Europe Neurology Devices Market Analysis

Europe Neurology Devices Market Analysis

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The Europe Neurology Devices Market size was valued at $2.39 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 6.54% from 2022 to 2030 and will reach $3.98 Bn in 2030. The market is segmented by product type and by the end user. The Europe neurology devices market has been expanding in Europe as a result of a number of factors, such as the rising incidence of neurological disorders like Alzheimer's disease, Parkinson's disease, and multiple sclerosis as well as technological advancements that have resulted in the creation of new and improved diagnostic and therapeutic devices. Some key players in the market include GE Healthcare, Philips Healthcare, Medtronic, and Penumbra

ID: IN10EUMD012 CATEGORY: Medical Devices GEOGRAPHY: Europe AUTHOR: Jigyasu Bhandari

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Europe Neurology Devices Market Executive Analysis

The Europe Neurology Devices Market is at around $2.39 Bn in 2022 and is projected to reach $3.98 Bn in 2030, exhibiting a CAGR of 6.54% during the forecast period. In Germany, 11.7% of the country's Gross Domestic Product (GDP) was spent on current health care in 2019. This was the highest percentage out of the 27 EU member states. Luxembourg was at the other extreme of the spectrum. 5.4% of the GDP was spent on health care in this country. The two countries with the biggest overall increases were Romania and Estonia, where spending in 2020 was 118.5% and 99.0% higher than in 2012, respectively. These increases amounted to average yearly increases of 10.3% in Romania and 9.0% in Estonia.

In Europe, neurological illnesses came in third place behind cancers and cardiovascular diseases. The top three causes of Disability Adjusted Life Years (DALYs) in Europe were stroke, dementia, and headaches. The non-surgical medical equipment known as interventional neurology devices is used to perform non-invasive, image-guided operations to treat a variety of neurological diseases and disorders. Aneurysms, arteriovenous malformations, cavernous malformations, and stroke are a few of the neurological conditions that are treated with interventional neurology devices. Alzheimer's disease, which accounts for between 50-70 % of dementia cases, affects 10 million people in Europe. Alzheimer's disease is more common as people get older; it is predicted that 30% of those over 85 have the condition. Around 1.5 million people in Europe are thought to have Parkinson's disease, which is more prevalent in older age. Recurrent headaches are a common neurological disease known as migraine. Over 60 million people, or 12% of the population, are said to suffer from migraines throughout Europe.

europe neurology devices market analysis

Market Dynamics

Market Growth Drivers

The Europe neurology devices market has been expanding in Europe as a result of a number of factors, such as the rising incidence of neurological disorders like Alzheimer's disease, Parkinson's disease, and multiple sclerosis as well as technological advancements that have resulted in the creation of new and improved diagnostic and therapeutic devices. The advancements in neurology are helping the Italian healthcare system grow. More than 1 million people have dementia. Stroke affects 120,000 people annually, and the incapacity it causes affects another 930,000. A growing senior population in Italy is another factor in the country's rise in the prevalence of neurological diseases including Parkinson's and multiple sclerosis. After Alzheimer's disease and ischemic heart stroke, stroke ranks third in Spain as a cause of death. Additionally, government spending on healthcare systems has gone up. Market expansion in these nations is facilitated by such elements.

Market Restraints

The lengthy and difficult regulatory approval procedure for novel neurological devices may prevent certain businesses from entering the market. There are a number of foreign and local businesses operating in the somewhat competitive European market for neurology monitoring. The rivalry in the European industry has intensified due to the participation of practically all major international firms in the neurology monitoring sector. Since many of these multinational corporations have their headquarters in Europe, neurological monitoring is easier to obtain across the continent. A strong regulatory approach, incorporating biomarkers, is lacking for showing performance and assessing the effectiveness of innovative devices for early identification and medical intervention in the management of neurology disorders and accidents. Large amounts of sensitive patient data are generated by neurology devices, which can raise privacy concerns and lead to stricter regulations.

Competitive Landscape

Key Players

  • GE Healthcare
  • Philips Healthcare
  • Medtronic
  • Siemens Healthineers
  • B. Braun Melsungen AG
  • Penumbra

Notable Recent Deals

March 2022: Braintale, the cerebral white matter specialist French Medtech, announces today the launch of the brainTale-care platform with its modules brainQuant, dedicated to white matter quantification, and brainScore-coma, offering the prediction of coma recovery. The company is taking a decisive step in its development by providing doctors and medical teams with innovative decision support for digital medical devices in Europe.

2022: Guerbet, a French manufacturer of medical devices, purchased Accurate Medical Therapeutics, a Swiss manufacturer of medical technology, to expand its selection of interventional neurology devices for the treatment of brain aneurysms and stroke.

2021: US-based Royal Philips takeover the German manufacturer of medical devices Imricor Medical Systems. For a variety of treatments, including cardiac arrhythmia ablation and neurovascular treatments.

Healthcare Policies and Regulatory Landscape

The European Union (EU) and various EU member states regulate the healthcare policy and regulatory environment for the European neurology device market. To control the authorization and sale of medical devices, respectively, the EU established the European Medical Devices Agency (MDCG). Each nation in the European Union has its own national regulatory bodies in charge of approving and overseeing medical devices in addition to the European Union regulatory requirements. The market for neurology devices may be impacted by the strict regulations in some nations, such as Germany and France.

1. Report Description of the Europe Neurology Device Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report

2. Europe Neurology Device Market Executive Summary
2.1 Europe Neurology Device Market – Industry Snapshot & key buying criteria, 2021-2030
2.2 Market Size, Growth Prospects, and Key findings

3. Market Dynamics of Europe Neurology Device Market
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis

4. Europe Neurology Device Market Segmentation

4.1 By Device Type
4.1.1 Neurostimulation
4.1.2 Interventional Neurology
4.1.3 CSF Management
4.1.4 Neurosurgery Devices

4.2 By End User
4.2.1 Hospitals and Clinics
4.2.2 Speciality Centres
4.2.3 Others

5. Europe Neurology Device Market Share
5.1 Market Analysis, Insights, and Forecast – By Revenue

6. Competitive Landscape
6.1 Major Top Market Players

7. Key Company Profiles

7.1 Company 1
7.1.1 Overview
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives

7.2 Company 2
7.2.1 Overview
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives

7.3 Company 3
7.3.1 Overview
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives

7.4 Company 4
7.4.1 Overview
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives

7.5 Company 5
7.5.1 Overview
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives 

8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in Europe
8.2 Regulatory Framework in Europe
8.3 Pricing & Reimbursement Scenario in Europe Neurology Device Market

9. Factors Driving Future Growth
9.1 New Trends and Development Europe Neurology Device Market
9.2 Future Opportunities

10. Strategic Recommendations

Neurology Device Market Segmentation

The Neurology Device Market is segmented as mentioned below:

By Product Type (Revenue, USD Billion):

  • Neurostimulation
  • Spinal Cord Stimulation Devices
  • Deep Brain Stimulation Devices
  • Sacral Nerve Stimulation
  • Vagus Nerve Stimulation
  • Gastric Electric Stimulation
  • Interventional Neurology
    • Aneurysm Coiling & Embolization
    • Embolic Coils
    • Flow Diversion Devices
    • Liquid Embolic Agents
    • Cerebral Balloon Angioplasty & Stenting
    • Carotid Artery Stents
    • Filter Devices
    • Balloon Occlusion Devices
    • Neurothrombectomy
    • Clot Retriever
    • Suction Aspiration Devices
    • Snares
  • CSF Management
    • CSF Shunts
    • CSF Drainage
  • Neurosurgery Devices
    • Ultrasonic Aspirators
    • Stereotactic Systems
    • Neuroendoscopes
    • Aneurysm Clips

By End User (Revenue, USD Billion):

  • Hospitals and Clinics
  • Specialty Centres
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

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Last updated on: 21 February 2023

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