The US Neurology Devices Market size was valued at USD 5.90 Billion in 2023 and the total US Neurology Devices revenue is expected to grow at a CAGR of 6.15% from 2024 to 2030, reaching nearly USD 8.96 Billion. Neurology devices play a significant role in diagnosing, preventing, and treating various disorders such as Alzheimer's, Parkinson's, and epilepsy. They help in restoring hearing, sight, and function for those with limb loss. The comprehensive report serves as a detailed analysis of the US Neurology Devices Market. MMR has precisely examined the industry's evolution, spotlighting significant trends, groundbreaking innovations, and the driving forces that mold its trajectory. Delving deep into the present landscape, the report dissects the US Neurology Devices Market. It accurately outlines the market's current dimensions, growth patterns, size, and the nuanced trends that use significant influence. Additionally, it keenly identifies the pivotal factors driving market growth and sheds light on growing opportunities. In 2023, Neurological disorders impact over 1 in 6 US adults, totaling approximately 58 million people. While specific prevalence numbers vary, For instance, Alzheimer's affects 6.2 million, and Parkinson's impacts around 1 million Americans. The incidence rates for the entire US Neurology Devices Market are scarce. While specific categories or disorders have tracking measures. For instance, annually, about 797,000 experience a new or recurrent stroke, and TBI incidence is around 1.7 million cases.To know about the Research Methodology :- Request Free Sample Report Increasing Prevalence of Neurological Disorders to drive the US Neurology Devices Market Growing patient population, is making companies to invest in R&D thereby driving the market for neurology devices market in USA. The investment is ultimately helping pateints with neurological disorders and improve treatment efficacy and quality of life. The report has covered the investment by companies, government, institutions.
Additionally, limited access to the advanced US neurology devices industry widens healthcare disparities and particularly affects vulnerable populations due to unequal distribution across demographics. The rapid technological development raises ethical concerns, necessitating robust frameworks to prevent exploitation and data misuse. Also, the financial burden posed by the high costs of neurology devices needs governments and insurers to improve affordability and accessibility. A nuanced approach is necessary to navigate the rising prevalence of neurological disorders in the US neurology devices market. Addressing ethical and economic challenges, prioritizing patient well-being, and promoting responsible development ensure equitable access and benefit all stakeholders.
US Neurology Devices Market Segment Analysis
Based on Product Type, the Neurostimulation segment held the largest market share of about 35% in the US Neurology Devices Market in 2023. According to the MMR analysis, the segment is expected to grow at a CAGR of 2.5% during the forecast period. It stands out as the dominant segment within the US Neurology Devices Market thanks to its rapid technological advancement and growing adoption of smart devices with data connectivity and integration.Neurological disorders such as Parkinson's, epilepsy, and chronic pain affect a growing number of individuals in the US. Neurostimulation, a non-pharmacological alternative, is gaining traction and addressing diverse issues from depression to bladder control. Technological advancements, such as minimally invasive procedures and longer-lasting device batteries, are bolstering its efficacy and fostering a shift towards personalized medicine for enhanced outcomes. Neurostimulation dominates the US neurology devices market, maintaining its lead through extensive applications and promising growth. With a valuation in the billions, the market is set for robust growth and driven by continuous innovation from major players and startups. Despite clinical benefits, persistent reimbursement challenges underscore the need for efforts to improve affordability and patient access. Neurostimulation revolutionizes the US neurology devices market, providing effective, personalized treatment for diverse neurological conditions. Its growth relies on addressing affordability, advancing technology, and building clinical evidence for emerging applications
US Neurology Devices Market Scope: Inquiry Before Buying
US Neurology Devices Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 5 Bn. Forecast Period 2024 to 2030 CAGR: 4.5% Market Size in 2030: US $ 10 Bn. Segments Covered: by Product Type Neurostimulation Spinal Cord Stimulation Devices Deep Brain Stimulation Devices Sacral Nerve Stimulation Vagus Nerve Stimulation Gastric Electric Stimulation Interventional Neurology Aneurysm Coiling & Embolization Embolic Coils Flow Diversion Devices Liquid Embolic Agents Cerebral Balloon Angioplasty & Stenting Carotid Artery Stents Filter Devices Balloon Occlusion Devices Neurothrombectomy Clot Retriever Suction Aspiration Devices Snares CSF Management CSF Shunts CSF Drainage Neurosurgery Devices Ultrasonic Aspirators Stereotactic Systems Neuroendoscopes Aneurysm Clips by End User Hospitals and Clinics Specialty Centres Leading Key Players in the US Neurology Devices Market
1. Medtronic 2. Johnson & Johnson 3. Boston Scientific 4. St. Jude Medical 5. Abbott Laboratories 6. GE Healthcare 7. Philips Healthcare 8. Siemens Healthineers 9. B. Braun Melsungen AG 10. Zimmer BiometFAQs:
1. What are the growth drivers for the US Neurology Devices market? Ans. Increasing Prevalence of Neurological Disorders is expected to be the major driver for the US Neurology Devices market. 2. What is the major restraint for the US Neurology Devices market growth? Ans. High device costs and Limited Affordability and Access are expected to be the major restraining factors for the US Neurology Devices market growth. 3. What is the projected market size and growth rate of the US Neurology Devices Market? Ans. The US Neurology Devices Market size was valued at USD 5.90 Billion in 2023 and the total US Neurology Devices revenue is expected to grow at a CAGR of 6.15% from 2024 to 2030, reaching nearly USD 8.96 Billion By 2030.
1. US Neurology Devices Market Introduction 1.1 Study Assumption and Market Definition 1.2 Scope of the Study 1.3 Executive Summary 2. US Neurology Devices Market Overview 2.1 Emerging Technologies 2.2 Market Projections 2.3 Strategic Recommendations 3. US Neurology Devices Market Import Trends 3.1 Major Source of the Countries 3.2 Import Regulations and Compliance 4. US Neurology Devices Market Export Trends 4.1 Major Export Destinations 4.2 Export Regulations and Compliance 5. US Neurology Devices Market: Dynamics 5.1.1 Market Drivers 5.1.2 Market Restraints 5.1.3 Market Opportunities 5.1.4 Market Challenges 5.2 PORTER’s Five Forces Analysis 5.3 PESTLE Analysis 5.4 Value Chain Analysis 5.5 Regulatory Landscape 5.6 Analysis of Government Schemes and Initiatives for the US Neurology Devices Industry 5.7 The Pandemic and Redefining of The US Neurology Devices Industry Landscape 6. US Neurology Devices Market: Market Size and Forecast by Segmentation (Value) (2023-2030) 6.1 US Neurology Devices Market Size and Forecast, by Product Type (2023-2030) 6.1.1 Neurostimulation 6.1.2 Spinal Cord Stimulation Devices 6.1.3 Deep Brain Stimulation Devices 6.1.4 Sacral Nerve Stimulation 6.1.5 Vagus Nerve Stimulation 6.1.6 Gastric Electric Stimulation 6.1.7 Interventional Neurology 6.1.7.1 Aneurysm Coiling & Embolization 6.1.7.2 Embolic Coils 6.1.7.3 Flow Diversion Devices 6.1.7.4 Liquid Embolic Agents 6.1.7.5 Cerebral Balloon Angioplasty & Stenting 6.1.7.6 Carotid Artery Stents 6.1.7.7 Filter Devices 6.1.7.8 Balloon Occlusion Devices 6.1.7.9 Neurothrombectomy 6.1.7.10 Clot Retriever 6.1.7.11 Suction Aspiration Devices 6.1.7.12 Snares 6.1.8 CSF Management 6.1.8.1 CSF Shunts 6.1.8.2 CSF Drainage 6.1.9 Neurosurgery Devices 6.1.9.1 Ultrasonic Aspirators 6.1.9.2 Stereotactic Systems 6.1.9.3 Neuroendoscopes 6.1.9.4 Aneurysm Clips 6.2 US Neurology Devices Market Size and Forecast, by End User (2023-2030) 6.2.1 Hospitals and Clinics 6.2.2 Specialty Centres 7. US Neurology Devices Market: Competitive Landscape 7.1 MMR Competition Matrix 7.2 Competitive Landscape 7.3 Key Players Benchmarking 7.3.1 Company Name 7.3.2 Service Segment 7.3.3 End-user Segment 7.3.4 Revenue (2023) 7.3.5 Company Locations 7.4 Leading US Neurology Devices Companies, by market capitalization 7.5 Market Structure 7.5.1 Market Leaders 7.5.2 Market Followers 7.5.3 Emerging Players 7.6 Mergers and Acquisitions Details 8. Company Profile: Key Players 8.1 Medtronic 8.1.1 Company Overview 8.1.2 Business Portfolio 8.1.3 Financial Overview 8.1.4 SWOT Analysis 8.1.5 Strategic Analysis 8.1.6 Scale of Operation (small, medium, and large) 8.1.7 Details on Partnership 8.1.8 Regulatory Accreditations and Certifications Received by Them 8.1.9 Awards Received by the Firm 8.1.10 Recent Developments 8.2 Johnson & Johnson 8.3 Boston Scientific 8.4 St. Jude Medical 8.5 Abbott Laboratories 8.6 GE Healthcare 8.7 Philips Healthcare 8.8 Siemens Healthineers 8.9 B. Braun Melsungen AG 8.10 Zimmer Biomet 9. Key Findings 10. Industry Recommendations 11. Terms and Glossary 12. US Neurology Devices Market: Research Methodology