Neurology Devices Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019

According to a new market report published by Transparency Market Research According to a new market report published by Transparency Market Research "Neurology Devices Market (CSF Shunts, CSF Drainage, Clot Retriever, Snare, Embolic Coil, Flow Diversion, Neurosurgery & Neurostimulation Devices) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global neurology devices market was valued at USD 5.0 billion in 2012 and is expected to grow at a CAGR of 15.4% from 2013 to 2019, to reach an estimated value of USD 13.6 billionin 2019.

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Rising number of neurological disorders such ischemic stroke, Alzheimer's disease, Parkinsonism, glioblastomas (brain cancer), multiple sclerosis and trauma are primary factors responsible for the growth of neurological devices market. Moreover, rise in geriatric and obese population along with augmented demand for minimally invasive surgery techniques have boosted the overall growth of this market. In addition, preference of patients to adopt neurological devices over drugs has been a growing trend, owing to lack of effectiveness and considerable side effects of these drugs.

Lack of reimbursement and unfavorable taxation policies of the U.S. and European governments have negatively affected the growth of this market. Companies in these regions are now vying for growth in emerging markets like India, China and Brazil. Rise in GDP and allocation of healthcare funds in emerging markets such as Asia and Latin America are also aiding the growth. The major players in this industry are also facing stiff competition from the regional manufacturers of these countries. However, significant R&D and branding of these products is helping these companies in improving their bottom line. Companies are heavily focusing on introducing innovative products that are easy to use for physicians as well...