Neurology devices are designed to aid diagnose, prevent, monitor and treat a variety of neurological disorders and conditions such as Parkinson’s disease, Alzheimer’s disease, epilepsy, major depression, spinal cord and traumatic brain injuries.
The market is valued at nearly $8 billion in 2017 due to the changes in lifestyle, increased adoption of neurological devices, rise in global burden of neurology disorders and economic growth.
In the report, the global neurology devices market is divided into four segments. Almost half of the market share is occupied by neurostimulation devices and the remaining half is occupied by other segments. They are interventional neurology, neurosurgery devices, and cerebrospinal fluid (CSF) management market.
The USA was the largest country in the neurology devices market in 2017, accounting for more than one-fifth of the market share. China and Japan followed the USA as the next largest countries in the market.
The neurology devices market is a relatively consolidated market. The top five competitors in the market made up nearly 53% of the total market in 2017. Medtronic, plc was the largest competitor of the market, followed by Abbott Lab, B. BraunMelsungen AG, Stryker Corporation and LivaNova. Medtronic is a medical technology, services and solutions company and serves hospitals, physicians, clinicians and patients in approximately 160 countries worldwide. Medtronic was founded in 1949 and is headquartered in Dublin, Ireland.
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