Neurology Devices Market by Type of Device (Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Other Type of Devices), End User, and Geography - Global Industry Analysis, Opportunities and Forecast up to 2030

Neurology Devices Market by Type of Device (Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Other Type of Devices), End User, and Geography - Global Industry Analysis, Opportunities and Forecast up to 2030

Neurology Devices Market Size

The global neurology devices market size was valued at $17.26 billion in 2024 and is projected to reach $29.75 billion by 2030, growing at a CAGR of 9.5% during the forecast period.

Neurology Devices Market Overview

Neurology devices are specialized medical instruments designed for the diagnosis, treatment, and monitoring of neurological disorders affecting the brain, spinal cord, and peripheral nerves. This market encompasses a variety of products, including neurostimulation devices, neurosurgery instruments, cerebrospinal fluid management devices, and interventional neurology tools.

Companies that invest in new technologies, such as advanced neurostimulation and imaging devices, can capture market share and improve patient outcomes. Collaborations with healthcare providers and research institutions can facilitate the development of innovative products and expand market reach.

Neurology Devices Market Dynamics

The neurology devices market is expected to witness significant growth in the future due to increasing prevalence of neurological disorders, growing demand for minimally invasive surgical procedures, advancements in technology and innovation in medical devices, and the rising geriatric population. However, high cost of neurology devices, stringent regulatory requirements for device approval, and the lack of skilled healthcare professionals for device operation are restraining the growth of the market.

Furthermore, increased healthcare expenditure and improved healthcare infrastructure, increasing awareness and education about neurological disorders, and the rising demand for personalized medicine and targeted therapies are the key trends propelling the neurology devices market.

Increasing Prevalence of Neurological Disorders is driving the Neurology Devices Market

The increasing prevalence of neurological disorders is significantly impacting the neurology devices market, likely due to a combination of factors including lifestyle changes, environmental influences, improved diagnostic techniques, and an aging population. Neurodegenerative diseases like Alzheimer's and Parkinson's are particularly common among the elderly, and as the population ages, the number of individuals affected by these conditions is expected to grow. Additionally, hereditary and other biological factors may increase susceptibility to neurological disorders in certain individuals. Advances in healthcare and technology have also facilitated easier diagnosis, contributing to the observed increase in prevalence. The expanding geriatric population is anticipated to drive growth in the Neurology Devices Industry, as the risk of developing neurological disorders such as Alzheimer's, Parkinson's, and stroke escalates with age.

• For instance, a 2022 study by the Parkinson’s Foundation reported that nearly 90,000 people are diagnosed with Parkinson’s disease in the U.S. each year.

Neurostimulation devices, which are used to treat chronic pain conditions such as neuropathic pain, complex regional pain syndrome, and back pain, also play a crucial role in managing neurological disorders like Parkinson's disease, epilepsy, and dystonia by modulating brain activity to alleviate symptoms.

• Moreover, according to a 2023 WHO report on epilepsy, around 50 million people worldwide suffer from epilepsy, making it one of the most prevalent neurological diseases globally, and a significant driver of the neurological device market.

By Type of Device, the Neurostimulation Devices Segment is anticipated to Hold Major Share in the Neurology Devices Market

The neurostimulation devices segment is expected to dominate the market share during the forecast period owing to the increasing prevalence of neurological disorders and the growing recognition of the effectiveness of these devices in managing chronic conditions. This growth is driven by advancements in technology, particularly in implantable devices like spinal cord stimulators and deep brain stimulators, which provide targeted therapy with minimal side effects.

• For example, in February 2022, Medtronic received FDA approval for its InterStim X, a next-generation rechargeable device for bladder control, enhancing its product offerings in the neurostimulation segment.
• Similarly, in April 2023, Neuspera Medical launched its ultra-miniaturized neurostimulation system, which operates wirelessly, improving patient experience and accessibility.

The U.S. market is particularly significant, accounting for nearly 60% of the global neurostimulation devices market share in 2022, driven by a high incidence of conditions such as epilepsy and chronic pain, alongside a strong focus on minimally invasive procedures. Government initiatives supporting research and development in neuromodulation technologies further bolster this segment, ensuring that innovative solutions are rapidly translated into clinical practice. As companies like Abbott Laboratories and Boston Scientific continue to invest in R&D and expand their product portfolios, the neurostimulation devices segment is expected to play a crucial role in addressing the unmet medical needs of patients with neurological disorders.

By Geography, North America is expected to have the Significant Market Share during the forecast period

North America is anticipated to hold a prominent market share during the forecast period due to the increasing prevalence of neurological disorders, technological advancements, and robust healthcare infrastructure there by reflecting the rising demand for devices that diagnose and treat conditions such as Alzheimer's disease, Parkinson's disease, and epilepsy.

• For instance, in January 2021, the FDA granted clearance to ClearMind Biomedical's Axonpen System, a neuroendoscope designed for intracranial tissue visualization and fluid aspiration, showcasing innovation in surgical tools.

Major players like Medtronic and Boston Scientific are also contributing to market growth with advanced neurostimulation devices and interventional products that cater to chronic pain management and other neurological conditions. Additionally, the aging population in the U.S. and Canada, with 18.5% of Canadians aged over 65 as of July 2021, further fuels the demand for neurology devices. Government initiatives, such as the FDA's focus on regulatory science to streamline the approval process for innovative devices, enhance the market's attractiveness, ensuring that advanced treatments reach patients more efficiently.

• For example, the National Institute of Neurological Disorders and Stroke (NINDS), part of the United States' National Institutes of Health, is dedicated to advancing research on neurological disorders and developing new treatments.

This combination of factors positions North America as a leader in the neurology devices market, paving the way for improved patient outcomes and expanded access to cutting-edge therapies.

Key Target Audience:

• Medical Device Manufacturers
• Healthcare Providers
• Research and Academic Institutions
• Regulatory Agencies
• Patients and Patient Advocacy Groups
• Investors and Venture Capitalists
• Contract Research Organizations (Cros)
• Diagnostic Companies
• Health Insurance Companies
• Rehabilitation Centers

List of the Key Players Profiled in the Report Includes:

• Abbott Laboratories
• B.Braun SE
• Boston Scientific Corporation
• Covidien PLC
• Integra Lifesciences
• Johnson & Johnson
• LivaNova PLC
• Magstim Co Ltd
• Medtronic PLC
• Natus Medical Inc
• Stryker Corporation
• Zimmer Biomet Holding Inc

Recent Developments:

• In August 2024, AbbVie announced the completion of its acquisition of Cerevel Therapeutics, enhancing its neuroscience portfolio with new programs targeting neurological and psychiatric conditions, including schizophrenia and Parkinson's disease. This acquisition is expected to strengthen AbbVie's capabilities in delivering innovative therapies for patients with significant unmet needs in these areas.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Type of Device:

• Neurostimulation Devices
• Neurosurgery Devices
• Interventional Neurology Devices
• Cerebrospinal Fluid Management Devices
• Other Type of Devices

Market by, End User:

• Hospitals
• Ambulatory Surgery Centers
• Other End Users

Market by, Geography:

The neurology devices market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:

The report “Global Neurology Devices Market: Industry Analysis, Opportunities and Forecast up to 2030” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:

• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

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