Pediatric Neurology Device: Increasing Prevalence of Major Neurological Disorders is Expected to Boost The Americas Market at a CAGR of 4.5% During The Forecast Period, 2022-2030

Pune, India, December, 2022 /MRFR Press Release/- Market Research Future has a half cooked research report on the pediatric neurology device market.

Market Highlights

The pediatric neurology device market is expected to reach USD 3241.68 Billion at a CAGR of 4.5% during forecast period, 2022-2030. The pediatric neurological device market is estimated to grow at a steady pace and is expected to  achieve a significant growth in the market. These medical devices are being launched with a set of rules and regulations; to provide safety, quality and a harmless product for the good public/patient health. The medical device industry is always under surveillance of rules and regulations and clinical trials. Companies have to meet the standards regarding the manufacturing of devices and special care needs to be taken for the neurological devices used for children. Most neurological devices are classified either as class I (lowest risk), class II (moderate risk) or class III (high risk) devices. Examples of the class I devices include ventricular needles and anvils used to form skull plates. Examples of the class II devices include neurostimulators, aneurysm clips, and blood clot retrievers.

According to Centers for Disease Control and Prevention, in 2015, 1.2% of the total U.S. population had active epilepsy accounting for about 3.4 million people with epilepsy nationwide which includes 3 million adults and 470,000 children. The total indirect and direct cost of epilepsy in the U.S. is estimated to be $15.5 billion yearly. Huge number of patients suffer with other Neurology disorders.

Furthermore, looking at the current trends of the people in this region. The lifestyle and the habits associated with it are leading to increasing prevalence of neurological disorders in children. With increasing number of occurrences of neurological diseases and also geriatric population, the demand of Pediatric Neurology devices is expected to be enormous. Thus, this will eventually result in the increasing demand for devices and products to monitor the disease.

Additionally, invention of new technology, increasing awareness, and investments in research and development have boosted the pediatric neurology device market globally. However, high cost associated with monitoring and diagnosis of disease may restrain the market growth.     

Regional Analysis

Geographically, the Americas’ pediatric neurology device market is segmented into North America and South America. North America is further segmented into the U.S. and Canada. The U.S. commands the largest pediatric neurology device market due to the presence of a well-developed healthcare sector and large patient population. U.S. dominates the Americas pediatric neurology device market owing to high healthcare spending, increasing population, increased research & development activities, and the concentration of major companies in this region, which have together fuelled the market growth in this region.

Segmentation

Americas Pediatric Neurology Devices market is segmented on the basis of type, service and treatment, neurological subspecialties, and age group. On the basis of the type, it is segmented into neurosurgery devices, neurostimulator, cerebrospinal fluid (CSF) management devices, and others. On the basis of the service and treatment, it is segmented into electroencephalogram, intrathecal baclofen therapy, neurological evaluations, vagal nerve stimulation, and others. On the basis of the neurological subspecialties, it is segmented into neuro-oncology, neuromuscular, neonatal neurology, neuroimmunology, stroke, and others. On the basis of the age group, it is segmented into neonates, infants, children, and adolescents.

Explore In-depth Details: Pediatric Neurology Devices Market Research Report

Key Players

Some of key the players in the market are Ethicon Inc. (U.S.), Inova Health System (U.S.), Medtronic (U.S.), The Nemours Foundation (U.S.), Stryker Corporation (U.S.), Boston Scientific Corporation (U.S.), B.Braun Melsungen AG (Germany), Integra LifeSciences Corporation (U.S.), St. Jude Medical, LLC (U.S.).