% from 2019 to 2026. Significant rise in incidence of neurological disorders is anticipated to drive the growth of the global neurological devices market. In addition, surge in geriatric population across the globe significantly contributes toward the growth of the global market.
Incentives for market growth
The surge in neurological disorders and increasing demand for noninvasive diagnostic techniques for neurological disorders have boosted the growth of the global neurology devices market. However, the implementation of stringent government regulation toward the approval of neurology devices. On the contrary, untapped potential in the emerging economies is expected to create lucrative opportunities in the near future.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6321
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.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6321
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
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Similar Reports:
VR In Healthcare Market - Global Opportunity Analysis & Industry Forecast, 2019–2026
Operating Room Management Market - Global Opportunity Analysis & Industry Forecast, 2019–2026
AI in Drug Screening Market - Global Opportunity Analysis and Industry Forecast, 2019-2026
U.S. Intraoperative Neuromonitoring Market - Opportunity Analysis & Industry Forecast, 2019–2026
Cold Remedies Market - Global Opportunity Analysis & Industry Forecast, 2019–2026
Significant rise in incidence of neurological disorders is anticipated to drive the growth of the global neurological devices market. In addition, surge in geriatric population across the globe significantly contributes toward the growth of the global market.
AI in Drug Screening Market Global Opportunity Analysis and Industry Forecast, 2019-2026