global pediatric neurology device market

PORTLAND, OREGON, UNITED STATES, May 25, 2023 /EINPresswire.com/ -- 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 study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

Market Growth: The pediatric neurology device market has been experiencing significant growth in recent years. Factors such as an increasing prevalence of neurological disorders in children, advancements in medical technology, and rising awareness among parents and healthcare professionals are driving market expansion.

Neurological Disorders in Children: Pediatric neurology devices are designed to diagnose, treat, and manage neurological disorders in children. These disorders include epilepsy, cerebral palsy, neuromuscular diseases, brain tumors, and neurodevelopmental disorders like autism and attention deficit hyperactivity disorder (ADHD).

Diagnostic Devices: There is a growing demand for pediatric neurology diagnostic devices, which aid in the accurate assessment and diagnosis of neurological conditions in children. These devices include electroencephalography (EEG) machines, electromyography (EMG) systems, brain imaging devices (MRI, CT scan), and genetic testing kits.

Therapeutic Devices: Pediatric neurology devices also encompass a range of therapeutic solutions. Neurostimulation devices, such as vagus nerve stimulators and deep brain stimulators, are used to manage epilepsy and movement disorders. Additionally, there are devices for physical therapy, speech therapy, and rehabilitation to support the development and functioning of children with neurological conditions.

Minimally Invasive Procedures: The market is witnessing a shift towards minimally invasive procedures in pediatric neurology. This approach reduces risks, complications, and recovery time for young patients. Minimally invasive neurosurgical tools, neuroendoscopy systems, and catheters are gaining prominence in pediatric neurology practice.

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Market Drivers:

Increasing Prevalence of Pediatric Neurological Disorders: There has been a noticeable rise in the prevalence of neurological disorders among children. Factors such as genetic predisposition, environmental factors, and improved diagnostics have contributed to better identification and diagnosis of these conditions. This increased prevalence drives the demand for pediatric neurology devices.

Technological Advancements: Rapid advancements in medical technology have led to the development of innovative pediatric neurology devices. These devices offer improved accuracy, efficiency, and patient comfort. For example, advanced imaging technologies like high-resolution MRI and CT scan systems enable better visualization and diagnosis of neurological conditions in children.

Market Segmentation:

Product Type:
a. Diagnostic Devices: EEG machines, EMG systems, brain imaging devices (MRI, CT scan), genetic testing kits, etc.
b. Therapeutic Devices: Neurostimulation devices (vagus nerve stimulators, deep brain stimulators), physical therapy devices, speech therapy devices, rehabilitation devices, etc.

Neurological Disorder:
a. Epilepsy: Devices specifically designed for the diagnosis and management of epilepsy in children.
b. Cerebral Palsy: Devices aimed at improving motor function and facilitating rehabilitation for children with cerebral palsy.
c. Neuromuscular Diseases: Devices to aid in the assessment and treatment of neuromuscular conditions in children.
d. Brain Tumors: Devices used in the diagnosis, surgical planning, and treatment of pediatric brain tumors.
e. Neurodevelopmental Disorders: Devices focused on supporting the development and management of neurodevelopmental conditions like autism and ADHD.

End User:
a. Hospitals: Devices used in pediatric neurology departments within hospitals and medical centers.
b. Specialty Clinics: Devices utilized in specialized pediatric neurology clinics and centers.
c. Ambulatory Surgical Centers: Devices employed in outpatient surgical settings for pediatric neurology procedures.

Geography:
The market can also be segmented based on regional factors, such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region may have varying market dynamics, regulatory frameworks, and healthcare infrastructure impacting the adoption of pediatric neurology devices.

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Regional Growth Dynamics:

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.

Competitive Landscape:

Medtronic plc
Abbott Laboratories
Boston Scientific Corporation
LivaNova PLC
Natus Medical Incorporated
Elekta AB
Philips Healthcare
GE Healthcare
Siemens Healthineers AG
NeuroPace, Inc.

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