Pediatric Neurology Devices Market to Reach USD 5.84 Billion, Globally, by 2031 at 7.8% CAGR: Allied Market Research

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Feb 28, 2023, 04:34 ET

The surge in the incidence of neurological diseases, the prevalence of epilepsy and migraines in children, and the rise in the number of advanced product launches drive the growth of the global Pediatric Neurology Devices market

PORTLAND, Ore., Feb. 28, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Pediatric Neurology Devices Market by Product Type (Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Cerebrospinal Fluid Management Devices, and Others), by Condition (Stroke, Seizures, Hydrocephalus, Oncology, and Others), by Age group (0-5 Years, 5-10 Years, and 10-15 Years) and End User (Hospitals, Ambulatory surgery centers, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global pediatric neurology device market valued for $2.76 Billion in 2021 and is projected to reach $5.84 Billion by 2031, registering a CAGR of 7.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Drivers, Restraints, and Opportunities-

Increased emphasis on early detection and treatment of neurological disease, the surge in demand for medical devices, and the rise in applications of pediatric medical devices in neurological disorders drive the growth of the global Pediatric Neurology Devices market. On the other hand, the High cost associated with the diagnosis and treatment of neurological disorders restrains the growth to some extent. However, the increase in funding for the treatment of neurological disorders and the rise in the prevalence of neurological disorders are expected to create lucrative opportunities in the industry.

Impact of COVID-19 Pandemic on Pediatric Neurology Devices Market-

The outbreak of the pandemic restricts the growth of the pediatric neurology devices market due to disrupting the supply chain of Pediatric Neurology Devices and limitations in manufacturing capacity. This factor impacted the market negatively.
However, the global market for Pediatric Neurology Devices has recovered slowly and steadily.

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The neurosurgery devices segment to maintain its dominance during the forecast period-

By product type, the neurosurgery devices segment held the largest share in 2021, garnering nearly three-fourths of the global Pediatric Neurology Devices market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 8.7% during the forecast period. This is driven by the rising number of neurosurgeries.

The hospital segment to rule the roost-

By end user, the hospital, the segment contributed to more than two-thirds of the global Pediatric Neurology Devices market share in 2021 and is projected to rule the roost by 2031. The ambulatory surgery centers segment would also display the fastest CAGR of 8.4% throughout the forecast period. The expansion of the pharmaceutical industry drives segment growth.

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North America garnered the major share in 2021-

By region, North America held the major share in 2021, garnering more than three-fifths of the global Pediatric Neurology Devices market revenue, and is expected to dominate by 2031. This is due to the prevalence of neurological disorders in North America. on the other hand, Asia-Pacific, would showcase the fastest CAGR of 9.2% from 2022 to 2031.

Leading Market Players-

Integra Lifesciences Holdings
B. Braun se
Medtronic PLC
Natus Medical Incorporated
Stryker Corporation
Boston Scientific Corporation
Abbott laboratories
Livanova PLC
Zimmer Biomet holding inc.
Karl Storz se and co. Kg

The report analyzes these key players in the global Pediatric Neurology Devices market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

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