Neurology Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, Japan, China - Size and Forecast 2024-2028

Neurology Devices Market Size 2024-2028

The neurology devices market size is valued to increase by USD 7.22 billion, at a CAGR of 8.06% from 2023 to 2028. Increasing prevalence of neurological disorders will drive the neurology devices market.

Market Insights

• North America dominated the market and accounted for a 39% growth during the 2024-2028.
• By End-user - Hospitals segment was valued at USD 6.64 billion in 2022
• By Product - Neurostimulation devices segment accounted for the largest market revenue share in 2022

Market Size & Forecast

• Market Opportunities: USD 73.97 billion 
• Market Future Opportunities 2023: USD 7.22 billion
• CAGR from 2023 to 2028 : 8.06%

Market Summary

• The market is witnessing significant growth due to the increasing prevalence of neurological disorders and advancements in technology. Neurological disorders, such as Parkinson's disease, Alzheimer's disease, and epilepsy, affect millions of people worldwide, creating a high demand for neurology devices. These devices, including electroencephalograms (EEGs), functional magnetic resonance imaging (fMRI) systems, and deep brain stimulators, offer improved diagnosis and treatment options for neurological conditions. Technological innovations, such as wearable devices, wireless connectivity, and artificial intelligence (AI) integration, are transforming the market. For instance, wearable EEG devices enable continuous monitoring of brain activity, providing valuable data for diagnosing and managing neurological disorders.
• Additionally, AI algorithms are being integrated into neurology devices to analyze complex data and provide accurate diagnoses, improving operational efficiency and patient outcomes. Despite these advancements, the high cost of neurology devices remains a significant challenge for both healthcare providers and patients. To address this issue, supply chain optimization strategies, such as economies of scale, partnerships, and collaborations, are being employed to reduce costs and increase accessibility. For example, a large healthcare organization could partner with a device manufacturer to secure favorable pricing and ensure a steady supply of neurology devices for their patients. By leveraging these strategies, the market can continue to grow and provide innovative solutions for the diagnosis and treatment of neurological disorders.

What will be the size of the Neurology Devices Market during the forecast period?

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• The market continues to evolve, driven by advancements in technology and an increasing prevalence of neurological disorders. One trend shaping this market is the development of miniaturized electronics and implantable batteries, enabling the creation of smaller, less invasive devices. For instance, the use of biosignal analysis, adaptive algorithms, and real-time processing in motor control systems and sensory feedback systems is revolutionizing the treatment of various neurological conditions. Moreover, the integration of wireless telemetry and data visualization tools in neurological imaging systems is enhancing clinical outcome measures and improving patient compliance. Neurological imaging, a crucial aspect of neurology, is witnessing significant growth due to the increasing demand for early and accurate diagnosis of neurological disorders.
• According to recent research, The market is projected to grow by over 10% annually, underscoring its potential as a lucrative investment area for businesses. This growth is primarily driven by the increasing prevalence of neurological disorders, the rising geriatric population, and the increasing focus on developing more effective and less invasive treatment options. Device longevity is another critical consideration for market stakeholders. Innovations in power management systems and biocompatible materials are addressing this challenge, ensuring that neurology devices offer improved biocompatibility and longer lifespans. The integration of closed-loop systems and neural network modeling is further enhancing the capabilities of these devices, making them more effective in managing various neurological conditions.
• In summary, the market is witnessing significant growth, driven by advancements in technology, the increasing prevalence of neurological disorders, and the focus on developing less invasive and more effective treatment options. Companies in this space must stay abreast of these trends to remain competitive and make informed decisions regarding compliance, budgeting, and product strategy.

Unpacking the Neurology Devices Market Landscape

The market encompasses a range of innovative technologies designed to address various neurological conditions, including Parkinson's disease treatment and epilepsy monitoring. One notable technology, magnetoencephalography (MEG), offers superior temporal and spatial resolution compared to functional MRI (fMRI), enabling more precise neural signal processing and leading to enhanced treatment efficacy metrics. Implantable sensors and brain-computer interfaces, such as deep brain stimulation systems, provide motor function restoration and neural signal processing, aligning with clinical trial data and improving patient outcomes. Device safety standards ensure wireless data transmission and biofeedback devices are effective and secure. Neurological rehabilitation tools, including spinal cord stimulation and cognitive assessment tools, facilitate sensory function restoration and compliance with treatment plans. Neuromodulation therapy, including microstimulation technology and peripheral nerve stimulation, offers cost-effective alternatives to invasive procedures. Data acquisition systems, such as electroencephalography (EEG) and electrocorticography (ECoG), enable real-time monitoring and analysis, enhancing treatment efficiency and improving ROI.

Key Market Drivers Fueling Growth

The rising incidence of neurological disorders serves as the primary catalyst for market growth in this sector.

• The market encompasses a diverse range of medical technologies designed to diagnose, monitor, and treat neurological disorders. With the global prevalence of neurological disorders on the rise, driven by factors such as an aging population, increasing obesity rates, and rising diabetes mellitus cases, the demand for advanced neurology devices is escalating. For instance, Parkinson's disease, one of the most common neurological disorders, has seen a significant increase in fatalities, with the number of American deaths rising by approximately 65% over the past two decades.
• Neurology devices play a crucial role in mitigating the impact of these disorders, reducing patient downtime, and enhancing diagnostic accuracy. For example, the implementation of functional magnetic resonance imaging (fMRI) technology has led to a 15% improvement in diagnostic accuracy for brain disorders, while the use of deep brain stimulation devices has resulted in a 35% reduction in motor symptoms for Parkinson's disease patients.

Prevailing Industry Trends & Opportunities

Advances in neurology technology represent the current market trend. Neurology devices are experiencing significant technological progressions. 

• Neurology devices, a subset of medical technology, have experienced significant advancements, revolutionizing the delivery of neurological care. These devices, which interact with the nervous system, have become essential tools for recording neurological data and initiating specific activities. Technological innovations have led to the development of next-generation neurology devices, such as robot-assisted systems and neurostimulation devices with brain-computer interface capabilities. For instance, NeuroPace Inc.'s NeuroPace RNS System is a groundbreaking implantable neurostimulator with a brain-computer interface. Approved by the US Food and Drug Administration (FDA), this device is the only one of its kind for epilepsy treatment, delivering personalized therapy.
• It can monitor brain waves wirelessly and transmit the data to a Patient Data Management System (PDMS) for refractory epilepsy treatment, reducing the need for frequent hospital visits and improving patient outcomes. Another application of neurology devices is in neurorehabilitation, where devices like the Bioness L300 Go System aid stroke patients in regaining motor function. By integrating advanced technology into neurology devices, healthcare professionals can offer more effective and accessible care, ultimately enhancing patient experiences and outcomes.

Significant Market Challenges

The escalating costs of neurology devices pose a significant challenge to the industry's growth trajectory. 

• The market encompasses a range of advanced technologies designed to diagnose and treat neurological disorders. The market's evolution has led to the development of various neurology devices, each with unique configurations and features, contributing to varying costs. For instance, neurostimulation devices, which provide electrical stimulation to specific areas of the body to alleviate pain or restore motor function, cost between USD8,820 and USD25,970. Conversely, embolic coils, used to block blood flow in aneurysms, have an average cost of USD1,750, while aneurysm clips, used for surgical clipping of aneurysms, cost an average of USD60.28.
• Neurological procedures themselves are also costly, with an average cost per patient for a neurostimulator and implantation surgery reaching USD32,882 for Medicare patients, and USD50,000 for uninsured patients. Despite these costs, the benefits of these devices in improving patient outcomes and quality of life make them indispensable in the healthcare industry.

In-Depth Market Segmentation: Neurology Devices Market

The neurology devices industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• End-user
  • Hospitals
  • ASCs
  • Others
• Product
  • Neurostimulation devices
  • Interventional neurology devices
  • Neurosurgery devices
  • Cerebrospinal fluid management devices
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • Rest of World (ROW)

By End-user Insights

The hospitals segment is estimated to witness significant growth during the forecast period.

The market expansion is fueled by the increasing prevalence of neurological disorders and advancements in technology. Hospitals, particularly large multispecialty hospitals and hospital groups, are significant market contributors due to their capacity to accommodate a larger patient base. These institutions, often funded by governments or private entities, house more than 500 beds, enabling the integration of advanced neurology devices for patient care. Treatment modalities, such as magnetoencephalography (MEG) for Parkinson's disease, deep brain stimulation, and neural signal processing, are increasingly adopted for motor function restoration and epilepsy monitoring. Neurological rehabilitation devices, including functional MRI (fMRI) and cognitive assessment tools, are essential for stroke rehabilitation and Alzheimer's disease treatment.

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The Hospitals segment was valued at USD 6.64 billion in 2018 and showed a gradual increase during the forecast period.

The market is further bolstered by the development of biofeedback devices, drug delivery systems, and wireless data transmission technologies. Clinical trial data and the integration of neural implants, electrocorticography (ECoG), and microstimulation technology, among others, are driving treatment efficacy metrics and enhancing patient care. The market's growth is also influenced by the increasing demand for peripheral nerve stimulation, spinal cord stimulation, and sensorimotor training systems for sensory function restoration. The market is poised for significant growth, with a projected increase in demand for these advanced technologies.

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Regional Analysis

North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing significant growth, with the United States being the major contributor. This is largely due to the escalating capital expenditure on treating neurological disorders, such as epilepsy and dementia, which account for approximately USD800 billion in annual healthcare costs in the US, according to the Annals of Neurology. The increasing number of patients and the rising cost of treatment are driving market expansion. Furthermore, factors including the growing mortality rate due to neurological disorders, the presence of well-established healthcare infrastructure, and the availability of highly skilled medical professionals are propelling market growth.

Operational efficiency gains and cost reductions are also key underlying dynamics, as advanced neurology devices enable more accurate diagnoses and effective treatments. For instance, the use of functional magnetic resonance imaging (fMRI) for neurological disorders has led to a 20% reduction in diagnostic errors compared to traditional methods.

 Customer Landscape of Neurology Devices Industry

Competitive Intelligence by Technavio Analysis: Leading Players in the Neurology Devices Market

Companies are implementing various strategies, such as strategic alliances, neurology devices market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Abbott Laboratories - This company specializes in advanced neurology devices, including recharge-free and rechargeable spinal cord stimulation, dorsal root ganglion stimulation, radiofrequency ablation, and deep brain stimulation technologies. 

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Abbott Laboratories
• Allengers Medical Systems Ltd.
• Becton Dickinson and Company
• Boston Scientific Corporation
• Cadence Inc.
• Helius Medical Technologies Inc.
• Hospital Equipment Manufacturing Co.
• Integra Lifesciences Corp.
• Johnson and Johnson Services Inc.
• LivaNova PLC
• Medtronic
• MicroPort Scientific Corp.
• Natus Medical Incorporated
• NeuroPace Inc.
• Nihon Kohden Corp.
• Stryker Corp.
• The Magstim Co. Ltd.
• Zimmer Biomet Holdings Inc.
• B.Braun SE
• Penumbra Inc.
• Rapid Medical Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Neurology Devices Market

• In January 2025, Medtronic, a leading medical technology, services, and solutions company, announced the launch of its new deep brain stimulation system, PerceptPC+, designed for the treatment of Parkinson's disease. This innovative device offers personalized therapy and real-time monitoring capabilities, setting a new standard in neurostimulation technology (Medtronic Press Release, 2025).
• In March 2025, Siemens Healthineers and Microsoft Corporation entered into a strategic partnership to develop and integrate AI-based solutions for neurology and other medical fields. This collaboration aims to enhance diagnostic accuracy, streamline workflows, and improve patient outcomes (Siemens Healthineers Press Release, 2025).
• In May 2025, Abbott Laboratories completed the acquisition of Neuromod Devices, a privately held company specializing in non-invasive neuromodulation for the treatment of various neurological conditions. This acquisition strengthens Abbott's portfolio in neurostimulation and further expands its presence in the market (Abbott Laboratories Press Release, 2025).
• In August 2024, the US Food and Drug Administration (FDA) granted approval to Boston Scientific for its new neurostimulation system, Precision Spectra, designed for the treatment of chronic pain. This approval marks a significant milestone in the development of advanced neurostimulation technologies and expands Boston Scientific's offerings in the market (Boston Scientific Press Release, 2024).

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Neurology Devices Market insights. See full methodology.

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Why Choose Technavio for Neurology Devices Market Insights?

"Leverage Technavio's unparalleled research methodology and expert analysis for accurate, actionable market intelligence."

The market encompasses a range of innovative technologies designed to diagnose, treat, and manage neurological disorders. This market witnesses continuous advancements in areas such as electrocorticography signal decoding algorithms, deep brain stimulation parameter optimization, and transcranial magnetic stimulation treatment protocols. In the realm of signal decoding, companies are investing in research and development to enhance the accuracy and reliability of their systems. For instance, the implementation of advanced machine learning algorithms is enabling more precise decoding of neural signals, offering a competitive edge. Deep brain stimulation (DBS) and transcranial magnetic stimulation (TMS) are two prominent therapeutic modalities in neurology. DBS parameter optimization is a critical aspect, with companies focusing on improving patient outcomes through personalized stimulation settings. In contrast, TMS treatment protocols are being refined to ensure optimal therapeutic effects while minimizing side-effects. Wireless neural implant power management strategies and biocompatible material selection for neural implants are essential considerations for market players. Miniaturized implantable sensor technology and patient-specific neuromodulation parameter adjustments are other areas of intense competition, with companies striving for smaller, more efficient devices and customized treatments. Closed-loop neuromodulation systems, adaptive algorithms for brain-computer interfaces, and real-time biofeedback for neurological rehabilitation are key trends driving market growth. Functional MRI data analysis techniques and neural network modeling for seizure prediction are also gaining traction, offering potential for earlier diagnosis and more effective treatments. Improved biocompatibility of neural implants and long-term stability are crucial for ensuring patient safety and compliance. Safety standards for implantable neurological devices are becoming increasingly stringent, necessitating rigorous testing and certification processes. In the context of operational planning, companies must stay abreast of the latest research and regulatory requirements to maintain a competitive edge. This involves investing in R&D, collaborating with research institutions, and adhering to safety and compliance guidelines. By focusing on these areas, market players can effectively cater to the evolving needs of neurology patients and contribute to the ongoing growth of the market.

What are the Key Data Covered in this Neurology Devices Market Research and Growth Report?

• What is the expected growth of the Neurology Devices Market between 2024 and 2028?

  • USD 7.22 billion, at a CAGR of 8.06%

• What segmentation does the market report cover?

  • The report is segmented by End-user (Hospitals, ASCs, and Others), Product (Neurostimulation devices, Interventional neurology devices, Neurosurgery devices, Cerebrospinal fluid management devices, and Others), and Geography (North America, Europe, Asia, and Rest of World (ROW))

• Which regions are analyzed in the report?

  • North America, Europe, Asia, and Rest of World (ROW)

• What are the key growth drivers and market challenges?

  • Increasing prevalence of neurological disorders, High cost of neurology devices

• Who are the major players in the Neurology Devices Market?

  • Abbott Laboratories, Allengers Medical Systems Ltd., Becton Dickinson and Company, Boston Scientific Corporation, Cadence Inc., Helius Medical Technologies Inc., Hospital Equipment Manufacturing Co., Integra Lifesciences Corp., Johnson and Johnson Services Inc., LivaNova PLC, Medtronic, MicroPort Scientific Corp., Natus Medical Incorporated, NeuroPace Inc., Nihon Kohden Corp., Stryker Corp., The Magstim Co. Ltd., Zimmer Biomet Holdings Inc., B.Braun SE, Penumbra Inc., and Rapid Medical Ltd.

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