Pediatric Neurology Devices Market Forecasts to 2030 – Global Analysis By Product Type(Neurosurgery Devices, Cerebrospinal Fluid Management Devices, Neurostimulation Devices, Interventional Neurology Devices and Other Product Types), Condition (Seizures,

Pediatric Neurology Devices Market Forecasts to 2030 – Global Analysis By Product Type(Neurosurgery Devices, Cerebrospinal Fluid Management Devices, Neurostimulation Devices, Interventional Neurology Devices and Other Product Types), Condition (Seizures, Stroke, Hydrocephalus, Oncology and Other Conditions), Age Group, Service and Treatment, Neurological Subspecialties, End User and By Geography

According to Stratistics MRC, the Global Pediatric Neurology Devices Market is accounted for $3.3 billion in 2023 and is expected to reach $6.4 billion by 2030 growing at a CAGR of 9.8% during the forecast period. Medical equipment made especially for the diagnosis, observation, and treatment of neurological diseases in children is known as pediatric neurology equipment. These devices treat disorders including epilepsy, cerebral palsy, and developmental delays, which include a variety of instruments such as electroencephalography (EEG) machines, pediatric MRIs, and CT scanners for rehabilitation.

According to the Migraine Research Foundation report, it has been observed that half of all migraine sufferers have their first attack before the age of 12 and migraine has even been reported to in 18 months old children.

Market Dynamics:

Driver:

Rising demand in government programs and projects

The government initiatives provide funds, encourage teamwork, and foster creativity in the field of pediatric neurology by supporting the development of advanced diagnostic and treatment devices, ultimately improving patient outcomes. Additionally, such initiatives raise awareness about pediatric neurological disorders and the importance of specialized care. Therefore, pediatric neurology devices will continue to develop and innovate as long as governments continue to place a high priority on pediatric healthcare and research, which are driving this market’s growth.

Restraint:

High cost

The development and production of specialized pediatric neurology devices often involve extensive research, leading to substantial costs. These high costs can result in inflated prices for devices, making them unaffordable for many patients and healthcare providers. The financial strain on healthcare systems can limit their ability to invest in the latest technologies and advancements in pediatric neurology treatment. Additionally, the possible financial strain on patients, healthcare providers, and healthcare systems is one major drawback of the high pricing in the pediatric neurology device industry.

Opportunity:

Technological advancements

The ongoing innovation in medical technology leads to the development of more effective and minimally invasive devices for diagnosing, monitoring, and treating pediatric neurological disorders. This progress includes advanced neuroimaging techniques, neurostimulation devices, and surgical tools that enhance the precision and safety procedures. Furthermore, these innovations improve patient outcomes, reduce treatment-related discomfort, and contribute to a better quality of life for pediatric patients by providing healthcare professionals with increasingly sophisticated tools, which is boosting this market expansion.

Threat:

Lack of awareness

The restricted adoption and utilization of pediatric neurology equipment is a significant drawback resulting from a lack of understanding. Patients, caregivers, and healthcare professionals may not be aware of all the technologies that are available or all of their potential advantages. In addition, this may result in pediatric neurology equipment being neglected or adopted more slowly, which would ultimately affect patient treatment. The lack of awareness may contribute to a slower pace of innovation and research in the field, thereby impeding this market size.

Covid-19 Impact

The COVID-19 pandemic has had negative impacts on the pediatric neurology device market, primarily due to disruptions in healthcare systems and economic uncertainties. Lockdowns and restrictions led to a reduction in elective procedures and non-urgent medical appointments, affecting the diagnosis and treatment of pediatric neurological conditions. The adoption of new gadgets and technology was also impacted by the financial strains placed on healthcare systems and the decline in patient visits.

The neurosurgery devices segment is expected to be the largest during the forecast period

The neurosurgery devices segment is estimated to hold the largest share due to surgical instruments and equipment specifically made for treating neurological problems in children. This covers a broad spectrum of devices, including pediatric-sized neuroendoscopes, cranial fixation devices, minimally invasive neurosurgical instruments, and patient-specific implants for ailments such as hydrocephalus and congenital abnormalities. Additionally, these enable neurosurgeons to carry out accurate and secure treatments as they are designed with the special anatomical and developmental needs of pediatric patients, which are driving this segment's growth.

The seizures segment is expected to have the highest CAGR during the forecast period

The seizures segment is anticipated to have highest CAGR during the forecast period due to the increasing prevalence of pediatric epilepsy and the ongoing development of innovative devices. This includes electroencephalography (EEG) machines for monitoring brain activity, anti-seizure medications, neurostimulation devices like vagus nerve stimulators, and seizure alarms. Furthermore, it focuses on devices designed to diagnose, monitor, and treat seizures in pediatric patients and are crucial in the management of pediatric epilepsy which are thereby boosting this segment’s expansion.

Region with largest share:

North America commanded the largest market share during the extrapolated period. Pediatric neurology services are now more widely accessible due to the rise in popularity of telemedicine alternatives. New developments in the field of neuroimaging and EEG include smaller, more kid-friendly equipment that makes examinations of children more accurate and comfortable. Countries such as the United States, Canada, and Mexico have improved therapy options for diseases like epilepsy due to developments in neurostimulation techniques and data analytics to improve data interpretation, which are propelling this region’s growth.

Region with highest CAGR:

Europe is expected to witness highest CAGR over the projection period, owing to the regulatory organizations like the European Medicines Agency (EMA) and national health agencies which impose strict safety and efficacy standards for these devices. Major Key players such as Medtronic plc, Abbott Laboratories, Siemens Healthineers and Boston Scientific Corporation contribute to development and adoption of sophisticated diagnostic tools, therapeutic devices, and monitoring solutions tailored specifically for children. Furthermore, the cost of these devices is frequently covered by health insurance and public healthcare systems in many European nations which are driving this region’s expansion.

Key players in the market

Some of the key players in the Pediatric Neurology Devices Market include Medtronic, Elana, Inc., Stryker Corporation, Inova Healthcare System, Boston Scientific Corporation, The Nemours Foundation, Integra LifeSciences Corporation, B.Braun Melsungen AG, Abbott Laboratories, St. Jude Medical, LLC, Zimmer Biomet Holding Inc., LivaNova PLC, Natus Medical Incorporated and Karl Storz SE & Co. KG.

Key Developments:

In October 2023, Boston Scientific Corporation announced that the U.S. Food and Drug Administration (FDA) has approved an expanded indication of the WaveWriter Alpha™ Spinal Cord Stimulator (SCS) Systems for the treatment of painful diabetic peripheral neuropathy (DPN), a complication of diabetes that can affect the lower extremities of the body.

In September 2023, Boston Scientific Corporation announced it has entered into a definitive agreement to acquire Relievant Medsystems, Inc., a privately held medical technology company that has developed and commercialized the Intracept® Intraosseous Nerve Ablation System to treat vertebrogenic pain, a form of chronic low back pain.

In June 2023, Amcor the American Diabetes Association® and Abbott announced collaboration aimed at better understanding how diabetes technology like continuous glucose monitoring (CGM) systems can help people living with diabetes make informed decisions about their food and activity.

In March 2023, Somatus, the nation's leading and largest value-based kidney Care Company, and Inova Health System announce the new Nurse Navigator Program launch, an innovative addition to the already successful partnership.

Product Types Covered:
• Neurosurgery Devices
• Cerebrospinal Fluid Management Devices
• Neurostimulation Devices
• Interventional Neurology Devices
• Other Product Types

Conditions Covered:
• Seizures
• Stroke
• Hydrocephalus
• Oncology
• Other Conditions

Age Group Covered:
• 0-5 Years
• 5-10 Years
• 10-15 Years

Service and Treatments Covered:
• Intrathecal baclofen therapy
• Vagal nerve stimulation
• Electroencephalogram
• Neurological Evaluations
• Other Service and Treatments

Neurological Subspecialties Covered:
• Neuromuscular
• Neuroimmunology
• Neuro-oncology
• Neonatal Neurology

End Users Covered:
• Ambulatory surgery centers
• Hospitals
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:

- Market share assessments for the regional and country-level segments

- Strategic recommendations for the new entrants

- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030

- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

- Strategic recommendations in key business segments based on the market estimations

- Competitive landscaping mapping the key common trends

- Company profiling with detailed strategies, financials, and recent developments

- Supply chain trends mapping the latest technological advancements