Global Paediatric Neurology Device Market Grows Steadily at a CAGR of 6.9%

Introduction

Pediatric neurology is a specialized field of medicine that focuses on diagnosing and treating neurological disorders in neonates, infants, children, and adolescents. Child neurology encompasses diseases and disorders affecting the spinal cord, brain, peripheral nervous system (PNS), autonomic nervous system (ANS), musculature, and blood vessels in children and adolescents. A child neurologist, also known as a pediatric neurologist, is a medical professional specializing in diagnosing and treating neurological disorders in children and adolescents.

Market Dynamics

Increasing Prevalence of Neurological Disorders Drives the Global Market

Neurological disorders (NDs) are diseases that affect the autonomic, peripheral, and central nervous systems of the body. According to a new United Nations report, neurological disorders such as Alzheimer's and Parkinson's disease, strokes, multiple sclerosis, and epilepsy, as well as migraines, brain injuries, and neuro infections, affect up to one billion people, or roughly one-sixth of the world's population, with approximately 6.8 million dying each year. Similarly, according to global statistics, 24 million people have Alzheimer's and other dementias, 62 million have cerebrovascular disease, 326 million have migraines, and 50 million have epilepsy. These factors propel the global market.

Improved Diagnostic Technologies Creates Tremendous Opportunities

The advancement of secure and effective therapies for pediatric neurological disorders contributes to improved efficacy in patient care. Continuous progress in the development of diagnostic technologies and instruments is imperative. The implementation of rigorous research methodologies and the development of advanced protocols are essential to provide superior and beneficial solutions.

Several novel technologies have emerged in the field of neurology, including a handheld vagus nerve stimulator designed specifically for episodic cluster headaches, an FDA-approved test for genetic health risks, a neurosurgery tracking system, a transcranial magnetic stimulation (TMS) therapy system for the treatment of depression, and a rehabilitation assistance robot catering to patients with stroke and other neurological conditions.

Regional Analysis

North America is the most significant global pediatric neurology device market shareholder and is predicted to grow significantly during the forecast period. The United States is predicted to account for a sizeable portion due to factors like the rising prevalence of neurological disorders and the country's aging population. The major reason fueling the market's expansion is the rising prevalence of neurological disorders like epilepsy, Parkinson's disease, Alzheimer's disease, and neuromuscular disorders. According to the Pan American Health Organization, neurological diseases are to blame for 533,172 deaths in the region in 2019, of which 213,129 (40%) were caused by men and 320,043 (60%) by women. Similarly, age-standardized mortality rates were 32.9 per 100,000 people, with 33.1 deaths per 100,000 for males and 32.2 for women.

Key Highlights

• The global pediatric neurology device market was valued at USD 2.51 billion in 2022. It is estimated to reach 5.23 billion by 2031, growing at a CAGR of 6.9% during the forecast period (2023–2031).
• Based on the type, the global pediatric neurology device market is divided into neurosurgery devices, neurostimulators, and cerebrospinal fluid (CSF) management devices. The cerebrospinal fluid (CSF) management devices segment is the highest contributor to the market and is expected to grow significantly during the forecast period.
• Based on service and treatment, the global pediatric neurology device market is divided into electroencephalogram, intrathecal baclofen therapy, neurological evaluations, and vagal nerve stimulation. The electroencephalogram segment owns the largest market share and is anticipated to expand significantly over the forecast period.
• Based on the neurological subspecialty, the global pediatric neurology device market is divided into neuro-oncology, neuromuscular, neonatal neurology, neuro-immunology, and stroke. The neuro-oncology segment dominates the global market and is expected to grow significantly over the forecast period.
• Based on age group, the global pediatric neurology device market is divided into neonates, infants, children, and adolescents. The children segment owns the largest market share and is predicted to grow at a significant rate during the forecast period.
• Based on end-users, the global pediatric neurology device market is divided into hospitals, healthcare centers, and neurological research centers. The hospital segment is the highest contributor to the market and is anticipated to grow significantly over the forecast period.
• North America is the most significant global pediatric neurology device market shareholder and is predicted to grow significantly during the forecast period.

Competitive Players

1. Abbott
2. Medtronic
3. Stryker Corporation
4. Boston Scientific
5. Braun
6. Integra LifeSciences
7. Nihon Kohden
8. Natus Medical
9. Cadwell Industries
10. neurocare group AG
11. Anuncia Medical Inc.

Recent Developments

Recent Developments

• In July 2023, Anuncia Medical Inc., a Company specializing in advancing innovations for implantable and external cerebrospinal fluid (CSF) management systems and neurocritical care, announced the successful U.S. commercial launch of the ReFlow Mini Flusher device. It is FDA-cleared for use in patients living with hydrocephalus or similar conditions. Its reduced size and profile are designed to better support a broader hydrocephalus patient population, from infants to older adults.

Segmentation

1. By Product
   1. Neurosurgery Devices
   2. Neurostimulator
   3. Cerebrospinal Fluid (CSF) Management Devices
   4. Other
2. By Service and Treatment
   1. Electroencephalogram
   2. Intrathecal Baclofen Therapy
   3. Neurological Evaluations
   4. Vagal Nerve Stimulation
3. By Neurological Subspecialty
   1. Neuro-Oncology
   2. Neuromuscular
   3. Neonatal Neurology
   4. Neuro-Immunology
   5. Stroke
4. By Age Group
   1. Neonates
   2. Infants
   3. Children
   4. Adolescents
5. By End-User
   1. Hospital
   2. Healthcare Center
   3. Specialty Clinics
   4. Neurological Research Centres
6. By Application
   
   1. Brain Tumour
   2. Epilepsy
   3. Autism Spectrum Disorder
   4. Parkinson’s Disease
   5. Others