The Business Research Company’s Neurology Devices Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON , UK, April 26, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The increase in patient pool due to rising geriatric population globally contributed significantly to the growth of the neurology devices market during the historic period. According to the Population Reference Bureau, the share of population over the age of 65 in the global population increased from 8% in 2015 to 9% in 2019. The global population aged 65 years or over was 703 million in 2019. This rise in the geriatric population increased the demand for medical care and drove the healthcare expenditure. For instance, in 2017, half of the Dutch healthcare budget was spent on the elderly over 65 years of age. These factors increased the demand for neurology devices and drove the market during the historic period.
The global neurology devices market size is expected to grow from $11.85 billion in 2020 to $13.38 billion in 2021 at a compound annual growth rate (CAGR) of 12.9%. Neurology devices market growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $19.25 billion in 2025 at a CAGR of 10%.
North America is the largest region in the global neurology devices market, accounting for 31% of the market in 2020. Asia Pacific is the second largest region, accounting for 31% of the global neurology devices market. Africa is the smallest region in the global neurology devices market.
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The global neurology devices market is segmented by type into cerebrospinal fluid management (CSF) devices and equipment, the interventional neurology devices market and equipment, neurosurgery devices and equipment, neurostimulation devices, by end user into hospitals and clinics, diagnostic laboratories, others, by type of expenditure into public, private, and by product into instruments/equipment, disposables.
Subsegments covered are CSF drainage systems, CSF shunts, aneurysm coiling & embolization devices, neurothrombectomy devices, angioplasty devices, interventional neurology support devices, neurosurgical navigation systems, neurosurgical endoscopes, aneurysm clips, stereotactic systems, other neurosurgery devices, implantable neurostimulation devices, external neurostimulation devices.
The major players covered in the global neurology devices market are Medtronic, Abbott Lab, B. BraunMelsungen AG, Stryker Corporation, LivaNova.
Neurology Devices Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides neurology devices global market overview, forecast neurology devices global market size and growth for the whole market, neurology devices global market segments, and geographies, neurology devices global market trends, neurology devices global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Interventional Neurology Devices And Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030
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Cerebrospinal Fluid Management (CSF) Devices And Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030
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