Pediatric Neurology Devices Market
Pediatric Neurology Devices Market Forecasts to 2030 - Global Analysis By Product Type(Neurosurgery Devices, Cerebrospinal Fluid Management Devices, Neurostimulation Devices, Interventional Neurology Devices and Other Product Types), Condition (Seizures, Stroke, Hydrocephalus, Oncology and Other Conditions), Age Group, Service and Treatment, Neurological Subspecialties, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $3.3 BN |
|
Projected Year Value (2030) |
US $6.4 BN |
|
CAGR (2023 - 2030) |
9.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Pediatric Neurology Devices Market is accounted for $3.3 billion in 2023 and is expected to reach $6.4 billion by 2030 growing at a CAGR of 9.8% during the forecast period. Medical equipment made especially for the diagnosis, observation, and treatment of neurological diseases in children is known as pediatric neurology equipment. These devices treat disorders including epilepsy, cerebral palsy, and developmental delays, which include a variety of instruments such as electroencephalography (EEG) machines, pediatric MRIs, and CT scanners for rehabilitation.
According to the Migraine Research Foundation report, it has been observed that half of all migraine sufferers have their first attack before the age of 12 and migraine has even been reported to in 18 months old children.
Market Dynamics:
Driver:
Rising demand in government programs and projects
The government initiatives provide funds, encourage teamwork, and foster creativity in the field of pediatric neurology by supporting the development of advanced diagnostic and treatment devices, ultimately improving patient outcomes. Additionally, such initiatives raise awareness about pediatric neurological disorders and the importance of specialized care. Therefore, pediatric neurology devices will continue to develop and innovate as long as governments continue to place a high priority on pediatric healthcare and research, which are driving this market’s growth.
Restraint:
High cost
The development and production of specialized pediatric neurology devices often involve extensive research, leading to substantial costs. These high costs can result in inflated prices for devices, making them unaffordable for many patients and healthcare providers. The financial strain on healthcare systems can limit their ability to invest in the latest technologies and advancements in pediatric neurology treatment. Additionally, the possible financial strain on patients, healthcare providers, and healthcare systems is one major drawback of the high pricing in the pediatric neurology device industry.
Opportunity:
Technological advancements
The ongoing innovation in medical technology leads to the development of more effective and minimally invasive devices for diagnosing, monitoring, and treating pediatric neurological disorders. This progress includes advanced neuroimaging techniques, neurostimulation devices, and surgical tools that enhance the precision and safety procedures. Furthermore, these innovations improve patient outcomes, reduce treatment-related discomfort, and contribute to a better quality of life for pediatric patients by providing healthcare professionals with increasingly sophisticated tools, which is boosting this market expansion.
Threat:
Lack of awareness
The restricted adoption and utilization of pediatric neurology equipment is a significant drawback resulting from a lack of understanding. Patients, caregivers, and healthcare professionals may not be aware of all the technologies that are available or all of their potential advantages. In addition, this may result in pediatric neurology equipment being neglected or adopted more slowly, which would ultimately affect patient treatment. The lack of awareness may contribute to a slower pace of innovation and research in the field, thereby impeding this market size.
Covid-19 Impact
The COVID-19 pandemic has had negative impacts on the pediatric neurology device market, primarily due to disruptions in healthcare systems and economic uncertainties. Lockdowns and restrictions led to a reduction in elective procedures and non-urgent medical appointments, affecting the diagnosis and treatment of pediatric neurological conditions. The adoption of new gadgets and technology was also impacted by the financial strains placed on healthcare systems and the decline in patient visits.
The neurosurgery devices segment is expected to be the largest during the forecast period
The neurosurgery devices segment is estimated to hold the largest share due to surgical instruments and equipment specifically made for treating neurological problems in children. This covers a broad spectrum of devices, including pediatric-sized neuroendoscopes, cranial fixation devices, minimally invasive neurosurgical instruments, and patient-specific implants for ailments such as hydrocephalus and congenital abnormalities. Additionally, these enable neurosurgeons to carry out accurate and secure treatments as they are designed with the special anatomical and developmental needs of pediatric patients, which are driving this segment's growth.
The seizures segment is expected to have the highest CAGR during the forecast period
The seizures segment is anticipated to have highest CAGR during the forecast period due to the increasing prevalence of pediatric epilepsy and the ongoing development of innovative devices. This includes electroencephalography (EEG) machines for monitoring brain activity, anti-seizure medications, neurostimulation devices like vagus nerve stimulators, and seizure alarms. Furthermore, it focuses on devices designed to diagnose, monitor, and treat seizures in pediatric patients and are crucial in the management of pediatric epilepsy which are thereby boosting this segment’s expansion.
Region with largest share:
North America commanded the largest market share during the extrapolated period. Pediatric neurology services are now more widely accessible due to the rise in popularity of telemedicine alternatives. New developments in the field of neuroimaging and EEG include smaller, more kid-friendly equipment that makes examinations of children more accurate and comfortable. Countries such as the United States, Canada, and Mexico have improved therapy options for diseases like epilepsy due to developments in neurostimulation techniques and data analytics to improve data interpretation, which are propelling this region’s growth.
Region with highest CAGR:
Europe is expected to witness highest CAGR over the projection period, owing to the regulatory organizations like the European Medicines Agency (EMA) and national health agencies which impose strict safety and efficacy standards for these devices. Major Key players such as Medtronic plc, Abbott Laboratories, Siemens Healthineers and Boston Scientific Corporation contribute to development and adoption of sophisticated diagnostic tools, therapeutic devices, and monitoring solutions tailored specifically for children. Furthermore, the cost of these devices is frequently covered by health insurance and public healthcare systems in many European nations which are driving this region’s expansion.
Key players in the market
Some of the key players in the Pediatric Neurology Devices Market include Medtronic, Elana, Inc., Stryker Corporation, Inova Healthcare System, Boston Scientific Corporation, The Nemours Foundation, Integra LifeSciences Corporation, B.Braun Melsungen AG, Abbott Laboratories, St. Jude Medical, LLC, Zimmer Biomet Holding Inc., LivaNova PLC, Natus Medical Incorporated and Karl Storz SE & Co. KG.
Key Developments:
In October 2023, Boston Scientific Corporation announced that the U.S. Food and Drug Administration (FDA) has approved an expanded indication of the WaveWriter Alpha™ Spinal Cord Stimulator (SCS) Systems for the treatment of painful diabetic peripheral neuropathy (DPN), a complication of diabetes that can affect the lower extremities of the body.
In September 2023, Boston Scientific Corporation announced it has entered into a definitive agreement to acquire Relievant Medsystems, Inc., a privately held medical technology company that has developed and commercialized the Intracept® Intraosseous Nerve Ablation System to treat vertebrogenic pain, a form of chronic low back pain.
In June 2023, Amcor the American Diabetes Association® and Abbott announced collaboration aimed at better understanding how diabetes technology like continuous glucose monitoring (CGM) systems can help people living with diabetes make informed decisions about their food and activity.
In March 2023, Somatus, the nation's leading and largest value-based kidney Care Company, and Inova Health System announce the new Nurse Navigator Program launch, an innovative addition to the already successful partnership.
Product Types Covered:
• Neurosurgery Devices
• Cerebrospinal Fluid Management Devices
• Neurostimulation Devices
• Interventional Neurology Devices
• Other Product Types
Conditions Covered:
• Seizures
• Stroke
• Hydrocephalus
• Oncology
• Other Conditions
Age Group Covered:
• 0-5 Years
• 5-10 Years
• 10-15 Years
Service and Treatments Covered:
• Intrathecal baclofen therapy
• Vagal nerve stimulation
• Electroencephalogram
• Neurological Evaluations
• Other Service and Treatments
Neurological Subspecialties Covered:
• Neuromuscular
• Neuroimmunology
• Neuro-oncology
• Neonatal Neurology
End Users Covered:
• Ambulatory surgery centers
• Hospitals
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Pediatric Neurology Devices Market, By Product Type
5.1 Introduction
5.2 Neurosurgery Devices
5.3 Cerebrospinal Fluid Management Devices
5.4 Neurostimulation Devices
5.5 Interventional Neurology Devices
5.6 Other Product Types
6 Global Pediatric Neurology Devices Market, By Condition
6.1 Introduction
6.2 Seizures
6.3 Stroke
6.4 Hydrocephalus
6.5 Oncology
6.6 Other Conditions
7 Global Pediatric Neurology Devices Market, By Age Group
7.1 Introduction
7.2 0-5 Years
7.3 5-10 Years
7.4 10-15 Years
8 Global Pediatric Neurology Devices Market, By Service and Treatment
8.1 Introduction
8.2 Intrathecal baclofen therapy
8.3 Vagal nerve stimulation
8.4 Electroencephalogram
8.5 Neurological Evaluations
8.6 Other Service and Treatments
9 Global Pediatric Neurology Devices Market, By Neurological Subspecialties
9.1 Introduction
9.2 Neuromuscular
9.3 Neuroimmunology
9.4 Neuro-oncology
9.5 Neonatal Neurology
10 Global Pediatric Neurology Devices Market, By End User
10.1 Introduction
10.2 Ambulatory surgery centers
10.3 Hospitals
10.4 Other End Users
11 Global Pediatric Neurology Devices Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Medtronic
13.2 Elana, Inc.
13.3 Stryker Corporation
13.4 Inova Healthcare System
13.5 Boston Scientific Corporation
13.6 The Nemours Foundation
13.7 Integra LifeSciences Corporation
13.8 B.Braun Melsungen AG
13.9 Abbott Laboratories
13.10 St. Jude Medical, LLC
13.11 Zimmer Biomet Holding Inc.
13.12 LivaNova PLC
13.13 Natus Medical Incorporated
13.14 Karl Storz SE & Co. KG
List of Tables
1 Global Pediatric Neurology Devices Market Outlook, By Region (2021-2030) ($MN)
2 Global Pediatric Neurology Devices Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Pediatric Neurology Devices Market Outlook, By Neurosurgery Devices (2021-2030) ($MN)
4 Global Pediatric Neurology Devices Market Outlook, By Cerebrospinal Fluid Management Devices (2021-2030) ($MN)
5 Global Pediatric Neurology Devices Market Outlook, By Neurostimulation Devices (2021-2030) ($MN)
6 Global Pediatric Neurology Devices Market Outlook, By Interventional Neurology Devices (2021-2030) ($MN)
7 Global Pediatric Neurology Devices Market Outlook, By Other Product Types (2021-2030) ($MN)
8 Global Pediatric Neurology Devices Market Outlook, By Condition (2021-2030) ($MN)
9 Global Pediatric Neurology Devices Market Outlook, By Seizures (2021-2030) ($MN)
10 Global Pediatric Neurology Devices Market Outlook, By Stroke (2021-2030) ($MN)
11 Global Pediatric Neurology Devices Market Outlook, By Hydrocephalus (2021-2030) ($MN)
12 Global Pediatric Neurology Devices Market Outlook, By Oncology (2021-2030) ($MN)
13 Global Pediatric Neurology Devices Market Outlook, By Other Conditions (2021-2030) ($MN)
14 Global Pediatric Neurology Devices Market Outlook, By Age Group (2021-2030) ($MN)
15 Global Pediatric Neurology Devices Market Outlook, By 0-5 Years (2021-2030) ($MN)
16 Global Pediatric Neurology Devices Market Outlook, By 5-10 Years (2021-2030) ($MN)
17 Global Pediatric Neurology Devices Market Outlook, By 10-15 Years (2021-2030) ($MN)
18 Global Pediatric Neurology Devices Market Outlook, By Service and Treatment (2021-2030) ($MN)
19 Global Pediatric Neurology Devices Market Outlook, By Intrathecal baclofen therapy (2021-2030) ($MN)
20 Global Pediatric Neurology Devices Market Outlook, By Vagal nerve stimulation (2021-2030) ($MN)
21 Global Pediatric Neurology Devices Market Outlook, By Electroencephalogram (2021-2030) ($MN)
22 Global Pediatric Neurology Devices Market Outlook, By Neurological Evaluations (2021-2030) ($MN)
23 Global Pediatric Neurology Devices Market Outlook, By Other Service and Treatments (2021-2030) ($MN)
24 Global Pediatric Neurology Devices Market Outlook, By Neurological Subspecialties (2021-2030) ($MN)
25 Global Pediatric Neurology Devices Market Outlook, By Neuromuscular (2021-2030) ($MN)
26 Global Pediatric Neurology Devices Market Outlook, By Neuroimmunology (2021-2030) ($MN)
27 Global Pediatric Neurology Devices Market Outlook, By Neuro-oncology (2021-2030) ($MN)
28 Global Pediatric Neurology Devices Market Outlook, By Neonatal Neurology (2021-2030) ($MN)
29 Global Pediatric Neurology Devices Market Outlook, By End User (2021-2030) ($MN)
30 Global Pediatric Neurology Devices Market Outlook, By Ambulatory surgery centers (2021-2030) ($MN)
31 Global Pediatric Neurology Devices Market Outlook, By Hospitals (2021-2030) ($MN)
32 Global Pediatric Neurology Devices Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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