Based on the American Neurological Association (ANA) data, neurological diseases impact an estimated 100 million Americans every year, with the costs of expenditure for dementia and stroke alone projected to be more than USD 600 billion by 2030.
The growing burden of cerebral stroke and other disorders, such as Alzheimer’s and Parkinson’s, leads to the increasing number of patients in the hospitals, which ultimately increases the usage of neurology devices. Therefore, the industry is expected to witness a considerable increase in the demand for neurology devices during the forecast period.
The other factors include huge investments by private players on neurology devices, an increase in R&D in the field of neuro therapies, and an increase in the aging population.
Key Market Trends
Cerebrospinal Fluid Management Devices are Expected to Witness Rapid Growth in the Future
Cerebral spinal fluid (CSF) shunt systems are used to treat hydrocephalus, which is a common medical procedure and a life-saving treatment for many patients. These shunt systems drain excess fluid from the brain to another part of the body, where the fluid is absorbed as part of the circulatory process.
SF shunts are commonly used to treat hydrocephalus. If left unchecked, CSF imbalance can lead to elevated intracranial pressure (ICP), which can lead to a variety of complications. CSF shunts can be used to alleviate these problems in patients, who suffer from hydrocephalus. According to, National Hydrocephalus Foundation, the United States, 2018 report, one out of every 500 births results in hydrocephalus, and about 6,000 children annually develop hydrocephalus during the first 2 years of life. As the number of patients increases, there is increasing use of the shunt systems and so the growth of the segment.
The North American neurology devices market is majorly dominated by the global players. However, in the future, some small to mid-sized companies are also expected to penetrate the market. Some of the major players in the market are Boston Scientific Corporation, Medtronic PLC, Nihon Kohden Corporation, Stryker, and B. Braun Melsungen AG.
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