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Neurological Device Market in the U.S. Fueled by Technological Advancements to Reach $7.9 Billion
By: iData Research
According to iData's U.S. Neurological Device Market Report, the U.S. market was estimated at $4.8 billion in 2020. The neurological device market is set to increase by 2026 to reach nearly $7.6 billion at a CAGR of 6.9%. Similarly, the procedures performed are set to increase as well to reach just over 200,000 performed in 2026. This report includes procedure volume, unit sales, average selling prices, market drivers and limiters, competitive market share analysis, and more.
iData's analysis includes cerebrospinal fluid management, detachable coils, liquid embolic, neurovascular catheters, neurovascular guidewires, neurovascular stents, balloon occlusion devices, aneurysm clips, neurovascular thrombus management, neuromodulation devices, intrathecal pumps, stereotactic devices, neuroendoscopes, and ultrasonic aspirators. The largest segment within the neurological device market is neuromodulation devices, divided between several competitors in the spinal cord stimulation and deep brain stimulation space.
"The neurological device market is expected to grow substantially by 2026", Dr. Kamran Zamanian, Senior Partner and CEO of iData Research mentions, "fueled by aging demographics, neurological procedural growth, and extensive technological advancements."
Among the many competitors within the U.S. market, Medtronic is the dominant leader. Medtronic has maintained its leading position in the neurological device market, but growing competition has broken several of its monopolies across the market. Across the company's vast product catalog, it now only maintains a monopoly in the gastric electric stimulation market, with new competition working through the FDA approval process.
To accurately estimate market shares, units sold, average selling prices, product segments, and brands as well as procedural volumes, iData Research uses its proprietary market and procedure databases, as well as hospital purchase order data to complement its primary and secondary research initiatives.
Follow the link below to download a Free Research Summary of the U.S. Market Report for Neurological Devices. Additionally, iData offers global and European reports on neurological devices:
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iData Research is an international consulting and market research firm dedicated to empowering confident strategic decisions within the medical device, dental, and pharmaceutical industries.