U.S (New York) – Report Ocean has recently published a comprehensive research report titled “Neurology devices Market” Research Report 2023-2031. This report delves deep into the market and offers valuable insights into (Key Market Trends, Emerging Technologies, Market Drivers and Challenges of the Industry, Regulatory Policies), company profiles of key players, and their strategies. With over 100+ market data tables, pie charts, graphs, and figures, this global market study is now available. The report provides a thorough evaluation of the market, (Encompassing Future Trends, Current Growth Factors, Expert Opinions, Factual Information), and industry-validated market data, with a forecast extending until 2031.
The global neurological devices market was valued at $9,242.67 million in 2018, and is expected to reach $ 17,410.40 million by 2026, registering a CAGR of 8.1% from 2019 to 2026. The Market report’s main goal is to impart industry knowledge and assist our clients in achieving organic growth in their specialized industries. For businesses and people interested in a certain industry or field, this research should be seen as a valuable source of information and guidance as it provides critical statistics on the global market status of the Market manufacturers. The primary accomplishment of this research is to provide strategic insight to businesses in this sector. Neurovascular devices such as cerebrospinal fluid management devices and interventional devices majorly find their application in the treatment of neurological disorders, including Alzheimer’s, tumors, depression, and stroke. Moreover, there are various other devices or instruments used for the treatment of neurological diseases such as catheters, stents, ultrasonic aspirators, and stereotactic system.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The growth of the global neurology devices market is driven by significant rise in geriatric population across the globe, rise in demand for minimally invasive surgeries, and development of advanced neurological devices. In addition, increase in prevalence of neurological disorders across the globe propels the demand for neurology devices, thereby supplementing the growth of the global market. In addition, rise in geriatric population poses risk for increase in incidence of neurovascular disorders (such as stroke).
However, enforcement of stringent government regulations toward the approval of these devices and lack of skilled neurosurgeons are the key factors anticipated to hamper the market growth. Conversely, the introduction of new products and technological advancements in neurological devices have aided in the efficient treatment of many neurovascular disorders, which is expected to provide lucrative opportunities for market expansion during the forecast period.
The global neurological devices market is segmented into product, end user, and region. By product, the market is categorized into neurostimulation devices, neurosurgery devices, interventional neurology devices, cerebrospinal fluid management devices, and others. Depending on end user, it is classified into hospitals, neurology clinics, and ambulatory care centers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
? The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
? It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
? Comprehensive analysis of four regions is provided to determine the prevailing opportunities.
? Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.
LIST OF KEY PLAYERS PROFILED IN THE REPORT
– Abbott Laboratories
– B. Braun Melsungen AG
– Boston Scientific Corporation
– Integra LifeSciences Holdings Corporation
– LivaNova PLC
– Johnson & Johnson
– Medtronic Plc
– Magstim Co Ltd.
– Penumbra, Inc.
– Stryker Corporation
KEY MARKET SEGMENTS
By Product
– Neurostimulation Devices
– Neurosurgery Devices
– Interventional Neurology Devices
– Cerebrospinal Fluid Devices
– Others
By End User
– Hospitals
– Neurology Clinics
– Ambulatory Care Centers
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By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
– Asia Pacific
o Japan
o China
o India
o Rest of Asia-Pacific
– LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
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