22 Nov 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Reportlinker has published a new market research report titled 'Neurology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019'. Neurological disorders are an important cause of mortality and account for almost 12 percent of the total number of deaths globally.
Of these, cerebrovascular diseases are responsible for 85 percent of the deaths reported. In addition, a rise in the world's ageing population and an increasing awareness of neurological disorders has triggered the growth of this industry.
The growing burden of these diseases on the healthcare system coupled with uncertain economic conditions in the US and Europe has compelled OEMs to introduce cost effective devices for the treatment of neurological disorders. Tax reforms along with increased regulatory compliance norms introduced by several countries are restraining the growth and profitability of companies in this sector.
These restraining factors experienced in mature markets have made it imperative for OEMs to tap the potential market in emerging economies such as India, China, Brazil and Russia. There has been significant growth in these emerging economies owing to increase healthcare awareness, rising disposable incomes, a rising middle class and favorable insurance sector policies in these countries. These factors are anticipated to make these regions the most attractive markets during our forecast period of 2011-19.
The report covers an in-depth analysis and an estimation of the global neurology devices market, for the period of 2013-19, considering 2012 as the base year for calculations. In addition, the current market dynamics including the drivers, restraints, trends and recent developments have been captured throughout the report. The neurology devices market has been further segmented into CSF management devices, interventional neurology, neurosurgery and neurostimulation devices markets. The report features major players in the market including, Medtronic, St. Jude Medical, Boston Scientific Group, Covidien, Cyberonics and others.