Strong Demand Trends to Revolutionize the Global Pediatric Neurology Device Market By 2021

The pediatric neurology devices market is developing considerably well owing to development of practices and treatment methods. Market Research Future, a firm which specializes in market reports related to the healthcare sector among others, published in its recent report on Global Pediatric Neurology Devices Market Research Report – Forecast to 2021, that the demand graph of the sector is expected to grow with an upward tick while demonstrating a positive CAGR% in the forecast period.

Though there has been a significant level of growth in the pediatric neurology devices market, the market is still in its development phase with not many players in the market. As it is a niche segment in terms of treatments there is a lot of scope for development. The demand levels experienced have been high as compared to the past few years due to the rise in the level of cases detected in various countries. As pediatric patients require special devices for detection and treatment and cannot use the same devices used for detection of neurological diseases in adults. With most of the companies capitalizing on the lack of major competitors in the market, along with the huge demand for this segment has also improved the scope of growth. The sector may however find its growth restricted due to lack of R & D initiatives in this sector and cost of the equipments.

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Latest Industry Updates:

Oct 2017 London-based medical device manufacturer LivaNova has announced FDA approval of its most recent Vagus Nerve Stimulation Therapy (VNS Therapy) System, which will be the smallest and lightest responsive therapy available for drug-resistant epilepsy patients aged four years and older. The SenTiva system is also the first device of its size to include detect-and-respond functionality, which allows the system to deliver therapy that prevents seizures before they start and more quickly end them when they occur.

Sept 2017 Six companies presenting innovative medical device solutions that address significant unmet needs in pediatric health were awarded a total of $250,000 in grant money in the month of September at the 4th annual Pediatric Surgical Innovation Symposium organized by the Sheikh Zayed Institute for Pediatric Surgical Innovation at Children’s National Health System. Four companies were awarded $50,000 each and two were awarded $25,000. The six winners were selected from a field of twelve finalists.

July 2017 The US Food and Drug Administration (FDA) has approved a magnetic resonance imaging (MRI) system designed specifically to serve neonatal intensive care units (NICUs).The Embrace Neonatal MRI System (Aspect Imaging) is intended for head and brain imaging for neonates with a head circumference of up to 38 cm and body weight between 1 kg and 4.5 kg. The unit, which can be housed directly inside a NICU environment, includes a temperature-controlled incubator that is placed directly into the MRI system to minimize movement of the patient. The 1.0 Tesla system does not require a safety zone or radiofrequency-shielded room due to its fully enclosed design.

Global Pediatric Neurology Devices Market - Competitive Analysis

With the entry of new industry players in the global pediatric neurology devices segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.

The key players for the global pediatric neurology devices market are Courtagen, Elana Inc., Ethicon, Inova Healthcare System. Some of the other important players in the segment are Medtronic, Neumors and Philadelphia Pediatric Medical Device Consortium

Global Pediatric Neurology Devices Market – Segments

The global pediatric neurology device has been segmented on the basis of services & treatment, neurological subspecialties and regions.

On The Basis Of Services & Treatment: Electroencephalogram, Intrathecal Baclofen Therapy, Lumbar Puncture, Neurological Evaluation and Vagal Nerve Stimulation

On The Basis Of Neurological Subspecialties: Neuro-Oncology, Neuromuscular, Neonatal Neurology, Neuro-Immunology, Stroke and Others

On The Basis Of Region: North America, Europe, Asia Pacific and ROW.

Global Pediatric Neurology Devices Market - Regional Analysis

Geographically, Global Pediatric Neurology Device market is segmented as North America, Europe, Asia Pacific, Middle East & Africa and Rest of the World. The North American region is expected to continue to dominate the global market owing to the new market strategies and technological advancements taking place.

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Europe has also acquired a good market for Pediatric Neurology Device. The rise in geriatric population and the rising prevalence of the chronic disease are leading the market growth. The Europe is the second largest market in the Pediatric Neurology devices after the American market. The market is led by the adoption of the new technology and higher spending on the healthcare industries by the European organization and the rising number of the birth rate and increasing number of the prevalence of the chronic diseases. The market is expected to grow at a respectable rate during the forecasted period 2016-2021.

Asia-Pacific is emerging as the fastest growing market for Pediatric Neurology Devices attributing to the prevalence of neurological disorders coupled with the rising demand for faster diagnosis and effective treatment.

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