Global Pediatric Neurology Devices Market - 2023-2030

Global Pediatric Neurology Devices Market - 2023-2030

Global Pediatric Neurology Devices Market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030, growing with a CAGR of XX % during the forecast period 2023-2030.

Pediatric neurology devices play a crucial role in the diagnosis, treatment, and management of neurological disorders in children. These devices have been specially created to cater to the particular medical requirements for adolescents patients. Devices used in pediatric neurology allow for the precise and rapid identification of neurological problems in children. Effective therapy and an increase in the quality of life for pediatric patients depend on early diagnosis.

It is frequently necessary to manage and continuously monitor neurological issues. EEG equipment (Electroencephalography) and other pediatric neurology gadgets aid in the monitoring of brain activity, allowing medical experts to modify treatment regimens as necessary. To deliver the best care possible, pediatric neurology specialists in the medical field rely on these devices. These resources help medical professionals make well-informed choices regarding available therapies, ensuring that kids get the best care possible for their unique conditions.

Market Dynamics: Drivers and Restraints

The strategies adopted by the companies

Technology advancements have made it possible to produce devices that are more compact, accurate, and effective for pediatric patients. These advancements include miniaturisation, enhanced sensors, and novel components. The effectiveness and safety of pediatric neurology devices are improved by these developments. Additionally, the launch of new products by companies aids in accelerating market expansion.

For instance, in October 2022, The Monarch external Trigeminal Nerve Stimulation (eTNS) System from NeuroSigma is currently available to treat patients with attention-deficit/hyperactivity disorder (ADHD) aged 7 to 12 who are not receiving medication for the condition. Based on findings from a placebo-controlled clinical trial including 62 kids with moderate to severe ADHD, the device received FDA approval in 2019.

Additionally, in March 2023, a hospital in Minneapolis recently opened the ""first"" pediatric hybrid intraoperative MRI neurosurgery unit in the country. The neurosciences programme and radiology division of Children's Minnesota utilise the 2,970 square foot Richard M Schulze Family Foundation iMRI Surgical Suite. Midway through operations to treat brain tumours, epilepsy, traumatic injuries, and more at the hospital in Minneapolis, specialists will do both brain and complete spine scans.

Parents and healthcare professionals are increasingly looking for enhanced diagnostic and therapeutic options as a result of growing awareness of pediatric neurological diseases and the value of early diagnosis. This rise in demand stimulates the creation of innovative pediatric-focused medical technology. Autism, cerebral palsy, and other pediatric neurological problems are becoming more prevalent around the world.

Market Dynamics: Restraint

Even though pediatric neurology devices have made significant progress, a number of constraints have made it difficult for them to be developed, adopted, and used effectively. For instance, progress may be hampered by a lack of funds and investment in the research and development of pediatric medical devices.

The small market size and high development costs for specialised devices may discourage investors and businesses from investing in this industry. Technical difficulties arise when building devices that are both efficient and secure for use in pediatric patients, whose bodies and physiological responses differ from adults.

Segment Analysis

The global pediatric neurology devices marketis segmented based on product type, application, age group, end-user and region.

The neurostimulation devices segment from the type segment accounted for approximately 41.7% of niemann-pick disease type share

Pediatric neurology is increasingly using neurostimulation devices to treat a variety of neurological problems and enhance the quality of life for kids with neurological disorders. By sending electrical impulses to particular nerves or regions of the brain, these devices modulate the aberrant neural activity linked to various illnesses. Due to its characteristics and the company's techniques used, the segment's growth is accelerated.

For instance, on Feburary 02, 2023, SenTiva DUO, an implantable pulse generator (IPG) with a dual-pin header, was introduced by LivaNova PLC to deliver VNS Therapy for the management of drug-resistant epilepsy. As an additional treatment for drug-resistant epilepsy in adults and children as young as 4 years old with partial onset seizures, VNS Therapy has been scientifically demonstrated to be both safe and effective. It is a advance method of care created for persons with drug-resistant epilepsy, a disorder that affects one in three epileptics. Thus, all of these factors support the segment's growth.

Geographical Analysis

North America accounted for approximately 38.4% of the market share in 2022

The growing prevalence of cerebral palsy, epilepsy, stroke, and other neurological conditions, as well as expanding research and development activities, rising investments, supporting governmental initiatives, and significant market players' key initiatives, are the main factors driving the growth of the North American pediatric neurology devices market.

During the period, it is anticipated that the United States will control a sizeable portion of the market in North America. For instance, more than 10,000 infants in the United States receive a cerebral palsy diagnosis each year, according to a Congress.gov account from March 2022. The need for these devices is rising as a result of the high frequency of cerebral palsy in the nation. Thus, all of those components aid in accelerating regional growth.

Moreover, Asia-Pacific is anticipated to have significant growth. This is because of the existence of high-population countries like China and India, which increases the probability that more people may suffer genetic disorders, as well as the expanding number of strategies and trends that market players are implementing.

COVID-19 Impact Analysis

Priorities for healthcare may change during a pandemic. The management of the COVID-19 patient influx may require reallocating resources, which may have an impact on the demand for non-essential medical devices, including some pediatric neurology products. Pandemics frequently occur during economic downturns. Budget restrictions may prevent hospitals and healthcare facilities from purchasing new medical equipment, especially pediatric neurology devices.

During a pandemic, the supply and production chains for medical devices might be severely interrupted. The availability of pediatric neurology devices may be impacted by transportation issues, factory closures, and restrictions on movement. Numerous neurological problems have been linked to COVID-19. Pediatric kids may require specialized neurology equipment to treat these symptoms because to the disease's long-term effects.

Market Segmentation

By Product Type
• Neurostimulation Devices
• Neurosurgery Devices
• Cerebrospinal Fluid (CSF) Management Devices
• Others

By Application
• Epilepsy Diagnosis and Management
• Cerebral Palsy Management
• Autism Spectrum Disorder (ASD) Management
• Genetic Neurological Disorders
• Others

By Age Group
• Infants
• Preschoolers
• Adolescents

By End-User
• Pediatric Hospitals
• Specialty Clinics
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Integra LifeSciences, Medtronic, Abbott Laboratories, B.Braun Melsungen, Philips Healthcare, LivaNova, Boston Scientific, Natus Medical, Masimo Corporation, Compumedics Limited and among others.

Key Developments
• On March 21, 2023, The Food and Drug Administration (FDA) granted Inspire Medical Systems, Inc. permission to provide Inspire therapy to pediatric patients with Down syndrome. Inspire Medical Systems, Inc. focuses on the development and commercialization of novel, minimally invasive solutions for patients with obstructive sleep apnea (OSA).
• In January 2023, a strategic digital marketing collaboration between Data360 and NeuroSigma, Inc., a Los Angeles-based bioelectronics business that markets external trigeminal nerve stimulation (eTNS) technology for the treatment of neurological and neuropsychiatric illnesses, had started. These initiatives will be supported by the relationship with Data360, which will make use of its innovative data platform with artificial intelligence (AI).

Why Purchase the Report?
• To visualize the global pediatric neurology devices market segmentation based on product type, application, age group, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of pediatric neurology devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global pediatric neurology devices market report would provide approximately 69 tables, 58 figures and 187 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies