Neurology Devices Market Size, Share, Growth Analysis, By Product(Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Cerebrospinal Fluid Devices), By End User(Hospitals, Neurology Clinics, and Ambulatory Care Centers), By Region - Industry Forecast 2024-2031

Global Neurology Devices Market size was valued at USD 14.58 Billion in 2022 and is poised to grow from USD 15.76 Billion in 2023 to USD 29.39 Billion by 2031, at a CAGR of 8.1% during the forecast period (2024-2031).

The neurology devices market share is increasing due to an increase in neurological problems, significant investments from private companies in neurology devices, and better research and development in neurotherapy. The increasing incidence of neurological issues inclusive of Alzheimer's, stroke, Parkinson's, and epilepsy, is boosting the need for advanced diagnostic and therapeutic devices. For example, according to projections by way of the United Nations Population Funds, the global share of people over sixty-five years vintage almost doubled. Older human beings are at a more hazard of growing neurological problems. 

Surging cases of neurological disorders and cardiovascular diseases are primarily augmenting the demand for neurovascular devices around the world. The rapidly increasing geriatric population around the world and growing awareness regarding neurovascular disorders are also expected to boost sales of neurovascular devices in the future. The rising popularity of minimally invasive surgeries, advancements in medical device technology, and emphasis on early diagnosis are also expected to contribute to global neurology devices market growth across the forecast period. High prevalence of acute ischemic stroke on a global level is also creating new opportunities for neurovascular device suppliers around the world. However, high costs of neurovascular devices and stringent regulations are estimated to hamper neurology devices market development potential in the long run. Limited accessibility in developing and under-developed countries coupled with the risk of complications or failures is also estimated to impede neurovascular device demand outlook in the long run.