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.
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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.
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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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