Neurology Devices Market Size To Reach $28.21 Billion By 2030

Neurology Devices Market Growth & Trends

The global neurology devices market size is projected to reach USD 28.21 billion by 2030, expanding at a CAGR of 8.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. This expected growth in demand can be ascribed to growing need for development of different neurostimulation techniques with efficient and accurate algorithms for treatment of several CNS associated disorders.

Rise in incidence of cerebral stroke and other severe disorders such as Alzheimer’s disease, epilepsy, and Parkinsonism is expected to fuel demand of neurology devices thereby driving industry growth. According to National Institute of Neurological Disorders and Stroke (NINDS), approximately 50 million Americans are affected due to these disorders leading to high economic & disease costs burden for medical expenses coupled with loss of productivity. The industry is expected to witness a considerable increase in demand for CNS related therapeutic procedures over the forecast period.

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Neurology Devices Market Report Highlights

• Neurostimulation devices dominated the market with a share of 53.5% in 2023. The rising occurrence of chronic neurological conditions such as epilepsy, Parkinson's disease, and chronic pain has led to a notable need for successful and lasting treatment choices.

• Interventional neurology is expected to grow at the fastest CAGR of 10.4% during the forecast period. The expanding elderly population, who are prone to cerebrovascular illnesses, along with rising healthcare costs, continues to drive market expansion.

• North America's neurological devices market dominated the market with a share of 39.7% in 2023. An increasing number of elderly individuals at risk of developing Alzheimer's and Parkinson's diseases is a key factor.

• Asia Pacific's neurology devices market is anticipated to witness significant growth in the coming years.

Neurology Devices Market Segmentation

Grand View Research has segmented the global neurology devices market report based on product and region. 

Neurology Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Neurostimulation

  • Spinal Cord Stimulation

  • Spinal Cord Stimulation

  • Deep Brain Stimulation

  • Sacral Nerve Stimulation

  • Vagus Nerve Stimulation

  • Gastric Electric Stimulation

• Interventional Neurology

  • Aneurysm Coiling and Embolization

    • Embolic Coils

    • Flow Diversion Devices

    • Liquid Embolic Reagents

  • Neurovascular Catheters

    • Microcatheters

    • Microguidewires

  • Cerebral Balloon Angioplasty & Stents

    • Carotid Artery Stents

    • Filter Devices

    • Balloon Occlusion Devices

  • Neurothromobectomy

    • Clot Retrievers

    • Suction Aspiration Devices

    • Snare Devices

• CSF Management Devices

  • Cerebral Shunts

  • Cerebral External Drainage

• Neurosurgery Devices

  • Ultrasonic Aspirators

  • Stereotactic Systems

  • Neuroendoscopes

  • Aneurysm Clips

Neurology Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • China

  • India

  • Japan

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Kuwait

  • UAE

  • South Africa

  • South Arabia

List Of Key Players in the Neurology Devices Market

• Medtronic

• Johnson and Johnson Services Inc.

• Penumbra, Inc.

• MicroPort Scientific Corporation

• Stryker

• TERUMO CORPORATION