Description

Introduction

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. Wearable technology innovations are a new trend in the neurology device market. Wearable technology helps monitor symptoms automatically and also predicts some serious conditions such as seizures and disease progression before the patient is aware of them. These devices can collect health-related data at anytime and anywhere and thus are useful in monitoring or diagnose several kinds of neurological disorders such as Parkinson’s disease, multiple sclerosis, and epilepsy and also helpful to neurologists treating those patients.

End-user/Technology

The top users of this technology are mostly from Healthcare institutions (hospitals, medical schools, group practices, individual surgeons, and governing bodies), diagnostic centers & research institutes.

Market Dynamics

Global Neurology Monitoring Market is expected to grow at a CAGR of 7.1 % for the next decade. The key opportunity witnessed in the global market is huge growth potential in emerging economies. Continued investment in healthcare by the government and increasing number of hospitals along with neuro specialty clinics has continued driving the growth of these devices. Additionally, no requirement of operation and small size of devices have been driving these devices market

Market Segmentation

The global neurology monitoring devices market can be segmented on application into monitors of intracranial pressure and blood flow dynamics, i.e., intracranial pressure monitor, jugular venous oximetry, transcranial Doppler (TCD) ultrasonography, near-infrared spectroscopy, brain tissue oxygen tension monitors, monitors of brain electrical activity (electroencephalography, evoked potentials-sensory and motor). By procedure as non-Invasive, invasive and by geography as North America, Europe, Asia-Pacific, Middle East & Africa and South America.

Regional/Geographic Analysis

Geographically, the global neurology monitoring market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. The Asia Pacific was the most significant region in the neurology devices market in 2017, accounting for around 33% market share. North America was the second largest region accounting for about 30% market share. Africa was the lowest region accounting for approximately 4% market share.

Opportunities

The high cost-effectiveness and portability of such devices are the key drivers for the growth of this market. In this market study, analysts have observed that neurodiagnostic and monitoring devices are more cost-effective when compared to alternative medical imaging tools like CT scan and MRI. Therefore, it can be estimated that the utilization of these devices in small diagnostic clinics and centers will increase rapidly during the forecast period.  Low cost is another factor that impels the use of such devices in hospitals and clinics in low- and middle-income countries.

Key Players

Some of the key players in the market are Cadwell, Compumedics, Natus Medical, Nikon Kohden, Blackrock NeuroMed, Delsys, Electrical Geodesic (EGI), Elmiko, LifeLines Neurodiagnostic Systems, MEG International Services, Mega Electronics, Motion Lab Systems, Neurovirtual, Nonin Medical, Philips, and Zynex NeuroDiagnostics.